THE DOT - if this turns orange or red be alert

Monday, June 2, 2008

Another spin to the BSC failure

First let me correct one sentence of my last blog where I turned the correlation in the wording to the less financials are underperforming - actually its the other way round.
A fascinating fact turned out in the hearing of the congress that let to the failure of Bear Staerns the measure which was introduced the Monday after the takeover Bailout by JPM was announced for all Brokers to be able to lend directly from the FED and against all toxic securities was a few days earlier categorically dismissed by chairman Bernanke - that by itself is strange - but if we think back to 1998 the bailout of LTCM where many banks threw money into the rescue package the one which declined to participate was BSC - was that the revenge? The directors of BSC did not act in the interest of the share holders - not before it came to the crisis but also not during the crisis. Since they gave away the company far below fair value even the building is worth the higher price JPM paid not to speak of the primebroker business and the retail-broker salesforce are all values but that was discussed fairly in the media but giving away30% of new stocks in a loophole was a call this board of directors were not the competent one's to make since the same directors are responsible for the failure in the first place. This is a complete misconduct and that the taxpayer has to carry the risk is a pathetic joke anyway. The primebroker will make the 1 Bil JPM will have to pick up anyway within 1-2 years. So the FED which was also responsible for this mess - they turned a loan given up to 1 month directly to BSC into a 3 day facility which triggered the collapse - to happen by not regulating and overseeing the risk in the first place also was responsible for the rescue package. The man in charge Geithner is famous for not being a real hands on guy and was in charge of the operation 'formally'.

Following excerpt from the

In its Constitution, the new nation provided for a monetary system that was to be debt-free and controlled by Congress. This was viewed as an outrage by aristocracies around the world at the time, who believed the human race would disintegrate into helpless chaos without the guidance of those “divinely appointed to rule.” The Rothschilds, a banking family from Germany which showed genius in taking over the money systems of European countries around this time, determined to serve the world’s aristocracy by persuading the USA to create a central bank and issue currency as debt owned the wealth elite who owned this banking operation. Cried the London Times:

If that mischievous financial policy which had its origin in the North American Republic should become indurate down to a fixture, then that government will furnish its own money without cost. It will pay off its debts and be without a debt. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and wealth of all countries will go to North America. That government must be destroyed or it will destroy every monarchy on the globe.

Presidents Andrew Jackson and Abraham Lincoln steadfastly resisted attempts to privatize US money by creating a central bank. Lincoln was assassinated and Jackson would have been had his would-be assassin kept his powder dry in the damp Capitol Building of those times. Astrologically, Jackson’s veto of the central bank bill in his day occurred under an opposition of Saturn and Pluto. Lincoln’s introduction of the Greenback occurred with Saturn and Jupiter conjunct in Virgo (putting both conjunct the US Neptune) opposite transiting Neptune, with Pluto in Taurus making no major aspect.

might give you an idea of the secretive FED which very few people understand in their core operation basis

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