What a gutsy, courageous lady. It’s obvious why she chose this time to reincarnate. Thank you, Karen!
In the event you didn’t see this on any of the many other sites where it appeared…
The End Game Memo
By Greg Palast
When a little birdie dropped the End Game memo through my window, its content was so explosive, so sick and plain evil, I just couldn’t believe it.
The Memo confirmed every conspiracy freak’s fantasy: that in the late 1990s, the top US Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet. When you see 26.3 percent unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears.
The Treasury official playing the bankers’ secret End Game was Larry Summers. Today, Summers is Barack Obama’s leading choice for Chairman of the US Federal Reserve, the world’s central bank. If the confidential memo is authentic, then Summers shouldn’t be serving on the Fed, he should be serving hard time in some dungeon reserved for the criminally insane of the finance world.
The memo is authentic.
I had to fly to Geneva to get confirmation and wangle a meeting with the Secretary General of the World Trade Organisation, Pascal Lamy. Lamy, the Generalissimo of Globalisation, told me,
“The WTO was not created as some dark cabal of multinationals secretly cooking plots against the people… We don’t have cigar-smoking, rich, crazy bankers negotiating.”
Then I showed him the memo.
It begins with Larry Summers’ flunky, Timothy Geithner, reminding his boss to call the Bank bigshots to order their lobbyist armies to march:
“As we enter the end-game of the WTO financial services negotiations, I believe it would be a good idea for you to touch base with the CEOs…”
To avoid Summers having to call his office to get the phone numbers (which, under US law, would have to appear on public logs), Geithner listed the private lines of what were then the five most powerful CEOs on the planet. And here they are:
- Goldman Sachs: John Corzine (212) 902-8281
- Merrill Lynch: David Kamanski (212) 449-6868
- Bank of America: David Coulter (415) 622-2255
- Citibank: John Reed (212) 559-2732
- Chase Manhattan: Walter Shipley (212) 270-1380
Lamy was right: They don’t smoke cigars. Go ahead and dial them. I did, and sure enough, got a cheery personal hello from Reed – cheery until I revealed I wasn’t Larry Summers. (Note: The other numbers were swiftly disconnected. And Corzine can’t be reached while he faces criminal charges.)
It’s not the little cabal of confabs held by Summers and the banksters that’s so troubling. The horror is in the purpose of the “end game” itself.
Let me explain:
The year was 1997. US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks. That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial banks and investment banks. It was like replacing bank vaults with roulette wheels.
Second, the banks wanted the right to play a new high-risk game: “derivatives trading”. JP Morgan alone would soon carry $88 trillion of these pseudo-securities on its books as “assets”.
Deputy Treasury Secretary Summers (soon to replace Rubin as Secretary) body-blocked any attempt to control derivatives.
But what was the use of turning US banks into derivatives casinos if money would flee to nations with safer banking laws?
The answer conceived by the Big Bank Five: eliminate controls on banks in every nation on the planet — in one single move. It was as brilliant as it was insanely dangerous.
How could they pull off this mad caper? The bankers’ and Summers’ game was to use the Financial Services Agreement (or FSA), an abstruse and benign addendum to the international trade agreements policed by the World Trade Organisation.
Until the bankers began their play, the WTO agreements dealt simply with trade in goods – that is, my cars for your bananas. The new rules devised by Summers and the banks would force all nations to accept trade in “bads” – toxic assets like financial derivatives.
Until the bankers’ re-draft of the FSA, each nation controlled and chartered the banks within their own borders. The new rules of the game would force every nation to open their markets to Citibank, JP Morgan and their derivatives “products”.
And all 156 nations in the WTO would have to smash down their own Glass-Steagall divisions between commercial savings banks and the investment banks that gamble with derivatives.
The job of turning the FSA into the bankers’ battering ram was given to Geithner, who was named Ambassador to the World Trade Organisation.
Bankers Go Bananas
Why in the world would any nation agree to let its banking system be boarded and seized by financial pirates like JP Morgan?
The answer, in the case of Ecuador, was bananas. Ecuador was truly a banana republic. The yellow fruit was that nation’s life-and-death source of hard currency. If it refused to sign the new FSA, Ecuador could feed its bananas to the monkeys and go back into bankruptcy. Ecuador signed.
And so on – with every single nation bullied into signing.
