It formed partnerships with some of the largest brokerage businesses on Wall Street, including Goldman Sachs and Merrill Lynch.
He advised the Securities and Exchange Commission how to regulate markets, served as Chairman of the Nasdaq Stock Market and headed the trading committee of Wall Street’s biggest trade group. His firm was one of the three top market makers in Nasdaq stocks and the third-largest matching buyers and sellers of securities on the New York Stock Exchange.
He was also a fixture on the Palm Beach social scene and a member of some of its most exclusive clubs. One newspaper reported him as a 'man who had cultivated an image as a straight-shooter with a personal touch' and his company's web site stated that:
"In an era of faceless organizations... Bernard L. Madoff Investment Securities LLC harks back to an earlier era in the financial world: The owner's name is on the door…The web site was still saying this the day after Bernard Madoff was arrested for perpetrating the largest fraud in American history.
Bernard Madoff has a personal interest in maintaining the unblemished record of value, fair-dealing, and high ethical standards that has always been the firm's hallmark."
On 11 December 2008, The New York Times reported thus:
"The first alarm bells rang at the firm on Tuesday, when Mr. Madoff told a senior executive he wanted to pay his employees their annual bonuses in December, two months early. Just days earlier, Mr. Madoff had told another senior executive he was struggling to raise cash to cover about $7 billion in requested withdrawals from his clients…
So on Wednesday, the senior executive visited Mr. Madoff’s office… and asked for an explanation. Instead, Mr. Madoff invited the two executives to his Manhattan apartment that evening. When they joined him there, he told them that his money-management business was ‘all just one big lie’… Madoff 'stated that he was finished,’ that he had ‘absolutely nothing…
Madoff told the executives he intended to surrender to the authorities in about a week BUT FIRST WANTED TO DISTRIBUTE APPROXIMATELY $200 MILLION TO $300 MILLION TO ‘CERTAIN SELECTED EMPLOYEES, FAMILY AND FRIENDS’.”
Oh yes. He might have stolen a lot of cash off huge numbers of people but he still had enough stashed away to sort out his nearest and dearest. The NYT continued:
“According to the Securities and Exchange Commission, Mr. Madoff confessed to an F.B.I. agent that there was ‘no innocent explanation’ for his behaviour... He had lost money on his trades, he told the agent, and had ‘paid investors with money that wasn’t there’.”The Standard added:
On 15 December 2008, The Evening Standard told us that 'the key question being asked on Wall Street is how the main US financial regulators, the Securities and Exchange Commission, failed to see that a vast fraud was being carried out right under their noses".
"Today it emerged that the SEC had not inspected Madoff's investment advice business since it was first registered with the agency in 2006.http://www.thisislondon.co.uk/standard/article-23601812-details/British+banks+lose+1billion+in+Wall+Street+fraud/article.do
THERE WAS GROWING CONCERN THAT MADOFF'S IMPECCABLE POLITICAL, BUSINESS AND CHARITY CONNECTIONS MEANT IT WAS EASIER FOR HIM TO PULL THE WOOL OVER THE EYES OF THE REGULATORS."
On 15 December 2008, Bloomberg.com told us this:
"SINCE 2000, BERNARD MADOFF HAS GIVEN AT LEAST $100,000 TO THE DEMOCRATIC SENATORIAL CAMPAIGN COMMITTEE AND MORE THAN $23,000 TO THE PARTY’S CANDIDATES, INCLUDING SENATOR CHARLES SCHUMER OF NEW YORK AND SENATOR FRANK LAUTENBERG OF NEW JERSEY."http://www.bloomsberg.com/apps/news?pid=20601087&sid=a3T.FJ8oI5hI&refer=home
Ladies and gentlemen, the man with the 'impeccable political, business and charity connections,' who also, quite by chance, appears to be the greatest swindler in US history, is Jewish. As are the aforementioned Senators, Schumer and Lautenberg and, I am sure, quite a few of his impeccable connections.
On 15 December 2008, The Daily Telegraph told us that Madoff and his wife also 'gave away millions to arts and education groups andJEWISH CHARITIES and served on the boards of several prominent foundations, theatres and colleges.' I wonder if the donated millions gave him a say, regarding the curriculum and ethos of the 'education groups' and 'colleges?'
The Telegraph added:
"You had to be invited to get an 'in' with Bernie, as friends knew him. This allure of exclusivity and reputation for impressive financial returns helped convince many investors of his financial bona fides, even though some money men raised repeated concerns about his firm's zero volatility results and lack of oversight…http://www.telegraph.co.uk/finance/3742427/Bernie-Madoff-Profile-of-a-Wall-Street-star.html
Many of those who won an 'in' with Mr Madoff have now lost their life savings after trusting everything to ‘Bernie’.”
On 15 December 2008, The Evening Standard told us this:
"Two of Britain's leading banks are thought to have lost more than £1billion in the world's biggest fraud, it was revealed this afternoon. HSBC said its exposure to the Bernard Madoff Wall Street swindle was ‘in the region of’ £688million.http://www.thisislondon.co.uk/standard/article-23601812-details/British+banks+lose+1billion+in+Wall+Street+fraud/article.do
Royal Bank of Scotland said its loss will be about £400million. HALF OF ANY LOSSES INCURRED BY RBS WILL FALL ON THE TAXPAYER FOLLOWING THE GOVERNMENT BAIL-OUT LAST MONTH.
Dozens of other leading City institutions, including its biggest hedge fund, Man Group, sponsor of the Booker prize, and Nicola Horlick's Bramdean Asset Management have been stung. Spanish bank Santander, owner of ABBEY, ALLIANCE & LEICESTER AND THE SAVINGS BUSINESS OF BRADFORD & BINGLEY, said its potential exposure was more than £2billion.
The losses could not have come at a worse time for a British banking industry struggling with the credit crunch and the economic downturn...
Madoff, ONE OF WALL STREET'S MOSTS RESPECTED FUND MANAGERS, won followers all over the world because of the consistent high returns from the funds run by Madoff Investment Securities.
BUT HIS OPERATION WAS IN EFFECT A GIANT PYRAMID SCHEME WITH MONEY FROM NEW INVESTORS PAYING FOR THE PROFITS FOR ESTABLISHED BACKERS… AMONG OLDER, JEWISH INVESTORS MADOFF WAS KNOWN AS THE ‘JEWISH BOND’ BECAUSE INVESTMENTS WITH HIM PAID OUT BETWEEN EIGHT PER CENT AND 12 PER CENT EVERY YEAR.”
Well, here we see who the 'established backers' were. They would appear to have been the 'older, Jewish investors.' I wonder who the 'new investors' who were propping up the 'giant pyramid scheme' happened to be?
Ladies and gentlemen, I would bet Bernard Madoff’s bottom dollar that the newbies could be found amongsttheBrit-based banks,HSBC, the Royal Bank of Scotland, the ABBEY, the Alliance & Leicester andBradford & Bingley. The pensioners of Axa Insurance would also be at risk and five Liverpool Councils, Dorset County Council and Hampshire County Council have already admitted to having liabilities of more than £12million between them.
