Bankergate

2010-01-13 12:37:52

#1

SonderKommando: Eat, Lift, Grow, Repeat....; +564|6950|The darkside of Denver

Surprised no one is discussing this one yet here. So apparently the New York Federal Reserve Bank and its Lawyers decided not to divulge to the public and the Federal Government their decision to pay 100 cents on the dollar for toxic CDS (credit default swaps) which had little to no value. Emails between the New York Fed lawyers and AIG officials have been leaked to members of the Congress. The Fed e-mails on the issue were released to the press by Rep. Darrell Issa, R-Calif., ranking minority member of the Oversight panel. Hopefully Gheithner will have to testify before the house and answer questions regarding this matter as he was acting chairman of the New York Fed during the time this cover-up occurred.

http://money.cnn.com/news/newsfeeds/art … RTUNE5.htm

http://www.property-casualty.com/News/2 … oena-.aspx

Last edited by SonderKommando (2010-01-13 12:38:37)

2010-01-13 12:43:43

#2

Phrozenbot: Member; +632|6906|do not disturb

Timmy needs to go. He's incompetent, a liar, and his policies are only benefiting the banks while we get burned. I never liked him, even before he was Treasury.

edit: oops nvm that.

Last edited by Phrozenbot (2010-01-13 12:45:46)

2010-01-13 12:49:17

#3

SonderKommando: Eat, Lift, Grow, Repeat....; +564|6950|The darkside of Denver

Phrozenbot wrote:
Timmy needs to go. He's incompetent, a liar, and his policies are only benefiting the banks while we get burned. I never liked him, even before he was Treasury.

edit: oops nvm that.

agreed, it seems like its a revolving door between Goldmans, the Fed, and the Treasury. I'm rather sick of them ripping us off while lining their own pockets.

2010-01-13 13:02:38

#4

Phrozenbot: Member; +632|6906|do not disturb

SonderKommando wrote:
Phrozenbot wrote:
Timmy needs to go. He's incompetent, a liar, and his policies are only benefiting the banks while we get burned. I never liked him, even before he was Treasury.

edit: oops nvm that.
agreed, it seems like its a revolving door between Goldmans, the Fed, and the Treasury. I'm rather sick of them ripping us off while lining their own pockets.

I'm not a conspiracy theorist, but if you look at how many ex-Goldman boys work for the gov, especially overseeing TARP, you'll see who really wags the dog. AIG wasn't saved because they thought the whole derivative markets would collapse, potentially killing all counter-parties (even the Treasury admits they really didn't believe this). They saved them because Goldman Sachs made bad bets through them and without immediate capital, and they were like 48 hours from death I think at one point, they would have gone bankrupt. Timothy is a complete tool for the banks.

Lehman Brothers: Old time rival to Goldman Sachs. Allowed to fail.

Morgan Stanley: Ran by David Thane, former Goldman Sach's boy. Bailed out by gov.

More, a lot more.

Ben Bernanke, Henry Paulson, and a few others are criminals in my opinion too.

Last edited by Phrozenbot (2010-01-13 13:07:02)

2010-01-13 13:21:42

#5

Jay: Bork! Bork! Bork!; +2,006|5649|London, England

Phrozenbot wrote:
SonderKommando wrote:
Phrozenbot wrote:
Timmy needs to go. He's incompetent, a liar, and his policies are only benefiting the banks while we get burned. I never liked him, even before he was Treasury.

edit: oops nvm that.
agreed, it seems like its a revolving door between Goldmans, the Fed, and the Treasury. I'm rather sick of them ripping us off while lining their own pockets.
I'm not a conspiracy theorist, but if you look at how many ex-Goldman boys work for the gov, especially overseeing TARP, you'll see who really wags the dog. AIG wasn't saved because they thought the whole derivative markets would collapse, potentially killing all counter-parties (even the Treasury admits they really didn't believe this). They saved them because Goldman Sachs made bad bets through them and without immediate capital, and they were like 48 hours from death I think at one point, they would have gone bankrupt. Timothy is a complete tool for the banks.

Lehman Brothers: Old time rival to Goldman Sachs. Allowed to fail.

Morgan Stanley: Ran by David Thane, former Goldman Sach's boy. Bailed out by gov.

More, a lot more.

Ben Bernanke, Henry Paulson, and a few others are criminals in my opinion too.

Read:

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2010-01-13 13:33:38

#6

SonderKommando: Eat, Lift, Grow, Repeat....; +564|6950|The darkside of Denver

Seriously this is good news though, I'm anxious to hear what he has to say to the house banking committee when he testifies.. Im also anxious to see the results of HR1207 if it ever makes it through both houses. We are close to unraveling the sham that TARP was.

2010-01-13 14:13:39

#7

Phrozenbot: Member; +632|6906|do not disturb

John, if you recommended it it's probably a good read. I recently ordered American Homicide, so I got two books to look forward too

Is Ron Paul still voting for his bill? I really haven't been following what he has been doing lately. I just remember reading something about how his bill got watered down and had a bunch of unnecessary stuff added to it making him feel bad about it.

2010-01-13 14:17:32

#8

Jay: Bork! Bork! Bork!; +2,006|5649|London, England

Phrozenbot wrote:
John, if you recommended it it's probably a good read. I recently ordered American Homicide, so I got two books to look forward too

Is Ron Paul still voting for his bill? I really haven't been following what he has been doing lately. I just remember reading something about how his bill got watered down and had a bunch of unnecessary stuff added to it making him feel bad about it.

