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Date Posted: 20:14:54 05/15/09 Fri
Author: Bobby N. Harmon
Subject: CV05-00030 - U.S. DEPT OF JUSTICE vs HARMON - New Exhibit: TARP - The Great American Coverup!

CV05-00030 - U.S. Dept. of Justice, David C. Farmer, Trustee vs. Bobby N. Harmon - New Exhibit: "TARP - The Great American Coverup"

Friday, May 15, 2009 9:27 PM

From: Bobby N. Harmon

To: "President Barack Obama" , "U.S. Attorney General Eric Holder" , "David Farmer" , "Steven Guttman" , "Carol K. Muranaka" , "Judge David A. Ezra" , "Judge Kevin S.C. Chang" , "Judge Barry M. Kurren" , "Securities & Exchange Commission Enforcement Division" , "U.S. Treasury Dept. Office of Inspector General" , "Office of Inspector General US Dept of Justice" , "Executive Office for U.S. Trustees" , "Judge Robert Faris" , "SEC Office of The Inspector General" , "Hawaii State Bar Association" , "Charles Goodwin" , "Hugh Jones" , "Insurance Division Fraud Branch" , "Lawrence Reifurth" , "Linda Lingle" , "Jo Ann Uchida" , "Office of Inspector General Civil Rights Complaints" , "Mark Bennett"

Cc: "ACLU Hawaii" , "All Representatives" , "All Senators" , "Andrew Walden" , "Aon Insurance Managers" , "Arthur Rath" , "Benjamin Kudo" , "Bradley Tamm" , "Carl Morton" , "Charles Hurd" , "David Shapiro" , "Dee Jay Mailer" , "J C Shannon" , "James B Nicholson" , "James B. Farris" , "James Cribley" , "James Wriston" , "Jeffrey Watanabe" , "Jim Dooley" , "Joe Moore" , "John D. Finnegan" , "John Goemans" , "Judson Witham" , "Ken Conklin" , "Lyn Flanigan Anzai" , "Margery Bronster" , "Marsh Affinity Group" , "Michael N. Tanoue" , "Michelle Tucker" , "Nathan Aipa" , "Paul Alston" , "Randall Roth" , "Rick Daysog" , "Robert Bruce Graham" , "Robin Campaniano" , "Samuel P. King" , "William K Slate" , "Jim Terrack" , "Don Michak" , "Rocco Sansone" , "Ted Pettit" , "Laura Thielen" , "Vaughn & Lynda Robinson" , "Rebecca Christie" , "Catbird" , "James Duca" , "Ian Lind" , "Roy F. Hughes" , "Malia Zimmerman" , "Jack Cashill" , "Marshall Chriswell" , "Laser Haas" , "Lucy Komisar" , "Democrats.com" , "Debra Sweet" , "Jane Kirtley" , "V K Durham" , "John Jubinsky" , "Yamil Berard" , "Global Exchange" , "William K. Black" , "Carole Williams" , "Susan Tius" , "Human Rights in China" , "Michelle Malkin" , "Heather Vsn Doren" , "Phil J. Berg" , "Amnesty International U.S.A." , "Michael Moore" , "California Anti-SLAPP Project" , "Thomas Fitton" , "Ron Branson"

TARP: The Great American Coverup


Definition of tarp - the short form of a big word meaning a coverup constructed from whole cloth, designed to protect stuff that can't withstand exposure to the elements....


May 15, 2009



The federal government has agreed to extend billions in bailout funds to six major U.S. life insurers, helping them shore up their capital positions in the wake of major investment losses.

The Hartford Financial Services Group Inc. said Thursday that it had been notified by the Treasury Department that it was eligible for $3.4 billion from the Troubled Asset Relief Program, or TARP. Lincoln National Corp. ), which goes by the name Lincoln Financial Group, said it has been initially cleared for a $2.5 billion injection from TARP's Capital Purchase Program.

Allstate Corp. ( ALL - news - people ) of Northbrook, Illinois, Minneapolis-based Ameriprise Financial ( AMP - news - people ) Inc., Principal Financial Group ( PFG - news - people ) Inc. of Des Moines, Iowa, and Prudential Financial Inc. ( PRU - news - people ) of Newark, New Jersey, also are among insurers receiving preliminary investment approval, Treasury spokesman Andrew Williams confirmed. He declined to disclose the amount of investment each company will receive.

The total capital injection into the six companies will be less than $22 billion, The Wall Street Journal reported, citing a person familiar with the situation.

Shares of the insurers were mixed at midday Friday. Shares of Connecticut-based Hartford Financial rose 58 cents, or 3.9 percent, to $15.33, while Lincoln National gained 10 cents to $16.34, Ameriprise added 17 cents to $25.23 and Principal Financial rose 26 cents to $19.13. But shares of Prudential fell 96 cents, or 2.5 percent, to $38.41 and Allstate lost 55 cents, or 2.2 percent, to $24.70.

The $700 billion TARP bailout fund, approved by Congress last year, was originally intended to purchase toxic loans on the books of banks that were inhibiting their ability to make loans. But the fund quickly morphed into a capital backstop fund for banks and was also used by the Treasury Department to make loans to General Motors Corp. Chrysler and insurance giant American International Group Inc. people...

Insurance companies won backing from the Bush administration last year to be considered for the government's TARP program because some of the companies either owned savings and loans or acquired them to be considered for the bailout program, or were already classified as bank holding companies. The Hartford and Radnor, Pennsylvania-based Lincoln National, two of the largest U.S. life insurers, and several others applied to become thrift holding companies last fall.

Regulators approved applications earlier this year from those two firms. Hartford said in January that it expected to be eligible for between $1.1 billion and $3.4 billion in bailout money.

After a company receives preliminary approval for support from the TARP program, it can take several weeks for the final paperwork to be approved and for the loans to be disbursed...


Continued at: http://www.kycbs.net/TARP.htm

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