The Mortgage Crisis

May 6th, 2009 MSNBČ/NY Times suggest Taxpayer's Should Take the Risk Joe Kernan of Squawk Box and the NY Times suggest that BofA and the government can convert taxpayer preferred shares for riskier common share. LEGEND 2005-2008 A "psychologic improbability". Subprime Lending Congress, Fed, SEC, IMF fail to protect consumers and identify concerns expressed by experts AMERICA ROBBED BLIND THE MORTGAGE CRISIS National Debt Uptick Rule Bailouts O 100 Years in the Making O Time Event Banking Panic Alan Greenspan FAILURE 2004 President Bush Reappoints Alan Greenspan to Chairman of Fed- eral Reserve In an unprecedented fifth consecu- tive term, Greenspan served as Fed Chairman from 1987 to 2007. 2008 TARP – Geitner negotiates $800B bailout of Banks/AIG - taxpayers receive preferred stock to secure investment 2008 Commerce Secretary Judd Gregg says great investment for taxpayers - retum of 8% and secure. BAILOUT 1992 President Clinton Reappoints Alan Greenspan to Chairman of Federal Reserve Greenspan served as a core member of Clint's economic team. Greg Farrell $11 trillion The founding fathers of the United States wanted to create a financial system that would not allow private interests to impact national fiscal policy. Whether our current financial My #1 Banker! Mr. Clinton is very busy. system represents that which the patriots of this nation had in mind when creating the US BANKS May 6th, 2009 Bank Stress Tests indicate initial banking system, or whether it represents exactly what they feared is up to you. HELP! Welcome to 100 years of Banking & "The Mortgage Crisis". Bank of America Needs $34B Government says BofA needs more "equity" www.BlackCommentator.com *************** ****** The Fed Doesn't Have to Pay Back Maiden Lane II $6.17 trillion 1907 Bank Panic-J.P. Morgan Lends Money to Shore up Banking System Wealthy investors leverage the fact that banks never hold enough money and pull their money out at once AIG I'm Out of a Job! President Reagan. I represent the wealthiest people in the world, and the investment banks. 1987 President Reagan Nominates Alan Greenspan to Chair Federal Reserve - "Black Monday" Greenspan servered during the 1987 stock market crash “Black Monday" the biggest investment banks & some of the most powerful and influential people in the world. March 2009 Federal Reserve & Treasury Joint State- ment - Fed wants Treasury's Safe invest- ments – Gives Treasury Risky investments Fed suggests moving Maiden Lane Il to Treasury balance sheet. Nice to meet you I work with FIVE of UNITED STATES WANTED JOB THE PANIC or 1907 2008 November – Taxpayer bailout and "Maiden Lane II" pay investment banks $60B on AIG Bailout Goldman, Deutche, JP Morgan get full investment back, taxpayers own a dead AIG. Investment banks paid 100 cents on the dollar. 2006 Paulson leaves Goldman, Appointed Secretary of Treasury Paulson was nominated on May 30, 2006, by U.S. President George W. Bush to succeed John Snow as the Treasury Secretary. If you don't like the direction we're moving in you don't have to play. RESERVE SYS Too Big to Fail Wall Street Bail Out 1929 Great Depression – Run on Bank of New York & Stock Market Cause Crash John D. Rockefeller "These 1951 Treasury Department Give Fed Full Independence -"The Accord" Federal Reserve gains full indepen- dence from govermment oversight. "Irreconcilable Differences 1913 Federal Reserve Act: Creation of the Federal Reserve: "The Fed" MERRILL LYNCH LEHMAN DROS 1850- 2008 Apco 15e BEAR STERNE 2002 Fed Cuts Rate to All Time Low -Greenspan says "be risky" - buy mortgages not treasuries. Fed Chairman Greenspan advisor for Deutsche Bank & JP Morgan. Holds positions on Council of Foreign Relations & Group of 30. 1923- 2OO8 1914- 2008 Public outcry and fear from 1907 supports the creation of the federal serve-a private institution funded by private investors & investment banks which lends to the government when in deficit. are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again." 1992 Graham-Leach Bliley Repealed part of the Glass-Steagall Act of 1933. Allowed combing of I'm #2! Aoco 94 2003 Timothy Geitner -Appointed Presi- dent of the Federal Reserve Bank of New York Extensive Resume: Treasury, Federal Reserve, Council Foreign Relations. International Monetary Fund, Federal Open Market Committee, Group of 30. REST IN PEACE REST IN PEAGE insurance and securities compa- nies – read: AIG. Placed holding companies of big American broker- ages beyond SEC oversight. $0.00 2007 Bank/Finance Panics - "Blind Shorts" create stock market panic AIG, Bear Sterns, Lehman Brothers, Freddie Mac, Fannie May tumble as investors coordinate stock shorts. January 2009 Geitner appointed by Obama as Secretary of the Treasury Former Fed Chairman hired by President to run the Treasury or National Bank. February 2009 Judd Gregg nominated as Secretary of Commerce Judd Gregg withdraws nomination for Commerce Secretary – "irreconcilable differences" with Administration 1900 1910 1920 1930 1940 1950 1960 1970 1980 1933 1990 2000 Glass-Steagall Act The Glass-Steagall Act of 1933 estab- lished the Federal Deposit Insurance Corporation (FDIC) in the united States and included banking reforms, some of which were designed to control speculation. 