Every nation but one, I should say. Brazil’s new President, Inacio Lula da Silva, refused. In retaliation, Brazil was threatened with a virtual embargo of its products by the European Union’s Trade Commissioner, one Peter Mandelson, according to another confidential memo I got my hands on. But Lula’s refusenik stance paid off for Brazil which, alone among Western nations, survived and thrived during the 2007-9 bank crisis.
China signed – but got its pound of flesh in return. It opened its banking sector a crack in return for access and control of the US auto parts and other markets. (Swiftly, two million US jobs shifted to China.)
The new FSA pulled the lid off the Pandora’s box of worldwide derivatives trade. Among the notorious transactions legalised: Goldman Sachs (where Treasury Secretary Rubin had been co-chairman) worked a secret euro-derivatives swap with Greece which, ultimately, destroyed that nation. Ecuador, its own banking sector de-regulated and demolished, exploded into riots. Argentina had to sell off its oil companies (to the Spanish) and water systems (to Enron) while its teachers hunted for food in garbage cans. Then, Bankers Gone Wild in the Eurozone dove head-first into derivatives pools without knowing how to swim – and the continent is now being sold off in tiny, cheap pieces to Germany.
Of course, it was not just threats that sold the FSA, but temptation as well. After all, every evil starts with one bite of an apple offered by a snake. The apple: the gleaming piles of lucre hidden in the FSA for local elites. The snake was named Larry.
Does all this evil and pain flow from a single memo? Of course not: the evil was The Game itself, as played by the banker clique. The memo only revealed their game-plan for checkmate.
And the memo reveals a lot about Summers and Obama.
While billions of sorry souls are still hurting from worldwide banker-made disaster, Rubin and Summers didn’t do too badly. Rubin’s deregulation of banks had permitted the creation of a financial monstrosity called “Citigroup”. Within weeks of leaving office, Rubin was named director, then Chairman of Citigroup – which went bankrupt while managing to pay Rubin a total of $126 million.
Then Rubin took on another post: as key campaign benefactor to a young State Senator, Barack Obama. Only days after his election as President, Obama, at Rubin’s insistence, gave Summers the odd post of US “Economics Tsar” and made Geithner his Tsarina (that is, Secretary of Treasury). In 2010, Summers gave up his royalist robes to return to “consulting” for Citibank and other creatures of bank deregulation whose payments have raised Summers’ net worth by $31 million since the “end-game” memo.
That Obama would, at Robert Rubin’s demand, now choose Summers to run the Federal Reserve Board means that, unfortunately, we are far from the end of the game.
Special thanks to expert Mary Bottari of Bankster USA without whom our investigation could not have begun.
The film of my meeting with WTO chief Lamy was originally created for Ring of Fire, hosted by Mike Papantonio and Robert F. Kennedy Jr.
Further discussion of the documents I laid before Lamy can be found in “The Generalissimo of Globalization,” Chapter 12 of Vultures’ Picnic by Greg Palast (Constable Robinson 2012).
Follow Greg on Twitter: @Greg_Palast
Thanks to Idaho Picker! (Logic Before Authority channel) Woo-hoo! What goes around comes around, and he says in the coming weeks there will be many more.
Now is not a good time to be a banker. We saw a rash of jumpers last summer and I wouldn’t be surprised to see another slew of those as I doubt if they’ll like the alternative.
Uploaded Aug 22, 2013 (the video Idaho Picker mentions in the video above)
Parading them in handcuffs through The Hague? I love it! And did you notice at the 5:20 mark Tony Robinson says, “It’s almost like they’re not human”?
Thanks to Extraterrestrials.ning.com for sharing. One of our neighbours was a victim of this scam. The bank refused to let them re-fi, so they had to move. On the day the moving truck was to arrive, the bank told them they had decided to work with them, but they had already found new schools for the kids and were moving into a rental home.
Bombshell: Bank of America whistle-blowers detail horrid schemes to fleece borrowers, reward foreclosures (UPDATED)
Bank of America’s mortgage servicing unit systematically lied to homeowners, fraudulently denied loan modifications, and paid their staff bonuses for deliberately pushing people into foreclosure: Yes, these allegations were suspected by any homeowner who ever had to deal with the bank to try to get a loan modification – but now they come from six former employees and one contractor, whose sworn statements were added last week to a civil lawsuit filed in federal court in Massachusetts.
