"Bernanke's staff did not agree with him on bailing out AIG. I am talking about an email that he sent his staff, after his staff recommended that the FederalReserve not touch AIG, just like Lehman Brothers."
We break through the PR and the wool the establishment is trying to pull over our eyes, from MF Global to the Too Big to Fail Banks, to the Federal Reserve. We speak with trends forecaster Gerald Celente.
The lawsuit alleges that Bank of America and its former chief executive Kenneth Lewis deceived shareholders about a looming multi-billion loss at Merrill so that Bank of America shareholders would approve the takeover.
It can now be reported that the U.S. Senate Committee on Banking has new evidence showing that JP Morgan had a $200 million overdraft aka a second margin call on the London LIFFE Exchange three days before the MF Global bankruptcy fiasco was triggered.
This process has already begun in the sense that we’ve seen:
1- Key Wall Street players hiring famed defense attorneys (Lloyd Blankfein of Goldman Sachs)
2- The Fed distancing itself from its responsibility for the Crisis by: Suing Goldman Sachs
Opening itself to Q&A sessions and townhall meetings
Having “pro Fed” editorials written in the Wall Street Journal
Putting the blame for the Crisis and the US’s financial weakness on Congress’s shoulders
3- Various members of Congress (especially Ron Paul) and GOP Presidential candidates taking aim at the Federal Reserve.
Do not, for one minute, believe that the folks involved in the Crisis will get away with it. The only reason why we haven’t yet seen major players get slammed is because no one wants the system to crumble again. And the only way for the system to remain propped up is for the Powers That Be to appear to have things under control and be on good terms with one another.
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