Archive for Henry Paulson

Bankergate: Emails Expose Criminal Financial Dictatorship At Work

Posted in Business, economic tyranny, Economy, Fiat Currency, International Bankers, New World Order, News, The Federal Reserve, Tyranny with tags , , , , , , , , , , , on February 25, 2010 by truthwillrise

Geithner may be thrown under the bus as financial terrorists continue to profit

Steve Watson
Prisonplanet.com
Monday, Jan 11, 2010

Bankergate: Emails Expose Criminal Financial Dictatorship At Work 110110GeithnerExplosive emails released last week could see Treasury secretary Timothy Geithner become embroiled in criminal charges for his role in a cover up that exposes the monumental criminality behind the $182.3 billion bailout of American International Group Inc.

In November and December 2008, The Federal Reserve Bank of New York instructed the bailed out AIG to hide from the public details regarding payments the insurance giant made to banks, including Goldman Sachs Group Inc. and Societe Generale SA.

Using Fed secured taxpayer bailout money, AIG paid several banks 100 percent of the face value of credit-default swaps, as other financial institutions were negotiating deep discounts for the unregulated paper assets that do not have to be backed by cash.

The decision to pay the banks in full may have cost AIG, and therefore taxpayers, at least $13 billion over the odds.

The “backdoor bailout” of the banks, as it has been dubbed was exposed in March 2009 after the SEC challenged AIG’s filing, however, e-mails obtained by Representative Darrell Issa, ranking member of the House Oversight and Government Reform Committee, have re ignited the situation as they conclusively expose a collusion between AIG and the Fed to deceive the public.

The e-mails between company and regulator, released last Thursday, show that The New York Fed crossed out reference to the payments and that AIG also omitted the details when the Securities and Exchange Commission filing was made public on Dec. 24, 2008.

The emails, the content of which are highlighted in this Bloomberg News article, also show that the Fed wanted numerous other details about the AIG bailout withheld or delayed from public oversight.

“It appears that the New York Fed deliberately pressured AIG to restrict and delay the disclosure of important information,” said Issa, a California Republican. Taxpayers “deserve full and complete disclosure under our nation’s securities laws, not the withholding of politically inconvenient information.”

Bankergate: Emails Expose Criminal Financial Dictatorship At Work FOTR 340x1692

Despite denials from the Treasury and the New York Fed that Geithner was involved in the scandal, as the President of the New York Fed at the time, his head now rests firmly on the chopping block where he awaits his fate.

Issa is seeking more information from the New York Fed on the matter, following the statements of general counsel Thomas Baxter, who declared in a letter in defense of Geithner Friday “In my judgment, as the New York Fed’s chief legal officer, disclosure matters of this nature did not warrant the attention of the president.”

“It’s a staggering admission by Mr. Baxter that he felt strong enough that Secretary Geithner wanted him to limit AIG’s disclosures on counterparty payments to the SEC that he says he didn’t even feel a need to bring the details to his boss’ attention,” Issa said in a statement. “This letter raises more questions on the inner-workings of the New York Fed during one of the most pivotal periods in our nation’s history.”

Geithner’s extensive connections to Goldman Sachs also raise serious questions, given that the investment bank directly profited from the AIG payments.

Geithner’s predecessor and Treasury Secretary at the time all of this unfolded, Hank Paulson, also once served as Chairman and Chief Executive Officer for Goldman Sachs, after working for the firm for decades.

Paulson rammed through the bailout of AIG with threats of financial armageddon and physical martial law, claiming he “felt the pain of AIG”, comments for which he was slammed by Republican Congressman Cliff Stearns earlier this year.

AIG’s outstanding debts to Goldman Sachs meant that $13 billion of the money handed over to AIG by Paulson went directly to Goldman Sachs.

Meanwhile, Bear Stearns and Lehman Brothers — both investment banks in direct competition with Goldman Sachs — were not bailed out when bad debt forced them to cease operating under the same circumstances as AIG.

Congressman Stearns pressed Paulson on his conflicts of interest, stating, “Isn’t there some point where you say hey, I’ve got a conflict of interest here, you don’t feel any kind of scintilla of ethics on this thing at all?” Paulson responded by claiming that he got a waiver from the ethics agreement.

Paulson’s appointment, at the height of the financial crisis, of ex-Goldman Sachs executive Neel Kashkari to oversee the distribution of bailout monies also highlights the vast conflict of interest surrounding this scandal.

As the New York Times reported earlier this year, Goldman Sachs effectively bailed itself out. Since that time the bank has been making record profits on trading and now completely dominates the program trading market.