2001 TIME 2002 2003 1987 2004 2005 Black Monday 2006 2007 1997-1998 1911 Senator Nelson Aldrich "Falls in Love with Taxes" Aldrich develops relation- ships with J.P. Morgan, daughter marries son of Rockefeller. Writes initial (Nintendo ENTERTAnmenT 2008 Asian Financial Crisis The Federal Reserve floods the alobal market with US dollars. Economists Stiglitz & Sachs compare the crash to a "classic bank run" prompted by sudden risk shock. CONTROL DECK 2009 2007 SEC removes uptick rule - stock market vulnerable April 8 SEC Considers Reinstatement of Uptick Rule February 2009 AIG Bailout – Press Leak, Media CNN=POLITICS Blitz, Outrage and Populist draft of Federal Reserve Act. 1938 2004 Goldman Sachs, Paulson, urge SEC to loosen up Regulations Releases the major investment houses from the net capital rule, the requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. Backlash SEC Adopts Uptick Rule - Protects against run on banks/public companies Implemented by Joseph Kennedy, Sr. Prevents inves- tors from pooling capital and purposefully diving down the stock price of a company. км Despite billions of dollars in unnecessary bailouts to invest- ment banks, media coverage explodes around $120M execu- tive compensation scandal. ATTENTION MANIPULATION STOCK WARKET -57% 1916 President Woodrow Wilson- "I am a most unhappy man; unwit- tingly I have ruined my country." After Signing into Creation the Federal Reserve via the Federal Reserve Act. 2005 SEC considers removal of uptick rule, Experts concerned about "Blind Shorts" SEC Chairman BilI Donaldson 2003-2005. Special adviser to Nelson Rockefeller, Chairman and CEO of the New York Stock Exchange. ANY OF THE TRADEMARKS, SERVICE MARKS, COLLECTIVE MARKS, DESIGN RIGHTS, PERSONALITY RIGHTS OR SIMILAR RIGHTS THAT ARE MENTIONED, USED OR CITED ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. UERAL May 6th, 2009 MSNBČ/NY Times suggest Taxpayer's Should Take the Risk Joe Kernan of Squawk Box and the NY Times suggest that BofA and the government can convert taxpayer preferred shares for riskier common share. LEGEND 2005-2008 A "psychologic improbability". Subprime Lending Congress, Fed, SEC, IMF fail to protect consumers and identify concerns expressed by experts AMERICA ROBBED BLIND THE MORTGAGE CRISIS National Debt Uptick Rule Bailouts O 100 Years in the Making O Time Event Banking Panic Alan Greenspan FAILURE 2004 President Bush Reappoints Alan Greenspan to Chairman of Fed- eral Reserve In an unprecedented fifth consecu- tive term, Greenspan served as Fed Chairman from 1987 to 2007. 2008 TARP – Geitner negotiates $800B bailout of Banks/AIG - taxpayers receive preferred stock to secure investment 2008 Commerce Secretary Judd Gregg says great investment for taxpayers - retum of 8% and secure. BAILOUT 1992 President Clinton Reappoints Alan Greenspan to Chairman of Federal Reserve Greenspan served as a core member of Clint's economic team. Greg Farrell $11 trillion The founding fathers of the United States wanted to create a financial system that would not allow private interests to impact national fiscal policy. Whether our current financial My #1 Banker! Mr. Clinton is very busy. system represents that which the patriots of this nation had in mind when creating the US BANKS May 6th, 2009 Bank Stress Tests indicate initial banking system, or whether it represents exactly what they feared is up to you. HELP! Welcome to 100 years of Banking & "The Mortgage Crisis". Bank of America Needs $34B Government says BofA needs more "equity" www.BlackCommentator.com *************** ****** The Fed Doesn't Have to Pay Back Maiden Lane II $6.17 trillion 1907 Bank Panic-J.P. Morgan Lends Money to Shore up Banking System Wealthy investors leverage the fact that banks never hold enough money and pull their money out at once AIG I'm Out of a Job! President Reagan. I represent the wealthiest people in the world, and the investment banks. 1987 President Reagan Nominates Alan Greenspan to Chair Federal Reserve - "Black Monday" Greenspan servered during the 1987 stock market crash “Black Monday" the biggest investment banks & some of the most powerful and influential people in the world. March 2009 Federal Reserve & Treasury Joint State- ment - Fed wants Treasury's Safe invest- ments – Gives Treasury Risky investments Fed suggests moving Maiden Lane Il to Treasury balance sheet. Nice to meet you I work with FIVE of UNITED STATES WANTED JOB THE PANIC or 1907 2008 November – Taxpayer bailout and "Maiden Lane II" pay investment banks $60B on AIG Bailout Goldman, Deutche, JP Morgan get full investment back, taxpayers own a dead AIG. Investment banks paid 100 cents on the dollar. 2006 Paulson leaves Goldman, Appointed Secretary of Treasury Paulson was nominated on May 30, 2006, by U.S. President George W. Bush to succeed John Snow as the Treasury Secretary. If you don't like the direction we're moving in you don't have to play. RESERVE SYS Too Big to Fail Wall Street Bail Out 1929 Great Depression – Run on Bank of New York & Stock Market Cause Crash John D. Rockefeller "These 1951 Treasury Department Give Fed Full Independence -"The Accord" Federal Reserve gains full indepen- dence from govermment oversight. "Irreconcilable Differences 1913 Federal Reserve Act: Creation of the Federal Reserve: "The Fed" MERRILL LYNCH LEHMAN DROS 1850- 2008 Apco 15e BEAR STERNE 2002 Fed Cuts Rate to All Time Low -Greenspan says "be risky" - buy mortgages not treasuries. Fed Chairman Greenspan advisor for Deutsche Bank & JP Morgan. Holds positions on Council of Foreign Relations & Group of 30. 