Bankergate:Emails Expose Criminal Financial Dictatorship at Work

[samplegirl]

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

Steve Watson
Prisonplanet.com
Monday, Jan 11, 2010

Explosive 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.”

http://truthnews.us/

[Slit Skirt]

1. these people are the real terrorists

as Thom Hartman would say: They held a gun to their head and said pay us or we'll blow us up and take everything down with us.
that's a paraphrase...but the essence is right on

[jimshoes]

2. The next time one of these thieving banksters

uses that "We're too big to fail" arguments, we should just tell them to prove it. Go ahead and fail, we'll sort it out later. No good rotten scum. :mad:

[JoeyT]

3. Don't worry, we'll continue looking forward.

All that stuff was in the past. We have to focus on the future!

By which I mean: If we can't be bothered prosecuting people for war crimes, outing CIA agents, treaty violations, and torture, we're not about to prosecute someone over money, no matter how much it was.

[upi402]

4. "Well we have to leave it there" -TV News

Move along folks, nothing to see here...