Bloomberg’s David Reilly reports:
Jan. 29 (Bloomberg) — The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.
Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials.
We’re talking about the Federal Reserve Bank of New York, whose role as the most influential part of the federal-reserve system — apart from the matter of AIG’s bailout — deserves further congressional scrutiny.
The New York Fed is in the hot seat for its decision in November 2008 to buy out, for about $30 billion, insurance contracts AIG sold on toxic debt securities to banks, including Goldman Sachs Group Inc., Merrill Lynch & Co., Societe Generale and Deutsche Bank AG, among others. That decision, critics say, amounted to a back-door bailout for the banks, which received 100 cents on the dollar for contracts that would have been worth far less had AIG been allowed to fail.
That move came a few weeks after the Federal Reserve and Treasury Department propped up AIG in the wake of Lehman Brothers Holdings Inc.’s own mid-September bankruptcy filing.
All this information was pretty much out in the public for anyone that wanted to see it taking place.
All you need to do is watch the Alex Jones film “The Obama Deception” to learn about the extensive ties between the Fed, the Treasury, and the Obama administration.
The banks were some of the largest single corporate contributors to the Obama campaign, with Goldman Sachs topping out at a whopping 1 million dollars in political donations for the 2008 Obama campaign.
In hind sight, that one million paid off in spades as Goldman reaped appointment after appointment for some of the most powerful financial positions in Washington. Those ex-Goldman executives used their power to rape and pillage the American people like a bunch of Viking looters.
Now it appears the mainstream media has been forced into reviewing the actions of these criminals.
These men deserve to be tried for treason against the State for waging economic warfare. Simply getting fired with a huge golden parachute would be an insult to the public.