Note that the FED is a private organization owned/controlled surrepitiously by the 300 most wealthy families in the US, who dont pay taxes (family trusts ).

Note that three of the four main regulators were dead set against putting controls on hedge funds since 2000.

Gee…why ?? They controlled HUGE moneys and ran the Market.

Note,then,in 2007 the SEC (crooks ) got rid of the uptick rule in short selling !!!…which then made it easy to drive a stock down. With the rule you could only stop a stock from rising.

Add naked short selling where you just sell stocks without having to borrow stock to do so and you have an unbeatable technique to drive the market down !!!

Madoff, the former head of NASDAQ , even got the SEC to allow naked shorting (wink ) for him (even called it the Madoff Rule).gee,…what if the funds were short in various ways and then sent the stock market down drastically.

What a way to make gigantic PROFITS without impunity

Then there was the shill,Greenspan, who knew EXACTLY, what was going on,when he made that remark,the irrational exuberance of the market. He did what he was told to do !!!

And the Democrats,Pelosi and Frank, telling us over and over that Fannie Mae and Freddie Mac ( who paid them handsomely in lobbhyinfg fees )were just fine,thank you,when they were actually bankrupt. And Paulsen in March of 08 that the economy was doing very well,thank you, when he KNEW the opposite was true.He is NOT that stupid .

And note the incestuous relationships of Wall Street top money men gaining power in the White House. How convenient.

The regulations were in place (except for hedge funds ) but the regulators and the politicians worked together and IGNORED the rules and let the crooks take charge to do their dirty work.

Will we ever find out who really made a killing ??

NO.

Obama just keeps hiring them. The wolves are controlling the hen house!!!!!!!!!!!!

http://www.marketoracle.co.uk/Article14326.html

It isn’t just the insiders, the regulator had to be involved in this according to Mike Stathis. His story then gets into harassment of him for bringing this to the regulator.

The Kremlin, and, with the advent of the SCO, The Forbidden City.

http://www.camaradart.ro/biblioteca/carti/Carroll_Quigley__Tragedy_And_Hope.pdf

When you read it, so much makes sense and falls into place. Written in 1966, it predicted much of what’s happened to our clearance system.

This book should be standard reading in every high school.

http://www.thedailyshow.com/

The actual interview was done on March 12th 2009 and is the most telling interview that I have ever seen that will expose the Financial Media for what is really is.. A FRAUD!!!

The show will be re-broadcast several times tomorrow, and the interview is available online… watch it! you’ll be glad you did.

http://news.yahoo.com/s/realclearpolitics/20090312/cm_rcp/profit_patriotism_and_bear_rai

Get your tea bag ready to be mailed, on April 1, 2009 to the address shown below.

Subject: Tea Party

There’s a storm abrewin’. What happens when good, responsible people keep quiet? Washington has forgotten they work for us. We don’t work for them. Throwing good money after bad is NOT the answer. I am sick of the midnight, closed door sessions to come up with a plan. I am sick of Congress raking CEO’s over the coals while they, themselves, have defaulted on their taxes. I am sick of the bailed out companies having lavish vacations and retreats on my dollar.. I am sick of being told it is MY responsibility to rescue people that, knowingly, bought more house than they could afford. I am sick of being made to feel it is my patriotic duty to pay MORE taxes. I, like all of you, am a responsible citizen. I pay my taxes. I live on a budget and I don’t ask someone else to carry the burden for poor decisions I may make. I have emailed my congressmen and senators asking them to NOT vote for the stimulus package as it was written without reading it first. No one listened. They voted for it, pork and all.

O.K. folks, here it is. You may think you are just one voice and what you think won’t make a difference. Well, yes it will and YES, WE CAN!! If you are disgusted and angry with the way Washington is handling our taxes. If you are fearful of the fallout from the reckless spending of BILLIONS to bailout and “stimulate” without accountability and responsibility then we need to become ONE, LOUD VOICE THAT CAN BE HEARD FROM EVERY CITY, TOWN, SUBURB AND HOME IN AMERICA. There is a growing protest to demand that Congress, the President and his cabinet LISTEN to us, the American Citizens. What is being done in Washington is NOT the way to handle the economic free fall.