1923- 2OO8 1914- 2008 Public outcry and fear from 1907 supports the creation of the federal serve-a private institution funded by private investors & investment banks which lends to the government when in deficit. are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again." 1992 Graham-Leach Bliley Repealed part of the Glass-Steagall Act of 1933. Allowed combing of I'm #2! Aoco 94 2003 Timothy Geitner -Appointed Presi- dent of the Federal Reserve Bank of New York Extensive Resume: Treasury, Federal Reserve, Council Foreign Relations. International Monetary Fund, Federal Open Market Committee, Group of 30. REST IN PEACE REST IN PEAGE insurance and securities compa- nies – read: AIG. Placed holding companies of big American broker- ages beyond SEC oversight. $0.00 2007 Bank/Finance Panics - "Blind Shorts" create stock market panic AIG, Bear Sterns, Lehman Brothers, Freddie Mac, Fannie May tumble as investors coordinate stock shorts. January 2009 Geitner appointed by Obama as Secretary of the Treasury Former Fed Chairman hired by President to run the Treasury or National Bank. February 2009 Judd Gregg nominated as Secretary of Commerce Judd Gregg withdraws nomination for Commerce Secretary – "irreconcilable differences" with Administration 1900 1910 1920 1930 1940 1950 1960 1970 1980 1933 1990 2000 Glass-Steagall Act The Glass-Steagall Act of 1933 estab- lished the Federal Deposit Insurance Corporation (FDIC) in the united States and included banking reforms, some of which were designed to control speculation. 2001 TIME 2002 2003 1987 2004 2005 Black Monday 2006 2007 1997-1998 1911 Senator Nelson Aldrich "Falls in Love with Taxes" Aldrich develops relation- ships with J.P. Morgan, daughter marries son of Rockefeller. Writes initial (Nintendo ENTERTAnmenT 2008 Asian Financial Crisis The Federal Reserve floods the alobal market with US dollars. Economists Stiglitz & Sachs compare the crash to a "classic bank run" prompted by sudden risk shock. CONTROL DECK 2009 2007 SEC removes uptick rule - stock market vulnerable April 8 SEC Considers Reinstatement of Uptick Rule February 2009 AIG Bailout – Press Leak, Media CNN=POLITICS Blitz, Outrage and Populist draft of Federal Reserve Act. 1938 SN TE FAS O THE T Wn 2004 Goldman Sachs, Paulson, urge SEC to loosen up Regulations Releases the major investment houses from the net capital rule, the requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. sanc Backlash SEC Adopts Uptick Rule - Protects against run on banks/public companies Implemented by Joseph Kennedy, Sr. Prevents inves- tors from pooling capital and purposefully diving down the stock price of a company. w Despite billions of dollars in unnecessary bailouts to invest- ment banks, media coverage explodes around $120M execu- tive compensation scandal. ATTENTION MANIPULATION STOCK WARKET -57% 1916 President Woodrow Wilson- "I am a most unhappy man; unwit- tingly I have ruined my country." After Signing into Creation the Federal Reserve via the Federal Reserve Act. 2005 SEC considers removal of uptick rule, Experts concerned about "Blind Shorts" SEC Chairman BilI Donaldson 2003-2005. Special adviser to Nelson Rockefeller, Chairman and CEO of the New York Stock Exchange. ANY OF THE TRADEMARKS, SERVICE MARKS, COLLECTIVE MARKS, DESIGN RIGHTS, PERSONALITY RIGHTS OR SIMILAR RIGHTS THAT ARE MENTIONED, USED OR CITED ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. UERAL May 6th, 2009 MSNBČ/NY Times suggest Taxpayer's Should Take the Risk Joe Kernan of Squawk Box and the NY Times suggest that BofA and the government can convert taxpayer preferred shares for riskier common share. LEGEND 2005-2008 A "psychologic improbability". Subprime Lending Congress, Fed, SEC, IMF fail to protect consumers and identify concerns expressed by experts AMERICA ROBBED BLIND THE MORTGAGE CRISIS National Debt Uptick Rule Bailouts O 100 Years in the Making O Time Event Banking Panic Alan Greenspan FAILURE 2004 President Bush Reappoints Alan Greenspan to Chairman of Fed- eral Reserve In an unprecedented fifth consecu- tive term, Greenspan served as Fed Chairman from 1987 to 2007. 2008 TARP – Geitner negotiates $800B bailout of Banks/AIG - taxpayers receive preferred stock to secure investment 2008 Commerce Secretary Judd Gregg says great investment for taxpayers - retum of 8% and secure. BAILOUT 1992 President Clinton Reappoints Alan Greenspan to Chairman of Federal Reserve Greenspan served as a core member of Clint's economic team. Greg Farrell $11 trillion The founding fathers of the United States wanted to create a financial system that would not allow private interests to impact national fiscal policy. Whether our current financial My #1 Banker! Mr. Clinton is very busy. system represents that which the patriots of this nation had in mind when creating the US BANKS May 6th, 2009 Bank Stress Tests indicate initial banking system, or whether it represents exactly what they feared is up to you. HELP! Welcome to 100 years of Banking & "The Mortgage Crisis". Bank of America Needs $34B Government says BofA needs more "equity" www.BlackCommentator.com *************** ****** The Fed Doesn't Have to Pay Back Maiden Lane II $6.17 trillion 1907 Bank Panic-J.P. Morgan Lends Money to Shore up Banking System Wealthy investors leverage the fact that banks never hold enough money and pull their money out at once AIG I'm Out of a Job! President Reagan. I represent the wealthiest people in the world, and the investment banks. 