THIS IS AN EXAMPLE OF THE TREASURY DEPARTMENT'S PROMISE OF TRANSPARENCY ...
FINANCIAL AGENCY AGREEMENT
for
CUSTODIAN, ACCOUNTING, AUCTION MANAGEMENT
AND OTHER INFRASTRUCTURE SERVICES
for
FOR A PORTFOLIO OF
TROUBLED MORTGAGE-RELATED ASSETS
This is the custodial agreement between the Treasury Department and their financial agent, the Bank of New York Mellon.
All except the most important part, the Bank’s fee for acting as an agent of the government … which as you can see above has been redacted from the document.
Should you wish to read the document, minus the fee disclosure, it can be found here.
There is every reason to believe that President Obama’s pledge for an open and transparent accounting of all details with not be honored, or if it is honored, may be provided so late as to avoid any adverse affect on the transaction.
We, the people, know we are about to be screwed by Obama’s democrat Administration, it is in their blood.
Old joke: a scorpion is bargaining with a frog to take him across the pond. The frog refuses as he believes the scorpion will sting him and they will both drown.
After providing numerous assurances and promises, the frog agrees and the scorpion hops on his back for the trip across the pond.
Halfway there, the scorpion stings the frog and as they are both sinking, the frog asks, “why?”
The scorpion replies: “I am a scorpion, it’s my nature to sting.”
They both die! One of stupidity based on false promises.
Be well and be safe.
-- steve
A reminder from OneCitizenSpeaking.com: a large improvement can result from a small change…
The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane. -- Marcus Aurelius
“Nullius in verba”-- take nobody's word for it!
"Acta non verba" -- actions not words
“Beware of false knowledge; it is more dangerous than ignorance.”-- George Bernard Shaw
“Progressive, liberal, Socialist, Marxist, Democratic Socialist -- they are all COMMUNISTS.”
“The key to fighting the craziness of the progressives is to hold them responsible for their actions, not their intentions.” – OCS "The object in life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane." -- Marcus Aurelius “A people that elect corrupt politicians, imposters, thieves, and traitors are not victims... but accomplices” -- George Orwell “Fere libenter homines id quod volunt credunt." (The people gladly believe what they wish to.) ~Julius Caesar “Describing the problem is quite different from knowing the solution. Except in politics." ~ OCS