So, here’s the plan. On April 1, 2009, all Americans are asked to send a TEABAG to Washington , D.C. You do not have to enclose a note or any other information unless you so desire. Just a TEABAG. Many cities are organizing protests. If you simply search, “New American Tea Party”, several sites will come up. If you aren’t the ‘protester’ type, simply make your one voice heard with a TEABAG. Your one voice will become a roar when joined with millions of others that feel the same way. Yes, something needs to be done but the lack of confidence as shown by the steady decline in the stock market speaks volumes.

This was not my idea. I visited the sites of the ‘New American Tea Party and an online survey showed over 90% of thousands said they would send the teabag on April 1. Why, April 1? We want them to reach Washington by April 15. do it? I will. Send it to; 1600 Pennsylvania Ave. Washington , D.C. 20500 .

Forward this to everyone in your address book. Visit the website below for more information about the ‘New American Tea Party’. I would encourage everyone to go ahead and get the envelope ready to mail, then just drop it in the mail April 1. Can’t guarantee what the postage will be by then, it is going up as we speak, but have your envelope ready. What will this cost you? A little time and a 40 something cent stamp.

What could you receive in benefits? Maybe, just maybe, our elected officials will start to listen to the people. Take out the Pork. Tell us how the money is being spent. We want TRANSPARENCY AND ACCOUNTABILITY. Remember, the money will be spent over the next 4-5 years. It is not too late.

http://www.camaradart.ro/biblioteca/carti/Carroll_Quigley__Tragedy_And_Hope.pdf

Hundreds of years ago, bankers began to specialize, with the richer and more
influential ones associated increasingly with foreign trade and foreign-exchange
transactions. Since these were richer and more cosmopolitan and increasingly concerned
with questions of political significance, such as stability and debasement of currencies,
war and peace, dynastic marriages, and worldwide trading monopolies, they became the
financiers and financial advisers of governments. Moreover, since their relationships with
governments were always in monetary terms and not real terms, and since they were
always obsessed with the stability of monetary exchanges between one country’s money
and another, they used their power and influence to do two things: (1) to get all money
and debts expressed in terms of a strictly limited commodity—ultimately gold; and (2) to
get all monetary matters out of the control of governments and political authority, on the
ground that they would be handled better by private banking interests in terms of such a
stable value as gold.

http://www.camaradart.ro/biblioteca/carti/Carroll_Quigley__Tragedy_And_Hope.pdf

“…[T]he powers of financial capitalism had another far-reaching aim, nothing less
than to create a world system of financial control in private hands able to dominate the
political system of each country and the economy of the world as a whole. this system
was to be controlled in a feudalist fashion by the central banks of the world acting in
concert by secret agreements arrived at in frequent private meetings and conferences. The
apex of the system was to be the Bank for International Settlements in Basle,
Switzerland, a private bank owned and controlled by the world’s central banks which
were themselves private corporations….

Feds might offer bounties for market miscreants

David R. Sands (Contact)
http://washingtontimes.com/news/2009/mar/12/sec-considers-cash-bounties-to-whistleblowers/

The nation’s top market cop is looking for a few good snitches. Securities and Exchange Commission Chairman Mary L. Schapiro told a congressional panel Wednesday that her agency is considering offering cash bounties for the first time to private-sector whistleblowers who help expose financial wrongdoing.

The plan was revealed as disgraced financier Bernard Madoff was preparing to plead guilty to 11 felony counts in a New York courtroom Thursday in connection with a massive Ponzi scheme that went undetected by the SEC and other regulators for more than a decade. Prosecutors this week raised their estimate of the size of the fraud to more than $64 billion.

Mrs. Schapiro told a House Appropriations subcommittee that she is considering asking for the power to offer rewards to whistleblowers in securities fraud cases similar to the bounties given to those who reveal insider-trading violations.