This blatantly criminal activity has led to Goldman being labeled “Financial Terrorists” by analysts. Even Rolling Stone magazine has exposed Goldman Sachs’ persistent role in steering and manipulating the economy over the last century.

At the time of the bailout we warned that the so called financial saviours represented nothing more than the old guard of the corporate elite, the very people responsible for the financial crisis in the first instance.

Judge Andrew Napolitano, appearing on Shepard Smith’s Fox News show last week, stated that he believes Geithner could face a criminal probe:

Barney Frank, a Massachusetts Democrat and chairman of the House Financial Services Committee, said the e-mail exchanges were “troubling” and that he plans to hold congressional hearings on the matter.

Watch Alex Jones breakdown “bankergate” in detail:

Mobilize Now to Oust Bernanke as Fed Chair

Posted in economic tyranny, Economy, International Bankers, New World Order, News, The Federal Reserve with tags , , , , , , , , , , , on January 25, 2010 by truthwillrise

Webster G. Tarpley
Infowars.com
January 23, 2010

 

featured stories   Mobilize Now to Oust Bernanke as Fed Chair  
  geithner and bernanke
   Once Bernanke has been defeated,it will be time to secure the ouster of Treasury Secretary Geithner, the former head of the New York Fed and currently the most visible member of the entire Obama cabinet.
 
   

 

 

 

 

 

 

 

 

 

 

 

 

In the aftermath of the Massachusetts Senate vote last Tuesday, we now have a concrete fighting chance to block the reappointment of Wall Street puppet Ben Bernanke as the chairman of the Federal Reserve Board of Governors by preventing his Senate confirmation next week. This afternoon, Bernanke’s support was eroding hour by hour. The defections from the Bernanke camp feature Democratic senators who are up for reelection this coming November. They have read the tea leaves from Massachusetts, and they know the pitchforks are out, so their response is a mad rush to acquire economic populist and anti-Wall Street cover. The obvious way to do this is to turn against Bernanke and defeat him in the upcoming confirmation vote. Leading the charge late today were Senator Barbara Boxer of California and Russ Feingold of Wisconsin, both endangered Democrats. GOP Senator Corker of Tennessee is now waffling about whether or not he will support Bernanke. The pressure is building on self-styled Democratic economic populists like Sherrod Brown of Ohio to prove that they are worth something. What will Senator-elect Scott Brown do? If he votes for Bernanke, he will have betrayed his voters in less than a week, and will not survive his own re-election campaign in 3 years. Democratic majority leader Harry Reid, succumbing to overwhelming pressure from the Obama White House, announced late this afternoon that he will fall on his sword for Helicopter Ben, but this self-destructive pledge may not survive a weekend in Nevada, where the economic populist pitchforks are as finely honed as anywhere. It is therefore time for all responsible citizens and all persons of good will to mobilize in the days ahead to secure the defeat of Bernanke. Such an event would symbolize the turn of the tide against Wall Street in the struggle to decide who will pay for the current depression — the people or the bankers and hedge fund hyenas.

  • A d v e r t i s e m e n t
  • efoods

We stress that this is a battle which can be won. Two senators, Bunning of Kentucky and Bernie Sanders of Vermont, have placed holds on the Bernanke nomination. This means that a supermajority of 60 votes will be required to bring Helicopter Ben’s nomination to the Senate floor. As of now, no one can know whether these votes will be forthcoming. Republicans have little reason to favor Bernanke over their own careers. The Obama White House, despite its most recent efforts to re-create a populist persona for the chief executive, is foolishly supporting Bernanke — a move which undermines all other economic populist posturing Obama might engage in. Individual Democrats, especially those facing the hour of truth in November, know very well how much Bernanke and his Federal Reserve elitists are hated by Americans. For the moment, this game is therefore out of control and highly vulnerable to the application of mass-based political pressure. If Bernanke can be defeated, the Wall Street-Federal Reserve lockstep will be momentarily broken, and the path to auditing the Fed and, more importantly, nationalizing it as a bureau of the Treasury will be wide open.

Late this afternoon, pro-financier spokesmen on Bloomberg and CNBC were talking about a scenario in which Bernanke would remain no matter what as chairman of the Federal Open Market Committee, the unconstitutional body which sets interest rates in accordance with the wishes of the privately owned Federal Reserve districts, above all the New York one. In this scenario, Donald Kohn, the current Fed Vice Chairman, would take Bernanke’s place as the Chairman of the Board of Governors. Kohn, it will be remembered, is just as odious as Bernanke. About a year ago, Kohn’s impudence, arrogance and elitism were highlighted during a Senate hearing when he indignantly refused to reveal the names of the AIG derivatives counterparties who were receiving some $70 billion of US taxpayer money in return for their worthless and toxic financial derivatives. If Bernanke and Kohn should attempts to maintain their power over the Federal Reserve, meaning in practice short-term interest rates in this country, they will create laboratory conditions for a massive economic populist revolt which could well lead to the seizure and nationalization of the Federal Reserve as a bureau of the US Treasury and a public utility to provide 0% credit for production in the interests of the American people. That would put an end to almost a century of financial insurrection by the Wall Street financiers and their puppets against the Constitution — a blatant illegality which goes back to the days of Woodrow Wilson.