1987 President Reagan Nominates Alan Greenspan to Chair Federal Reserve - "Black Monday" Greenspan servered during the 1987 stock market crash “Black Monday" the biggest investment banks & some of the most powerful and influential people in the world. March 2009 Federal Reserve & Treasury Joint State- ment - Fed wants Treasury's Safe invest- ments – Gives Treasury Risky investments Fed suggests moving Maiden Lane Il to Treasury balance sheet. Nice to meet you I work with FIVE of UNITED STATES WANTED JOB THE PANIC or 1907 2008 November – Taxpayer bailout and "Maiden Lane II" pay investment banks $60B on AIG Bailout Goldman, Deutche, JP Morgan get full investment back, taxpayers own a dead AIG. Investment banks paid 100 cents on the dollar. 2006 Paulson leaves Goldman, Appointed Secretary of Treasury Paulson was nominated on May 30, 2006, by U.S. President George W. Bush to succeed John Snow as the Treasury Secretary. If you don't like the direction we're moving in you don't have to play. RESERVE SYS Too Big to Fail Wall Street Bail Out 1929 Great Depression – Run on Bank of New York & Stock Market Cause Crash John D. Rockefeller "These 1951 Treasury Department Give Fed Full Independence -"The Accord" Federal Reserve gains full indepen- dence from govermment oversight. "Irreconcilable Differences 1913 Federal Reserve Act: Creation of the Federal Reserve: "The Fed" MERRILL LYNCH LEHMAN DROS 1850- 2008 Apco 15e BEAR STERNE 2002 Fed Cuts Rate to All Time Low -Greenspan says "be risky" - buy mortgages not treasuries. Fed Chairman Greenspan advisor for Deutsche Bank & JP Morgan. Holds positions on Council of Foreign Relations & Group of 30. 1923- 2OO8 1914- 2008 Public outcry and fear from 1907 supports the creation of the federal serve-a private institution funded by private investors & investment banks which lends to the government when in deficit. are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again." 1992 Graham-Leach Bliley Repealed part of the Glass-Steagall Act of 1933. Allowed combing of I'm #2! Aoco 94 2003 Timothy Geitner -Appointed Presi- dent of the Federal Reserve Bank of New York Extensive Resume: Treasury, Federal Reserve, Council Foreign Relations. International Monetary Fund, Federal Open Market Committee, Group of 30. REST IN PEACE REST IN PEAGE insurance and securities compa- nies – read: AIG. Placed holding companies of big American broker- ages beyond SEC oversight. $0.00 2007 Bank/Finance Panics - "Blind Shorts" create stock market panic AIG, Bear Sterns, Lehman Brothers, Freddie Mac, Fannie May tumble as investors coordinate stock shorts. January 2009 Geitner appointed by Obama as Secretary of the Treasury Former Fed Chairman hired by President to run the Treasury or National Bank. February 2009 Judd Gregg nominated as Secretary of Commerce Judd Gregg withdraws nomination for Commerce Secretary – "irreconcilable differences" with Administration 1900 1910 1920 1930 1940 1950 1960 1970 1980 1933 1990 2000 Glass-Steagall Act The Glass-Steagall Act of 1933 estab- lished the Federal Deposit Insurance Corporation (FDIC) in the united States and included banking reforms, some of which were designed to control speculation. 2001 TIME 2002 2003 1987 2004 2005 Black Monday 2006 2007 1997-1998 1911 Senator Nelson Aldrich "Falls in Love with Taxes" Aldrich develops relation- ships with J.P. Morgan, daughter marries son of Rockefeller. Writes initial (Nintendo ENTERTAnmenT 2008 Asian Financial Crisis The Federal Reserve floods the alobal market with US dollars. Economists Stiglitz & Sachs compare the crash to a "classic bank run" prompted by sudden risk shock. CONTROL DECK 2009 2007 SEC removes uptick rule - stock market vulnerable April 8 SEC Considers Reinstatement of Uptick Rule February 2009 AIG Bailout – Press Leak, Media CNN=POLITICS Blitz, Outrage and Populist draft of Federal Reserve Act. 1938 SN TE FAS O THE T Wn 2004 Goldman Sachs, Paulson, urge SEC to loosen up Regulations Releases the major investment houses from the net capital rule, the requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. sanc Backlash SEC Adopts Uptick Rule - Protects against run on banks/public companies Implemented by Joseph Kennedy, Sr. Prevents inves- tors from pooling capital and purposefully diving down the stock price of a company. w Despite billions of dollars in unnecessary bailouts to invest- ment banks, media coverage explodes around $120M execu- tive compensation scandal. ATTENTION MANIPULATION STOCK WARKET -57% 1916 President Woodrow Wilson- "I am a most unhappy man; unwit- tingly I have ruined my country." After Signing into Creation the Federal Reserve via the Federal Reserve Act. 2005 SEC considers removal of uptick rule, Experts concerned about "Blind Shorts" SEC Chairman BilI Donaldson 2003-2005. Special adviser to Nelson Rockefeller, Chairman and CEO of the New York Stock Exchange. ANY OF THE TRADEMARKS, SERVICE MARKS, COLLECTIVE MARKS, DESIGN RIGHTS, PERSONALITY RIGHTS OR SIMILAR RIGHTS THAT ARE MENTIONED, USED OR CITED ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. UERAL May 6th, 2009 MSNBČ/NY Times suggest Taxpayer's Should Take the Risk Joe Kernan of Squawk Box and the NY Times suggest that BofA and the government can convert taxpayer preferred shares for riskier common share. LEGEND 2005-2008 A "psychologic improbability". Subprime Lending Congress, Fed, SEC, IMF fail to protect consumers and identify concerns expressed by experts AMERICA ROBBED BLIND THE MORTGAGE CRISIS National Debt Uptick Rule Bailouts O 100 Years in the Making O Time Event Banking Panic Alan Greenspan FAILURE 2004 President Bush Reappoints Alan Greenspan to Chairman of Fed- eral Reserve In an unprecedented fifth consecu- tive term, Greenspan served as Fed Chairman from 1987 to 2007. 