“Right now, the main reward for being a whistleblower is the good feeling you get of having done something important, because we don’t have the authority to pay,” she said, noting that the Internal Revenue Service and other federal agencies already have well-defined reward programs.

“Whistleblowers tend to do a lot of the work for you, hand you something that’s pretty fully baked,” Mrs. Schapiro said. “It would enable us to run with that kind of information and pursue cases in a much more aggressive way.”

Noting that the SEC has about 400 investigators to monitor more than 11,000 investment advisers like Mr. Madoff, she said, “We have to leverage third parties to do our job.”

Mrs. Schapiro, who was confirmed in January, agreed with lawmakers that the SEC’s reputation had taken a major hit because of the Madoff case. Congressional anger boiled over last month when it was revealed that Boston investor Harry Markopolos had supplied SEC officials with a detailed analysis of Mr. Madoff’s fraudulent empire in 2005 but the agency failed to act.

The agency’s top enforcement officer resigned in the wake of those revelations, and the SEC inspector general began an internal investigation into how the Madoff fraud went undetected for so long. Mrs. Schapiro also confirmed reports that the SEC is weighing changes to two rules that critics say have accelerated the global stock market decline and exacerbated losses and capital problems at the nation’s banks.

She said she hopes the agency will put out for public comment within a month a plan to reinstate the so-called “uptick rule,” which forces short-sellers in the market to wait until a stock moves up in price before selling it. Many say concentrated moves by short-sellers – who profit when share prices fall – have pushed down equity market values around the world.

Mrs. Schapiro also said she was in favor of “more judgment in the application” of accounting rules requiring banks to mark their assets to their true market values. House Financial Services Committee Chairman Barney Frank, Massachusetts Democrat, and others say the rigid use of “mark-to-market” rules have forced banks to write off entirely or sell at fire-sale prices troubled assets that they had planned to hold for the long term.

But the SEC chief said she would oppose eliminating the rule altogether.

“Investors have told us that fair value is important to them because it gives them transparency and a real insight into the financial statements. And that’s information they need to make decisions about how to allocate capital,” she said.

Democrats and Republicans on the House panel sparred at times over whether budget and personnel cuts in the later years of the Bush administration had weakened the SEC’s enforcement powers.

“I have to say that the last administration at the SEC was the only agency I ever ran into that we would sit here and say, ‘How much do you need?’ and they’d say, ‘We have enough,’ ” said subcommittee Chairman Jose E. Serrano, New York Democrat.

Mrs. Schapiro said the agency lost 10 percent of its staff between 2005 and 2007 and that it “inevitably affected all of the SEC’s major programs.”

She told lawmakers that she would seek authority to tap a $17 million fund not used by the agency to bolster current operations, and President Obama’s fiscal 2010 budget calls for a 9 percent increase in the agency’s budget to $1.03 billion.

But Mrs. Schapiro agreed with Republicans on the panel that the agency did not need new rules to police the market as much as it needed more personnel to administer the existing rules.

“What I think we really need are boots on the ground,” she said. She also expressed opposition to any plan to fold the SEC into a new “super-regulator” that the Obama administration, the Federal Reserve and lawmakers are now considering to deal with firms that pose a “systemic risk” to the U.S. financial marketplace.

“My concern about a single monolithic regulator is that we need an entity with ultimate responsibility for the protection of the financial system,” she said. “A systemic regulator will always trump an investor protection regulator’s concerns, I fear, and I don’t think that would be good in our market.”

The Ivy leaguers are the BEST at following orders. They’re far less free thinking then the high school drop out that’s worked his way through! I’ve had plenty work with and for me.

What you have to realize about the 95-99.9%ers is that so much of what they do becomes so compartmentalized within their particular orginization, that they never were able to put the dots together.

If it weren’t for the internet / blogs… they would’ve never known! …bvecause the media wasn’t planning on doing their diligent work, or were schills! It’s people like Mr Byrnes that forced their hands.

I say congrats to him and the like. BEAT THE DRUMS!!!

but the 95-99.9ers… I don’t know how I feel. They have wound up victims too. (they just didn’t know their part)

Rich H / Miss America

You think this is a person who didn’t know? Look at what connections get you.

