Rothschilds are secret cabaal behind AIG Bailout scam

Follow the money, is the old cliche' as they say when investigating the elite! This is old news to me for I seen this coming long ago and many here at ATS scoffed and were totally obscure as usual to those of us who can see through to the other side of the forest. Economic futility is all but a done deal with america, and as of right now, we're just all puppets on one great big string.
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alethonews.wordpress.com...

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.

That move came a few weeks after the Federal Reserve and Treasury Department propped up AIG in the wake of Lehman Brothers Holdings Inc.’s own mid-September bankruptcy filing.

Saving the System

Treasury Secretary Timothy Geithner was head of the New York Fed at the time of the AIG moves. He maintained during Wednesday’s hearing that the New York bank had to buy the insurance contracts, known as credit default swaps, to keep AIG from failing, which would have threatened the financial system.

The hearing before the House Committee on Oversight and Government Reform also focused on what many in Congress believe was the New York Fed’s subsequent attempt to cover up buyout details and who benefited.

By pursuing this line of inquiry, the hearing revealed some of the inner workings of the New York Fed and the outsized role it plays in banking. This insight is especially valuable given that the New York Fed is a quasi-governmental institution that isn’t subject to citizen intrusions such as freedom of information requests, unlike the Federal Reserve.

This impenetrability comes in handy since the bank is the preferred vehicle for many of the Fed’s bailout programs. It’s as though the New York Fed was a black-ops outfit for the nation’s central bank.

Geithner’s Bosses

The New York Fed is one of 12 Federal Reserve Banks that operate under the supervision of the Federal Reserve’s board of governors, chaired by Ben Bernanke. Member-bank presidents are appointed by nine-member boards, who themselves are appointed largely by other bankers.

As Representative Marcy Kaptur told Geithner at the hearing: “A lot of people think that the president of the New York Fed works for the U.S. government. But in fact you work for the private banks that elected you.”

And yet the New York Fed played an integral role in the government’s bailout of banks, often receiving surprisingly free rein to act as it saw fit.

Consider AIG. Let’s take Geithner at his word that a failure to resolve the insurer’s default swaps would have led to financial Armageddon. Given the stakes, you might think Geithner would have coordinated actions with then-Treasury Secretary Henry Paulson. Yet Paulson testified that he wasn’t in the loop.

“I had no involvement at all, in the payment to the counterparties, no involvement whatsoever,” Paulson said.

Bernanke’s Denials

Fed Chairman Bernanke also wasn’t involved. In a written response to questions from Representative Darrell Issa, Bernanke said he “was not directly involved in the negotiations” with AIG’s counterparty banks.

You have to wonder then who really was in charge of our nation’s financial future if AIG posed as grave a threat as Geithner claimed.

Questions about the New York Fed’s accountability grew after Geithner on Nov. 24, 2008, was named by then-President- elect Barack Obama to be Treasury Secretary. Geither said he recused himself from the bank’s day-to-day activities, even though he never actually signed a formal letter of recusal.

That left issues related to disclosures about the deal in the hands of the bank’s lawyers and staff, rather than a top executive. Those staffers didn’t want details of the swaps purchase to become public.

New York Fed staff and outside lawyers from Davis Polk & Wardell edited AIG communications to investors and intervened with the Securities and Exchange Commission to shield details about the buyout transactions, according to a report by Issa.

That the New York Fed, a quasi-governmental body, was able to push around the SEC, an executive-branch agency, deserves a congressional hearing all by itself.

Later, when it became clear information would be disclosed, New York Fed legal group staffer James Bergin e-mailed colleagues saying: “I have to think this train is probably going to leave the station soon and we need to focus our efforts on explaining the story as best we can. There were too many people involved in the deals — too many counterparties, too many lawyers and advisors, too many people from AIG — to keep a determined Congress from the information.”

Think of the enormity of that statement. A staffer at a body with little public accountability and that exists to serve bankers is lamenting the inability to keep Congress in the dark.

This belies the culture of secrecy obviously pervasive within the New York Fed. Committee Chairman Edolphus Towns noted during the hearing that the bank initially refused to disclose even the names of other banks that benefited from its actions, arguing this information would somehow harm AIG.