2008 TARP – Geitner negotiates $800B bailout of Banks/AIG - taxpayers receive preferred stock to secure investment 2008 Commerce Secretary Judd Gregg says great investment for taxpayers - retum of 8% and secure. BAILOUT 1992 President Clinton Reappoints Alan Greenspan to Chairman of Federal Reserve Greenspan served as a core member of Clint's economic team. Greg Farrell $11 trillion The founding fathers of the United States wanted to create a financial system that would not allow private interests to impact national fiscal policy. Whether our current financial My #1 Banker! Mr. Clinton is very busy. system represents that which the patriots of this nation had in mind when creating the US BANKS May 6th, 2009 Bank Stress Tests indicate initial banking system, or whether it represents exactly what they feared is up to you. HELP! Welcome to 100 years of Banking & "The Mortgage Crisis". Bank of America Needs $34B Government says BofA needs more "equity" www.BlackCommentator.com *************** ****** The Fed Doesn't Have to Pay Back Maiden Lane II $6.17 trillion 1907 Bank Panic-J.P. Morgan Lends Money to Shore up Banking System Wealthy investors leverage the fact that banks never hold enough money and pull their money out at once AIG I'm Out of a Job! President Reagan. I represent the wealthiest people in the world, and the investment banks. 1987 President Reagan Nominates Alan Greenspan to Chair Federal Reserve - "Black Monday" Greenspan servered during the 1987 stock market crash “Black Monday" the biggest investment banks & some of the most powerful and influential people in the world. March 2009 Federal Reserve & Treasury Joint State- ment - Fed wants Treasury's Safe invest- ments – Gives Treasury Risky investments Fed suggests moving Maiden Lane Il to Treasury balance sheet. Nice to meet you I work with FIVE of UNITED STATES WANTED JOB THE PANIC or 1907 2008 November – Taxpayer bailout and "Maiden Lane II" pay investment banks $60B on AIG Bailout Goldman, Deutche, JP Morgan get full investment back, taxpayers own a dead AIG. Investment banks paid 100 cents on the dollar. 2006 Paulson leaves Goldman, Appointed Secretary of Treasury Paulson was nominated on May 30, 2006, by U.S. President George W. Bush to succeed John Snow as the Treasury Secretary. If you don't like the direction we're moving in you don't have to play. RESERVE SYS Too Big to Fail Wall Street Bail Out 1929 Great Depression – Run on Bank of New York & Stock Market Cause Crash John D. Rockefeller "These 1951 Treasury Department Give Fed Full Independence -"The Accord" Federal Reserve gains full indepen- dence from govermment oversight. "Irreconcilable Differences 1913 Federal Reserve Act: Creation of the Federal Reserve: "The Fed" MERRILL LYNCH LEHMAN DROS 1850- 2008 Apco 15e BEAR STERNE 2002 Fed Cuts Rate to All Time Low -Greenspan says "be risky" - buy mortgages not treasuries. Fed Chairman Greenspan advisor for Deutsche Bank & JP Morgan. Holds positions on Council of Foreign Relations & Group of 30. 1923- 2OO8 1914- 2008 Public outcry and fear from 1907 supports the creation of the federal serve-a private institution funded by private investors & investment banks which lends to the government when in deficit. are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again." 1992 Graham-Leach Bliley Repealed part of the Glass-Steagall Act of 1933. Allowed combing of I'm #2! Aoco 94 2003 Timothy Geitner -Appointed Presi- dent of the Federal Reserve Bank of New York Extensive Resume: Treasury, Federal Reserve, Council Foreign Relations. International Monetary Fund, Federal Open Market Committee, Group of 30. REST IN PEACE REST IN PEAGE insurance and securities compa- nies – read: AIG. Placed holding companies of big American broker- ages beyond SEC oversight. $0.00 2007 Bank/Finance Panics - "Blind Shorts" create stock market panic AIG, Bear Sterns, Lehman Brothers, Freddie Mac, Fannie May tumble as investors coordinate stock shorts. January 2009 Geitner appointed by Obama as Secretary of the Treasury Former Fed Chairman hired by President to run the Treasury or National Bank. February 2009 Judd Gregg nominated as Secretary of Commerce Judd Gregg withdraws nomination for Commerce Secretary – "irreconcilable differences" with Administration 1900 1910 1920 1930 1940 1950 1960 1970 1980 1933 1990 2000 Glass-Steagall Act The Glass-Steagall Act of 1933 estab- lished the Federal Deposit Insurance Corporation (FDIC) in the united States and included banking reforms, some of which were designed to control speculation. 