$ 78 Billion Fast-Tracked (or Derailed?)

Bush Jr. has left office; he’s no longer in control and so can no longer keep a lid on all he’s done – and from what we’ve seen and know about Bush’s government, ugly details are bound to creep out of the ‘woodwork’; these shouldn’t come as surprises.

So news that Americans have overpaid their ‘assets’ to the tune of $78 billion which the State Department cannot account for – although it certainly is insulting – shouldn’t be that big of a shock. The question instantly raised in my mind is: was Dick Cheney somehow involved?

Elizabeth Warren, Harvard professor and Chairwoman of the oversight panel, has revealed that 34 % of American tax-payer’s money which was supposedly invested by the Treasury is missing; according to a lengthy review of all the numbers, the panel has concluded that $78 billion has not in fact been invested but has been used, essentially, to subsidize banks.

Warren cannot offer any plausible explanation as to why the government would have acted this way and chides that, despite Treasury official’s claim that this was done to speed-track transactions necessary for their ‘bail-out’ plan, honesty and transparency should have been applied. Learning about this ‘discrepancy’ through a third-party just raises a lot of severe doubts and questions.

Now that the truth is out and a new government is in place, are we already seeing reason behind what I had voiced in a previous Obama post, that all every one is going to remember is that things were at their worst when a black guy was in charge? People can hardly remember major news events that happened 6 months ago – are they going to remember Bush and his overtly-greedy cronies a few years from now when consequences for all they’ve done will finally reach some sort of apex, and the U.S. is reduced to a beggar-state wide open to foreign investments and takeovers?

And who are the owners of these banks which have received those funds? Trust me, the information is not readily available.
And is there a connection between this and the 1996 collective current-account deficit of $ 78 billion held by ‘emerging’ countries, as reported by the IMF (International Monetary Fund), and the now inexplicable surplus to deficit offset of over $ 265 billion which cannot be explained by the IMF? Although this is mere speculation, it seems to me like the world’s biggest scam, pulled off by the world’s richest men, may finally be coming to light. American involvement with the IMF and the World Bank cannot be taken lightly; I cringe at the thought of someone like Bush being in a locked room with like-minded men to decide what should be done with the ‘world’s money.’

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© 2009, Pascal-Denis Lussier

Picture: Book cover - How to Get Stupid White Men Out of Office: The Anti-Politics, Un-Boring Guide to Power by William Upski Wimsatt

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