THE HEAT IS ON Issa to Paulson: I Want the Time and Date

Three cheers for two truth seekers in Congress.

Congressman Darrell Issa (R-CA), along with Congressman Dennis Kucinich (D-O), are raising important questions about the Paulson Bailout plan, and just how and why it was changed from a mortgage bailout plan.

“I want to know whether Congress was lied to or whether there was a team all along that had an alternate idea of how the money was spent,” Issa said, before demanding to know the “time and date” Hank Paulson, Treasury secretary, had decided to abandon his initial plan to buy up mortgages, reports FT.

"I think it's fairly obvious that Congress would have never passed the [rescue plan] had it known how Treasury would marshal the resources it was given," Kucinich said during his opening remarks before a hearing on the bailout.

Note to Kucinich and Issa, the Paulson bailout plan was a scam from the start. See my post The BIG LIE: The Supposed Paulson Bailout Plan, written BEFORE Congress even approved the plan. But, I really suspect the scam started with the takedown of the competitors of Goldman Sachs. An investigation (away from the clueless SEC) must be done to determine the exact causes that led to the collapse of these two firms. Goldman, Paulson's old firm, has publicly admitted that it has picked up 100 new major clients since the financial crisis began.