“Bank of America’s practice is to string homeowners along with no apparent intention of providing the permanent loan modifications it promises,” said Erika Brown, one of the former employees. The damning evidence would spur a series of criminal investigations of BofA executives, if we still had a rule of law in this country for Wall Street banks.
The government’s Home Affordable Modification Program (HAMP), which gave banks cash incentives to modify loans under certain standards, was supposed to streamline the process and help up to 4 million struggling homeowners (to date, active permanent modifications number about 870,000). In reality, Bank of America used it as a tool, say these former employees, to squeeze as much money as possible out of struggling borrowers before eventually foreclosing on them. Borrowers were supposed to make three trial payments before the loan modification became permanent; in actuality, many borrowers would make payments for a year or more, only to find themselves rejected for a permanent modification, and then owing the difference between the trial modification and their original payment. Former Treasury Secretary Timothy Geithner famously described HAMP as a means to “foam the runway” for the banks, spreading out foreclosures so banks could more readily absorb them.
These Bank of America employees offer the first glimpse into how they pulled it off. Employees, many of whom allege they were given no basic training on how to even use HAMP, were instructed to tell borrowers that documents were incomplete or missing when they were not, or that the file was “under review” when it hadn’t been accessed in months. Former loan-level representative Simone Gordon says flat-out in her affidavit that “we were told to lie to customers” about the receipt of documents and trial payments. She added that the bank would hold financial documents borrowers submitted for review for at least 30 days. “Once thirty days passed, Bank of America would consider many of these documents to be ‘stale’ and the homeowner would have to re-apply for a modification,” Gordon writes. Theresa Terrelonge, another ex-employee, said that the company would consistently tell homeowners to resubmit information, restarting the clock on the HAMP process.
Worse than this, Bank of America would simply throw out documents on a consistent basis. Former case management supervisor William Wilson alleged that, during bimonthly sessions called the “blitz,” case managers and underwriters would simply deny any file with financial documents that were more than 60 days old. “During a blitz, a single team would decline between 600 and 1,500 modification files at a time,” Wilson wrote. “I personally reviewed hundreds of files in which the computer systems showed that the homeowner had fulfilled a Trial Period Plan and was entitled to a permanent loan modification, but was nevertheless declined for a permanent modification during a blitz.” Employees were then instructed to make up a reason for the denial to submit to the Treasury Department, which monitored the program. Others say that bank employees falsified records in the computer system and removed documents from homeowner files to make it look like the borrower did not qualify for a permanent modification.
Senior managers provided carrots and sticks for employees to lie to customers and push them into foreclosure. Simone Gordon described meetings where managers created quotas for lower-level employees, and a bonus system for reaching those quotas. Employees “who placed ten or more accounts into foreclosure in a given month received a $500 bonus,” Gordon wrote. “Bank of America also gave employees gift cards to retail stores like Target or Bed Bath and Beyond as rewards for placing accounts into foreclosure.” Employees were closely monitored, and those who didn’t meet quotas, or who dared to give borrowers accurate information, were fired, as was anyone who “questioned the ethics … of declining loan modifications for false and fraudulent reasons,” according to William Wilson.
Bank of America characterized the affidavits as “rife with factual inaccuracies.” But they match complaints from borrowers having to resubmit documents multiple times, and getting denied for permanent modifications despite making all trial payments. And these statements come from all over the country from ex-employees without a relationship to one another. It did not result from one “rogue” bank branch.
Simply put, Bank of America didn’t want to hire enough staff to handle the crush of loan modification requests, and used these delaying tactics as a shortcut. They also pushed people into foreclosure to collect additional fees from them. And after rejecting borrowers for HAMP modifications, they would offer an in-house modification with a higher interest rate. This was all about profit maximization. “We were regularly drilled that it was our job to maximize fees for the Bank by fostering and extending delay of the HAMP modification process by any means we could,” wrote Simone Gordon in her affidavit.
It is a testament to the corruption of the federal regulatory and law enforcement apparatus that we’re only hearing evidence from inside Bank of America now, in a civil class-action lawsuit from wronged homeowners, when the behavior was so rampant for years. For example, the Treasury Department, charged with specific oversight for HAMP, didn’t sanction a single bank for failing to follow program guidelines for three years, and certainly did not uncover any of this criminal conduct. Steven Cupples, a former underwriter at Bank of America, explained in his statement how the bank falsified records to Treasury to make it look like they granted more modifications. But Treasury never investigated. Meanwhile, the Justice Department joined with state Attorneys General and other federal regulators to essentially bless this conduct in a series of weak settlements that incorporated other bank crimes as well, like “robo-signing” and submitting false documents to courts.