2001 TIME 2002 2003 1987 2004 2005 Black Monday 2006 2007 1997-1998 1911 Senator Nelson Aldrich "Falls in Love with Taxes" Aldrich develops relation- ships with J.P. Morgan, daughter marries son of Rockefeller. Writes initial (Nintendo ENTERTAnmenT 2008 Asian Financial Crisis The Federal Reserve floods the alobal market with US dollars. Economists Stiglitz & Sachs compare the crash to a "classic bank run" prompted by sudden risk shock. CONTROL DECK 2009 2007 SEC removes uptick rule - stock market vulnerable April 8 SEC Considers Reinstatement of Uptick Rule February 2009 AIG Bailout – Press Leak, Media CNN=POLITICS Blitz, Outrage and Populist draft of Federal Reserve Act. 1938 SN TE FAS O THE T Wn 2004 Goldman Sachs, Paulson, urge SEC to loosen up Regulations Releases the major investment houses from the net capital rule, the requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. sanc Backlash SEC Adopts Uptick Rule - Protects against run on banks/public companies Implemented by Joseph Kennedy, Sr. Prevents inves- tors from pooling capital and purposefully diving down the stock price of a company. w Despite billions of dollars in unnecessary bailouts to invest- ment banks, media coverage explodes around $120M execu- tive compensation scandal. ATTENTION MANIPULATION STOCK WARKET -57% 1916 President Woodrow Wilson- "I am a most unhappy man; unwit- tingly I have ruined my country." After Signing into Creation the Federal Reserve via the Federal Reserve Act. 2005 SEC considers removal of uptick rule, Experts concerned about "Blind Shorts" SEC Chairman BilI Donaldson 2003-2005. Special adviser to Nelson Rockefeller, Chairman and CEO of the New York Stock Exchange. ANY OF THE TRADEMARKS, SERVICE MARKS, COLLECTIVE MARKS, DESIGN RIGHTS, PERSONALITY RIGHTS OR SIMILAR RIGHTS THAT ARE MENTIONED, USED OR CITED ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. UERAL May 6th, 2009 MSNBČ/NY Times suggest Taxpayer's Should Take the Risk Joe Kernan of Squawk Box and the NY Times suggest that BofA and the government can convert taxpayer preferred shares for riskier common share. LEGEND 2005-2008 A "psychologic improbability". Subprime Lending Congress, Fed, SEC, IMF fail to protect consumers and identify concerns expressed by experts AMERICA ROBBED BLIND THE MORTGAGE CRISIS National Debt Uptick Rule Bailouts O 100 Years in the Making O Time Event Banking Panic Alan Greenspan FAILURE 2004 President Bush Reappoints Alan Greenspan to Chairman of Fed- eral Reserve In an unprecedented fifth consecu- tive term, Greenspan served as Fed Chairman from 1987 to 2007. 2008 TARP – Geitner negotiates $800B bailout of Banks/AIG - taxpayers receive preferred stock to secure investment 2008 Commerce Secretary Judd Gregg says great investment for taxpayers - retum of 8% and secure. BAILOUT 1992 President Clinton Reappoints Alan Greenspan to Chairman of Federal Reserve Greenspan served as a core member of Clint's economic team. Greg Farrell $11 trillion The founding fathers of the United States wanted to create a financial system that would not allow private interests to impact national fiscal policy. Whether our current financial My #1 Banker! Mr. Clinton is very busy. system represents that which the patriots of this nation had in mind when creating the US BANKS May 6th, 2009 Bank Stress Tests indicate initial banking system, or whether it represents exactly what they feared is up to you. HELP! Welcome to 100 years of Banking & "The Mortgage Crisis". Bank of America Needs $34B Government says BofA needs more "equity" www.BlackCommentator.com *************** ****** The Fed Doesn't Have to Pay Back Maiden Lane II $6.17 trillion 1907 Bank Panic-J.P. Morgan Lends Money to Shore up Banking System Wealthy investors leverage the fact that banks never hold enough money and pull their money out at once AIG I'm Out of a Job! President Reagan. I represent the wealthiest people in the world, and the investment banks. 1987 President Reagan Nominates Alan Greenspan to Chair Federal Reserve - "Black Monday" Greenspan servered during the 1987 stock market crash “Black Monday" the biggest investment banks & some of the most powerful and influential people in the world. March 2009 Federal Reserve & Treasury Joint State- ment - Fed wants Treasury's Safe invest- ments – Gives Treasury Risky investments Fed suggests moving Maiden Lane Il to Treasury balance sheet. Nice to meet you I work with FIVE of UNITED STATES WANTED JOB THE PANIC or 1907 2008 November – Taxpayer bailout and "Maiden Lane II" pay investment banks $60B on AIG Bailout Goldman, Deutche, JP Morgan get full investment back, taxpayers own a dead AIG. Investment banks paid 100 cents on the dollar. 2006 Paulson leaves Goldman, Appointed Secretary of Treasury Paulson was nominated on May 30, 2006, by U.S. President George W. Bush to succeed John Snow as the Treasury Secretary. If you don't like the direction we're moving in you don't have to play. RESERVE SYS Too Big to Fail Wall Street Bail Out 1929 Great Depression – Run on Bank of New York & Stock Market Cause Crash John D. Rockefeller "These 1951 Treasury Department Give Fed Full Independence -"The Accord" Federal Reserve gains full indepen- dence from govermment oversight. "Irreconcilable Differences 1913 Federal Reserve Act: Creation of the Federal Reserve: "The Fed" MERRILL LYNCH LEHMAN DROS 1850- 2008 Apco 15e BEAR STERNE 2002 Fed Cuts Rate to All Time Low -Greenspan says "be risky" - buy mortgages not treasuries. Fed Chairman Greenspan advisor for Deutsche Bank & JP Morgan. Holds positions on Council of Foreign Relations & Group of 30. 