Revealed: 15 AIG bailout counterparties

Revealed: 15 AIG bailout counterparties

money.cnn.com

A list obtained by Fortune includes the names of many foreign banks - as well as U.S. giants such as Goldman Sachs.

By Carol J. Loomis, senior editor at large
Last Updated: March 7, 2009: 1:28 PM ET

NEW YORK (Fortune) -- Donald Kohn, vice chairman of the Federal Reserve, learned this week about blackmail, Senate style, when he refused to disclose the names of financial institutions benefiting from the bailout of American International Group.

Testifying about AIG (AIG, Fortune 500) before the Senate Banking committee, Kohn respectfully resisted all of its attempts to extract the names. Several committee members grew frustrated and finally got to the point of threatening Kohn with no more dollars for the credit crisis - ever - if he didn't spill the information.

Said Sen. Jim Bunning, R-Ky., "You will get the biggest 'no' you ever got. I will do anything possible to stop you from wasting the taxpayers' money on a lost cause."

(visit the link for the full news article)

"The Interational Bank of World Investment Services",
is what I propose the New name of the United States Federal Government should be changed to.

Does Anyone that is Payed by the U.S. Tax Payers to be our voice, know Anything about what is going on Anywhere in the Federal Government ?

Argg! @%*#!! I cant believe What screw ups these Blithering
Idiots are.

Could they all be so incompetent or irresponsible that they have Zero comon sense ??
Are they All Spineless Worms with the Mentality of an Apple ??

It appears to me that the populace of the Gov'ts running the
the planet are the ones who are the sheeple and being dumbed down, while the layman seem to be the enlightend one's.

If all of this is some gigantic sham/scam, it needs to be on a reality show for: Colossal,Humongous, Ginormous Bungling Baffoonery and How To Bite the Hand that Feeds You.

If it is not a scam and masive insanity is running things, then They must be Institutionalized immediatly, if not sooner.
They then should be put on foodstamps and no health insurance.Next: Liquidate all of their assets and pay off the
national debt.

money.cnn.com
(visit the link for the full news article)

[edit on 7-3-2009 by azureskys]

reply to post by azureskys


"The Interational Bank of World Investment Services"


I think it should be:

"Global Bureaucratic Enslavement Service"

I think this knowledge was well known here on ATS well in advance. People like myself and others have been talking about this its just good to know we have been proven right. With that being said it just goes to show you that on Wall Street there is no failure. If I am Goldman Sachs I can go buy all the junk I want, Insure it, then resell it at a profit and if I dont get what I bought it for the government will pick up the tab. If it cant go at all and I go to claim the insurance on it the government will pick up that tab also. Its really a no lose situation for wall street. I feel bad for both us taxpayers and the small banks that didnt get into this crap who are having to pay for wall streets failures.

If one looks into the Civil War one would see a major reason the south seceded was because the southern banks were sick of funding the northern banks losses. If people dont understand history it will repeat itself and this is why Obama keeps talking about Abraham Lincoln. He knows there is a strong possibility of a new revolution or civil war coming. We dont have government looking out for the people we have tyranny looking out for the few. Disgusting.

I can't decide between heartbreak and rage, that we have been so betrayed. And there is no mention of ever going after these megacriminials. Sort of like it would be impolite to speak ill of complete crooks because they are bakers protected by government.

Unconscionable that our government would give away all this money to these banks who took irresponsible risk, and then refuse to give us the details. All details should be revealed, down to the home addresses and phone numbers of the crooks involved. Why are thy still being protected?

The individuals and their institutions must be held responsible. They must face the people they have cheated. I suppose we don't have laws to cover these things. They dreamed up these financial instruments so they probably lie outside existing law.

I seem to have settled on rage.

The key point I take away from this is that the US government is owned by foreign banks. Plain and simple. The federal reserve prints dollars that are being siphoned off to pay the bad debts of european banking interests.

