New York Fed Chairman’s Ties to Goldman Raise Questions
Wall Street Journal (4 May 09)
The Federal Reserve Bank of New York shaped Washington’s response to the financial crisis late last year, which buoyed Goldman Sachs Group Inc. and other Wall Street firms. Goldman received speedy approval to become a bank holding company in September and a $10 billion capital injection soon after.
During that time, the New York Fed’s chairman, Stephen Friedman, sat on Goldman’s board and had a large holding in Goldman stock, which because of Goldman’s new status as a bank holding company was a violation of Federal Reserve policy.
The New York Fed asked for a waiver, which, after about 2 months, the Fed granted. While it was weighing the request, Mr. Friedman bought 37,300 more Goldman shares in December. They’ve since risen $1.7 million in value.
Mr. Friedman also was overseeing the search for a new president of the New York Fed, an officer who has a critical role in setting monetary policy at the Federal Reserve. The choice was a former Goldman executive. [Must subscribe to view full article.]
3rd Quarter 2020 Wrap Up: Visions of Freedom (104 pages) 
Working Successfully with State Leaders Who Will Take Responsibility (20 pages) 
Financial Transaction Freedom (14 pages) 
Why not hire Bernie Madoff to run the US Treasury? It took him a full 20 years to lose $70 Billion. The current group of scheisters lost $700 Billion in a little under 6 months!
Doesn’t directly apply, but the synergy of the passion of youth with the wisdom of age may yet bring about a true transformation.
http://www.youtube.com/watch?v=Nob9k558LVc&feature=related
Here’s an article concerning “Tim” by Nomi Prins.
http://www.motherjones.com/politics/2009/04/unbearable-vagueness-timothy-geithner
I encourage everyone to read it, but don’t miss some of the comments afterwards. Here are a few of them.
“These banking terrorists is holding the nationage hostage after robbing us. These rats broke the bank and nobody knows how to put it back together again but the crooks, so they insist. It is people like this whom makes waterboarding and torture sound far to mild. Now Geithner wants to stimulate the “securitized mortgage loan business.” Shirley you must be joking.”
“That pack of lying dogs is holding the nation hostage. It took them many years to carry out this process and leave taxpayers holding the bag. The Crime of the Century and the wealth of the nation was scimmed of. Next, and was capped with these ongoing bailouts to complete the perfect crime. Or is it? … As it stands, this will continue until they have squeezed out the last drop, using miscellaneous scare tactics and completely supported by mainstream media.”
“They only have and 5 or 6 Trillion to play with before the creditors dry up.
Who exactly are the creditors? What exactly are the terms of the loans that the Fed Govt takes out? What are the terms of payback? Who is supposed to pay them back?
Why doesn’t anyone talk about this? It seems like a reasonable public discussion, but no one covers it. If an individual or family buys a house these are the regular, sensible questions to ask, but why do they not apply to the Fed Govt? … Why is debt considered an asset? This seems to be at the source of the problem, but again, no one mentions it.”
“Then ask yourself who’s paycheck you would rather receive this year? ….. an executive in charge of the billion dollar derivatives loss at AIG?…… or a commercial real estate broker? Need I say more? This entire government bailout charade stinks to high heaven….. and has from day one. Geithner shouldn’t be in charge…. he should be indicted. The only difference between AIG, CitiGroup, Goldman Sachs…. and Bernie Madoff… is the size of the Ponzi. Madoff was a minnow when compared with sharks like Timothy Geithner, Robert Rubin, Larry Summers, Ben Bernanke, and Henry Paulson. These guys are running the largest Ponzi in history”
” As the President of the Federal Reserve Bank of New York (2003-2009), Timothy Geithner had direct responsibility for oversight of Wall Street. After previously being involved in the deregulation of exotic financial instruments and repeal of Glass-Steagall, he oversaw the largest destruction of financial wealth in world history. He, along with Alan Greenspan, Robert Rubin, Larry Summers, Bill Clinton, George Bush, and many others were the architects of this financial apocalypse. However, rather than being served with the indictments they so richly deserve, they are handed the keys to the kingdom. These beelzebub beasts are portrayed as saviors walking on water in lockstep with the media-manufactured messiah”