On 14 December 2008, the web site of the Israeli daily, Ha’aretz, reported thus:
“The arrest of Wall Street trader Bernard L. Madoff, who federal agents say defrauded investors of an estimated $50 billion, has had immediate consequences in the Jewish philanthropic world…The Lappin Foundation described its aims thus at its own web site:
On Friday, Madoff resigned from Yeshiva University, where he served as the chairman of the Sy Syms School of Business and treasurer of the board of trustees… In a statement, Yeshiva University spokeswoman Hedy Shulman said that news of Madoff's arrest had ‘shocked’ university officials…
The same day, the Boston-based Robert I. Lappin Charitable Foundation, which had the bulk of its money invested with Bernard L. Madoff Investment Securities, closed its doors and terminated its seven staff members. A 16-year-old charity, the organization's stated goal had been ‘REVERSING THE TREND OF ASSIMILATION AND INTERMARRIAGE’…
‘The money needed to fund the programs of the Lappin Foundation is gone,’ the statement read. ‘It's with a heavy heart that I make this announcement,’ the organization's trustee, Robert I. Lappin, said.
‘The Foundation's programs have touched thousands of lives over many years IN OUR EFFORTS TO HELP KEEP OUR CHILDREN JEWISH’."
"OUR MISSION IS HELPING TO KEEP OUR CHILDREN JEWISH, THUS REVERSING THE TREND OF ASSIMILATION AND INTERMARRIAGE.http://www.rilcf.org/missionstatement.htm
We accomplish this mission by providing a variety of programs for children, teens, parents, and others, which:
Enhance Jewish pride; convey the beauty, joy, and fun of being Jewish and THE RICHNESS OF OUR JEWISH HERITAGE; develop a connection to and love of Israel; INSTIL A FEELING OF BEING A MEMBER OF THE JEWISH FAMILY, A GREAT AND UNIQUE PEOPLE… IMBUE OUR CHILDREN WITH THE DESIRE TO STAY JEWISH AND MARRY JEWISH… SUPPORTING INTERFAITH FAMILIES IN RAISING CHILDREN EXCLUSIVELY WITHIN THE JEWISH FAITH”.
So, here we have a fabulously rich Jew contributing hugely to an organisation devoted to the preservation of Jewish racial identity. And yet, throughout the Western world, the white man has been routinely demonised for attempting to do the self-same thing! And, guess what? It has almost always been the Jew who has been at the forefront of the howling chorus of indignation whenever that white man tried to stand up for his own.
'Racist,' 'Fascist,' 'Nazi,' 'bigot,' 'anti-Semite!' That’s what the Madoffs and their bought politicians and media darlingswould label anyone who dared to stand out against the foreigners-are-better-than-you PC message that we have been hammered with in recent times.
Ask yourselves this, ladies and gentlemen: if we were to substitute the words 'English,' or 'British' for the word 'Jewish' in the Lappin Foundation’s statement of intent, and then tell the world that 'our mission is helping to keep our children British, thus reversing the trend of assimilation and intermarriage,' what do you thinkthis country's Jewish community would make of it?
Well, seeing as how the Jewish Board of British Deputies was behind every race law ever introduced in this country, I guess what the Jew wants for himself - to 'imbue our children with the desire to stay Jewish and marry Jewish' etc. isn’t necessarily what he wants for us.
You know, a phrase that we are all familiar with these days is 'political correctness.' The PC Crowd are those who would always be on the side of Cool Britannia, as defined by treacherous, Brit-loathing globalists like Tony Blair and Peter Mandelson, (Mandelson's father was the editor of The Jewish Chronicle) and never on the side of the stable, proud, homogenous and secure British people as we used to be.
These are the folk who would call me all the routine bogey words - 'racist,' 'Fascist,' 'Nazi' etc. if I were to say that I wanted to 'keep our children British' but would NEVER criticise a Bernard Madoff for contributing to an organisation that wanted to keep Jewish children Jewish.
Before World War I, Marxist theory said that if Europe ever erupted in war, the working classes in every European country would rise in revolt, overthrow their governments and create a new Communist Europe. But when, in 1914, war did break out, that didn't happen. Instead, the workers in every European country lined up to fight their country's enemies. Finally, in 1917, a Communist revolution did occur, in Russia. But attempts to spread that revolution to other countries failed because the workers did not support it.
In 1923, the Frankfurt School began to plan the destruction of Western Man through means other than outright war. The plan would soon become known as Cultural Marxism. Cultural Marxism is better known today as political correctness. Almost all of leading lights of the Frankfurt School were Jewish. If you want to investigate them further, the essay Who Stole Our Culture will tell you more.
If Theodor Adorno, Georg Lukacs and the rest of the original Cultural Marxists were alive today they wouldn’t be condemning the capitalist mega-thief, Bernard Madoff. Nor would they have a bad word to say about the rabid Zionists of the American Neconservative movement, who ensured that a reluctant world went to war with Iraq, or the so-called Oligarchs who robbed Russia blind during that country’s particularly bestial variation on the privatisation scam.
Oh no, ladies and gentlemen, Adorno et al would be doing their best to demonise me for daring to tell you that most of the Neocons, most of the Oligarchs and so many of the top folk who, along with Madoff, profited so obscenely from the de-regulation of the banking industry and whose avarice, ultimately, created the credit crunch, were Jewish.
Check out the Oligarchs in the essay Boris Berezovsky. And the Neocons in the essay 'BLAIR WARS,' which begins at the top of the Home Page at this site.
The supression of white identity and pride didn’t begin with the imposition of political correctness.
A hugely disproportionate number of Jews were at the forefront of the creation and implementation of the various revolutions and attempted revolutions that preceded the endeavours of the Frankfurt School.
The Jew, Karl Marx, published his Communist Manifesto in 1848. (The 'year of the revolutions') The great slaughter that was the Russian Revolution was borne of Marxist/Jewish ideology but that revolution did not spread, as anticipated, througout Western Europe. The Marxist fanatic had, therefore to dream up some other way of subverting the northern European masses.
In 1924, the year that Lenin died, (Lenin’s grandfather was a Jew)the three most powerful men in Russia were Trotsky, Zinoviev and Kamenev, real names Bronstein, Apfelbaum and Rosenfeld. In his 1994 work, Stalin Against the Jews, Jewish writer, Arkady Vaksberg, says this:
"Trotsky, Zinoviev and Kamenev, alone formed the 'leadership nucleus', and had every reason to expect to inherit the mantle of leadership from Lenin. The man closest to the 'troika' after Sverdlov's death was Grigori Sokolnikov".Trotsky, Zinoviev, Kamenev, Sokolnikov and Sverdlov were all Jewish.
The mass murder of millions of innocent Russians that took place under the Bolsheviks was not the first occasion that Hebrew ease with idea of mass slaughter was demonstrated. One only has to look in the biblical books of Joshua, Isaiah and Esther to see how comfortable the Jew is with genocide.
Back in the twentieth century, Sigmund Freud’s mind-bending psychoanalysis and Israel Zangwill’s melting pot ambitions had already presaged the Revolution.
Edward Bernays’ ('the father of US public relations') efforts to hypnotise the masses on behalf of the elite began around the time of the Bolshevik uprising.
The doings and sayings of the likes of these were already preparing the Brave New World that the 'stay Jewish and marry Jewish' Madoffs were planning for rest of us.
The following statements are taken from Bernays' 1928 work, Propaganda:
"THE USE OF PROPAGANDA, CAREFULLY ADJUSTED TO THE MENTALITY OF THE MASSES, IS AN ESSENTIAL ADJUNCT OF POLITICAL LIFE."