All opponents of the illegal, unconstitutional, and failed Federal Reserve system must now realize that this is the hour of action. It is time for every serious intelligent person to send two e-mails and place two phone calls to the Washington and local offices of their senators demanding that they stop Bernanke. Obama should also be warned that Bernanke is an insult to the American people. Those who have been complaining about the Fed for decades now have a real chance to do something about it. These chances are very rare, but this is the best one in many, many decades. Even Paul Adolph Volcker, who had been responsible for an obscene 22% prime rate three decades ago, had an easier time getting reconfirmed than Bernanke. Once Bernanke has been defeated, it will be time to secure the ouster of Treasury Secretary Geithner, the former head of the New York Fed and currently the most visible member of the entire Obama cabinet. The basic outlines of a criminal indictment for Geithner on tax fraud and securities fraud can be culled from virtually any daily newspaper. Geithner ought to be accompanied on his trip home by White House economic czar Larry Summers, the woman-hating former president of Harvard who managed to destroy about a third of the Harvard endowment as a result of his fanatical devotion to the riskiest of financial derivatives. This and more will be within our reach if Bernanke can be checkmated over the next week or two.

Research related links

  1. Bernanke says deficit is the price of growth
  2. Bernanke Foes Seek to Curtail Fed
  3. Bernanke Begins ‘Thorough Review’ of Fed Disclosure
  4. Bernanke Discards Monetary History With Bear Stearns Bailout
  5. Bernanke Tells Obama Banks Need More Money
  6. High-stakes duel between Rep. Paul and Bernanke intensifies
  7. Bernanke Not Obama to Make “Trillion Dollar Decision”
  8. Time Magazine Names Federal Reserve Chairman Ben Bernanke As Person Of The Year
  9. Reconfirm Bernanke?
  10. Bernanke in denial about looming crisis 2005-2007
  11. Bernanke Says Recession Over. Should You Care?
  12. U.S. Eyes Two-Part Bailout for Banks

Putting Obama on Hold, in a Hint of Who’s Boss

Posted in 1 with tags , , , , , , , , , , , on December 5, 2009 by truthwillrise

By ANDREW ROSS SORKIN

Published: December 14, 2009

President Obama didn’t exactly look thrilled as he stared at the Polycom speakerphone in front of him. “Well, I appreciate you guys calling in,” he began the meeting at the White House with Wall Street’s top brass on Monday.
He was, of course, referring to the three conspicuously absent attendees who were being piped in by telephone: Lloyd C. Blankfein, the chief executive of Goldman Sachs; John J. Mack, chairman of Morgan Stanley; and Richard D. Parsons, chairman of Citigroup.

Their excuse? “Inclement weather,” according to the White House. More precisely, fog delayed flights into Reagan National Airport. (In the “no good deed goes unpunished” category, the absent bankers were at least self-aware enough to try to fly commercial.)

That awkward moment on speakerphone in the White House, for better or worse, spoke volumes about how the balance of power between Wall Street and Washington has shifted again, back in Wall Street’s favor.

Now that Citigroup has given back its bailout money — and Wells Fargo announced late on Monday that it would, too — whatever leverage Washington had over the financial services industry seems to be quickly eroding.
Executive compensation, leverage limits and lending standards were all issues that Washington said it planned to change — and when the taxpayers were the shareholders of these firms, it probably could have done so. But now the White House has been left in the position of extending invitations, rather than exercising its clout. And in the figurative and literal sense, it is getting stood up.
Those who attended the meeting — Jamie Dimon of JPMorgan flew down on a private jet and didn’t take any heat for it — seemed to talk a good game, but even President Obama acknowledged they might have been just toying with him.

“The problem is there’s a big gap between what I’m hearing here in the White House and the activities of lobbyists on behalf of these institutions or associations of which they’re a member up on Capitol Hill,” he said after the discussion.
Are we making too much of this meeting and its grounded attendees?

The meeting was always just going to be political theater. Wall Street bankers were supposed to play their part on the public stage in Washington, and submit to a scolding from the president about bonuses and the need to start lending more to help get the economy moving.