CA Congresswoman Tied to Bank That Received Bailout Funds
By Avi Klein on March 12, 2009 1:58 PM | No Comments | No TrackBacks
U.S. Rep. Maxine Waters has long-standing ties to a Boston-based bank that received millions of dollars in bailout funding, The Wall Street Journal reported today.

According to the report, the California congresswoman and her husband, Sydney Williams, were investors in two California banks that merged in 2002 to become OneUnited Bank.

OneUnited received $12 million from the Treasury Department’s Troubled Asset Relief Program (TARP) in December.

Waters sold her shares in 2004. But according to her most recent financial-disclosure form, dated May 2008, Williams still owned shares whose value was somewhere between $250,000 to $500,000. Williams also served on the bank’s board of directors until last year, and got “interest payments from a separate holding at the bank, also worth between $250,000 and $500,000,” the Journal reported.

Waters’ connection to the bank is important because she is a member of the House Financial Services Committee and has spoken out repeatedly in defense of OneUnited and its executives.

At the height of the banking crisis in September, she made calls to the Treasury Department on OneUnited’s behalf to express her displeasure at the department’s decision to put Freddie Mac and Fannie Mae under federal receivership. OneUnited had significant investments in the two companies, and their collapsed share prices wiped out much of the bank’s capital, leaving it below the level typically needed to qualify for TARP aid.

In addition, The New York Times reported today that Waters also arranged a meeting between OneUnited executives and federal regulators. During the meeting, the company’s CEO “seized the opportunity to plead for special assistance for his bank.”

“Here you had a tiny community bank that comes in and they are not proposing a broader policy — they were asking for help for themselves,” said Steve Lineberry, a former Treasury aide who attended the meeting. “I don’t remember that ever happening before.”

According to Treasury officials at the meeting, Waters did not tell them about her ties to the bank beforehand.

Soon afterward, House Financial Services Committee Chairman Barney Frank inserted language into a TARP bill that was specifically worded to permit bailout funding of OneUnited.

OneUnited has a mixed regulatory history. The Journal reported that the bank received an “outstanding” Community Reinvestment Act rating for its lending efforts in Los Angeles, but “has weak ratings in Massachusetts and failed to meet minimum standards in Florida.”

In October, federal regulators told OneUnited to raise fresh capital, name an independent board, and cease paying for such executives perks as a $6.4 million Southern California beachside house used by its chairman.

I agree 100% with your assertion that 95-99.9% of the foot soldiers are just following orders. That’s true both amongst the abusive market makers pulling the trigger on ANSS trades and the SEC staff.

I’ve interviewed many retired market makers from the bigger market making firms. They don’t know exactly why but they readily admit that for some reason or another they never have to deliver that which they sell. They all admit to making a truckload of money and that it’s better to just follow orders,never “rock the boat” and don’t ask too many questions.

A lot of the SEC staff have the same mantra i.e. just don’t rock the boat or mess with the status quo. They’re not typically making the big bucks yet but they know that if they don’t rock the boat they’ll have their chance to go through that “revolving door” at the SEC to a job on Wall Street that pays 10 times as well.

Their main asset that they carry through that “revolving door” is not their brain as they’d like to think but their connections that remain at the SEC that can be called upon should their new boss get into a regulatory bind.

…but I think a great deal of what escalated the severity of where we are now had to do with a large percentage of the industry just following the trend. (unknowing the extent)

For example, a bright kid lands a wall st job after his ivy leugue boot camp. He then learns his companies trading strategy and is on a desk given a certain allocation. Much like a foot soldier being led by your chief, you follow those rules, and try to be the best at it. More often then not though… that foot soldier doesn’t know what the chief knows. That foot soldier is just following orders.

At most of the financial companies that have been willingly or unwillingly part of this, .01% to 5% of the people that work there are chiefs.

The 95-99.9% are just foot soldiers that were either just following orders or oblivious.

It’s the 95-99.9% that I don’t know how to feel about.

Rich H / Miss America