"The conscious and intelligent manipulation of organised habits and opinions of the masses must be done BY EXPERTS, THE PUBLIC RELATIONS COUNSELS; THEY ARE THE INVISIBLE RULERS WHO CONTROL THE DESTINIES OF MILLIONS… The most direct way to reach THE HERD is through the leaders… all this must be planned… INDOCTRINATION MUST BE SUBTLE. It should be worked into the everyday life of the people, 24 Hours A Day In Hundreds Of Ways…Go here for more on Edward Bernays.
A REDEFINITION OF ETHICS IS NECESSARY… THE SUBJECT MATTER OF PROPAGANDA NEED NOT NECESSARILY BE TRUE."
On 19 December 2008, Stephen Foley reported thus in The Independent:
"NUMEROUS INVESTORS AND BANKS ACROSS WALL STREET REFUSED TO DEAL WITH BERNARD MADOFF FOR SEVERAL YEARS BEFORE HIS ULTIMATE ARREST ON FRAUD CHARGES, AMID WIDESPREAD RUMOURS OF SUSPECT ACTIVITY AT HIS BROKING AND FUND MANAGEMENT BUSINESS...http://www.independent.co.uk/news/business/news/wall-street-insiders-had-shunned-madoff-for-years-1203850.html
And in an explosive new revelation, Wall Street's chief regulator, THE SECURITIES AND EXCHANGE COMMISSION, ACTUALLY INVESTIGATED THE RUMOURS AND DISCOVERED THAT MR MADOFF HAD LIED TO ITS OFFICIALS – BUT GAVE HIM NO MORE THAN A PRIVATE RAP ON THE KNUCKLES...
INVESTIGATORS ARE HEARING NUMEROUS TALES FROM MARKET PARTICIPANTS WHO HAD LONG BELIEVED THAT MR MADOFF'S IMPRESSIVE TRACK RECORD WAS BEING FAKED. Astonishingly, many of these participants invested with Mr Madoff.
According to documents sent to the SEC in 2005 by Harry Markopolos, the Boston accountant who first raised red flags about Mr Madoff in 1999 and finally got the regulator to launch an investigation more than six years later, several hedge fund managers who were funnelling money into Madoff Investment Securities said they thought the Wall Street veteran was ‘subsidising’ investment returns in down months and ‘eating the losses’ to make his results seem smoother and less risky…
The SEC... took extensive testimony from Mr Markopolos, who had told them years earlier that – most likely – Mr Madoff was running ‘the world's largest Ponzi scheme’. The conclusion was that Mr Madoff was indeed evading disclosure rules, and the SEC forced him to register formally as an investment adviser, which would open him up to regular inspections by the organisation – but IT DID NOT SUBPOENA DOCUMENTS OR DIG FURTHER."
On 24 December 2008, The Evening Standard reported thus:
“A fund manager who killed himself after losing $1.4billion (£950million) in the Madoff scandal invested money on behalf of Europe's wealthiest aristocratic and royal families. René-Thierry Magon de la Villehuchet was found dead in his office on New York's Madison Avenue yesterday morning…http://www.thisislondon.co.uk/standard/article-23607864-details/Madoff+suicide+broker+recruited+Euro+royalty/article.do
A friend of Mr de la Villehuchet said: ‘He had been searching day and night for a way to recover the funds of his investors... It's a farewell from someone who had nothing to be ashamed of... The truth is that everybody wanted to invest with Madoff, who was considered by all as AAA or totally safe,’ he said…
The 65-year-old investor had locked the door, slashed his wrists and arms with a box cutter and bled to death…
News of the latest revelation in the Madoff saga come as the FBI has moved agents from anti-terrorism investigations in order to look into financial fraud because it poses ‘THE GREATEST THREAT’ to America.”
Will they be charging Bernard Madoff with manslaughter, do you think? I know, silly question.
On 7 October 2008, Robert Butche reported thus in Newsroom Magazine.
"Newsroom Magazine contributor George Manev is an economist with a distinctly world view... In the rush to profit by loaning money to anyone while ducking the consequences by selling those loans to unsuspecting investors, this nation’s banking industry perpetrated a massive fraud... Our discussions caused us to sound the alarm nearly a year ago when the risks inherent in a banking system that had abandoned probity were still largely concealed from the public...http://newsroom-magazine.com/?p=3773
As the international banking system reels from being caught behaving like ordinary crooks... investors world-wide remain uncertain about their holdings and rightfully distrustful of banks, brokers and markets... UNKNOWN TO THE PUBLIC — THE ROLE DEREGULATION OF MEDIA HAS PLAYED IN JOURNALISM’S FAILURES TO ADEQUATELY AND PROMINENTLY COVER THE INHERENT RISKS IN SUB-PRIME LENDING AND SECURITIZED MORTGAGE TRADING.
To be sure the financial press covered the story, as did most major newspapers. But in a country that prefers to get its news by television, viewers know little until the collapse of Lehman Brothers. For those who wonder why, one need only look to how THIS NATION’S MEDIA WAS TURNED OVER TO THE SAME IRRESPONSIBLE ADULTS WHO WERE RUNNING BANKING AND WALL STREET…
What Manev and I shared was an understanding that went beyond economics and into THE CONDITIONS THAT KEPT THE MISDEEDS ON WALL STREET ALL BUT INVISIBLE — ESPECIALLY TO THOSE WHO DEPEND ON TELEVISION AS THEIR PRINCIPAL SOURCE OF NEWS.
It was late September two years before the attacks on the World Trade Center. The Dot Com mania was nearing its final frenzy even as worries over what the news networks dubbed the Year Two Thousand problem for the world’s computers loomed ever larger. Down in Washington, where presidential election activity was already underway, one of the last major legislative successes of the Clinton administration was coming to fruition.
At the behest of congressional Republicans, the Clinton administration, including Treasury Secretaries Robert Rubin and his successor Lawrence Summers, had long been considering SWEEPING DEREGULATION OF THE NATION’S FINANCIAL SYSTEM. While the Democrats saw such deregulation as a means of substantially increasing home ownership opportunities for lower income Americans, the Republicans were anxious to dismantle most of the New Deal restrictions and regulations on banking and finance.
At the center of the negotiations was an expanded mission and NEW POWERS FOR FANNIE MAE, THE NATION’S PRINCIPAL UNDERWRITER OF HOME MORTGAGES. Longtime Democrat, FRANKLIN RAINES, WHO SERVED IN BOTH THE CARTER AND CLINTON ADMINISTRATIONS, HAD JUST BECOME CEO AT FANNIE MAE…
Given the immense profits that could be made by introducing ever-increasing entertainment values and promotional activities, TELEVISION NEWS WAS STILL BEING DISMANTLED DURING THE CLINTON ADMINISTRATION. In the doing, TELEVISION NEWS WAS TURNING ITS FOCUS TO LIGHTER STORIES, SHORTER SEGMENTS, MORE COMPRESSED SOUNDBITES. RESPONSIBLE COVERAGE, OR IN DEPTH COVERAGE OF ANYTHING NOT EASILY PROMOTABLE FOR AUDIENCE METRICS, HAD RUN ITS COURSE.
THE VAST MAJORITY OF AMERICANS — those who preferred television as their principal source of news and information, HAD BEEN SEDUCED. The attention of most Americans was focused elsewhere. Everybody was getting rich — or so it seemed that summer. WHAT THE NATION DID NOT KNOW WAS THAT THE SINGLE MOST IMPORTANT NEWS AND INFORMATION FOR THEM TO KNOW WAS EFFECTIVELY BEING CLOISTERED. Television news had changed in favor of television star newsreaders, animated graphics, shorter stories, impressive sets, and even longer commercial clusters.