What the heck did we fight a bloody long revolutionary war for? These banksters have destroyed us! Our currency will be worthless soon and don't be surprised when there is a run on our banks and a bank holiday is declared! Try imagining functioning with all your assets seized. It's coming soon folks. The bank holiday will lead to a forced seizure of all assets owned by every individual. The banksters will own everything. They'll want your soul next.

[edit on 8-3-2009 by SevenThunders]

reply to post by SevenThunders

The key point I take away from this is that the US government is owned by foreign banks. Plain and simple. The federal reserve prints dollars that are being siphoned off to pay the bad debts of european banking interests.

This is exactly what happened in 1933 when FDR declared the United States of America bankrupt. There was a restructuring and a name change of the nation. Ever since 1933 the country has been known as the UNITED STATES OF AMERICA. Notice it is no longer "United States of America" but "UNITED STATES OF AMERICA" in all capital letters. They are not the same name nor referring to the same entity. All capitals denote a corporation which in turn is looked on as a person or persona (image of a person).

The nation became a corporation and the states signed off on the bankruptcy thus becoming a part of the corporation. The federalizing of the states began by changing their names to all capitals. Then introducing the ZIP codes denoting "Federal Zones" within the states. I hope you didn't just think it made the mail easier to sort.

Simply put, our creditors have owned us since 1933. They make the rules and laws that we can use. People wonder why there is no recourse via the Constitution. Its because the law of the land is the UCC and our courts are under maritime law. The courts have already ruled that 'there is no recourse'. I will have to dig up the case again but better yet, people need to dig for themselves.

Testifying about AIG (AIG, Fortune 500) before the Senate Banking committee, Kohn respectfully resisted all of its attempts to extract the names. Several committee members grew frustrated and finally got to the point of threatening Kohn with no more dollars for the credit crisis - ever - if he didn't spill the information.

If you want to go after those involved you will have to use the UCC and the dirty dogs know that. Besides he is under no obligation to "spill the information" or "names of the creditors" to anyone. The Senate Banking committee does not have the right nor the need to know and he knows it. Thus there is nothing they can do but make hollow threats. The indebted does not tell the creditor what to do or how to do it.

People need to get their head out of the sand and understand that when GW Bush Jr called the Constitution just a piece of paper he knew what he was talking about. However, the people didn't even have a clue because they do not know their history. If they did, Washington DC would be in flames, the politicians tared and feathered if not hung before hand.

People we were robbed in 1910 with the plan for control of the money and credit of the people of the United States and the birth of the Federal Reserve Bank. Then we were sold in 1933 thanks to FDR by him declaring the United States of America to be bankrupt. That was the real "New Deal". Then Nixon did it again in 1972! We were raped again then pillaged again and didn't even know about it. We didn't call Nixon tricky Dick for nothing.

So do you really think Donald Kohn, vice chairman of the Federal Reserve Bank is even remotely worried about the Senate Banking committee and their threats?

reply to post by pstrron



Good post, Privateer! I think, again, that if we don't go back and look at History, they will pull the same crap on us over and over again.

Thank you!
Cuhail

reply to post by pstrron


Since we pay them money in the form of taxes, would we be considered investors? shareholders? What I'm thinking is, maybe we could sell it. The corporation I mean. Or dissolve it and reform it under new rules. The states may have signed off on it but they have no money unless individual citizens give it to them. What is the standing of the citizens within this corporate structure?

Originally posted by pstrron
reply to post by SevenThunders


This is exactly what happened in 1933 when FDR declared the United States of America bankrupt. There was a restructuring and a name change of the nation. Ever since 1933 the country has been known as the UNITED STATES OF AMERICA. Notice it is no longer "United States of America" but "UNITED STATES OF AMERICA" in all capital letters. They are not the same name nor referring to the same entity. All capitals denote a corporation which in turn is looked on as a person or persona (image of a person).

Do you have more info on this? This is a nice post btw star for you. Ive heard it spouted many times here on ATS but I finally want to do some research on my own. Your explanation is really the only reason we continue to let these people rob us and we do nothing about it.

