InvestmentMAGE's Blog : US Treasury to unveil new banking sector plan Monday

Tarp (Wars) Episode II: Attack of the CDOs

is a 2009 financial opera directed by Timothy Geithner and written by Ben Bernanke and Henry Merritt "Hank" Paulson Jr. It is the second program to be released in the Tarp (Wars) saga and the second in terms of internal chronology.

The program is set four months after the events in Tarp (Wars) Episode I: The SubPrime Menace,

when the galaxy is on the brink of financial collapse. Under the leadership of a renegade Fed Chairman named Alan (Obi-Wan) Greenspan, thousands of banks threaten to default due to losses incurred in troubled assets from collateralized debt obligations, (CDO)s

When an embezzlement attempt is made on the Troubled Asset Relief Program (TARP) by the banks renegade CEOs, 54-year-old Fed apprentice Ben (Shalom) Bernanke, the 4th most powerful person in the world, is assigned to protect the Tarp funds, while his mentor Alan (Obi-Wan) Greenspan receives millions in consulting fees from banks while consulting on the very crisis that he helped create.

Geithner is also assigned to investigate and hopefully block the embezzlement attempt. Soon, Timothy Geithner, Ben Bernanke and Obi-Wan are drawn into the heart of the banking crisis and the beginning of a new threat to the galaxy, the Credit Default Swaps.

Preceded by Tarp (Wars) Episode I: The SubPrime Menace
Followed by Tarp (Wars) Episode III: Revenge of the Credit Default Swaps


Produced By: George W. Bush, with special thanks to the NeoCons

Starring:

Timothy Geithner
Ben Shalom Bernanke
Alan (Obi-Wan) Greenspan
"Hank" Paulson



This is how some of the Tarp money was accounted for:

Merrill Lynch spent $1.2 million upgrading the executive suites
Peter Kraus works a few days for Merrill Lynch and receive a $25 million golden parachute.
Citigroup is upgrading with a brand-new $50 million corporate jet.

And that is just part of what we DO know about.

There seems to be about $57 billion missing?

Bloomberg Sues Fed under Freedom of Information Act (FOIA) to Force Disclosure of Collateral
The Fed didn't give Bloomberg a formal response because ``it got caught in the vortex of the things going on here,'' said Michael O'Rourke, another member of the Fed's FOIA staff.
The case is Bloomberg LP v. Federal Reserve, U.S. District Court, Southern District of New York (Manhattan).
Stay tuned, the Saga is sure to continue.

Recommendation:
Buy Gold/Silver: DGP, PAAS, SLW, and SSRI

Caveat:

Read the charts, there will be corrections on the way up.

MAGE
I made all my money selling too soon. ~ JP Morgan