Behind the scenes the networks were continuing to downsize their news gathering operations... AS MOST AMERICANS WERE OTHERWISE ENGAGED, THE HIDDEN FORCES IN GOVERNMENT, LOBBYISTS AND OTHER SPECIAL INTERESTS, APPLIED INFLUENCE, MONEY AND OTHER BENEFITS TO GET THINGS DONE IN WASHINGTON.
Given effectively no coverage by television news, little did people know that banking and finance had contracted a nasty disease — one known in the grifter trade as a Ponzi Scheme in which SUB-PRIME MORTGAGES WERE SECURITIZED AND TRADED BASED ON AN UNSUSTAINABLE PROMISE TO PAY HIGH RETURNS TO INVESTORS FROM MONIES OBTAINED FROM SUBSEQUENT INVESTORS.”
On 28 November, Tom Eley said this at the World Socialist Web Site:
"Balzac’s maxim that 'behind every great fortune lies a great crime' may yet prove a fitting epitaph for American capitalism. A recent survey by the Wall Street Journal reveals that CEOs AT MAJOR US FINANCIAL AND REAL ESTATE FIRMS CONVERTED TENS OF MILLIONS OF DOLLARS OF OVERVALUED STOCK INTO CASH PRIOR TO THE ERUPTION OF THE CURRENT FINANCIAL CRISIS, EVEN AS MANY OF THEIR CORPORATIONS APPROACHED THE PRECIPICE.http://www.wsws.org/articles/2008/nov2008/ceos-n28.shtml
The Journal analyzed the fortunes of CEOs from 2003 to 2007 based on executive compensation and stock sale data. Fifteen of these CEOs took home more than $100 million in cash during this period. At the high end was Charles Schwab, WHO MADE OVER $816 MILLION from his self-named accounting firm, almost all of it from stock sales.
Of the 120 publicly traded firms the Journal analyzed, CEOs CASHED OUT A TOTAL OF MORE THAN $21 BILLION. However, data was gathered only from publicly traded companies, and thus does not include similar fortunes that have been made by “hedge fund chiefs, Wall Street traders, and executives who sold their companies outright.” Nor did it include data related to exit packages, the multimillion-dollar 'golden parachutes' awarded to retiring or fired executives.
THE JOURNAL’S FINDINGS UNDERSCORE THE PARASITISM AND CRIMINALITY OF THE US FINANCIAL ELITE. Defenders have long justified extravagant CEO pay by claiming that these were the talented 'risk-takers' who generated enormous wealth for investors. But the Journal’s data shows that there is no correlation between compensation and a firm’s success. On the contrary, MANY CEOs REWARDED THEMSELVES JUST AS THEIR CORPORATIONS APPROACHED RUIN.
These included Richard Fuld, the CEO of Lehman Brothers, who transformed his firm’s stock into well over $100 million in cash. When added to his salary and bonuses, FULD POCKETED NEARLY $185 MILLION IN THE FIVE YEARS BEFORE 2008, EVEN AS HE GUIDED HIS 150-YEAR-OLD INVESTMENT BANK TO RUIN. JAMES CAYNE OF BEAR STEARNS DID NEARLY AS WELL AT HIS INVESTMENT BANK, COLLECTING OVER $163.2 MILLION, the vast majority of which was garnered from selling stock that would soon be scarcely worth the paper upon which it was printed.
MAURICE GREENBERG of American International Group (AIG) MADE $132.8MILLION between 2003 and 2005, when he was forced to resign. Well over $100 million of this came from windfall stock sales of the giant insurer. AIG collapsed in September, but was determined to be 'too big to fail' by the federal government, and was bailed out twice in less than one month to the tune of some $120 billion.
In August, the sub-prime mortgage giant Countrywide Financial Group collapsed spectacularly, and was absorbed by Bank of America. In the previous five years, however, Countrywide’s CEO, ANGELO MOZILO, TOOK HOME$471 MILLION, over $400 million of which came from sales of the company’s soon-to-be-worthless stock.
A look at the sectors of the economy where these richly remunerated executives worked, moreover, demonstrates the advanced rot of the US economy as a whole. Without exception, they represented corporations that engaged in financial speculation—'industries closely tied to the financial crisis,' as the Journal puts it—and that produced no real value. These until recently 'vibrant' parts of the economy functioned only to siphon off enormous social wealth and deposit it in the bank accounts of the CEOs and big investors.
One example the Journal considered is the private student loan sector, WHICH MADE DANIEL MEYERS, the CEO of a firm called First Marblehead, A VERY WEALTHY MAN. Marblehead specialized in servicing loans to students who had “exhausted the cheaper government-backed variety,” and then repackaging and selling the debt to big banks such as Bank of America. MEYERS EARNED NEARLY $100 MILLION, almost all of it in the sale of company stock. TOGETHER WITH OTHER MARBLEHEAD INSIDERS, $660 MILLION WAS TAKEN.The Journal notes that Meyers used $10.3 million of his fortune to buy an ocean-front property in Rhode Island—the state with the highest unemployment rate. Meyers tore down the villa that was there and has put up a 38,000-square-foot mansion he named, befitting a pirate, 'Seaward.'
Another sector of the economy that has proved highly lucrative for CEOs is that of home mortgages. In addition to the aforementioned case of Angelo Mozilo and Countrywide, the Journal highlights the case of New Century Financial, the nation’s second largest subprime lender. While the lender is now bankrupt, over a period of four years its THREE LEADING EXECUTIVES TOOK HOME A COMBINED $74 MILLION. The Journal also mentions the case of HERBERT AND MARION SANDLER, WHO MADE $2 BILLION off selling their mortgage firm, Golden West Financial Corp., to Wachovia in 2005. This purchase likely contributed to the demise of Wachovia, which collapsed in October and was bought out by Wells Fargo.
In the field of 'credit-default swaps,' MICHAEL GOOCH MADE $82.5 MILLION through his firm GTI Group. Over $77 million of this came from a remarkably well-timed sale in May of 2006. Since then, GTI’s stock has lost over 90 percent of its value. Gooch owns three mansions, and boasted to the Journal that he could pay off his only debt, a $1 million mortgage, 'with the spare change in my bank account.'
The Journal notes with some surprise that one of the most highly remunerative fields was that of 'home-building.' The wealth accumulated by CEOs in this sector is a clear byproduct of the speculative real estate bubble that emerged over the last decade. Toll Brothers, specializing in building suburban mansions, MADE ROBERT AND BRUCE TOLL THREE QUARTERS OF A BILLION IN CASH, largely in stock sales. The company has lost 74 percent of its value in the past year.
CHAD DREIER, CEO OF RYLAND GROUP, MADE $181 MILLION building homes in 'hot markets' such as Las Vegas that have now gone bust, exposing thousands of families to foreclosure. DWIGHT SCHAR, THE CEO OF A BUILDING FIRM CALLED NVR, TOOK HOME $626 MILLION IN 2003-2007, almost all from the sale of stock. Schar spent about $86 million of this fortune in 2005 to buy the Palm Beach, Florida estate of billionaire Ronald Perelman…
The criminal methods of these CEOs, who have led their companies and American capitalism as a whole to the brink of ruin, do not derive from personal greed alone. In their criminality and nearsightedness the CEOs reflect, instead, the narrowing horizon and historical decline of US capitalism, in which THE ACCUMULATION OF EXTREME WEALTH LONG AGO LOST WHATEVER CONNECTION IT HAD TO THE CREATION OF REAL VALUE.