To be fair, it's not just the US taxpayers getting screwed - we are ALL getting screwed, big time. Welcome to the world of "Global Banking".
I'm sure a lot of the bad debt being underwritten now by the British taxpayers is not to simply prop up British banks alone, as many of them are spread internationally via offshoots and divisions.

Nobody has yet declared to whom all this debt is owed? If all these banks and financial institutions are being bailed out with Billions of Pounds or Dollars due to debt, then who exactly are they paying off? As a taxpayer who is being saddled with this debt by the government, I'd really like to know.

Ahhhh,, another sweet ATS "I told you so moment."

It is clear that the FED is actually a branch of the only Central Bank on the planet - the IBS.

It is amazing that the list of villanous countries going back some 100 years are all those who's leadership resisted or refused to be part of the global ponzi scheme.

The Federal Government was usurped by the Jekyll Island Barons of Industry and our political parties are the actual tools they used to cover it up and enable the theft of the government 'of' the people. "Annuit Coeptis" indeed.

Having carried out this massive network of financially connected control points in every country that could offer ANY kind of resource in total secrecy, with the cooperation of the world media, and the political parties qualifies them to be considered 'organized crime,' wouldn't you think?

The long-standing concern over "capitus diminutio" (the legal ramificationso of UPPER-CASE entities vs. mixed-case) Has been debunked and rebunked here several times. But common sense should always prevail, if there were no difference between the two, why the change? Did they think people were going blind and needed bigger letters?

Mind you, this all centers around the FED, the Treasury, and the political parties who seem unwilling or incapable of contending with it.

So many questions, our taxpayer dollars bailing out foriegn banks, Treasury Secretary's allowed to pronounce edicts of financial policy, a la papal infallibility, the congress - overwhelmed by citizens saying "NO" to the original bill that started it all (October 24, 2008) and STILL passing it --- PLUS Billions in pork.

People, they are 'getting away with it' as we speak, because we actually BELIEVED that politician's pretty speeches were capable of fixing things, or so the Media told us...

Originally posted by mybigunit
Your explanation is really the only reason we continue to let these people rob us and we do nothing about it.

I think you've forgotten one.... the inherent American Complacency syndrome.

I have a feeling this has a WHOLE lot more to do with the "we do nothing about it" than anything else. Couple that, with another syndrome prevalent in the USA, that being a false sense of entitlement, an exorbitant amount of degree of importance given to multi-million dollar contracts to sports idols with little importance on academics, and an overall bloated vision of what IS and IS NOT the staples of life in our (US) society and what do you get?

Well, you get this.


AB1

reply to post by Cuhail


Your quite correct, its the same old shell game over and over again. You would think we would have learned by now. In my post, I hardly scratched the surface of the deception and lies we have been told over the years.

The Fed's not going to come clean and fill us in until there is nothing we can do about it. All they will do is keep their mouth shut and grin while calling us fools.

Frankly, I truly believe they are pulling a Rothschild maneuver on us like what was done in England in 1812. Crash the market and buy everything on fire sale. While all the time making it look like it was caused by greedy bankers and Wall Street and not controlled from behind the scenes.

The AIG affair is just a front or smoke screen so to speak. The Fed will blow smoke and make it look like they are really concerned about the situation, when in fact it is exactly what they want. This is also referred to as 'divide and conquer'. My question is; when will they pull the rug out from under the dollar? It is already artificially held up and quite literally not worth the paper its written on.

We're told we have a running debt of $5.4 trillion but in fact it is $10.4 and climbing. The last three bailouts have hidden in them over $7 trillion dollars in special interest funding but we are told only about $2.1 trillion.

So were is the Fed on this...silent and so is Congress...God help us all because no one else will.

reply to post by alphabetaone


AB1,

I have come more nad more to suspect that the complacency sydrome of which you speak is actually a manifestation of public policy and propaganda. It must have something to do with group-think and mob-mentality. I resist simply contending that as a part of our national character we simply sit and watch the world go by.