‘Penchant for Secrecy’

“In fact, when the information was finally released, under pressure from Congress, nothing happened,” Towns said. “It had absolutely no effect on AIG’s business or financial condition. But it did have an effect on the credibility of the Federal Reserve, and it called into question the Fed’s penchant for secrecy.”

Now, I’m not saying Congress should be meddling in interest-rate decisions, or micro-managing bank regulation. Nor do I think we should all don tin-foil hats and start ranting about the Trilateral Commission.

Yet when unelected and unaccountable agencies pick banking winners while trying to end-run Congress, even as taxpayers are forced to lend, spend and guarantee about $8 trillion to prop up the financial system, our collective blood should boil.

I believe that the 'cabal' behind the bail out scam are a network consisting of the Trilateral Commission, the Group of Thirty, the International Monetary Fund and the Bank for International Settlements, along with their corporate and banking connections in areas like Kissinger Associates, AIG, Goldman Sachs, CitiGroup, the Federal Reserve, etc...

Though there are some extraneous Rothschild ties to these organizations, how do you reach the conclusion that they are 'the secret cabal'? They are a family, first and foremost, and that instantly makes me extremely skeptical that they, or the Rockefellers for that make, are conspiratorial overlords. The only "overlords" I see are the gigantic corporate entities that value money before human life.

You mention the Rothschild nowhere in your post, and the name is not uttered once in the article you have linked. How about giving us some facts to back these things up. I'm talking real facts, nothing from Prison Planet or any other conspiracy based website, book or zine.

Originally posted by Someone336
You mention the Rothschild nowhere in your post, and the name is not uttered once in the article you have linked. How about giving us some facts to back these things up. I'm talking real facts, nothing from Prison Planet or any other conspiracy based website, book or zine.

While I agree the OP might want to do as you say and link the rothchilds in here with some sort of evidence or even just some nice tasty speculation instead of quoting an article that seems not to mention them...Trying to get information on this conspiracy while sumultaneously excluding ANY source related to conspiracies is for obvious reasons...erm...for want of a better word...retarded?

How about you get a glass of water, but refrain from using any water related sources?

Welcome to 1929..

What do you think happened then? Out of sheer luck everything went to hell?

If we knew how the banking industry worked There would be riots in the street tomorrow..

We all know that every depression is a well crafted mathematical game..(cant remember exact quote but you get the idea.)

The same people who played then play now..

reply to post by Someone336
Though there are some extraneous Rothschild ties to these organizations, how do you reach the conclusion that they are 'the secret cabal'? They are a family, first and foremost, and that instantly makes me extremely skeptical that they, or the Rockefellers for that make, are conspiratorial overlords. The only "overlords" I see are the gigantic corporate entities that value money before human life.

You mention the Rothschild nowhere in your post, and the name is not uttered once in the article you have linked. How about giving us some facts to back these things up. I'm talking real facts, nothing from Prison Planet or any other conspiracy based website, book or zine.
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Straight from Congressman Ron Paul's website. Now, how's this for "credible" proof? Does this pass your smell test? No conspiracy theory here, just plain facts!

www.dailypaul.com...

The Obama, Goldman Sachs & Rothchild connection - This inside scoop connects the dots!
Submitted by Ralph Waldo on Fri, 11/21/2008 - 22:54
in Daily Paul Liberty Forum
Here is a most interesting article that connects a lot of dots between Obama, Goldman Sachs and the Rothchilds.

www.bignews.biz...

A Clash of the Titans for Control of the Presidency

News the media won't report!

Did it ever occur to you that perhaps your vote really doesn't matter because whatever happens in America is being orchestrated by more powerful sources? Few people understand the power and financial influence of two of the most powerful international financial houses in world history and it may very well be they are heavily involved in cutthroat competition for control of our next president. Yet the media has not even begun to question the relationship between these international bankers and our candidates for president.

Well they should before it is too late. Some would argue it may already be too late as the Congress, the White House, the Federal Reserve, the Treasury Department and the two candidates have already joined forces to adopt the most comprehensive bail out of Wall Street and the banking community every seen in American history and followed it with similar action in every major nation throughout the world.

