Posted on 01/20/2013 12:44:03 PM PST by Oberon
From the Fed Transcripts:
MR. LACKER. If I could just follow up on that, Mr. Chairman.
CHAIRMAN BERNANKE. Yes, go ahead.
MR. LACKER. Vice Chairman Geithner, did you say that they are unaware of what we’re considering or what we might be doing with the discount rate?
VICE CHAIRMAN GEITHNER. Yes.
MR. LACKER. Vice Chairman Geithner, I spoke with Ken Lewis, President and CEO of Bank of America, this afternoon, and he said that he appreciated what Tim Geithner was arranging by way of changes in the discount facility. So my information is different from that.
Oh I see.
Reuters has contacted Mr. Lacker who backed and in fact expanded his claim:
Jeffrey Lacker, the head of the Richmond Fed, originally raised the allegation during a Fed conference call in August 2007, and he stuck to his 5-year-old claim against the current U.S. treasury secretary in a statement provided to Reuters on Friday.
"From conversations I had prior to the video conference call on August 16, 2007, I was aware of discussions among a few large banks about borrowing from their discount windows to support the asset backed commercial paper market," Lacker said in the statement. "My understanding was that (New York Fed) President Geithner had discussed a reduction in the discount rate with these banks in connection with these initiatives."
If you or I were to do something like this we'd go directly to jail, especially if we traded on it, and it is clear that many people did.
If you remember, this was the infamous August 17th Discount Rate Cut that buried myself and a huge number of other people who were short (and correctly so) at the time. The market inexplicably rose into the close on the 16th -- and then the hammer came down on the 17th before the open.
So may I ask two questions:
Why is Geithner not under indictment?
Why have none of the other FOMC members been held to account for misprison on this event, which they all heard on the conference call including the Chairman, and thus have all been aware of -- and done nothing about -- for the last five years?
Yeah.
Mother should I trust the government?
Answer: Not as far as you can throw it.
The election of Obama and the market crash were engineere, planned.
The 500 billion dollar in two hour drop in the money markets was an attack on our coutnry, an act of war.
[Recall Pres Bush mentioning a financial attack on the U.S. in one of his last speeches? Well, nothing came of it because the Dems were the ones who did it.]
Geithner has been doing the bidding of someone else for awhile.
Apparently since 2007 at least by this proof.
Why isn’t he under indictment? It’s a rhetorical question, I get that, but it makes me want to ask this questions: Have you not been paying attention?
Geithner has been doing the bidding of someone else for awhile.
Apparently since 2007 at least by this proof.
My FR post of November 21, 2008:
“Remember when Bush called a meeting on the meltdown before the election and invited McCain and Obama? On his way to the meeting, an Obama advisor got a call from a “Goldman contact” disclosing Paulson’s game plan, which Obama then used to throw in everyone’s face and toss the meeting into turmoil. My bet is that Geithner was the originator of the leak and that this, among other things, established his bona fides with the Kennedy Wing of the Democrats (aka “Obama”). Therefore he gets elevated to Treasury Secretary. Geithner has always been doing someone else’s bidding. That’s his MO.”
Yuppers.
Laws don’t apply to the banks.
As long as the banks keep cashing gummint checks, they can do whatever they dam well please.
As has his boss. Why do you think he refused to give up his BlackBerry?
Incriminating evidence onit.
If the SHTF, these guys needs to be “held accountable”
Laws don’t apply to Democrats.
Special Rules for Special People.
It don't matter. If you haven't learned the lesson from David Gregory's illegal magazine, Bill clinton's perjury or Hillary Clinton's billing records and Scooter Libby's memory failure that "progresives" have a special set of laws and conservatives are persecuted and prosecuted, then you ain't EVER going to learn the lesson of modern politics.
Prosecutorial discretion is only for liberals.
Hasn’t he heard? Laws don’t apply to liberal elites.
Well two thoughts. First, tax cheat Timmy will be the next case heard after Corzine’s. Second, he had to lie because the whole thing was Bush’s fault. If the first item will never happen, you can make bank that the second will be stated by some idiot.
Thanks Oberon.
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