DECEMBER 09, 2011
Since 2008, Judicial Watch has actively pursued documents regarding the unprecedented explosion in the size and reach of the government through its use of $24 trillion for “TARP” (Troubled Asset Relief Program) bailouts, “bank rescues” and the Obama administration’s economic “stimulus” plan. The $200 billion taxpayer bailout of Fannie Mae and Freddie Mac is arguably the biggest government corruption scandal in our history.
Judicial Watch’s efforts have revealed documents showing Congress’ awareness of the poor business practices of Fannie and Freddie at the same time as key members of Congress continued to block attempts to regulate the two Government Sponsored Enterprises (GSEs). A Freedom of Information Act (FOIA) lawsuit that we filed against the Department of the Treasury resulted in documents that revealed details of how the government coerced the CEOs of several major banks to accept TARP funds.
Judicial Watch is continuing to investigate the government corruption that contributed to the financial crisis as well as the corruption behind the TARP, Fannie Mae and Freddie Mac, the nationalization of General Motors and the increase of government power over our economy. We have at least 36 FOIA requests and several FOIA lawsuits pending.