While Congress and the candidates talk about a $700 billion bailout that was necessary to save the economy, the Federal Reserve and Treasury were quietly adopting new programs and regulations to provide direct assistance to the financial markets bringing the total bailout to nearly $3 trillion. As if that is not enough, the Democratic leadership in Congress also intends to offer a future bribe to the taxpayer of another $300 billion stimulation program if Obama gets elected.

How in the world did the Democrats and Republicans, the liberals and conservatives and the media of this nation all agree to such a massive commitment to save the very institutions that cheated, committed fraud, bent regulations and out-smarted the best minds in government and finance? How did people with opposing philosophies who were bitter political rivals bury the hatchet in the midst of one of the most contentious presidential campaigns in history, just a few weeks before the dramatic climax?

Well perhaps the quiet involvement of Goldman Sachs and the Rothschilds may explain as these global powerhouses have been getting their way with governments since long before most modern governments even existed.

In 1750, 26 years before the American Declaration of Independence the Rothschild family began their journey to become the most powerful financial family in world history and though to this day the vast majority of their holdings are privately held, estimates of their family holdings are as much as $167 trillion dollars. Strategic actions over the 258 year continuous evolvement of the Rothschilds has led to control of much of the world supply of gold, oil, diamonds and many other assets.

As for Goldman Sachs, they were founded in 1869, shortly after the end of the US Civil War and at the dawning of the industrial revolution in America joining yet another family firm still around today, J.P. Morgan whose work to save the Union during the Civil War earned it many privileges during the explosion of growth in America including the
www.bignews.biz...

reply to post by Someone336
Though there are some extraneous Rothschild ties to these organizations, how do you reach the conclusion that they are 'the secret cabal'? They are a family, first and foremost, and that instantly makes me extremely skeptical that they, or the Rockefellers for that make, are conspiratorial overlords. The only "overlords" I see are the gigantic corporate entities that value money before human life.

You mention the Rothschild nowhere in your post, and the name is not uttered once in the article you have linked. How about giving us some facts to back these things up. I'm talking real facts, nothing from Prison Planet or any other conspiracy based website, book or zine.
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I forgot to post this this morning when I replied, so I'll get ti it now for ya. This former CEO of Bear Stearns could have went anywhere he wanted, and yet he signed aboard with the "Rothschilds"? This was done so the Rothschids could figure out where to send him next. No consiracy site here, this article comes from Reuters.

www.reuters.com...
Ex-Bear Stearns CEO joins Rothschild -NY Post
Wed Sep 10, 2008 7:38am

Sept 10 (Reuters) - Former Bear Stearns Chief Executive Alan Schwartz has joined European investment bank Rothschild after deciding not to take a role at JP Morgan Chase (JPM.N), the New York Post said citing sources.

Stocks | Funds News | ETFs News

Schwartz's move to Rothschild's New York office seems to be temporary, the Post reported.

Schwartz's long-time associate, Richard Metrick, who was formerly was a Bear senior managing director, has also taken an office at Rothschild.

Schwartz had been weighing a number of options, the Post had earlier reported, after he was forced to sell Bear Stearns to JP Morgan Chase.

He shot to Wall Street fame advising on large M&A deals, such as Disney's 1996 acquisition of Capital Cities/ABC Inc for $19 billion.

Rothschild was not available for comments. (Reporting by Sweta Singh in Bangalore; Editing by Erica Billingham)

reply to post by Someone336
Now let's show the "Sachs" connection to the "Rothschilds", shall we? The info here can be found in the book "Our Crowd" , by Stephen Birmingham. It's a book about some of the most powerful jewish families in New York. It can be found almost anywhere, amazon, b&n, and books a million.
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Helen Sachs (Grandaughter of Goldman Sachs co-founder Joseph Sachs) married Nathan Straus Jr. (Grandson of Lazarus Straus who headed R.H. Macy & Co.)...

Nathan Straus Jr.'s first cousin (also grandson of Lazarus Straus) Roger William Straus Married Gladys Guggenheim (Grandson of Meyer Guggenheim)...

Meyer Guggenheim's daughter is Cora Guggenheim.

Cora Guggenheim married Louis F. Rothschild...

So you have the Rothschild-Guggenheim-Straus-Sachs connection.

Here is more...

Louis F. Rothschild was partners with Albert Loeb to form Albert Loeb & Co.

Louis F. Rothschild was the son of Frank Rothschild.