On 4 December 2008, The New York Post told us this:
"A new Citigroup scandal is engulfing ROBERT RUBIN and his former disciple Chuck Prince for their roles in an alleged Ponzi-style scheme that's now choking world banking. Director Rubin and ousted CEO Prince - and their lieutenants over the past five years - ARE NAMED IN A FEDERAL LAWSUIT FOR AN ALLEGED COMPLEX COVER-UP OF TOXIC SECURITIES THAT SPREAD ACROSS THE GLOBE, WIPING OUT TRILLIONS OF DOLLARS IN THEIR DESTRUCTIVE PATHS.http://www.nypost.com/seven/12042008/business/ponzi_scheme_at_citi_142511.htm
Investor-plaintiffs in the suit accuse Citi management of OVERSEEING THE REPACKAGING OF UNMARKETABLE COLLATERALIZED DEBT OBLIGATIONS THAT NO ONE WANTED - AND THEN RESELLING THEM TO CITI AND HIDING THE POISONOUS EXPOSURE OFF THE BOOKS...
The lawsuit said that when the bottom fell out of the shaky assets in the past year, Citi's stock collapsed, wiping out more than $122 billion of shareholder value.
However, RUBIN AND OTHER TOP INSIDERS WERE ABLE TO KEEP CITI SHARES AFLOAT UNTIL THEY COULD CASH OUT MORE THAN $150 MILLION FOR THEMSELVES IN ‘SUSPICIOUS’ STOCK SALES’ calculated to maximize the personal benefits from undisclosed inside information,’ the lawsuit said…
Rubin cleared $30.6 million on his stock sales.”
Robert Rubin was Bill Clinton's Treasury Secretary and, since he left that post, has been one of the Democrats' top policy advisers.
He was the boss of Goldman Sachs before becoming Chairman of Clinton's National Economic Council and then being promoted to the top Treasury job.
RUBIN WAS THE LEADING FIGURE IN FINANCIAL SECTOR DEREGULATION. It was he who was responsible, in 1999, for the repeal of the 1933 Glass-Steagall Act, which had separated largely unregulated investment banks like Goldman Sachs from government-supervised and insured commercial banks like Citigroup. RUBIN RESIGNED AS TREASURY SECRETARY IN 1999 AND BECAME CITIGROUP'S CEO THAT SAME YEAR.
Even after his return to the private sector, Rubin campaigned against all governmental and financial sector efforts to regulate hedge funds.
Rubin is a close friend of Hillary Clinton and his son, Jamie Rubin, was a major Wall Street fund-raiser for Barack Obama.
He is Jewish.
On 5 December 2008, The Times reported thus:
"The young new president, elected with the least national political experience of any US leader in more than half a century, has gone out of his way to appoint a team of seasoned political and policymaking professionals who, in their different ways, have been at the forefront of US government for two decades…http://www.timesonline.co.uk/tol/comment/columnists/gerard_baker/article5288780.ece
There is the economic team, charged with navigating a way out of the worst mess in the US in 75 years.
This might be called THE ROBERT RUBIN MEMORIAL ALL STARS. MR RUBIN, BILL CLINTON'S TREASURY SECRETARY, A FORMER CHIEF OF GOLDMAN SACHS, DOMINATED DEMOCRATIC PARTY ECONOMIC THINKING IN THE 1990S - PRO-MARKET, PRO-DEREGULATION, AND SENSITIVE TO THE INTERESTS AND CONCERNS OF WALL STREET...
LARRY SUMMERS, WHO SUCCEEDED MR RUBIN AT TREASURY IN 1999, WILL BE HIS CHIEF ECONOMIC COUNSELLOR AT THE WHITE HOUSE (and CHAIRMAN-IN- WAITING OF THE FEDERAL RESERVE, IF THE RUMOURS ARE TO BE BELIEVED). THE TREASURY SECRETARY WILL BE TIM GEITHNER, MR RUBIN'S PROTÉGÉ IN THE 1990S, and one of the three men (the others were Ben Bernanke, the Fed Chairman, and Henry Paulson, the Treasury Chief) who have been driving the US Government's response to the financial crisis.
It doesn't sound much like the change that America was promised."
On 13 December 2008, Dr Henry Makow said this at The Truth Seeker web site:
"The arrest of financier Bernard Madoff Thursday for operating a ‘Ponzi scheme’ costing investors $50 billion made the TV network news. Curiously, a lawsuit the same day against CLINTON TREASURY SECRETARY ROBERT RUBIN FOR DEFRAUDING CITIBANK SHAREHOLDERS OF MORE THAN $122 BILLION, also described as a ‘Ponzi scheme,’ GOT NO AIRPLAY WHATSOEVER. As we shall see Rubin, a Director of Citibank, PROFITED FROM THE SHADY PRACTICES THAT DESTROYED THE FINANCIAL SYSTEM AND SENT THE WORLD'S ECONOMIES INTO A TAILSPIN. Then, to repair the damage, HE AND HIS BANKER FRIENDS PUT THE TAXPAYER ON THE HOOK FOR TRILLIONS. RUBIN DIDN'T GET THE SAME PUBLICITY AS MADOFF BECAUSE OF HIS CLOSE CONNECTION TO BARACK OBAMA.http://www.thetruthseeker.co.uk/article.asp?ID=9824
ROBERT RUBIN'S SON JAMIE WAS OBAMA'S MAIN WALL STREET FUND RAISER AND IS NOW ONE OF HIS PRINCIPAL ADVISERS. More significant, Obama's economic team consists of Rubin's protégés including Timothy Geithner, Treasury Secretary, Lawrence Summers, Senior Economic Adviser and Peter Orszag, Budget Director… Clearly, the media don't want people to see that the candidate of ‘Change’ chose the people responsible for this calamity to be his ‘economic team.’
WHILE IN THE CLINTON WHITE HOUSE, RUBIN, WITH SUMMERS, HELPED TEAR DOWN THE REGULATORY WALLS BETWEEN BANKS, BROKERAGES AND INSURANCE COMPANIES AND FREED THEM TO TRADE IN UNREGULATED AND LITTLE-UNDERSTOOD DERIVATIVES WORTH TRILLIONS OF DOLLARS…
THE MEDIA IS CONTROLLED BY THE ILLUMINATI AND ADVANCES THEIR AGENDA. THAT'S WHY THE SPOTLIGHT IS ON BERNARD MADOFF AND NOT ROBERT RUBIN…
OBAMA WAS PUT IN POWER BY ILLUMINATI JEWS AND MASONS."
In 1776, Adam Weishaupt founded the Illuminati order with the financial assistance of the Rothschilds.
He was, and the Rothchilds still are, Jewish.
Wikipedia tells us that the mission of the Illuminati 'was to establish a NEW WORLD ORDER, WHICH MEANT THE ABOLITION OF ALL MONARCHICAL GOVERNMENTS AND RELIGIONS. The actual character of the society was modeled on one of its traditionalist enemies, the Jesuits, and was an elaborate network of spies and counter-spies.'
