Posted on 09/14/2009 10:07:09 AM PDT by FromLori
A BBC production of the last days of Lehman Brothers is a must see. You have to read between the lines a bit, but the production shows how Treasury Secretary Paulson treated Lehman different from the way he handled others that had just as many problems as Lehman. In a nice touch, the BBC hints that Paulson tipped off former Goldman man, and then Merrill CEO, John Thain, of the trouble ahead----which was behind Merrill's sale to Bank of America.
The dramatization does a nice job of showing Thain's style in landing an incredible $29 per share for Merrill from Bank of America in the middle of the crisis.
The dramatization is an hour long, but after you see it once, you are going to want to see it again. It gives a real solid inside feel and is very accurate as far as all the public facts. Except for the Geithner character, there is great casting.
The film is here. Note: Ignore the video to the left and click where it says, "Let me watch."
bump for later watch.
If we were a sane society these jokers would be tarred and feathered.
Someone allowed Lehman to be the first while passing over others.
Someone allowed it to happen when it happened, no sooner and no later.
They knew it would have to happen back in March 2008. (See NYT, etc. articles about Fannie/Freddie and subprime assets)
Someone had their eye fixed on Nov 4th.
Someone was feeling anxiety over a sudden reversal in the polls with about a month to election day. A new name/face had captivated the nation and turned an eight point deficit into a 10 point bounce/lead.
A certain candidate had just returned from Europe and folks were listing the trip as one of the Jump the Shark moments in his campaign.
Things were looking grim for the prospects of a new leftist radicalization that looked like a shoe-in only days before.
Until someone made the call.
Lehman became the U.S.’s reichstag. You know the rest.
No question favorites were being played by the feds.
P I N G
Im not up on this ...why was Lehnman the one to fail?
Short answer, because Paulson was recruited from Goldman Saks and Lehman was the major competitor for Goldman Saks.
Bump for later
Your thoughts?
I think you are very correct and Lehman became the U.S.’s Reichstag. Someone must be held responsible, Henry Paulson, Soros, GWB, the Congress Whores or whoever else was involved...what to do now???
But this is only exotic fiction. I knew how it would end. Everybody thought they were making a killing. Some people thought they were rich. Nobody is talking about billions in forged securities being sold to suckers worldwide. Not yet. But some day perhaps people will wake up. Long after the shredders have chewed up all the hard evidence.
Lehman’s Fuld should be in jail-—Fuld still enjoys a 20-room mansion in Greenwich, Conn. and made some $345 million during the last five years of running Lehman.
Fuld was the brains behind some of these cockamamie finanical instruments-—like credit default swaps—sold all over the USA and the world to unsuspecting buyers who lost a bundle.
ONE EXAMPLE-—LEHMAN’S BANKRUPTCY COST FLORIDA BIG BUCKS
(1) Florida stands to lose $1 billion from Lehman Brothers’ bankruptcy.
(2) Lehman Bros managed Fla’s public assets, sold securities, underwrote bond deals and handled residential and commercial MORTGAGES.
(3) Local Fla governments are stuck with about $556 million in tainted securities that they can’t redeem.
(4) More than $440 million disappeared from the Fla pension fund.
(5) Counties, cities and school districts face a loss of more than $300 million for roads, sewers and schools.
(6) Fla has $290 million less to pay for everything from hurricane claims to health care, community colleges and care for infants with disabilities.
(7) The biggest casualty of Lehman is Florida’s giant public pension fund. It took a $230 million hit on Lehman stocks and bonds.
(8) The pension fund holds another $53 million in Lehman bonds that have lost most of their value.
(9) The pension fund has $323 million tied up in tarnished MORTGAGE-RELATED securities purchased from Lehman.
(10) If the Fla pension fund today sold the MORTGAGE-RELATED securities purchased from Lehman, the pension fund would lose about $188 million more.
How much did your state lose? One way to find out: a recent sale of $423M worth of claims on the remaining assets of bankrupt Lehman Bros (now known as Lehman Holdings) were sold by hedge fund Citadel Investment Group to Credit Suisse last week.
Now according to Lehman Holding’s Web site, the bankrupt company has accumulated $6B cash from its derivative contracts…....but it has an estimated $100B in claims.
Did your state make any claims against the bankrupt Lehman Holdings? The dimension of the claims would indicate how much they lost.
“Fuld was the brains behind some of these cockamamie finanical instruments-—like credit default swaps”
” Let’s see.....2 billion CDS....hmmmmm...mean average FICO score 580....hmmmmm......B- .......Yes.... YES B- it is !!(spinning roulette wheel)
He is proposing a final bankster coup d’état over our government. Nobody in the media was watching. Except maybe FOX News:
Video: Judge Andrew Napolitano On Obama Pushing Bankster Takeover
In fact, as Judge Napolitano notes in the video above, if the proposals Obama urged onto to the American people today are implemented -- It will amount to a final coup d’état by the banksters and their technocrats and enforcers at the Federal Reserve, the unconstitutional and privately held bankster cartel operation that masquerades as a government agency.
These 'reforms' would install a dictatorial regulatory power by the international bankers over entire U.S. economy — right down to the local grocer and the hot dog vendor on the corner. It will require you to ask permission for the most mundane and routine of financial transactions. It will control your life down to the smallest detail.
FOX News' Judge Napolitano notes: if implemented, the unconstitutional proposals Obama urged in his speech on Wall Street yesterday will amount to a final coup d’état by banksters, their technocrats and enforcers, at the Federal Reserve (*the privately-held bankster cartel that masquerades as a government agency).
