Posted on 03/27/2010 12:35:26 PM PDT by Frantzie
In the middle of a blog item about credit default swaps, Felix Salmon of Reuters drops the following nugget about Sen. Chris Dodd and the CME Group, which owns the Chicago Mercantile Exchange and the New York Mercantile Exchange.
"Dodd’s wife, Jackie Clegg, is a director of the CME, which paid her $153,219 in 2009; she also owns shares in the company worth about $235,000. (The CME makes no mention of her husband on its website or in its SEC filings, despite the fact that he’s surely a big part of the reason why she has the position.)"
Why is this notable?
(Excerpt) Read more at latimesblogs.latimes.com ...
So the stage was set. Hedge funds probably were linked in through Soros - John Paulson, JC Flowers, David Shaw, SAC and bunch of others. The CME and others in Chicago could allow futures, options and credit default swaps (CDS) to be used to go down the list. Goldman would be safe and would make money off of it. Morgan Stanley and JP Morgan would also be spared. They just went down the list: AIG, Bear, Wachovia, Lehman, Indy Mac and picked em off one at a time.
They probably cleared $200 billion. Bush, Chris Cox at SEC were stunned. Hank Paulson probably knew but would not cross his old cronies at Goldman.
Now Dodd's is doing a payback deal with the CME to force corporations to run their trades through the CME. The thing about a trading exchange is they take a piece of everything like the Mafia.
Someone needs to connect the dots but most people are too scared to go near this. This is a Chicago thing with the commodity, options and other exchanges there. If people think this is BS - you do not know those exchanges.
One other thing. Be wary of the market now. More than a few people think the plunge protection team has driven the market up using S&P futures. A few think the hogs (small investors) are getting fattened up for another crash. If rates take off because they cannot sell treasuries then bonds will get hit too.
I agree with you...and my husband was on one of those Chicago exchanges...I remember when Hillary made $100,000 on a cattle contract....LOL
It would not take that much money to cause the panic that was caused in the late summer of 2008. In many cases, they were shorting with no money down (naked shorting) and could have 40 to 1 leverage.
It requires connecting quite a few dots but Chicago is where it happened - at those exchanges. If a writer was able to connect them - they would probably be very worried about their safety. I pretty much pieced it together when it all started and sadly had pretty good idea what was going to happen.
BFL
Or was that a separate transaction run by Soros and/or some of his buddies.
Love to hear your take on this!
“If rates take off because they cannot sell treasuries then bonds will get hit too.”
Do you mean interest rates?
What should one do if one is in the market now?
Perception is reality; but in the case of world fiance. . .that reality means something.
The Left has historically wreaked havoc, pain and suffering upon huge populations so as to serve their agenda. Nothing different here; save we have not yet arrived at full revolution. . .but we can see them now, working on that one or at least an excuse to avoid the 'perception' of one.(i.e. Obama's own militia. . .the 'fear MO per free speech' et al ad nauseum).
Yes. Watch out for rates. You can go to google or yahoo finance and watch ticker tlt which holds ling term bonds. If it starts dropping - consider exiting bond funds for maybe CDs.
Probably both. I still have no idea who the $500 billion in money market funds that disappears in I thought minutes. It could have been a sovereign fund (govt owned fund) like CHina or most likely the Middle East. My guess is that was a 9/11 part 2 to get someone elected.
My impression is Bush and SEC Chris Cox were totally blindsided. Bush should have had a good securities guy like his dad had Nick Brady. The problem is the trap had been set years ago and when it was sprung they had no time. Cox should have immeditely stopped short and raised margin requires for shorting so they need all cash. This would have slowed down the hedge fund shorts.
This was a Chicago deal with CRA lawsuits forcing banks to make loans, total corruption at Fannie and Freddie then setting it up for the hedge funds shorts (Soros and others) then using the margin, leverage and derivatives form the Chicago exchanges. Very clever and very evil. They planned this out years ago. Create a disaster for the banks with bad loans, pick the weakest link in the chain, etc. Goldman was able to take out it’s competitors Bear and Lehman and they were in on it. Probably as just the securities firm for the short hedge funds.
This whole deal with Chris Dodd’s wife and CME (Chicago Mercantile Exchange) is part of this.
Also Schumer leaked info on I think Indy Mac which did mortgages. It got wiped out by the shorts and Soros, I think John Paulson, JC Flowers and Michael Dell bought it off Uncle Sam less than a year later.
They can tax loss carryfowards forever. This was probably the biggest set up and robbery in history. The dot com rip off might be second to that. Very crappy dot com IPOs were manipulated on the first day of trading to go from $15 to 150 in a day to drag the suckers in. Corzine was up to his eyeballs in that when he ran Goldman.
No one has ever written a book on this stuff because they value theie life.
Watch it very closely. This is not advice but if things start to crack and head down - consider getting out. Have a plan in advance where if it drops to x you seel half or whatever. Just have a plan in place that you have formulated. This takes out the emotion.
Do not become a deer in the headlights and start hoping.
I am not sure what their plan is for November. If it tanks between now and then - people will hate them more. They may tank it and have a more sinister plan.
Claire McCaskill (D-MO) is married to Joe Shepard (Slumlord).
Considering the millions over millions made by the real players, she is one cheap whore.
I have seen bits and pieces of speculation of this kind elsewhere, but yours is the most cogent.
What do you think they have planned going forward from here?
I doubt we have seen the end game yet.
I only know they wish to destroy America to enslave her with communism. Maybe even entirely wipe out the middle class. I wonder if the government will own the entire housing market, and destroy the dollar, to impoverish us all. But I tend to be pessimistic.
What are your thoughts?
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