There is a good deal of evidence that the Illuminati played a considerable role in the agitation that led up to the French Revolution of 1789.
Many more than Henry Makow (Bob Chapman also refers to the Illuminists in the article below)would claim that they still exert a good deal of influence today within such groups as the Bilderbergers, the Council on Foreign Relations and the banking houses of the western world.
"WE NEED TO ASK OURSELVES WHETHER THERE IS SOME FLAW IN JEWISH CULTURE THAT MAKES SO MANY JEWS SACRIFICE PERSONAL INTEGRITY FOR FINANCIAL SUCCESS AND POWER.http://www.thetruthseeker.co.uk/article.asp?ID=9824
Finally, wars and depressions don't happen by accident. They are planned by the Illuminati years in advance. THEY ARE DESIGNED TO ENGINEER SOCIAL AND POLITICAL CHANGE."
On 14 December 2008, the Israeli daily, Ha’aretz told us this:
“The widely popular video sharing website, YouTube, has reached out to the Anti-Defamation League for its expertise in dealing with hate on the Internet. As a result of this partnership, THE LEAGUE IS NOW A CONTRIBUTOR TO YOUTUBE'S NEWLY LAUNCHED ABUSE & SAFETY CENTER, WHERE USERS ARE EMPOWERED TO IDENTIFY AND CONFRONT HATE, AND TO REPORT ABUSES…Anti-Defamation League joins YouTube to fight online hate
‘YouTube is an incredible tool for sharing videos and giving individuals an opportunity to broadcast themselves, but like other social networking sites IT CAN BE ABUSED OR USED FOR SINISTER AND DANGEROUS PURPOSES,’ said Abraham H. Foxman, ADL National Director. (Like telling truths Mr Foxman doesn’t want told) There are those who may try to exploit the technology to spread RACISM, ANTI-SEMITISM AND OTHER FORMS OF HATE.
We commend YouTube for their efforts to provide users with access to important information from those with expertise, such as ADL and others, on how to effectively respond to hate on the Internet and to report abuses… Maintaining A PREJUDICE-FREE ZONE (one where spin, propaganda and the Thought Police reign supreme) on the Internet means constant vigilance on the part of everyone… THE BIGOTS (honest folks) can only be sidelined if PEOPLE OF GOOD WILL (the PC Crowd) are actively reporting abuses, so that the Internet service providers can take action,’ the ADL chief added.
Since the launch of the Internet, ADL has played a leading role in working to combat hate (any truth that focuses on non-white nastiness) on the World Wide Web through EDUCATION AND ADVOCACY. (Spin and Lies) The League monitors EXTREMISM AND HATE on the Internet and works with major service providers, including Google, to identify and respond to offensive content…
THE ANTI-DEFAMATION LEAGUE, FOUNDED IN 1913, IS THE WORLD’S LEADING ORGANIZATION IN FIGHTING ANTI-SEMITISM THROUGH PROGRAMS AND SERVICES THAT COUNTERACT HATRED, PREJUDICE AND BIGOTRY.”
'Hatred, prejudice and bigotry' are words the very Jewish ADL have been using for almost a century now in order to scare the whistle-blower into not exposing the Bernard Madoff-like information to the general public.
On 17 December 2008, the thoughts of the financial expert, Bob Chapman, were posted at the Conspiracy Planet web site:
"We now are faced with another budding scandal, which is engulfing ROBERT RUBIN, FORMER TREASURY SECRETARY UNDER BILL CLINTON and his former disciple Chuck Prince for their roles in another Ponzi scheme that is now choking world banking… THE ACTIONS OF RUBIN AND HIS PARTNERS IN CRIME WERE RESPONSIBLE FOR THE COLLAPSE OF CITIGROUP, WHICH WIPED OUT $122 BILLION IN SHAREHOLDER VALUE... THEY AND THEIR ACCOMPLICES OVER THE PAST FIVE YEARS ARE NAMED IN A FEDERAL LAWSUIT FOR AN ALLEGED COMPLEX COVER-UP OF TOXIC SECURITIES, which was administered worldwide. They caused part of what you see in CDO, Collateralized Debt Obligations, WHICH HAVE BEEN RESPONSIBLE FOR TRILLIONS OF DOLLARS IN LOSSES…http://www.conspiracyplanet.com/channel.cfm?channelid=102&contentid=5630&page=2
Rubin and his gang of accomplices were able to hold Citigroup’s shares up in value WHILE THEY CASHED OUT $150 MILLION WORTH - STOCK SALES THAT WERE SUSPICIOUS AND CALCULATED TO MAXIMIZE THE PERSONAL BENEFITS from undisclosed inside information… Rubin made $30.6 million on the deal…
Foreign banks, hedge funds, insurance companies and other institutions bought 70% OF WHAT BECAME TOXIC WASTE, as they poured dollars back into the US economy supplying at times $3 billion a day in investment to keep America from going bankrupt…
GREED DROVE ALL THE PLAYERS from the borrowers to the buyers of what became toxic garbage...
THE ILLUMINISTS got the ball rolling by getting revenge on Bear Stearns by financially assassinating them and looting the valuable assets of the company. The recipient was JP Morgan Chase, a major owner of the Federal Reserve, WHICH YOU LOANED $29 BILLION TO PULL OFF THIS THEFT. This started the de-leveraging and the run on the derivatives. Lehman Brothers was next and their demise caused even more havoc. Just prior to that was the collapse of Fannie Mae and Freddie Mac, both DERIVATIVE BORNE DISASTERS. TAXPAYERS ARE ON THE HOOK FOR $9.4 TRILLION AND CLIMBING.
The Fed refuses to say who received their largess and what the terms are. Citigroup will cost $1 trillion and AIG $500 billion. The Treasury is backstopping $600 trillion in derivatives and the Fed and the Treasury are doing the same…
There is nothing normal about this recession/depression. WE ARE LOOKING AT THE DESTRUCTION OF THE SYSTEM…
Paulson’s attempt to revive loan securitization is an exercise in futility… The banks, Wall Street, government, and the Fed are putting out so many fires that they have little time to restore confidence. There is still no transparency. When you ask a simple question of government the answer is it is a state secret and cannot be divulged. The Fed arrogantly simply refuses to answer…
The banks are holding on with Fed and Treasury help, as are most sectors of the economy. What is really vulnerable is Wall Street, insurance, pension and retirement plans, hedge funds and those in the stock market...
The Fed sits on its hands and does nothing. They just told the players to sort it out for themselves. COULD IT BE THE FED WANTS A COLLAPSE? The global economy has significantly contracted since the collapse of Lehman, which spurred this problem…
Once the system breaks down, and it will break down, THE PROS AND THE INSTITUTIONS WILL GET DELIVERY BUT NOT THE PUBLIC…These problems will hit every economy and society... The chickens are coming home to roost. No matter what governments following Keynesianism say, every government will have to revert to a gold standard and GOD HELP THOSE THAT DO NOT HAVE GOLD RESERVES."
On 15 April 2007, The Sunday Times reported thus:
"Gordon Brown is to face questions in parliament after revelations that HE DISREGARDED ADVICE FROM THE BANK OF ENGLAND BEFORE HE SOLD OFF MORE THAN HALF THE COUNTRY’S GOLD RESERVES AT THE BOTTOM OF THE MARKET.Bob Chapman continues:
Insiders involved in the decision have broken ranks after an 18-month battle in which the Treasury has blocked attempts by The Sunday Times to make public the official advice received by Brown before he sold the gold.