These affidavits, however, should return law enforcement to the case. William Wilson, the case management supervisor, alleges in his statement that this “ridiculous and immoral” conduct continued through August of 2012, when he was eventually fired for speaking up. That means Bank of America persisted with these activities for at least six months AFTER the main, $25 billion settlement to which they were a party. So state and federal regulators could sue Bank of America over this new criminal conduct, which post-dates the actions for which they released liability under the main settlement. Attorneys general in New York and Florida have accused Bank of America of violating the terms of the settlement, but they could simply open new cases about these new deceptive practices.
They would have no shortage of evidence, in addition to the sworn affidavits. According to Theresa Terrelonge, most loan-level representatives conducted their business through email; in fact, various email communications have already been submitted under seal in the Massachusetts civil case. State Attorneys General or US Attorneys would have subpoena power to gather many more emails.
And they would have very specific targets: the ex-employees listed specific executives by name who authorized and directed the fraudulent process. “The delay and rejection programs were methodically carried out under the overall direction of Patrick Kerry, a Vice President who oversaw the entire eastern region’s loan modification process,” wrote William Wilson. Other executives mentioned by name include John Berens, Patricia Feltch and Rebecca Mairone (now at JPMorgan Chase, and already named in a separate financial fraud case). These are senior executives who, if this alleged conduct is true, should face criminal liability.
Bank accountability activists have already seized on the revelations. “This is not surprising, but absolutely sickening,” said Peggy Mears, organizer for the Home Defenders League. “Maybe finally our courts and elected officials will stand with communities over Wall Street and prosecute, and then lock up, these criminals.”
Sadly, it’s hard to raise hopes of that happening. Past experience shows that our top regulatory and law enforcement officials are primarily interested in covering for Wall Street’s crimes. These well-sourced allegations amount to an accusation of Bank of America stealing thousands of homes, and lying to the government about it. Homeowners who did everything asked of them were nevertheless pushed into foreclosure, all to fortify profits on Wall Street. There’s a clear path to punish Bank of America for this conduct. If it doesn’t result in prosecutions, it will once again confirm the sorry excuse for justice we have in America.
Update: Read the full affidavits from the active court case here.
Drake shared this, and it’s VERY lengthy, so please read the remainder at the American National Militia web site. (link at bottom)
‘OPERATION STILLPOINT’ TO DESTROY AMERICA STOPPED
[Please note the bottom note re: Chris Story]
Please take time to read the following article. If it can be verified then there are some BIG changes coming very soon!!
We are now in a position to tear part of the veil away from the secret stage on which saboteurs operating from WITHIN US Government structures have been systematically, over a prolonged period of years, seeking to do nothing less than seize the assets of the entire United States and its people, in a mad revolutionary offensive to convert the country into a fiefdom controlled by a small clique of arrogant maniacs.
This will require patience on the part of the reader, as historical references will be necessary in order to bring this scandalous state of affairs to life, and to expose what has been going on.
The last time an attempt was made by the Fifth Column buried inside the Intelligence Power and scattered around other structures was in 1984, with the previous Dollar Refunding Operation.
A FIVE-PHASE, LONG-RANGE SUBVERSION OPERATION In essence and in outline, the secret offensive against the United States and its people directed from within by subversives headed by George Bush Sr. and his controller-handler, Dr Henry ‘Heinz’ Kissinger, and micromanaged by Bush Sr.’s criminal financier Dr. Alan Greenspan, with embedded participation of Leo/Lee Wanta, involved the following intended stages:
* Stage 1: Developing myriad Ponzi schemes and giga-thefts, of infinite variety, and BY ANY MEANS, in order to procure ‘base money’ for open-ended unreported, off-balance sheet, untaxed leveraging and hypothecation operations.
* Stage 2: Maximising the potential for the accumulation of trillions of fiat dollars by means of such financial sorcery, both for personal self-enrichment purposes and in order to accumulate a colossal fund of fiat ‘money’ from Fraudulent Finance operations, ready for Stage 3.
