Fact: The Bankers Theft of Our Money was Planned Well in Advance

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  • Posted on: 14 December 2010
  • By: Connecticut Man1

Just how far in advance? We have yet to figure that out. 6 Months? At the very least. More? Anything to suggest it wasn't years in advance? This is more Wikileaks news from #cablegate searches and brought to light by the Guardian.

Remember how the Bush administration insisted that every bank had to be bailed out "now, Now, NOW!" in this unforeseen crisis or else the entire universe would financially implode?

It seems that must have been the script since there was no sudden crisis that came out of nowhere and that the Bankers were plotting their bailouts at least 6 months in advance:

WikiLeaks cables: Mervyn King plotted banks bailout by four cash-rich nations

Bank of England governor suggested new group of UK, US, Swiss and Japan could facilitate global bailout, cable shows

The Bank of England governor, Mervyn King, was so concerned about the health of the world's banks in March 2008 that he plotted a secret bailout of the system using funds from cash-rich nations, according to a US embassy cable released by WikiLeaks.

Six months before the world financial crisis reached its peak, forcing taxpayers to rescue collapsing financial institutions, King told US officials in London that the UK, US, Switzerland and Japan could jointly enable a multibillion-pound cash injection into global banks, overriding the "dysfunctional" G7 nations.

The leak may allow King to claim that he – rather than Gordon Brown – was one of the brains behind the bailout of the banks, which took place in October 2008.

Just think about that. 6 months in advance the Bush administration's State department was passing around information on co-ordinating the bailouts of these gambling vagrants. And you can be pretty darned sure the Bush Administration knew about this oncoming train wreck long before even this cable given the suspicious timing of what they did to Eliot Spitzer. You don't believe me?

This was only one phase of the bailouts we are talking about in the March cables:

King appeared before the Treasury select committee later in March 2008 and warned MPs that the financial crisis had "moved into a new different phase".

How many phases were before that one? Yeah, I get that there were phases of theft afterwards, some that are still ongoing but... Think about it.

This was a well coordianted theft of our money. Extortion on a world wide scale. And all planned well in advance of the propagandistic "crisis" that was tossed out there to justify it.

We need to get our money back from these shadow bank crime bosses and their other financial industry crimiinals and put them all behind bars.

From Naked Capitalism:

“Crime Shouldn’t Pay”: Tell the State AGs You Want Mortgage Fraud Prosecuted

Tomorrow, a group of homeowners is meeting with Iowa’s attorney general Tom Miller, who is leading the 50-state effort which is investigating foreclosure and mortgage lending abuses.

This group is presenting a letter to Miller asking them to prosecute bank executives for mortgage fraud and wants to show broad-based support for this idea via having concerned citizens sign it.

Here is the text of their letter:

Dear Attorneys General,

We, the undersigned thank you for investigating fraudulent and illegal foreclosure practices by the nation’s biggest banks.

Your investigation is the best hope for homeowners and communities since this crisis began. Americans are watching. Our expectations are high that we will see justice for the millions of families who have lost their homes, the millions more who are at risk of foreclosure, and the neighborhoods across the country devastated by falling housing values and vacant properties as a result of widespread mortgage fraud.

The bank executives who committed fraud should be prosecuted. Any settlement needs to go beyond fixing paperwork, fully addressing ongoing abuse and ending the flood of unnecessary foreclosures.

We demand that any overarching settlement agreement contain mandatory loan modification programs, including principal reduction for owner-occupant families facing foreclosure and remedies for those families who have already lost their homes.

Now is the time for bold leadership from the nation’s Attorney Generals to hold big banks accountable for the damage they have done to families, communities and the nation’s economy.

I have signed this letter and strongly encourage you to do so. Please visit the site, www.crimeshouldntpay.com to support this effort. Thanks!

Comments


"fact" in the title is disputable given the use of the word "theft"? I am sure some money grubbing banker elitist sitting in his mansion with a wallet full of our money might dispute that this was a theft... But hey!

Will the media display short or no attention span for this story.  It's like the changes the Wh made in the NEI transmitted to Congress before the Iraq invasion - so fundamentally important it screams at us.  Find post and it deserves the attention it's getting.  kpete, one of DU's best posters ever, got you some good pub.  Here it is.

"Furthest from him is best, whom reason hath equaled, force hath made supreme above his equals." Milton


I get a kick out of commenters that try to pretend like this "is no big deal" or say that the media were reporting on "Bear Sterns collapse" like that covers scope of what these cables infer. I doubt that this is even the biggest financial gem hidden in all of the cables.

Part of why I cross posted this (and expanded on it including Aron Barlow's recent post on the distraction that a lot of the "wikileaks/Assange" stuff is from real stories hidden in there) to dKos .Forget what so and so said about some other diplomat in another country:

The Big picture here is not even the "ho hum" information coming from the government documents. Anyone with a lick of common sense would expect the US (and other nations) to be acting this way in their "diplomacy efforts". Especially coming out of the notoriously shady Foggy Bottom and their "spy vs spy" mindset. IMHO, everything now, the mega over reaction, is in the hopes of discrediting wikileaks and shutting them down before the leaks on Bank of America and BP (and other bigger things) hit the nets.

The politicians are just feigning the outrage over these revelations because the "new media" (and wikileaks is just a conduit for transferring this info to the new media) ain't so reliably pliable to the interests of the elite as the traditional media has been proved in shutting down important information for the elite's benefit.

I mean, #cablegate is important and an eye opener into the mindset of the political gamesmanship but my rule of thumb in all things political? Follow the money because that is where the real political power (and rage at wikileaks) is.