They have revealed that Bank of England officials had serious misgivings over THE CHANCELLOR’S DETERMINATION TO SELL 400 TONS OF BULLION IN A SERIES OF AUCTIONS BETWEEN 1999 AND 2002, WHEN THE PRICE WAS AT A 20-YEAR LOW. SINCE THEN THE PRICE HAS ALMOST TREBLED, MEANING THE DECISION COST THE TAXPAYER AN ESTIMATED £2 BILLION."
"THE ELITISTS ENGINEERED THE COLLAPSE OF THE US, CANADIAN AND EUROPEAN ECONOMIES NOW THEY'LL HAVE TO DEAL WITH THE WORKERS THEY’VE DISPOSSESSED. THEY KNOW WHO WAS RESPONSIBLE FOR THEIR PLIGHT.There can be no miracles
THE PUBLIC HAS WORKED THEIR ENTIRE LIVES AND HAS LITTLE OR NOTHING TO SHOW FOR IT. THEIR PENSIONS AND 401K'S HAVE BEEN DECIMATED AND THEY ARE TRAPPED UNABLE TO STOP THE DECIMATION OF THEIR WEALTH. WHAT HAS TRANSPIRED OVER THE PAST EIGHT YEARS HAS BEEN A MASSIVE TRANSFER OF WEALTH FROM THE WORKERS TO THE VERY WEALTHY...Wall Street and banking are responsible and ironically they are bailing themselves out leaving the workers with very little.
These, the world’s most productive workers, who work longer and harder, see shrinking wages and falling purchasing power the victim of stealth inflation. The greed and corruption of the Illuminists knows no end…
THERE CAN BE NO MIRACLES, REALITY IS WHAT IT IS. TRUTH IS ABOUT TO TRIUMPH."
On 18 December 2008, the Conspiracy Planet site added this:
"As more info comes in regarding the Madeoff scheme, news from several sources say that MADEOFF AND HIS CLIENTS WERE THE LARGEST BANK ACCOUNT HOLDERS LISTED ON A COMPUTER DISK LEAKED BY A SWISS BANK WORKER REGARDING US PERSONS WITH HIDDEN SWISS BANK ACCOUNTS.http://www.conspiracyplanet.com/channel.cfm?channelid=102&contentid=5631&page=1
As the IRS approached him regarding the repayment of taxes from his hidden Swiss account, MADEOFF REPORTEDLY BECAME ADAMANT THAT HIS WEALTH WOULD NOT BE TAXED BY THE US...
Realizing that he was be certain to arrested on other securities and market making fraud issues in the near future, insiders say that it was at this point HE MADE THE DECISION TO JUST SAY IT WAS ALL LOST IN TRADING AND MOVE IT DIRECTLY TO ISRAEL.
Insiders also report that HE WAS READY TO PAY THE TAXES ON THE MONEY IN ISRAEL but was adamant that taxes in the US would not be paid nor would any of the money be available for US court judgments in subprime, fraudulent trading and misrepresentation charges in the future...
Sources say that THE WEALTH FROM MADEOFF'S SCAM HAS BEEN FULLY TRANSFERED TO ISRAEL and that ‘most IF NOT ALL of the clients have been made aware’ that THEIR MONEY IS AVAILABLE TO THEM IN ISRAEL AND THAT IT WAS FELT THAT THIS WAS A NECESSARY MEASURE IN PROTECTING CERTAIN HIGH LEVEL CLIENTS in the face of a collapse of the USA.
A European bank executive has said early this morning that the Banks involved in Madeoff's fund were exposed through loads and leveraging and that THESE LOANS WILL BE REPAID IN FULL FROM ISRAEL.
All of the charities involved have Israeli offices, so they also are of an understanding that their money is now available there. Sources say that Madeoff has a base in Israel... Speculation has it that he is advising transfer of client's funds into physical gold holdings in coded safety deposit boxes...
Madeoff's clients are not just in the US. HE HAS MOVED FUNDS TO ISRAEL FOR CLIENTS IN RUSSIA, FRANCE, ENGLAND AND SWISS… Some insiders are saying THE AMOUNT INVOLVED MAY BE CLOSER TO $100 BILLION."
Immediately after New Labour election victory in 1997, Gordon Brown ceded responsibility for the setting of interest rates to the Bank of England even though there had been no mention of the plan in Labour’s manifesto. The 8 May 1997 edition of The Spectator told us why:
"Mr Brown’s decision to surrender a power which previous chancellors relied upon abusing was, it seems, planned months ago. It was discussed with Alan Greenspan, chairman of the Bank’s American counterpart, the Federal Reserve, during a recent trip to the United States."
Alan Greenspan, who was knighted in 2002, in recognition of his 'contribution to global economic stability,' was head of the Federal Reserve for more than 18 years.
After his retirement in 2006, he was immediately co-opted as an advisor to both the Bank of England and Gordon Brown 'on issues relating to global economic change.'
On 23 October 2008, Greenspan was brought before a Congressional Oversight and Reform Committee to explain his central role concerning the 'issues relating to global economic change' now bedevilling our financial systems. This is what he said:
“WE ARE IN THE MIDST OF A ONCE-IN-A CENTURY CREDIT TSUNAMI…A mistake, Alan?
The crisis… has turned out to be much broader than anything I could have imagined… Given the financial damage to date, I cannot see how we can avoid a significant rise in layoffs and unemployment… Fearful American households are attempting to adjust, as best they can, to a rapid contraction in credit availability, threats to retirement funds and increased job insecurity… It was the failure to properly price such risky assets that precipitated the crisis…
A critical pillar to market competition and free markets did break down… I STILL DO NOT FULLY UNDERSTAND WHY IT HAPPENED…
I MADE A MISTAKE IN PRESUMING THAT THE SELF-INTEREST OF ORGANISATIONS, SPECIFICALLY BANKS AND OTHERS, WAS SUCH THAT THEY WERE BEST CAPABLE OF PROTECTING THEIR OWN SHAREHOLDERS AND THE EQUITY.”
Are you sure? Are you sure that what is happening now hasn’t been on the cards for some time? Are you sure that all of this wasn’t planned for and engineered by people just like you a long time ago? Is your partial confession meant to diffuse some of the mounting outrage? Are you worried, Alan? Do you and yours think you may have gone too far this time? Do you think you may not be able to contain the backlash?
I hope you’re worried, Alan, anxiety and fear should be the lot of very bad men.
The Chairman of the Congressional Oversight and Reform Committee, Henry Waxman,(also Jewish) responded to Greenspan’s confessions thus:
“THE LIST OF MISTAKES IS LONG AND THE COST TO TAXPAYERS IS STAGGERING. OUR REGULATORS BECAME ENABLERS RATHER THAN ENFORCERS. THEIR TRUST IN THE WISDOM OF THE MARKETS WAS INFINITE. THE MANTRA BECAME THAT GOVERNMENT REGULATION IS WRONG. THE MARKET IS INFALLIBLE. FOR TOO LONG, THE PREVAILING ATTITUDE IN WASHINGTON HAS BEEN THAT THE MARKET ALWAYS KNOWS BEST. THE FEDERAL RESERVE HAD THE AUTHORITY TO STOP THE IRRESPONSIBLE LENDING PRACTICES, BUT ITS LONG-TIME CHAIRMAN, ALAN GREENSPAN, REJECTED PLEAS THAT HE INTERVENE.”On 24 October 2008, The Daily Mail commented thus upon the above:
“The man once hailed as one of the most accomplished central bankers in America's history confessed he was in 'a state of shocked disbelief'…Robert Rubin and Alan Greenspan were more responsible than anyone else for creating the financial climate where fanatically dishonest and greedy creatures like Bernard Madoff and Rubin himself could prosper. They, and the politicians who empowered them,are primarily to blame for the world-wide banking catastrophe that overtook us.
