Goldman Rules: Fed issues threat to destabilize markets if Congress gets oversight

July 10th, 2009 by stacyherbert

Stacy Summary:  Huge tip of the hat to Mike2liverpool for this!!!   Seems the Fed has learned a valuable lesson from Paulson . . . your thoughts!?

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63 responses so far ↓

  • Re: Consumer Financial Protection Agency!!!
    Ha! who do you think will be running this body?
    Ex/current employees from Goldman Sachs perhaps, or some of the unemployed bankers that the CIA couldn’t find a job for.
    They just keep creating bodies to oversee other bodies, with the word oversee used VERY loosely.

    On voting systems.
    Chavez had a good one in Venezuela. Paying Columbians to cross the border to vote. He uses slot machines for voting as well. Ching Ching!

  • RE: Slot-Machine voting

    Now there’s a good idea for an autocracy,
    everyone who turns out to the voting booths gets a token for a slot machine…
    you go into the booth, and try your luck

    Who knows, maybe you’ll be a the big winner?!?!?!
    It would definitely increase the voter turnout…

    meanwhile, I just heard Wolf Blitzer (I just watch CNN for the drug ads mainly… they are amusing when they rattle off the side-effects) announce earlier that there is a push to BAN CIGARETTES IN THE AMERICAN MILITARY!!!

    I guess they’re going to replace Nicotine with the new Sodium Methamphetamine salt replacement in the MRE packs…
    it worked for the Red Baron, no???

  • Brooksley Born got the same treatment back in 1998 when she tried to regulate derivatives.

    Brooksley Born, the Cassandra of the derivatives crisis

    In one call, Summers said, “I have 13 bankers in my office and they say if you go forward with this [regulation of derivatives] you will cause the worst financial crisis since World War II.”

    It seems like everytime someone threatens the Bankster’s obscene profit margins, they threaten the world with financial armageddon. Well we had “the worst financial crisis since World War II”. But it was because we didn’t regulate the financial derivatives.

    From the same article, Brooksley came to the conclusion that Greenspan was philosophically opposed to any form of financial regulation.

    Greenspan had an unusual take on market fraud, Born recounted: “He explained there wasn’t a need for a law against fraud because if a floor broker was committing fraud, the customer would figure it out and stop doing business with him.”

    So these same men who fought so hard against regulations of the derivative markets – Alan Greenspan, Robert Rubin, Larry Summers – are the same ones who now tell us that they were caught completely offguard when the inevitable bubble burst. And yet they are the same ones that Obama puts in charge to run the economy. I know I don’t have to tell you, Stacy, and Max about this, but it’s worth taking a little time and reminding yourselves and your readers about the story of Brooksley Born.

  • What is the fed hiding that they’re so afraid of. Hmmmmm.

  • gadzooks. The fed and wall street and especially goldman sachs(owners of the usa and everything you think and do) got caught big time with their hand in the cookie barrel. And the stupid american public is still mourning that moron mike jackson. Were doomed.

    Unless someone can link mike jacksons death to goldman sachs.

  • Yes, Oversite would destabilize the markets wouldnt it.

    Because no oversite has made the markets SO FREAKIN stable, since………………… well, since the FED began.

  • @Frank: great reminder….the good ol’ boy’s system rambles on…what was Donald Rumsfeld always is quoted as saying: ‘Known knowns, unknown knowns, etc….”.you get my drift….It’s like agreeing with them that the bullet killed the man not the other man holding the gun…

  • And now another CANADIAN PONZI fuckwad has ripped off more people (I think this is number 3 for the year???)

    http://www.cbc.ca/money/story/2009/07/10/montreal-investors.html

    Name: EARL JONES
    Est. Value : CDN$50 Million…

    if you have the displeasure of meeting this shit-head, please feel free to stab him in the throat…
    with a SPORK!!!!

  • ‘Secretive’ firms dominate US share trading : A minority of a new breed of electronic trading firm drives almost.. http://tinyurl.com/njntjx

  • @Giuseppe Bagodonutti says;
    “Berlusconi needs a fuzzy, wide-brim, purple bolero…
    and some see-through Platform boots with goldfish in the heels…”

    Yep, gna….gna….gna…… He’s Pimping out the country but he’s the most loved man of the world according to …..
    http://www.youtube.com/watch?v=-_zKCUG20xs

    Himself! LOL!

    He tried to get his regular prostitute into a politics job but I quess she never can do better as Cicciolina.

    Cicciolina was elected to represent the district of Rome. She received 20,000 votes, coming in second only to the founder of the Radical Party, Marco Panella.
    http://www.imow.org/community/viewImage?id=3563

    Blond hair, red lips and emphasized eyebrows were Cicciolina’s trademark. Even as Member of Italian Parliament, she refused to trade her signature look for a more conservative mien. http://www.imow.org/community/viewImage?id=3564

    Jos Collignon about Berlusconi
    http://images.volkskrant.com/volkskra/www/opinie/media/2009/03/forum090507_620_01.jpg

  • One might see this as an act of war on the people of the United States.
    Remember the fed is a bird that soars higher and further than the laws that govern these great shores.

  • @ Jon in montana…………………………Unless someone can link mike jacksons death to goldman sachs.

    I accept your challenge……….there is a rumour going round that Michael Jackson was going to promote/inform people during his upcoming tour about the law suit filed by the Austrian science journalist who has filed a law suit against the WHO, UN and various people in the White House (including the president) charging them with genocide and providing evidence that swine flu was manufactured and the subsequent vaccine will kill many people. She states that those she has filed charges against are either complicit or fully aware of these facts. Obviously if the rumour is true that Jacko was going to be telling people during his tour then that would be a big problem. I know it sounds like a conspiracy theory (and maybe it is) but apparantly there is evidence of a relationship between Jacko and the science journalist and that he supported her views.