1923- 2OO8 1914- 2008 Public outcry and fear from 1907 supports the creation of the federal serve-a private institution funded by private investors & investment banks which lends to the government when in deficit. are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again." 1992 Graham-Leach Bliley Repealed part of the Glass-Steagall Act of 1933. Allowed combing of I'm #2! Aoco 94 2003 Timothy Geitner -Appointed Presi- dent of the Federal Reserve Bank of New York Extensive Resume: Treasury, Federal Reserve, Council Foreign Relations. International Monetary Fund, Federal Open Market Committee, Group of 30. REST IN PEACE REST IN PEAGE insurance and securities compa- nies – read: AIG. Placed holding companies of big American broker- ages beyond SEC oversight. $0.00 2007 Bank/Finance Panics - "Blind Shorts" create stock market panic AIG, Bear Sterns, Lehman Brothers, Freddie Mac, Fannie May tumble as investors coordinate stock shorts. January 2009 Geitner appointed by Obama as Secretary of the Treasury Former Fed Chairman hired by President to run the Treasury or National Bank. February 2009 Judd Gregg nominated as Secretary of Commerce Judd Gregg withdraws nomination for Commerce Secretary – "irreconcilable differences" with Administration 1900 1910 1920 1930 1940 1950 1960 1970 1980 1933 1990 2000 Glass-Steagall Act The Glass-Steagall Act of 1933 estab- lished the Federal Deposit Insurance Corporation (FDIC) in the united States and included banking reforms, some of which were designed to control speculation. 2001 TIME 2002 2003 1987 2004 2005 Black Monday 2006 2007 1997-1998 1911 Senator Nelson Aldrich "Falls in Love with Taxes" Aldrich develops relation- ships with J.P. Morgan, daughter marries son of Rockefeller. Writes initial (Nintendo ENTERTAnmenT 2008 Asian Financial Crisis The Federal Reserve floods the alobal market with US dollars. Economists Stiglitz & Sachs compare the crash to a "classic bank run" prompted by sudden risk shock. CONTROL DECK 2009 2007 SEC removes uptick rule - stock market vulnerable April 8 SEC Considers Reinstatement of Uptick Rule February 2009 AIG Bailout – Press Leak, Media CNN=POLITICS Blitz, Outrage and Populist draft of Federal Reserve Act. 1938 SN TE FAS O THE T Wn 2004 Goldman Sachs, Paulson, urge SEC to loosen up Regulations Releases the major investment houses from the net capital rule, the requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. sanc Backlash SEC Adopts Uptick Rule - Protects against run on banks/public companies Implemented by Joseph Kennedy, Sr. Prevents inves- tors from pooling capital and purposefully diving down the stock price of a company. w Despite billions of dollars in unnecessary bailouts to invest- ment banks, media coverage explodes around $120M execu- tive compensation scandal. ATTENTION MANIPULATION STOCK WARKET -57% 1916 President Woodrow Wilson- "I am a most unhappy man; unwit- tingly I have ruined my country." After Signing into Creation the Federal Reserve via the Federal Reserve Act. 2005 SEC considers removal of uptick rule, Experts concerned about "Blind Shorts" SEC Chairman BilI Donaldson 2003-2005. Special adviser to Nelson Rockefeller, Chairman and CEO of the New York Stock Exchange. ANY OF THE TRADEMARKS, SERVICE MARKS, COLLECTIVE MARKS, DESIGN RIGHTS, PERSONALITY RIGHTS OR SIMILAR RIGHTS THAT ARE MENTIONED, USED OR CITED ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. UERAL May 6th, 2009 MSNBČ/NY Times suggest Taxpayer's Should Take the Risk Joe Kernan of Squawk Box and the NY Times suggest that BofA and the government can convert taxpayer preferred shares for riskier common share. LEGEND 2005-2008 A "psychologic improbability". Subprime Lending Congress, Fed, SEC, IMF fail to protect consumers and identify concerns expressed by experts AMERICA ROBBED BLIND THE MORTGAGE CRISIS National Debt Uptick Rule Bailouts O 100 Years in the Making O Time Event Banking Panic Alan Greenspan FAILURE 2004 President Bush Reappoints Alan Greenspan to Chairman of Fed- eral Reserve In an unprecedented fifth consecu- tive term, Greenspan served as Fed Chairman from 1987 to 2007. 2008 TARP – Geitner negotiates $800B bailout of Banks/AIG - taxpayers receive preferred stock to secure investment 2008 Commerce Secretary Judd Gregg says great investment for taxpayers - retum of 8% and secure. BAILOUT 1992 President Clinton Reappoints Alan Greenspan to Chairman of Federal Reserve Greenspan served as a core member of Clint's economic team. Greg Farrell $11 trillion The founding fathers of the United States wanted to create a financial system that would not allow private interests to impact national fiscal policy. Whether our current financial My #1 Banker! Mr. Clinton is very busy. system represents that which the patriots of this nation had in mind when creating the US BANKS May 6th, 2009 Bank Stress Tests indicate initial banking system, or whether it represents exactly what they feared is up to you. HELP! Welcome to 100 years of Banking & "The Mortgage Crisis". Bank of America Needs $34B Government says BofA needs more "equity" www.BlackCommentator.com *************** ****** The Fed Doesn't Have to Pay Back Maiden Lane II $6.17 trillion 1907 Bank Panic-J.P. Morgan Lends Money to Shore up Banking System Wealthy investors leverage the fact that banks never hold enough money and pull their money out at once AIG I'm Out of a Job! President Reagan. I represent the wealthiest people in the world, and the investment banks. 