The humbled former Fed chief, who has written best-selling books on the economy, has been blasted by critics who claim he left interest rates too low for too long, spurring an unsustainable housing boom, and failed to crackdown on sub prime mortgages being doled out to home-buyers who didn't satisfy conventional borrowing requirements.
It was the collapse of these mortgages and rising defaults a year ago that triggered the current crisis…
Mr Greenspan was hauled in front of the House of Representatives Oversight Committee along with former U.S. Treasury Secretary John Snow and Securities and Exchange Commission chairman Christopher Cox as Congress sought to discover how much regulatory failings contributed to the crisis…
Mr Waxman, a Democrat, asked point-blank whether Mr Greenspan agreed he was wrong in failing to intervene in the markets when he was in charge of the U.S. central bank. MR GREENSPAN HAS LONG ARGUED THAT REGULATORY INTRUSION SLOWS THE ECONOMY. 'My question is simple: Were you wrong?' asked Mr Waxman.
Mr Greenspan said he was 'partially wrong' in the case of credit default swaps, complex trading tools meant to act as insurance for bond buyers against default... It was the closest he got to accepting some blame for the financial calamity that has reverberated around the world.”
Of themoney-men mentioned in this essay, I believe Michael Gooch, Chuck Prince and Henry Paulson to be of Northern European origin. Franklin Raines, CEO at Fannie Mae, is black and Angelo Mozilo is Hispanic.
As for Robert and Bruce Toll, Chad Dreier and Dwight Schar, I’m not sure what their racial origins might be. As previously mentioned, Bernard Madoff, is Jewish. Clinton’s Treasury Secretary, Robert Rubin, and the man chosen to be Treasury Secretary in Obama’s administration, Lawrence Summers, are also Jewish. Obama’s man in Wall Street, Rubin’s son, Jamie, is Jewish, as are Tim Geithner and Peter Orszag, who were also immediately pencilled in for top governmental positions with Barack Obama.
Ben Bernanke, the current Head of the Federal Reserve, Alan Greenspan and the financiers, Charles Schwab; Richard Fuld; James Cayne; Maurice Greenberg; Daniel Meyers, Ronald Perelman and Herbert and Marion Sandler are Jewish also.
On 22 December 2008, The Daily Express told us this:
"Bankers at four City firms have collected BONUSES OF MORE THAN £6.4BILLION THIS YEAR, despite the worst financial crisis since 1929, it emerged yesterday. While the rest of the country struggles under the ravages of the recession, London-based traders at Goldman Sachs, Morgan Stanley, Merrill Lynch and Dresdner Kleinwort have been notified of their bumper payouts. They come despite the banks having reported a dramatic fall in profits and the Government bail-out of the banking sector.Oh yes, Vince. With a Nationalist government in power, they would be. But with your lot, the Tories and New Labour in power, they will carry right on taking the p***, just as they always have. The Express continued:
The huge payouts will hand further ammunition to those critics who blame the greed of bankers for the global economic crisis. Liberal Democrat treasury spokesman Vince Cable said those claiming big bonuses were 'LUCKY NOT TO BE BEHIND BARS'."
"Even those working at the four banks concerned were surprised by the size of the bonuses. One employee said... 'The injustice is that senior people are getting bonuses at a time when the bank is losing money.'What Gordon Brown says and what Gordon Brown does are, of course, very different things.
Goldman Sachs, which employs around 6,000 people in the UK, has admitted it has a bonus pot of £1.73billion. Morgan Stanley has a bonus pool of some £2billion, while Merrill Lynch has a pot of around £2.33billion.
At Dresdner Kleinwort, the investment banking arm of the German insurance giant Allianz, is paying out bonuses DESPITE LAYING OFF 1,000 WORKERS... A representative for the union Unite said...
'The banks should be trying to repair the damage that greed and recklessness have done to the economy, and sorting out lending to businesses so that people can stay in work, rather than rewarding the behaviour that has caused the terrible hardships the people of this country now face.'
Mr Cable said... 'These people are simply helping themselves to what ultimately belongs to the public'.
News of the vast bonuses comes after GORDON BROWN PLEDGED THAT BANKS SEEKING HELP FROM THE GOVERNMENTHAD GREED CONDITIONS WHICH WOULD 'BRING AN END TO REWARDS FOR FAILURE'. Both the Prime Minister and the Chancellor Alistair Darling said earlier this year that EXORBITANT BONUSES PAID TO BANKERS WOULD BE BETTER REGULATED IN THE FUTURE.
Mr Brown said that 'going forward, REWARDS WILL ONLY BE BASED ON PERFORMANCE and long-term value creation. For this Government, and I believe the whole country, THE GUIDING IDEA IS FAIR| REWARD FOR HARD WORK, EFFORT AND ENTERPRISE:NOT INCENTIVES FOR IRRESPONSIBILITY OR EXCESSIVE RISK-TAKING FOR WHICH THEREST OF US HAVE PAID,' he said."
Ladies and gentlemen, a simple question: do you think creatures like Tony Blair, Gordon Brown, George Bush and Barack Obama are going to make the bad guys cough up their ill-gotten gains? Do you think that they will be made to pay for their crimes?
I reckon one or two will get a well-publicised slap on the wrist (Benrie Madoff a case in point) but most will slink off sniggering with everything they managed to filch out of us since Reagan and Thatcher started deregulating the markets and enfranchising the bad. And the good guys will, as ever, be left to clean up and pay for the mess.
I can promise you this: if the Nationalist was in power in the Western world, the greedy and immoral would be punished. As would the politicians who encouraged them to behave so destructively.
If you are one of the many who lose out in the coming years because of the depravity of the globalist elite, shouldn't you consider listening a little more closely to anyone courageous enough to want them punished? After all, those who still insist you must despise the British Nationalist are the very people who gave us sub-prime and the credit crunch.
And lied us into war with Iraq. And always put the foreigner first in our own country. And dumbed us down and drugged us up. And rammed political correctness down our throats. The BNP, the National Front et al. didn't do any of these things.
Those you keep on voting for did all of them.
From here on in, ladies and gentlemen, you really should take heed of your ancestral voices.
Those who went before put a verb in the English Dictionary for your instruction and protection. To Roman Catholic and to Protestant are not verbs. To Muslim isn't a verb either. To Sunni, to Shi'ite, to Hindu, Buddhist, Sikh, Shinto and to Pagan, none of these are verbs.
To Arab, Asian, to negro, Eskimo, to aborigine, oriental, occidental and caucasian are not verbs either. To English, Scottish, Welsh, Irish and to British aren'tt verbs, nor is to Nazi, to Fascist or to Nationalist.
To jew, however, is a verb. To jew means to cheat, to steal, to swindle.
Your ancestors weren't anti-Semitic. They were honest and straightforward and told it as they saw it.
Just as we should.