Obama's "reforms" would install a dictatorial regulatory power controlled by international bankers over the entire US economy — down to the local grocer and hot dog vendor on the corner. It will control our lives down to the smallest detail. It will require us to ask permission for the most mundane and routine of financial transactions.
IT MUST BE BE RESISTED AT ALL COSTS.
VIDEO LINK POSTED ABOVE Judge Andrew Napolitano On Obama/Bankster Takeover
===============================================
* EXCERPT http://mises.org/story/1353
The establishment of the Federal Reserve followed lengthy debates and disputes. Central banking was a topic the Congress of 1913 approached gingerly. America had its experiments with early forms of central banks and had repelled them. Interesting to note, too, that the initial charter of the Federal Reserve was good for only twenty years. Permanence was not established until the McFadden Act in 1927. The mistrust of government power still lingered in the air, though its scent was not as strong as it had been in prior generations, it was certainly much thicker than in the climate of warmed over socialism that permeates today's governmental chambers.
Despite this, the Act itself was vague in its purpose as most creations of political compromise tend to be. The essential feature of the Federal Reserve System, though, was its ability to pool the gold reserves of many banks and thereby make it easier for national member banks to issue notes. In simple terms, the Fed would allow banks greater freedom to inflate by giving them greater flexibility in skirting the restraints of the older gold standard.
By Christopher Mayer, commercial lender for Provident Bank in the suburbs of Washington, D.C.
ping to post #17.
Does “someone” = Soros? Sanders? Chinese?
Remember (last year) all the talk about short selling and India, Indonesia or another SE Asia being the source? What ever happened to that little gem of knowledge?
ping to post #17
Because Paulsen and tax cheat timmy wanted their competitors government sachs and jp morgan to be bigger and healthier.
Good info thanks people do not realize the connection betwen obama and his favorite banker jp morgan.
This pretty much sums it up
http://bluelori.blogspot.com/2009/08/in-case-you-missed-connection-between.html
Obama will keep this up until he is impeached.
B T T T
~~BUMP!
OMG!
The media wants everyone to look at Paulson as a way of tying this whole thing to President Bush, but the real humdinger is that Goldman Sacs was in fact Obama’s largest campaign donor. I have always been suspicious about the timing of the ‘crash’. I truly think Bush was hoodwinked by this Goldman cabal.
Obama's "reforms" would install a dictatorial regulatory power controlled by international bankers over the entire US economy — down to the local grocer and hot dog vendor on the corner. It will control our lives down to the smallest detail. It will require us to ask permission for the most mundane and routine of financial transactions.
We need more guerrilla journalists out there - we're running out of time...
Thanks for the ping.
... to #17.
BUMP
1. The subprime mortgage crisis reached a critical stage during the first week of September 2008, characterized by severely contracted liquidity in the global credit markets and insolvency threats to investment banks and other institutions.
2. Reserve balances from banks in the Federal Reserve System began increasing over required levels of about $10 billion at the beginning of September 2008, just after the Democratic and Republican national conventions, and just before the stock market crash and presidential debates.
3. Clinton, Obama Harlem meeting 9/11
4. On Friday afternoon September 12, Hank Paulson told Wall Street that the government would not step in to save Lehman.
Barclays walked away from the negotiating table on September 13th or 14th.
There was physically not enough time, before the opening of the markets on Monday September 15th, for Lehman to negotiate anything with anyone else. Lehman was forced to file for Chapter 11 on Monday September 15th, and a few days later Barclays was able to cherry pick Lehman's best assets and business units and buy them for a reduced price.
5. HEADLINE
Wall Street Meltdown: The Sky Is Falling
By: Pamela Leavey
September 15th, 2008 @ 9:09 am
6. 16/09/09 "The Scotsman" -- - SLAM. Slam. Slam. Slam. Like a scene from a gathering of Mafia dons, the doors of 30 black Lincolns slammed shut as their besuited occupants stepped out into a Manhattan downpour – and into a global financial storm.
That storm broke yesterday, with stock markets tumbling around the world. In London, the FTSE 100 plunged almost 4 per cent to 5204.2. Scotland's banking giants were among the biggest victims. HBOS slumped 17.5 per cent; Royal Bank of Scotland lost 12.2 per cent. In the US, the Dow Jones industrial average suffered its biggest fall since 9/11
7. On The Financial Crisis McCain Gives Speech, Obama Holds Press Conference
Added by Mark Nickolas on Sep 19, 2008
8. Rupert Cornwell: Wall Street meltdown rekindles Obama's fire
Out of America: After a summer in which the Republican candidate has made all the running, events are at last starting to fit the Democrats' script.
According to James Campbell, the mid-September financial crisis hit the 2008 presidential election like a bolt out of the blue, transforming it from a horserace in which John McCain had a real chance of victory into a one-sided contest in which Barack Obama enjoyed a decisive advantage.
9. Sunday, 21 September 2008
Bill Clinton: He's really, really glad to see John McCain
Exerpt:
John McCain, in suspending his presidential campaign to (eventually) head back to Washington from New York to help the push for a financial rescue plan, may have nixed a planned appearance on "Late Night with David Letterman" and cancelled a chat with Indian Prime Minister Manmohan Singh.
But McCain wasn't about to snub his old friend, Bill Clinton, this morning. And the ex-president, for all his expressions of support for Barack Obama and predictions of victory in November for his fellow Democrat, continues to give the impression he's definitely hedging his bets.
DON'T WE JUST KNOW IT!!!
ping
We must always keep in mind zero is but a willing puppet in all this. He goes along with anything that is contrary to good government (in the best interest of the whole nation). But it goes much deeper then that. Many of the things that have come to past and now are staged to become realities, have long been written about. Long before zero was born. The banks run the world.
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