Bail Them Out, Then Sue In The Spirit Of The Perception Of Regulation And Diligence

In a scam taken from times of old, where government printed money then handed it out to civilians only to recoup a portion through taxation, the US government is pulling a fast one on the American public.  Just shy of three years ago in October of 2008, the US issued TARP in the hopes of using taxpayer money to buy the toxic assets created by the banks in the hopes that hiding the bad debt would offer an enhanced looking "piece of crap/shitty deal/junk" which would in turn make balance sheets look better thus increase the flow of capital so that the economy could rebound and the citizens would assume all is well.  After handing out currency worldwide, it sounds as if the Fed wants the US government to recoup $196 Billion.  Now for something I'm confident you will not hear being brought up on the mainstream, hypnotic box news.  Back during the debt ceiling show FederalTimes reported that "Treasury Secretary Timothy Geithner said he is suspending new investments in both the Civil Service Retirement and Disability Fund (CSRDF) and the Thrift Savings Plan G Fund".  Timmay chose to free that money up in case the Treasury was forced to find a new way to fund its operations.  I knew that the $196 Billion sounded awfully close to the number that we all knew the Treasury needed.  Well now we know how the government planes to get it back.

The CSRDF, which provides benefits to retired and disabled federal workers covered by the Civil Service Retirement System, is invested in special-issue Treasury bonds. Under a 1986 law, the Treasury Department can temporarily stop investing new employee and agency contributions, along with interest earnings on existing investments and income from maturing securities. The department can also redeem income of about $6 billion per month in existing securities ahead of schedule. Taken together, those steps would create about $84 billion in "headroom" between now and August, according to the Treasury Department fact sheet.

This fantastic display of the benefits of websites being cached shows us that the government is going to sue the banks that they chose to bailout so that the Treasury is able to replenish the borrowing from the CSRS and Thrift Savings Plan G Fund.  Ok so that’s $84 Billion of the $196 Billion, what about the other $112 Billion?

The G Fund is also invested in special-issue Treasury notes. The total balance matures daily and is then reinvested, the department said. Suspending those reinvestments will free up about $130 billion during the same period, the department said.

There it is, along with an extra $18 Billion for good measure, after all with Mozilo out of the picture, Congress needs a new source for 0% interest loans.  Here are the 17 banks that will provide the replenishment funds and all help Congress replenish their group bounty.

From FHFA:

FHFA (and OFHEO) Legal Filings

FEDERAL HOUSING FINANCE AGENCY

FHFA Filings in PLS Cases, September 2, 2011:

1. Ally Financial Inc. f/k/a GMAC, LLC
2. Bank of America Corporation
3. Barclays Bank PLC 
4. Citigroup, Inc.
5. Countrywide Financial Corporation 
6. Credit Suisse Holdings (USA), Inc.
7. Deutsche Bank AG 
8. First Horizon National Corporation
9. General Electric Company 
10. Goldman Sachs & Co.
11. HSBC North America Holdings, Inc.
12. JPMorgan Chase & Co. 
13. Merrill Lynch & Co. / First Franklin Financial Corp.
14. Morgan Stanley 
15. Nomura Holding America Inc.
16. The Royal Bank of Scotland Group PLC 
17. Société Générale

FEDERAL HOUSING FINANCE AGENCY, AS CONSERVATOR FOR THE FEDERAL NATIONAL MORTGAGE ASSOCIATION AND THE FEDERAL HOME LOAN MORTGAGE CORPORATION v. UBS AMERICAS INC., UBS REAL ESTATE SECURITIES INC., UBS SECURITIES, LLC, MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC.  DAVID MARTIN, PER DYRVIK, HUGH CORCORAN, and PETER SLAGOWITZ