Secret Banking Cabal Emerges From AIG Shadows (Bloomberg)

[Dover]

Commentary by David Reilly

Jan. 29 (Bloomberg) -- The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.

Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials.

We’re talking about the Federal Reserve Bank of New York, whose role as the most influential part of the federal-reserve system -- apart from the matter of AIG’s bailout -- deserves further congressional scrutiny.

The New York Fed is in the hot seat for its decision in November 2008 to buy out, for about $30 billion, insurance contracts AIG sold on toxic debt securities to banks, including Goldman Sachs Group Inc., Merrill Lynch & Co., Societe Generale and Deutsche Bank AG, among others. That decision, critics say, amounted to a back-door bailout for the banks, which received 100 cents on the dollar for contracts that would have been worth far less had AIG been allowed to fail...cont'd


http://www.businessweek.com/news/2010-01-28/secret-banking-cabal-emerges-from-aig-shadows-david-reilly.html

[jgraz]

1. Kick

[donco]

3. kick as I go

out the door to costco for more peanut butter.

[truedelphi]

2. And even more incredulous than the fact that this Cabal controls

The Land Of Money (both here and abroad,) the testimony this week by Geithner and Paulson demonstrates how two of the most powerful members of this Cabal did not have to participate in the arrangements that went down between AIG and Our Federal Government. (These arrangements set AIG up so that it in effect became a Pass Through for the financial firm of Goldman Sachs.)

At least, that is what Geithner and Paulson would have us believe!

[Skink]

4. This time the plunge protection team needed a bailout.

[katty]

13. exactly

[katty]

14. nope we're not crazy...the veil is being lifted and more to come

[naaman fletcher]

5. kick. nt.

[glitch]

6. Businessweek site says resource not found. A different link

http://bx.businessweek.com/us-economy/secret-banking-cabal-emerges-from-aig-shadows-david-reilly/11174292606872606438-3ec4416e96b0bcde9d4b3b5b9fa468a4/

edit: the read full article button will take you to the original article.

[nashville_brook]

7. kickety.

[Blue Owl]

8. I'll take Fascist Entities Emerging From The Shadows for $500, Alex

I'm sure this won't be the first.

[earth mom]

9. Meanwhile people here on DU think Obama is gonna kick the banksters a$$es

while he still employs Geithner, Bernanke and Summers.

Puhleeze. :eyes:

[2 Much Tribulation]

10. given heavy anti-conspiracy theory, maybe Yes - real conspiracies have a free hand (protected)

Nobody will be likely to believe it when a real conspiracy happens because of all the anti-conspiracy pressure.

We just had a real conspiracy admitted to in the NY Times this past weekend - a 10 year plan to destroy the nation's campaign finance laws, just nearly completed with Citizens United.

[Dover]

11. Link here >

http://www.businessweek.com/news/2010-01-29/secret-banking-cabal-emerges-from-aig-shadows-david-reilly.html

[Dover]

12. The Cabal - Some behind the scenes names/faces

and an enormous lobbying body that owns/employs many in Washington:


The Financial Services Roundtable
Their motto? "Impacting Policy. Impacting People."

Time for them to feel our impact.


The first of The Financial Services Roundtable's predecessor organizations, the Association of Reserve City Bankers, was formed in 1912. The 1956 Bank Holding Company Act led to the 1958 formation of another independent organization, the Association of Registered Bank Holding Companies. The two organizations merged in July 1993 and became The Bankers Roundtable in October 1993. The Board of Directors, in a move that reflected profound industry momentum and anticipated Congressional passage of financial modernization legislation, decided in April 1999 to broaden the mission to represent integrated financial service providers. The Board simultaneously strengthened the Roundtable's impact as a "major player" on Capitol Hill and with the regulators. In early 2000, the first members from the securities, investment, and insurance sectors joined their banking brethren as founding members of The Financial Services Roundtable.

Members:
http://www.fsround.org/about/member_companies.htm

Board of Directors:
http://www.fsround.org/about/board.htm

[bertman]

15. It's only a secret to those who want to be blind to it. Much has been written about the folks

who control the financial industries and our economy.

If you want to read a thorough examination of some of the inside players and how they've set up their control structure, read "Family of Secrets" by Russ Baker.

This is not something that happened overnight or even just here in America. It's been going on for centuries. These folks know what they are doing. Calling them a cabal really does trivialize their role; although, it's less sensational than calling them our Overlords, which they are.

Rec