But inevitably public perception will issue its harsh ruling, and it goes something like this: If the meeting were really that important to Mr. Blankfein, Mr. Mack and Mr. Parsons, they would have found a way to get there.

They would have left the night before, or they would have flown out at the crack of dawn, or better yet, taken Amtrak (I called customer service, and the Acela was running only a couple of minutes late).

In fairness, there is little question that they wanted to be there and seemed genuinely disappointed they couldn’t make it. (You could hear it in Mr. Mack and Mr. Blankfein’s voice when they got on the call. “Mr. President, we’re upset we’re not able to be there, but we’re on line with you now,” Mr. Mack said. “It’s certainly not for a lack of effort,” Mr. Blankfein quickly followed up.)

But this missed meeting clearly didn’t help their case.
After all, they sure hoofed it down there last year, when Henry M. Paulson Jr. ordered them to meet him in Washington with less than 24 hours of notice. Most of them got there early, and went home with $10 billion to $25 billion of taxpayer money.

Upon hearing the news Monday morning of the airplane delays, Mark Haines, an anchor at CNBC, went on the air and, in a Howard Beale moment, said what many Americans were probably thinking: “These guys are such little girls! Give me a break. What a bunch of wimps! Thanks for all that taxpayer money … and, ah, gee, there are delays at the airport!”

But extra effort may have been a lot to ask given the blasting headwinds they were flying into down in Washington.

President Obama’s “60 Minutes” interview Sunday night eviscerating Wall Street laid down the not-so-welcome mat. “I did not run for office to be helping out a bunch of fat-cat bankers,” he said.

Inside the Obama administration, there were bruised feelings about the need for a conference call to have a meeting.
“It was pretty nervy,” one staff member told me.
That’s not to say that Mr. Blankfein, Mr. Mack and Mr. Parsons have not been trying to be constructive.
Mr. Mack has been particularly outspoken about the need for serious financial reform on Wall Street. Mr. Parsons, too, has been trying to act as a liaison with Washington and has not pushed back on legislation.

And Mr. Blankfein, who is under perhaps the hottest spotlight, has been saying many of the right things, though he probably can’t say enough of them at the moment.
But as President Obama has said, it is not what those leaders say to him that really matters.

“The way I see it, having recovered with the help of the American government and the American taxpayers, our banks now have a greater obligation to the goal of a wider recovery, a more stable system, and more broadly shared prosperity,” Mr. Obama said.

There’s an expression that many bankers already know, and might want to keep in mind if they are summoned to Washington again. The saying is often trotted out on Wall Street when people need to be reminded of the importance of getting on a plane and seeing a client: “You can’t fax a handshake.”

Fall of the Republic HQ full length version

Posted in Alex Jones, Attack on Freedom, economic tyranny, False Flag Terror, Fiat Currency, International Bankers, New World Order, News, Police State/Martial Law, Ron Paul, Shadow Government, The Constitution, The Federal Reserve, Truth/Freedom, Tyranny, Unconstitutional with tags , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , on December 5, 2009 by truthwillrise

Order the DVD at: http://infowars-shop.stores.yahoo.net…
Fall Of The Republic documents how an offshore corporate cartel is bankrupting the US economy by design. Leaders are now declaring that world government has arrived and that the dollar will be replaced by a new global currency.

President Obama has brazenly violated Article 1 Section 9 of the US Constitution by seating himself at the head of United Nations’ Security Council, thus becoming the first US president to chair the world body.

A scientific dictatorship is in its final stages of completion, and laws protecting basic human rights are being abolished worldwide; an iron curtain of high-tech tyranny is now descending over the planet.

A worldwide regime controlled by an unelected corporate elite is implementing a planetary carbon tax system that will dominate all human activity and establish a system of neo-feudal slavery.

The image makers have carefully packaged Obama as the world’s savior; he is the Trojan Horse manufactured to pacify the people just long enough for the globalists to complete their master plan.

This film reveals the architecture of the New World Order and what the power elite have in store for humanity. More importantly it communicates how We The People can retake control of our government, turn the criminal tide and bring the tyrants to justice.
A film by Alex Jones.

You Tube Pulls Hundreds Of Ron Paul Videos

Posted in Attack on Freedom, New World Order, News, Paul Watson, Ron Paul, Stupid Government Tricks with tags , , , , , , , , , on August 9, 2009 by truthwillrise

Popular C-Span Junkie user channel suspended, 6400 videos gone

You Tube Pulls Hundreds Of Ron Paul Videos 120509top

Paul Joseph Watson
Prison Planet.com
Wednesday, August 5, 2009

You Tube has expanded its zealous copyright crusade by suspending the popular C-Span Junkieuser channel, and in doing so has pulled hundreds of viral Ron Paul videos, which are now completely dead.

