Monday, November 10, 2008

Max Keiser: Paulson and the Bankers "Financial Terrorists"


Where the hell is Congress? Aren't they supposed to protect our Constitution and our currency?

Who are the Architects of Economic Collapse?

Michael Chossudovsky of Global Research gives a rundown of the global economic collapse and names the chief engineers behind it:

In a bitter irony, the engineers of financial disaster are now being considered by President-Elect Barack Obama's Transition Team for the position Treasury Secretary:

Lawrence Summers played a key role in lobbying Congress for the repeal of the Glass Steagall Act. His timely appointment by President Clinton in 1999 as Treasury Secretary spearheaded the adoption of the Financial Services Modernization Act in November 1999. Upon completing his mandate at the helm of the US Treasury, he became president of Harvard University (2001- 2006).

Paul Volker was chairman of the Federal Reserve Board in the l980s during the Reagan era. He played a central role in implementing the first stage of financial deregulation, which was conducive to mass bankruptcies, mergers and acquisitions, leading up to the 1987 financial crisis.

Timothy Geithner is CEO of the Federal Reserve Bank of New York, which is the most powerful private financial institution in America. He was also a former Clinton administration Treasury official. He has worked for Kissinger Associates and has also held a senior position at the IMF. The FRBNY plays a behind the scenes role in shaping financial policy. Geithner acts on behalf of powerful financiers, who are behind the FRBNY. He is also a member of the Council on Foreign Relations (CFR)

Jon Corzine is currently governor of New Jersey, former CEO of Goldman Sachs.

I will add to this list former Fed Chair Alan Greenspan, current Fed Chair Ben Bernanke, and current Treasury Secretary Henry Paulson. I must not also forget their accomplices President George W. Bush, Vice President Dick Cheney, and all members of Congress who have failed to hold the Federal Reserve accountable for their 95 years of destructive monetary policy.

Outrage: Fed Refuses to Identify $2 Trillion in Bailout Loans

The Federal Reserve has deceived the American people yet again. From Bloomberg News:
The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

Bloomberg News has filed a lawsuit against the Fed to force disclosure of the recipients of the loans. I remember opponents of the bailout predicting that the failure to mandate full disclosure would lead to all sorts of corruptions.

It turns out that the Treasury never intended to fully disclose how much private firms will be paid for their services in receiving the bailout money. Back in October, Paulson blacked out key sections of the first update on the bailout the government provided to the public. You can find the copy of the bailout report on Bailoutsleuth.com.

$2 Trillion!!! Of taxpayer money!!!

I'll leave you with the wise words of Ron Paul and Glenn Beck: