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Goldman, Morgan to Become Bank Holding Companies

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posted on Sep, 22 2008 @ 12:02 AM
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reply to post by yellowcard
 



A work colleague of mine is retired from the US Navy. One of his long-time service mates is still attached to the Pentagon as a civilian IT consultant.

This gentleman is currently on assignment in eastern Europe, attempting to "back-track" the recent rash of cyber attacks against the US: specifically against our military, communications and financial systems.


Since both my colleague and myself are involved the (state) government financial sector, we are sometimes provided "unofficial, unnclassified", but not widely (publicaly) distributed infornmation regarding "interesting" developments in the financial and IT sectors.


It also doen't hurt (I assume) that I have also had some (mostly past, and definitely indirect) experience/involvement in an aerospace project under-written by the USAF.

I do not expect you to take my word for this last bit of info, YellowCard; by all means, look up my prior posts.


I do not, in any way claim any "Special, Top Secret information".


I DO encourage Everyone to rigorously look beyond the point our learned leaders are pointing the finger of blame.

The alliance between Government and Finance is much more intimate than either would have us believe. Money confers Power. Power garners Wealth. This is an Axiom as old as human History.


As I pointed out in my prior post on this thread; Many in the US are all too willing to flout the trimuph of the US over the former Soviet Union in the 1980's.

That was NOT a military victory. That was a MONETARY victory.


Is it so suprising that the defeated would be motivated to learn the techniques of their successors?


Is it difficult to believe that they, in turn would seek to turn the tables on their oppenents at their first opportunity?


Are we so deluded by our own greed to realize how easy it would have been turn that greed into the very weapon we would Never suspect could be turned against us, by those we had thought defeated?


Are we so blind?


In Chess, one often sacrifices a pawn, or even a a Queen, to gain a checkmate.


The Russians are expert chess players.




posted on Sep, 22 2008 @ 12:13 AM
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So are you saying the Russians are behind it?



posted on Sep, 22 2008 @ 12:26 AM
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The trend here is obvious: centralization and consolidation. The fact that it's all happening so fast and in secret... I'd say we have a coup on our hands. This is an old-world power-grab in my opinion.

Ladies and gentlemen step right up and be amazed! Come one, come all! Witness the amaaaaazing brothers Paulson and Bernanke as they make your money disappear, produce trillions in debt, circumvent legitimate government, betray the public, and get away like thieves in the night! Yes folks this is a one-time only show! Don't miss it for all the subprimes at Phoney and Fraudie!

And no end in sight.



posted on Sep, 22 2008 @ 12:26 AM
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Originally posted by MatrixBaller04
So are you saying the Russians are behind it?


Imho, the Russians are frying other fish at this moment, plus it's not like they're swimming in money these days. The Chinese, meh, their interests are more aligned with a strong US economy for a myriad of reasons.

This smells fifth columnish to me. Someone's trying to get things done in case the Democrats sweep. Hard to say at this moment but this looks internal.



posted on Sep, 22 2008 @ 01:21 AM
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IMHO this is home brewed.


The Gramm-Leach-Bliley Act, also known as the Gramm-Leach-Bliley Financial Services Modernization Act, Pub. L. No. 106-102, 113 Stat. 1338 (November 12, 1999), is an Act of the United States Congress which repealed part of the Glass-Steagall Act, opening up competition among banks, securities companies and insurance companies. The Glass-Steagall Act prohibited a bank from offering investment, commercial banking, and insurance services.

The Gramm-Leach-Bliley Act (GLBA) allowed commercial and investment banks to consolidate. For example, Citibank merged with Travelers Group, an insurance company, and in 1998 formed the conglomerate Citigroup, a corporation combining banking and insurance underwriting services. Other major mergers in the financial sector had already taken place such as the Smith-Barney, Shearson, Primerica and Travelers Insurance Corporation combination in the mid-1990s. This combination, announced in 1993 and finalized in 1994, would have violated the Glass-Steagall Act and the Bank Holding Acts by combining insurance and securities companies, if not for a temporary waiver process [1]. The law was passed to legalize these mergers on a permanent basis. Historically, the combined industry has been known as the financial services industry.

SOURCE

So basically the roots for todays mess started under the Clinton admin. When congress allow the banks to regulate themselves and take the government out of the loop.


WHAT'S SO SCARY about the entire mess is that the guys (they are mostly men, white men) who created the mess, or were a part of its creation, are the same guys who are in charge of a solution. Take Ben Bernanke, the Fed chairman: In 2004, he talked about the "new moderation" in, and the "stability" of, the financial system and economic life. Hank Paulsen, former CEO of Goldman Sachs, who was so much a part of the mayhem that is unraveling and a strong proponent of further deregulation, is the man at the helm of the Treasury Department. These are the people that are devising the new policies that are supposed to squelch the hemorrhage. Most of their advisers come from the financial world, a bunch of them directly from Goldman Sachs. They created the problems with the clapping approval of Congress (in utter bipartisanship, always happy to rake in huge sums of money from Wall Street) and all the White House tenants, all the way back to Ronald Reagan and Jimmy Carter. In other words, the people responsible for the problems (though you too, dear readers, share responsibility -- at least those of you who have lived on credit for the past three decades and repeatedly voted for those bums) are in charge of the solution. Talk about the fox guarding the henhouse!

SOURCE thanks SD i knew this would come in handy. everyone should really read the whole thing from beginning to end a few times.

So the same people that engineered this mess are now in charge of fixing it.
This bailout Bill that was leaked Saturday DRAFT HERE will cover up their tracks and in turn it will hand over the keys to this Country to Ben Bernanke, the Fed chairman. All the while pushing the middle class and lower class into slavery for a generation or more to pay for the cover up. At the same time we have a small percentage of congress saying they want more protections for the tax payers But an even larger percentage saying the will give Bush what he wants which is this Bailout bill. Bernanke will make all the financial institutions a federal agency and all the employees federal agents.

So now we have it. Bush inherited this crisis in waiting from Clinton. Paulson Writes the legislation that Bush is trying to push through Congress, To give Bernanke All the power that the Fed Needs to take over this country. Now will Bernanke crown himself King or will he give the crown to Bush? After the dust Settles Paulson will be given his reward for his role in this COUP. a pine box and a national funeral.

Sorry SD i know you just became a citizen of this once great country and this is the present you get wish it could be better






[edit on 9/22/2008 by Mercenary2007]


[edit on 9/22/2008 by Mercenary2007]



posted on Sep, 22 2008 @ 01:29 AM
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reply to post by MatrixBaller04
 


Perhaps in the way that Richleau (sp?) was the power behind the throne of France.

China holds much of the "securitized mortgage" debt generated by the recent US housing boom and, as an emergent industrial power-house, China also is intimately tied to the American consumer's ability to buy its cheap products.


However, China knows, that to fully realize its rising potential as a productive nation, it must secure vast sources of cheap energy, namely petroleum and natural gas. Hence China's current interest in Iran.

It does not hurt that China and Iran have have had a commercial relationship streching back a millenium; since the old Silk Road days.



Russia, as I have already pointed, out is shaking off the near catastrophy it endured as the result of the failure of the Soviet system. But like Nietszche (sp?) is supposed to have said; "That which does not kill us, makes us stronger."


Forcing the Soviet economy to implode has seemingly made the US's fomer, most formidable, foe even more determined to have a place in world affairs, and the emergent Russian Bear is fast learning to utilize its new-found, energy-based financial might were once it would have used only its military bully-tactits.

Russia is also a major player in Iran.



Is it any wonder why most, if not all of Russia's energy production has been nationalized (supposedly to stem the corruption of the oligarchs, but in reality, to feed the corruption of the new "leadership")?


China already has the means by which to turn the US into a virtual "financial client-state" by means of holding a large portion of our debt. China, however must have its eyes on the bigger prize" the world market it has yet to secure.

Russia affords China access to cheap energy.

"My brains, and buckets of oil and gas, your cheap labor-force and bucks to spare...Together, tovarich, we can split the World between us! Once the American Capitalists have choked on their own greed and faded from the scene."



posted on Sep, 22 2008 @ 06:44 AM
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Originally posted by Bhadhidar
reply to post by MatrixBaller04
 



Russia affords China access to cheap energy.




Actually the attack on Georgia was so that they could build a pipeline from the black sea to Armenia (to refine the oil) and sell it cheap to Iran and China. (which is also why russia stands on Irans side for nuclear power against the US.) Georgia probably being manipulated by the US derailed those plans some how.



posted on Sep, 22 2008 @ 07:13 AM
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Originally posted by schrodingers dog

Yeah, I've been following most of the threads on this.
But turning brokerage firms into banks I think is anew one for everybody.
It's like the fed woke up last week and decided to take over this country.
The question is: On who's behalf?





didn't know of this thread when i try to answer the question you asked.

on the bank megatrend thread here:
www.abovetopsecret.com...



its a simple Trojan Horse scheme.



posted on Sep, 22 2008 @ 11:43 AM
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Originally posted by elderban
Hmmm...Paulson, current US Treasury Secretary was formerly Chairman AND CEO of Goldman Sachs, now Goldman Sachs is a bank holding company.

Coincidence? I think not.


Good observation. Spooky



posted on Sep, 22 2008 @ 12:23 PM
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This hit's home. I have some money in Goldman Sachs Mid Cap Value A. It's been a dog over the last 10 months but was a good producer a year to 18 months ago. It will be interesting to see where it goes now.

I'm currently in a holding pattern with stocks and bonds. Nothing is looking more promising than the other.



posted on Sep, 22 2008 @ 04:56 PM
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I say its a war between the bankers in Dubai and China. Russia is just trying to stay independent in its power.



posted on Sep, 22 2008 @ 08:38 PM
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I was reading a good article from AFP named "Doubts grow on US financial rescue plan", and this news caught my eye:


Meanwhile, Japanese banking giant Mitsubishi UFJ Financial Group said it will buy 20 percent of Morgan Stanley in a deal worth up to 8.5 billion dollars.

At the same time, top Japanese brokerage group Nomura Holdings said it was to buy all the Asian operations of failed US investment bank Lehman Brothers.


I'm still trying to figure out who's behind all this. Every day the news throws me in a different direction. One day it feels like a Coup, the next it feels like an Attack.



posted on Sep, 22 2008 @ 10:08 PM
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MS and GS became banks because they wanted access to FDIC. Investment banks don't have that protection. In addition, if they open up deposit locations, they'll be able to build liquidity based on deposits.



posted on Sep, 22 2008 @ 10:10 PM
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Originally posted by SeekingAlpha
MS and GS became banks because they wanted access to FDIC. Investment banks don't have that protection. In addition, if they open up deposit locations, they'll be able to build liquidity based on deposits.


So what are you saying, we're golden, there's nothing to see here. An event which ends wall street as we know it and puts an end of the investment bank institution is not worthy of note?

Thanks, I'm sleeping well tonight.



posted on Sep, 22 2008 @ 10:34 PM
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Originally posted by conway21

Originally posted by Bhadhidar
reply to post by MatrixBaller04
 



Russia affords China access to cheap energy.




Actually the attack on Georgia was so that they could build a pipeline from the black sea to Armenia (to refine the oil) and sell it cheap to Iran and China. (which is also why russia stands on Irans side for nuclear power against the US.) Georgia probably being manipulated by the US derailed those plans some how.



Ummm??? Already a pipeline there champ - might want to brush up on things.



posted on Sep, 22 2008 @ 10:38 PM
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Originally posted by Bhadhidar
reply to post by MatrixBaller04
 


Perhaps in the way that Richleau (sp?) was the power behind the throne of France.

China holds much of the "securitized mortgage" debt generated by the recent US housing boom and, as an emergent industrial power-house, China also is intimately tied to the American consumer's ability to buy its cheap products.


However, China knows, that to fully realize its rising potential as a productive nation, it must secure vast sources of cheap energy, namely petroleum and natural gas. Hence China's current interest in Iran.

It does not hurt that China and Iran have have had a commercial relationship streching back a millenium; since the old Silk Road days.



Russia, as I have already pointed, out is shaking off the near catastrophy it endured as the result of the failure of the Soviet system. But like Nietszche (sp?) is supposed to have said; "That which does not kill us, makes us stronger."


Forcing the Soviet economy to implode has seemingly made the US's fomer, most formidable, foe even more determined to have a place in world affairs, and the emergent Russian Bear is fast learning to utilize its new-found, energy-based financial might were once it would have used only its military bully-tactits.

Russia is also a major player in Iran.



Is it any wonder why most, if not all of Russia's energy production has been nationalized (supposedly to stem the corruption of the oligarchs, but in reality, to feed the corruption of the new "leadership")?


China already has the means by which to turn the US into a virtual "financial client-state" by means of holding a large portion of our debt. China, however must have its eyes on the bigger prize" the world market it has yet to secure.

Russia affords China access to cheap energy.

"My brains, and buckets of oil and gas, your cheap labor-force and bucks to spare...Together, tovarich, we can split the World between us! Once the American Capitalists have choked on their own greed and faded from the scene."



If anyone here can get over there chest beating and self assured intellectual superiority for more than one minute then you SHOULD listen to this person - they know what they are talking about.

Well done - this is bang on line.

please can someone tell me where has all the HOOHAA gone regarding Iran ? Yep - things have gone worryingly silent.

If China were to simply state that they will not provide the funds to bail out America as it is a bad risk investment - America would collapse. Period. Thats more powerful than any nuke on earth - one word - no.

Well done to you - Bhadhidar - the rest of you should take a cup and half of "shut up and listen".....



posted on Sep, 22 2008 @ 11:21 PM
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reply to post by schrodingers dog
 


unless the Fed is using them as mini feds to centralize the banking System of the U.S. So there's less competition and then the Fed reserve can better control the banking system. Makes sense if all the apples come from 3 trees.

Time will tell what the true intentions are on this.



posted on Sep, 22 2008 @ 11:34 PM
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There is a lot to still be worried about. GS and MS just want access to insurance and safety. After all, they both are highly leveraged companies and will need all the protection they can get their hands on.

Not that I'm for the bailout, but if it didn't happen. I think we would see MS on the chopping block right now and GS on its way there.


Originally posted by schrodingers dog

Originally posted by SeekingAlpha
MS and GS became banks because they wanted access to FDIC. Investment banks don't have that protection. In addition, if they open up deposit locations, they'll be able to build liquidity based on deposits.


So what are you saying, we're golden, there's nothing to see here. An event which ends wall street as we know it and puts an end of the investment bank institution is not worthy of note?

Thanks, I'm sleeping well tonight.



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