This is us folks. The US government, i.e. taxpayers, guarantees the NY Federal Reserve loan of $29,000,000,000 to JPMorgan/Bear Stearns. Call and write your congressional representatives if you disagree. Otherwise, you need not do anything. Click to read the letter → treasuryletter0308.pdf
United States Treasury promises to pay the Fed for Bear Stearns losses
April 2, 2008 · 3 Comments
Categories: Bear Stearns · Ben Bernanke · Bernanke · Fed · JP Morgan · Treasury guarantee · Treasury letter · bailout · corporate welfare · economic elite · federal reserve · fiscal burden · investment bankers · investment banking · nationalization · socialized banking · socializing losses
3 responses so far ↓
M. Albright // April 4, 2008 at 12:36 am |
SCAM: Bear Stearns, -Timothy Geithner and
the Blackstone-BCCI set up
bear stearns, blackstone, blackrock, fed, new york, citibank, Timothy Geithner
Summary
The Blackstone Group, a major private equity firm tied to foreign policy influence lobbying groups such as Kissinger Associates, Scowcroft Advisors, and the Madeline Albright Group, had an affiliated spinoff company, BlackRock, a Caymans Island foreign bank associate, evaluate the “fairness” to shareholders of the JP Morgan Acquisition of Bear Stearns. The deal involved a bailout of Bear Stearns creditors directly, and indirectly through cash infusions via the Fed’s open window of lending, including lending billions to Citibank in exchange for mortgage collateral. The lead negotiator of the deal, the President of the NY Fed, Geithner, is a former employee of Kissinger Associates, a Saudi-China lobbying firm, and was appointed to the Fed by Peter Peterson of Blackstone. He also worked for Secretary Rubin at the Clinton Treasury Department. Secretary Rubin is now an executive with Citibank a major beneficiary of the bailout. Citibank has major Saudi shareholders, and as such is not an American bank, per se. Citibank has been investigat4ed for illegal terrorist money laundering activities in the Middle East, and Geithner was an employee at Kissinger Associates when it was engaged in discussions of mergers with BCCI, which was later indicted for drug money laundering.
http://ecothearcy.wordpress.com/2008/04/03/scam-bear-stearns-timothy-geithner-and/
bear stearns, blackstone, blackrock, fed, new york, citibank, Timothy Geithner
| Redfin Chicago Sweet Digs // September 11, 2008 at 5:25 pm |
[...] hope that Fannie Mae and Freddie Mac don’t go the way of our earlier taxpayer assisted bailout of Bear Stearns – because I sure did not see any lowering of mortgage rates from the banking industry in the [...]
Hans // September 16, 2008 at 10:45 pm |
wow! I have opened over 20 news articles searching “bear stearns fed bailout” to find the number we are now responsible for as i compile a list of all these bailouts, and not a single news article posts the amount! I can’t wait to have to search infinitely to find nothing posted on all the other bailouts we as taxpayers have been “gifted” with.
when the hell are people going to wake up and see the reality around them?!
stop by and check out this sad post when I finish it.