1987 President Reagan Nominates Alan Greenspan to Chair Federal Reserve - "Black Monday" Greenspan servered during the 1987 stock market crash “Black Monday" the biggest investment banks & some of the most powerful and influential people in the world. March 2009 Federal Reserve & Treasury Joint State- ment - Fed wants Treasury's Safe invest- ments – Gives Treasury Risky investments Fed suggests moving Maiden Lane Il to Treasury balance sheet. Nice to meet you I work with FIVE of UNITED STATES WANTED JOB THE PANIC or 1907 2008 November – Taxpayer bailout and "Maiden Lane II" pay investment banks $60B on AIG Bailout Goldman, Deutche, JP Morgan get full investment back, taxpayers own a dead AIG. Investment banks paid 100 cents on the dollar. 2006 Paulson leaves Goldman, Appointed Secretary of Treasury Paulson was nominated on May 30, 2006, by U.S. President George W. Bush to succeed John Snow as the Treasury Secretary. If you don't like the direction we're moving in you don't have to play. RESERVE SYS Too Big to Fail Wall Street Bail Out 1929 Great Depression – Run on Bank of New York & Stock Market Cause Crash John D. Rockefeller "These 1951 Treasury Department Give Fed Full Independence -"The Accord" Federal Reserve gains full indepen- dence from govermment oversight. "Irreconcilable Differences 1913 Federal Reserve Act: Creation of the Federal Reserve: "The Fed" MERRILL LYNCH LEHMAN DROS 1850- 2008 Apco 15e BEAR STERNE 2002 Fed Cuts Rate to All Time Low -Greenspan says "be risky" - buy mortgages not treasuries. Fed Chairman Greenspan advisor for Deutsche Bank & JP Morgan. Holds positions on Council of Foreign Relations & Group of 30. 1923- 2OO8 1914- 2008 Public outcry and fear from 1907 supports the creation of the federal serve-a private institution funded by private investors & investment banks which lends to the government when in deficit. are days when many are discouraged. In the 93 years of my life, depressions have come and gone. Prosperity has always returned and will again." 1992 Graham-Leach Bliley Repealed part of the Glass-Steagall Act of 1933. Allowed combing of I'm #2! Aoco 94 2003 Timothy Geitner -Appointed Presi- dent of the Federal Reserve Bank of New York Extensive Resume: Treasury, Federal Reserve, Council Foreign Relations. International Monetary Fund, Federal Open Market Committee, Group of 30. REST IN PEACE REST IN PEAGE insurance and securities compa- nies – read: AIG. Placed holding companies of big American broker- ages beyond SEC oversight. $0.00 2007 Bank/Finance Panics - "Blind Shorts" create stock market panic AIG, Bear Sterns, Lehman Brothers, Freddie Mac, Fannie May tumble as investors coordinate stock shorts. January 2009 Geitner appointed by Obama as Secretary of the Treasury Former Fed Chairman hired by President to run the Treasury or National Bank. February 2009 Judd Gregg nominated as Secretary of Commerce Judd Gregg withdraws nomination for Commerce Secretary – "irreconcilable differences" with Administration 1900 1910 1920 1930 1940 1950 1960 1970 1980 1933 1990 2000 Glass-Steagall Act The Glass-Steagall Act of 1933 estab- lished the Federal Deposit Insurance Corporation (FDIC) in the united States and included banking reforms, some of which were designed to control speculation. 2001 TIME 2002 2003 1987 2004 2005 Black Monday 2006 2007 1997-1998 1911 Senator Nelson Aldrich "Falls in Love with Taxes" Aldrich develops relation- ships with J.P. Morgan, daughter marries son of Rockefeller. Writes initial (Nintendo ENTERTAnmenT 2008 Asian Financial Crisis The Federal Reserve floods the alobal market with US dollars. Economists Stiglitz & Sachs compare the crash to a "classic bank run" prompted by sudden risk shock. CONTROL DECK 2009 2007 SEC removes uptick rule - stock market vulnerable April 8 SEC Considers Reinstatement of Uptick Rule February 2009 AIG Bailout – Press Leak, Media CNN=POLITICS Blitz, Outrage and Populist draft of Federal Reserve Act. 1938 SN TE FAS O THE T Wn 2004 Goldman Sachs, Paulson, urge SEC to loosen up Regulations Releases the major investment houses from the net capital rule, the requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. sanc Backlash SEC Adopts Uptick Rule - Protects against run on banks/public companies Implemented by Joseph Kennedy, Sr. Prevents inves- tors from pooling capital and purposefully diving down the stock price of a company. w Despite billions of dollars in unnecessary bailouts to invest- ment banks, media coverage explodes around $120M execu- tive compensation scandal. ATTENTION MANIPULATION STOCK WARKET -57% 1916 President Woodrow Wilson- "I am a most unhappy man; unwit- tingly I have ruined my country." After Signing into Creation the Federal Reserve via the Federal Reserve Act. 2005 SEC considers removal of uptick rule, Experts concerned about "Blind Shorts" SEC Chairman BilI Donaldson 2003-2005. Special adviser to Nelson Rockefeller, Chairman and CEO of the New York Stock Exchange. ANY OF THE TRADEMARKS, SERVICE MARKS, COLLECTIVE MARKS, DESIGN RIGHTS, PERSONALITY RIGHTS OR SIMILAR RIGHTS THAT ARE MENTIONED, USED OR CITED ARE THE PROPERTY OF THEIR RESPECTIVE OWNERS. UERAL