Panel receives Timothy Geithner's call logs

Politico.com ^ | 01-24-10 | JAKE SHERMAN & EAMON JAVERS

[GOP_Lady]

The House Oversight and Government Reform committee this week received a list that will capture eyes from Wall Street to Washington.

Timothy Geithner’s call log during the tightest grips of the financial crisis show the then-New York Federal Reserve Board chairman made calls calls to U.K. Prime Minister Gordon Brown, New York Mayor Michael Bloomberg, Obama transition adviser Lee Sachs and Warren Buffet.

Goldman Sachs CEO Lloyd Blankfein, former Treasury Secretary Hank Paulson, JPMorgan Chase CEO Jamie Dimon, BlackRock CEO Larry Fink and former Lehman Bros. CEO Dick Fuld also spoke with Geithner. Fed Chairman Ben Bernanke got calls, as did former SEC Chairman Christopher Cox and Sen. Chuck Schumer (D-N.Y.).

Some of these individuals were called several times in fall 2008 as Congress executed a $700 billion bank bailout.

The 50-page document (part one, part two) obtained by POLITICO, is only a sliver of the 250,000 pages of documents that were received as part of Chairman Edolphus Towns’s subpoena for the Jan. 27 hearing.

The inquiry pits a Democratic chairman from New York — with his fiery Ranking Republican Darrell Issa of California — against a key member of the Obama administration.

The call log, which runs from Sept. 14, 2008, until Dec. 31, 2008, is likely to garner much attention both in New York and inside the Beltway.

The hearing is centering around bipartisan criticism that Geithner asked American International Group not to disclose the payment of credit-default-swap contracts — pricey insurance agreements that bet against a bank’s failure — to giant financial institutions after a bailout. Geithner has denied such claims.

Republicans, as well as plenty of critics in the financial world, will be combing through this list to see whether he had more involvement in that decision — which the New York Fed says was handled by lower-level officials — than has been acknowledged

[hoosiermama]

HHHhhmmmm?

[Mind-numbed Robot]

The plot thickens.

[onyx]

Oh yes, our Darrell Issa, US Congressman, San Diego’s North County, has been all over this!

It’s now headline news on the scroll for the overseas markets that DrO is watching!

[mojo114]

Pass it on

[patlin]

That's what I was thinking as well as thinking, why was he contacting members of the Nobama transition team that had no official duties?

This is going to be bigger than Watergate folks. Let the heads begin to roll.

[SoCalPol]

Darrell Issa was also exposing Chris Dodd.
One reason Dodd is retiring.

Months ago Issa also wrote an 80 page report on ACORN
that can be downloaded from his site.

[onyx]

Yes, but you see on this issue, Geithner testified that he was “out of the loop” and his emails prove he lied.

Issa has him NAILED.

[onyx]

I meant to post, his call logs.

[SoCalPol]

Issa has been on FOX re the Geithner issue.

Pack your bags Tim, you’re toast.

[onyx]

Oh, well football has been on ALL day at my house. I have not heard a news report, save for the overseas financial news a few minutes ago. TV will be mine soon.

[SoCalPol]

It wasn’t today.

I have on John Batchelor and he just had on a segment on Fannie and Freddie, the finalcial disaster that are on their way out.
to be replaced by who knows.

[Liz]

Congressional Panel receives Timothy Geithner's call logs

FR POSTED Nov 18, 2009 We need audits, WH cell phone records, computer links, wire-transfers, and bank records to get an accurate accounting of the whereabouts of our tax dollars used in this massive fraud.

REFERENCE On June 9, 2009 Ohaha called a press conference to announce, "Several financial institutions are set to pay back $68B to taxpayers." Resonable people (taxpayers) assumed that any money or profit would be returned to the general funds from whence it had come .......in order to pay down the debt. The truth, however, is that the money returned by the banks is finding new life as part of what amounts to a Treasury Dept slush fund controlled by Tim Geithner.

REFERENCE We kept reading and hearing about Ohaha rushing Congress to approve "a $787 billion stimulus package" early this year. Now uber-Lobbyist Thomas Hale Boggs, Esq, interviewed by nightly news several months ago said, "there's $2 TRILLION federal stimulus waiting to be distributed". Boggs said he was getting unprecedented numbers of calls from all over the US......from those who want a piece of it. (Boggs is the son of former Cong Hale Boggs and brother of former ABC-TV commentator Cokie Roberts).

FOLLOW THE MONEY Who's kidding who? This was no reporting error. This was money laundering.....purposefully done to get the stim to "insiders." The stim is nothing more than a slush fund----to be used for campaigns and for personal purposes.

THE STIMULUS SCAM---A DEM SLUSH FUND Americans are awakening to the fact that govt insiders are mishandling trillions in stimulus------that federal monies are being illegally directed to Democrat campaign coffers, or wire-transferred offshore into personal accounts......or being laundered in the states.

ITEM $17.5 billion stim disappeared when it hit NJ as the Dem Gov's reelection was gearing up, news reports stated.

ITEM Recovery.org (the stimulus reporting website financed with $18 million tax dollars) lists phantom districts and fake zip codes as having received millions of stim dollars.

