January 27, 2010
Rep. Darrell Issa, ranking member of the House Oversight and Government Reform Committee, has the goods on Treasury Secretary Tim Geithner. Earlier this month, Issa received emails proving without a shadow of a doubt that the New York Fed under Geithner’s leadership withheld documents and delayed disclosures on AIG’s swindle operation with Goldman Sachs, Deutsche Bank, and other international bankster criminal organizations.
“The New York Fed took over negotiations between AIG and the banks in November 2008 as losses on the swaps, which were contracts tied to subprime home loans, threatened to swamp the insurer weeks after its taxpayer-funded rescue. The regulator decided that Goldman Sachs and more than a dozen banks would be fully repaid for $62.1 billion of the swaps, prompting lawmakers to call the AIG rescue a ‘backdoor bailout’ of financial firms,” Bloomberg reported on January 7.
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.
“It appears that the New York Fed deliberately pressured AIG to restrict and delay the disclosure of important information,” said Issa at the time. Taxpayers “deserve full and complete disclosure under our nation’s securities laws, not the withholding of politically inconvenient information.”
Treasury spokeswoman Meg Reilly said Geithner knew nothing. He was recused from the criminal operation to steal billions and fork it over to Goldman and the banksters.
If you believe the head of the New York Fed was out of the loop on this scam I have a bridge to sell you.
Darrell Issa doesn’t buy it either. “If you were recused, where is the document, what were you recused from?” Issa told Bloomberg earlier today. “You didn’t stop going to the office, so your recusal seems to be after the fact and undescribed.”
Geithner is on the hot seat today about his role in the $182.3 billion heist. Issa warns that Geithner will attempt to weasel out of complicity by citing the undocumented recusal. “He is going to be able to say, ‘I was recused from what I didn’t want to know about,’ or, let me rephrase that, ‘what I didn’t want my fingerprints on,’” Issa said.
The bankster bailout will ultimately cost the American people (and their children and their children’s children) trillions. “The amount of US taxpayer money committed to bailouts over the last 12 months by far exceeds the combined cost of major historical events dating back over 200 years,” writes Steve Watson. “The combined amount spent, lent, consumed, borrowed, printed, guaranteed, assumed or otherwise committed to bailouts by the government from March 2008 to March 2009 amounts to some $15 TRILLION.”
The cost of World War Two, the race to the moon, the New Deal, and the Iraq, Vietnam and Korean wars combined does not come close to the amount spent so far in just 12 months on the bailout of a handful of privately owned offshore corporations, Watson notes.
All of this debt into perpetuity has a purpose beyond making a gaggle of banksters rich beyond their wildest dreams. It is designed to crash the world economy and take down the middle class in the United States. It is designed to sell your children into bondage to the banksters. It is part of a plan to impose martial law and a high-tech control grid in response to unfolding social and political chaos directly related to the economic implosion.
The global elite are now demanding world government in response to the manufactured crisis unleashed by the Federal Reserve with the complicity of Geithner, Hank Paulson, Ben Bernanke and their partners in crime at Goldman Sachs et al.
It remains to be seen if Tim Geithner will be exposed and ultimately arrested, forced to do the perp walk in an orange jumpsuit, and slapped in prison for grand larceny of such a magnitude it staggers the imagination.