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The original doc. at http://freeassemblage.blogspot.com/2009/04/academy-blog-beats-big-media-timing.html contains hyperlinks to references.Thursday, April 2, 2009Academy Blog Beats the Big Media Timing This blog was the first to report yesterday that Fox News' Senior Legal AnalystJudge Andrew Napolitano said that extortion was committed on many American banksby the Bush Administration. The story was being typed as the Judge was speaking,and published to the internet within minutes.Wednesday, on Fox's Studio B with Shepard Smith, Napolitano said that banks thatdid not need the bail-out money, did not want the bail out money, and tried torefuse, were specifically told by the FDIC and the Treasury that if those banksdid not take the money they would be subjected to expensive and lengthy auditswhich the banks themselves would have to pay for.Napolitano said that Monday night he met with an official of one of those bankswho explained how the process had gone down. This official is reported to havetold the government to go ahead with the audit because his bank was "clean" as faras its book were concerned. That is when the official was told his bank would haveto pay for the audit, and his employees would have to give their time, paid for bythe bank, to assist with the audit.The Business and Media Institute said three hours later that "the method theTreasury Department employed to get banks to go along with the TARP bailoutbreached legal boundaries to the point of 'extortion,' according to Fox NewsSenior Judicial Analyst Andrew Napolitano, a former Superior Court Judge for thestate of New Jersey.The Judge defined extortion as " a threat to perform a lawful act to affect someones free will.""This person runs a bank that’s worth about $250 billion, it has no subprimeloans, it has no bad debts, wasn’t involved in credit default swaps," Napolitanosaid. "It didn’t need any money. It didn’t ask for the money and didn’t want it.The FDIC with Treasury backing - officials from both the Federal Deposit InsuranceCorporation and the Treasury said if you don’t take this money, we will conduct amulti-year public audit of you."In addition, those banks which were unduly forced to take the money now owe 5%interest on those government "loans". Some banks cut investor dividends at the endof their business cycles in order to pay for the interest owed.In related news, "Signature Bank of New York said on Tuesday that it had repaid$120 million to the Treasury Department. Old National Bancorp of Indiana returned$100 million, Iberiabank of Louisiana paid back $90 million, and Bank of MarinBancorp of Novato, Calif., repaid $28 million. All of the banks paid 5 percentinterest on the money they had received."New restrictions on executive compensation and dividend payouts made such aidless palatable to bank managers." New York TimesThe Free Assemblage of Metaphysical Naturalists is the sm ofThe Free Assemblage of Metaphysical Naturalists LLC.The Academy of Metaphysical Naturalism tm,
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