The C-Span Junkie user channel, a non-partisan archive of short clips taken from C-Span broadcasts of events in the Congress and the Senate, has been the home of the vast majority of You Tube videos you have seen of Bernanke, Geithner, Paulson and others being confronted in Congress, as well as Ron Paul’s speeches on the House floor. A total of more than 6400 videos in all have been pulled, hundreds of which featured the Texan Congressman.

Whether or not C-Span itself requested that You Tube pull the channel is not known, but it is clearly in the public interest and constitutes fair use to show a clip less than 10 minutes in length of what the people who are supposedly our Representatives are saying in Congress on our behalf.

As we have highlighted before, You Tube arbitrarily suspends accounts based on flimsy copyright claims that aren’t even properly investigated.

We had our own You Tube account suspended following a copyright complaint from a separate party who didn’t even own the copyright on the original material. In addition, the copyright claim was clearly erroneous as it was based on the fact that Alex Jones held up a printed version of an online newspaper story for a few seconds on camera. The channel was eventually reinstated after You Tube received a flood of complaints.

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You Tube Pulls Hundreds Of Ron Paul Videos 150709banner2

“I don’t know if you can imagine what it’s like to in a moment see 6400 videos gone,” writes the channel owner on the C Span Junkie website, “Figure 6400 hours (easily) poof GONE! I did this for the common good and now it all gone.”

The channel has now been replaced with a new account but it’s unlikely to survive long if the owner dares to post anything of substance.

Truth is no longer acceptable on You Tube as it transforms itself into a pale reflection of Hulu, a site owned and operated by NBC Universal (GE) and Fox Entertainment Group (News Corp), that is to say a joint venture by a corporation owned by a death merchant (GE manufactures attack helicopters and jet engines) and a disinformation platform owned by a notorious neocon, Rupert Murdoch.

In the Hulu-ized universe, there is no room for truth or alternative media — all channels will contain the same schlock and mindless pablum already available on cable and broadcast television.

Videos of members of Congress grilling Bernanke and his cohorts about auditing the Fed and finding out where trillions in missing TARP funds has disappeared to just aren’t part of the sanitized and lobotomized video landscape that You Tube wants to portray.

If you post videos about people eating each other’s vomit or clips of plastic bimbos with their breasts hanging out then you’ll be left alone, but God forbid should anyone try to give the country a window on what’s actually happening in Congress and what their own Representatives are talking about – in that case your thought crimes will immediately be censored and removed.

Paulson reveals US concerns of breakdown in law and order

Posted in economic tyranny, Economy, International Bankers, New World Order, News, Stupid Government Tricks, The Federal Reserve, Tyranny, Unconstitutional with tags , , , , , , , , , on July 17, 2009 by truthwillrise
By Stephen Foley in New York
The Bush administration and Congress discussed the possibility of a breakdown in law and order and the logistics of feeding US citizens if commerce and banking collapsed as a result of last autumn’s financial panic, it was disclosed yesterday. Making his first appearance on Capitol Hill since leaving office, the former Treasury secretary Hank Paulson said it was important at the time not to reveal the extent of officials’ concerns, for fear it would “terrify the American people and lead to an even bigger problem”.

 Mr Paulson testified to the House Oversight Committee on the Bush administration’s unpopular $700bn (£426bn) bailout of Wall Street, which was triggered by the failure of Lehman Brothers last September. In the days that followed, a run on some of the safest investment vehicles in the financial markets threatened to make it impossible for people to access their savings.

 Paul Kanjorski, a Pennsylvania Democrat, asked Mr Paulson to reveal details of officials’ concerns, which were relayed to Congress in hasty conference calls last year. The calls included discussion of law and order and whether it would be possible to feed the American people, and for how long, according to Mr Kanjorski.

 “In a world where information can flow, money can move with the speed of light electronically, I looked at the ripple effect, and looked at when a financial system fails, a whole country’s economic system can fail,” Mr Paulson said. “I believe we could have gone back to the sorts of situations we saw in the Depression. I try not to use hyperbole. It’s impossible to prove now since it didn’t happen.”

 The Oversight committee is investigating the takeover of Merrill Lynch by Bank of America, a deal forged in the desperate weekend that Lehman Brothers failed, and which later required government support because of Merrill’s spiralling losses.

 Mr Paulson defended putting pressure on Bank of America when it had last-minute doubts about the deal in December. Not to have done so could have rekindled the “financial havoc” the bailout had calmed.