But then, that's just another half-baked conspiracy theory in many people's minds. The majority seem incapable of believing that an entire population can be so conditioned and controlled. I remain unsure because, I recall too many instances where the righteous outrage of the population of this country was simply - 'put aside' because our leaders 'know what's best.' And of course the talking heads and 'experts' also..., let's not forget them.

Yet, they got us where we are today.... what does that say about them?

reply to post by pstrron



Don't forget the $54 Trillion in 'lost' derivatives..... you never even hear them mention that anymore.

I worry not a whit about these banksters and fraudsters. Their days are numbered but their arrogance and hubris prevents them from seeing how far over the line they have stepped. People are waking to their shell game and rapidly growing tired of it. In days gone by they had their militaries to ensure that their rules were enforced upon the masses. They had poor education, few media sources and endless propaganda to ensure compliance and complacency. This time around is going to be very different for them!

The sooner people realize that the whole house of cards MUST fall before a new system is built, the sooner we can get under way. I support the complete systematic failure of any and every institution put in place by the banking cartel - it can't get here soon enough!!!

reply to post by mybigunit

Do you have more info on this? This is a nice post btw star for you.

I have quite a few documents on this but it gets into other areas including our SSN's, presidential orders and proclamations. Thank you for the star! A real nice tid bit for you; On March 28, 1861 Congress adjourned sine die and never has reconvened de jure. Reconvening de jure is required by the Constitution but how was it reconvened?

President Lincoln reconvened Congress under the Executive branch by proclamation number 1; "I do hereby, in virtue of the power in me vested by the Constitution, convene both Houses of Congress." . BTW without the southern states being present...not legal.

Please tell me where in the Constitution it says the president can do this...not. So in truth nothing Congress has done since March 28, 1861 has been legal. The rabbit hole goes much deeper Neo.

Don't forget the $54 Trillion in 'lost' derivatives..... you never even hear them mention that anymore.

I wonder why, or could it be the people would go postal if they did. Its all just smoke and mirrors. AIG is nothing compared to the pork they have added. Believe me its all fat and no meat, pure pork fat and we're about to get fried, deep fried that is.

Do you have any links on this info fine sir. I want to do some research on this aspect and see if I can dig deeper

I think many give both the government and the bankers too much credit. They could never pull off something so sophisticated as what is described. These are folks who buy $1,000 toilet seats and pretty much bugger up everything they attempt.

The AIG deal and the lack of disclosure is troubling, but not all that surprising and not all that important. The financial services industry is based on healty counter-party relationships. Bank one borrows money from bank two down the chain with all of them expecting to be paid off at the agreed to date. The reason for this model is that no firm has all of the cash on hand to handle massive redemptions. For example, if Fidelity has an mutual fund that has 20 billion in assets. It is potentially possible or them to receive $20bn in redemption requests in a day. Since mutual funds need to have a $1/share value, they would never be able to "make the buck" without a massive infusion of cash and it is not reasonable for them to have the cash - their job is to invest the money, which is why you buy the fund in the first plae, to make money.

When one firm fails to pay a counterparty the chain breaks and you have massive failure throughout the system, with many firms unable to establish a $1 share value for their mutual funds.

The bankers are certainly a part of the problem, but the system can't work without counterpartys. One of the fundamental problems that happened here is a total absence of counter-party risk management, which would have solved this problem. Who got the money is not really material. The counterpartys got the money and it is irrelevant who they are.

There is blame to go around in this mess. Bankers, rating agencys, government's complete lack of regulatory oversight and possibly most important, the consumer who purchased homes they could not afford, leased cars that they could not afford to buy and lived on revolving credit and therefore lived beyond their means. I blame the bankers, I place more blame on the American's who used credit irresponsibility. The bankers did not force folks to buy these houses. I realize that this is an unpopular position, but when you look at the bankers and the government when assigning blame, don't forget to look out your window at your neighboor's house, because he's part of the problem. Many folks could also look in the mirror as well. Last time I checked, no banker or government official forced someone to sign a loan document and folks who did not understand what the loan documents really meant to them in terms of future financial obligations tells me they had no business getting a loan in the first place.