It's not so much that it's a good book or that I agree with it. It's written from the perspective that the bank bailouts were ultimately necessary. He calls those that feel the bailouts shouldn't have occurred, and that banks should've been allowed to fail, fundamentalists. While I can see his points, I ultimately disagree with his premise that kicking the can down the line and having the banks fail another day is the best practice.

"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat

2010-01-13 14:21:42

#9

Phrozenbot: Member; +632|6906|do not disturb

JohnG@lt wrote:
Phrozenbot wrote:
John, if you recommended it it's probably a good read. I recently ordered American Homicide, so I got two books to look forward too

Is Ron Paul still voting for his bill? I really haven't been following what he has been doing lately. I just remember reading something about how his bill got watered down and had a bunch of unnecessary stuff added to it making him feel bad about it.
It's not so much that it's a good book or that I agree with it. It's written from the perspective that the bank bailouts were ultimately necessary. He calls those that feel the bailouts shouldn't have occurred, and that banks should've been allowed to fail, fundamentalists. While I can see his points, I ultimately disagree with his premise that kicking the can down the line and having the banks fail another day is the best practice.

Couldn't agree more. Kicking the can seems to be a sport the government is quite good at.

2010-01-13 16:24:45

#10

SonderKommando: Eat, Lift, Grow, Repeat....; +564|6950|The darkside of Denver

Phrozenbot wrote:
John, if you recommended it it's probably a good read. I recently ordered American Homicide, so I got two books to look forward too

Is Ron Paul still voting for his bill? I really haven't been following what he has been doing lately. I just remember reading something about how his bill got watered down and had a bunch of unnecessary stuff added to it making him feel bad about it.

It did get castrated in comitee but they were able to pass an ammendment to the bill giving it back some steam. I'll check that book out John, I've got two about Afghaniland to read now ATM...

2010-01-13 16:32:56

#11

Turquoise: O Canada; +1,596|6696|North Carolina

Yep... the Fed Reserve needs to go. This is just more fuel for the fire.

2010-01-13 17:03:05

#12

Mr.Dooomed: Find your center.; +752|6619

U.S Treasury Notes ftw

https://www.viewzone.com/money.silver.jpg

Nature is a powerful force. Those who seek to subdue nature, never do so permanently.

2010-01-13 17:39:41

#13

SonderKommando: Eat, Lift, Grow, Repeat....; +564|6950|The darkside of Denver

Mr.Dooomed wrote:
U.S Treasury Notes ftw

http://www.viewzone.com/money.silver.jpg

/flamesuit on

JFK tried this and got whacked.

2010-01-13 17:47:18

#14

Phrozenbot: Member; +632|6906|do not disturb

Mr.Dooomed wrote:
U.S Treasury Notes ftw

http://www.viewzone.com/money.silver.jpg

I have a few of these. Some are in red ink. Maybe I should take some pics.

2010-01-13 21:32:00

#15

FEOS: Bellicose Yankee Air Pirate; +1,182|6702|'Murka

Isn't this old news?

“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein
Doing the popular thing is not always right. Doing the right thing is not always popular

2010-01-13 21:50:08

#16

Phrozenbot: Member; +632|6906|do not disturb

How'd it go then? It's news to me. Shady stuff going down at the treasury? That's a bit old.

2010-01-14 05:38:36

#17

SonderKommando: Eat, Lift, Grow, Repeat....; +564|6950|The darkside of Denver

FEOS wrote:
Isn't this old news?

No this just came out last Thursday.

2010-01-14 05:40:31

#18

FEOS: Bellicose Yankee Air Pirate; +1,182|6702|'Murka

SonderKommando wrote:
FEOS wrote:
Isn't this old news?
No this just came out last Thursday.

I could've sworn I heard about the Fed buying AIG securities at full price months ago and that there should have been a shit storm over it, but that there wasn't.

“Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid.”
― Albert Einstein
Doing the popular thing is not always right. Doing the right thing is not always popular

2010-01-14 08:01:43

#19

SonderKommando: Eat, Lift, Grow, Repeat....; +564|6950|The darkside of Denver

Well apparently the money didn't go to AIG, it went to Sachs, Duetche(sp?) bank, a French bank, and a English bank I believe. The fed told aig to withold that little tidbit.

2010-01-14 17:08:24

#20

SonderKommando: Eat, Lift, Grow, Repeat....; +564|6950|The darkside of Denver

Well apparently the money didn't go to AIG, it went to Sachs, Duetche(sp?) bank, a French bank, and a English bank I believe. The fed told aig to withold that little tidbit.

2010-01-15 04:48:11

#21

ruisleipa: Member; +149|6513|teh FIN-land

Mr.Dooomed wrote:
U.S Treasury Notes ftw

http://www.viewzone.com/money.silver.jpg

If you went to the treasury would they actually give you the silver?

2010-01-15 07:17:03

#22

Phrozenbot: Member; +632|6906|do not disturb

ruisleipa wrote:
Mr.Dooomed wrote:
U.S Treasury Notes ftw

http://www.viewzone.com/money.silver.jpg
If you went to the treasury would they actually give you the silver?

No not anymore. You could have when we were on a gold standard.

BF2S Forums Bankergate

Phrozenbot wrote:

SonderKommando wrote:

Phrozenbot wrote:

Phrozenbot wrote:

SonderKommando wrote:

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Phrozenbot wrote:

JohnG@lt wrote:

Phrozenbot wrote:

Phrozenbot wrote:

Mr.Dooomed wrote:

Mr.Dooomed wrote:

FEOS wrote:

SonderKommando wrote:

FEOS wrote:

Mr.Dooomed wrote:

ruisleipa wrote:

Mr.Dooomed wrote:

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