ITEM Some 85% of Obama's stimulus is still in Washington under Ohaha's control being hoarded for imperiled Dems' 2010-12 elections. Obama's pork-laden stimulus, and other wasteful spending, isn't doing much good. US unemployment keep rising to levels not seen in decades, w/ scant hope of a rebound. Ergo, we can safely conclude that creating jobs was NOT the reason for Ohaha's trillion dollar stimulus.

REFERENCE Obama appointed Vice President Biden to oversee the dispersement of the trillions in stimulus.

"Hi there, Americans. My son and brother are gonna help me disperse the trillion dollar stiumulus. "

REFERENCE Fraudster had links to offshore fund run by Bidens
Reuters on Yahoo | 2/23/09 | BY Ajay Kamalakaran
(Excerpt) Read more at news.yahoo.com ...

(Reuters) – A fund of offshore hedge funds run by two members of VP Joe Biden's family was marketed exclusively by offshore firms controlled by Texas financier Allen Stanford, now in jail, charged by regulators with an $8 billion fraud, the Wall Street Journal said.

The Bidens $50 million fund was jointly branded between the Bidens' Paradigm Global Advisors LLC and the offshore Stanford Financial Group entity headquartered in Antigua, and was known as the Paradigm Stanford Capital Management Core Alternative Fund, the paper said. Stanford-related offshore companies marketed the Biden fund to investors and also invested about $2.7 million of their own money in the fund, the paper said, citing a lawyer for Paradigm.

Paradigm Global Advisors is owned through a holding company by the vice president Biden's son, Hunter, and Joe Biden's brother, James, according to the WSJ. Paradigm's attorney, Marc LoPresti, who represents Hunter Biden and James Biden, as well as Paradigm, told the paper he did not know which Stanford offshore entity invested the roughly $2.7 million. He told the paper the Bidens NEVER met or communicated with Stanford (/snicker).

[patlin]

Agnew ‘0’Biden, Oh My

[Cindy]

BUMP.

[stephenjohnbanker]

“He told the paper the Bidens NEVER met or communicated with Stanford (/snicker). “

Yeah sure, no problem...... ;-)

[maggief]

The plot thickens.

FLASHBACK:

http://www.businessinsider.com/henry-blodget-geithner-now-out-of-the-loop-resignation-talk-begins-2009-3

Geithner “Out Of The Loop,” Resignation Talk Begins
Henry Blodget | Mar. 17, 2009

EXCERPT

# He still has no coherent plan to fix the banking system
# He has convinced no one that he’s the right man to lead us out of this.
# He helped design the past administration’s failed bailouts
# He was the architect of the original AIG bailout
# He tacitly helped cover up the AIG “counterparty” bailout beneficiaries for 6 months
# He approved the latest round of AIG bonuses last week (according to AIG)

At the very least, Geithner needs to answer for his role in the original AIG bailout, which has been a disaster, as well as the counterparty cover-up.

In September, Geithner and Hank Paulson engineered an AIG bailout in which Paulson’s firm (and one of Geithner’s patrons on the New York Fed) secretly received $13 billion of taxpayer money that no taxpayer was told about. Now that taxpayers have found out about it, they are justifiably pissed.

//

http://www.nytimes.com/2008/09/13/business/13rescue.html?pagewanted=print

September 13, 2008
U.S. Gives Banks Urgent Warning to Solve Crisis
By ERIC DASH

This article was reported by Jenny Anderson, Edmund L. Andrews, Vikas Bajaj and Eric Dash and written by Mr. Dash.

As Lehman Brothers teetered Friday evening, Federal Reserve officials summoned the heads of major Wall Street firms to a meeting in Lower Manhattan and insisted they rescue the stricken investment bank and develop plans to stabilize the financial markets.

Timothy F. Geithner, the president of the New York Federal Reserve, called a 6 p.m. meeting so that bank officials could review their financial exposures to Lehman Brothers and work out contingency plans over the possibility that the government would need to orchestrate an orderly liquidation of the firm on Monday, according to people briefed on the meeting.

Flanked by Treasury Secretary Henry M. Paulson Jr. and Christopher Cox, the chairman of the Securities and Exchange Commission, he gathered the executives in person to impress on them the need to work together to resolve the current crisis.

Mr. Geithner told the participants that an industry solution was needed, no matter what, and that it was not about any individual bank, according to two people briefed on the meeting but who did not attend. They said he told them that if the industry failed to solve the problem their individual banks might be next.

A spokesman for the New York Federal Reserve Bank in New York confirmed the meeting but declined to provide details on the discussions. The Wall Street executives included the following chief executives: Lloyd Blankfein of the Goldman Sachs Group, James Dimon of JPMorgan Chase, John Mack of Morgan Stanley, Vikram Pandit of Citigroup and John Thain of Merrill Lynch. Representatives from the Royal Bank of Scotland and the Bank of New York Mellon were also present. Lehman Brothers was noticeably absent from the talks.

(snip)

//

Timeline:

http://www.nytimes.com/2009/09/13/weekinreview/13word.html

[Liz]

BIDENS: “Stanford, who?”

[SE Mom]

BTTT

[stephenjohnbanker]

Yeah ;-)

Maybe Biden can steal another speech. Is Neil Kinnock still alive?