* Stage 3: Deliberately inducing the collapse of the US financial system and economy to facilitate Stage 4:
* Stage 4: Mobilising the colossal accumulated portfolio of Fraudulent Funds, stashed offshore and untaxed, with a view to buying up collapsed US assets across the board, so that the entire economy wound up in the hands of the controlling saboteurs.
* Stage 5: The ELIMINATION of commercial banking and its replacement by the US Treasury’s Direct Account.
The codename for this operation, directed from within the deeply compromised and penetrated US Government structures, was, and remains to this day, OPERATION STILLPOINT.
This offensive against the United States directed from WITHIN the US official structures, despite setbacks, including the recovery (for which we were partly responsible) of the British Monarchical Power’s gold diverted with inside connivance at the Bank of England on 29th-30th March 2007, was STILL on course for completion but was knocked decisively off-course following the ‘lockdown’ of the $14.0+ trillion of sovereign funds, including the $6.2 trillion of funding provided on LOAN for the G-7-approved on-balance sheet Dollar Refunding Programme on 10th-12th September 2008. These funds were simply regarded by the criminal Paulson Treasury as candidates for diversion and exploitation, rather than for application for the purposes intended by the owners of the funds.
OPERATION STILLPOINT NEUTRALISED BY EVENTS IN DECEMBER 2009 OPERATION STILLPOINT was finally DEFEATED with the confirmation, application and decisive consequences of the sovereign lenders’ Writ of Execution, followed by imposition of the massive Lien against the US Treasury for $47 trillion which the defrauded parties, the Chinese authorities and the British Monarchical Power, had to execute on or about 6th December 2009.
However, notwithstanding that OPERATION STILLPOINT has been destabilised, degraded, collapsed and is in the process of being dismantled – and the Republic therefore prospectively rescued at the last moment from what was intended by its sworn enemies – certain operatives, including Leon Panetta, Timothy Geithner, Mrs Hillary Clinton, former Vice President Richard B. Cheney and, at the bottom of the pile of snakes, Wanta, have had a problem getting used to the NEW PARADIGM, whereby the subversives engaged in the systematic sabotage of the ongoing US financial restitution operations (in order to ‘rescue’ OPERATION STILLPOINT), have now been placed not only firmly on the defensive, but in a bind from which they cannot extricate themselves (even though their arrogance remains such that they imagine that they can).
OPERATION STILLPOINT, re-invoked in sterile fashion by Wanta in November 2007 to trigger the domino effect, was put together by the traitors George Bush Sr. and Dr Alan Greenspan. When the exposures and the September 2008 ‘lockdown’ stymied the Paulson Treasury, strenuous efforts were made to saddle (intended) President Obama with a team of colleague-snakes who could be relied upon to revive, perpetuate and conclude OPERATION STILLPOINT beyond Stage 2. This team of traitors is now under intense pressure, as indeed are ALL personnel within and beyond the US official structures who have participated in these unending criminal operations, serving the interests of enemy foreign powers, to bring the United States and its people to their knees
CRUCIAL MEASURES TO BACK UP THE $47 TRILLION LIEN ON THE TREASURY As indicated, patience on the part of the reader is necessary because we first have to address the present situation, which is explosive and historically unprecedented. Specifically:
* INTERPOL’S DIPLOMATIC IMMUNITY AND HABEAS CORPUS: For the purposes of surmounting this crisis, and FOR NO OTHER PURPOSE, contrary to the ignorant knee-jerk chatter on many websites, President Barack Obama promulgated Executive Order 13524 on 16th December 2009, which amended Executive Order 12425 dated 16th June 1983 (amended by the Executive Order 12971 dated 15th September 1995) so as ‘to extend the appropriate privileges, exemptions, and immunities of the International Criminal Police Organization (INTERPOL)’.
* The effect of President Obama’s Executive Order of 16th December 2009 is to grant INTERPOL full immunity from search and arrest or seizure of all INTERPOL properties including the agency’s own personnel, thereby providing INTERPOL with de facto diplomatic immunity.
This is a truly historic development, because it means that for the purposes of resolving this crisis HABEAS CORPUS IS SUSPENDED. The last time this happened was under President Lincoln.
The roller coaster is on the move…
“The laundering of trillions of dollars of U.S. taxpayer money — and the wrongful taking of the homes of those taxpayers — was known by the Administration and expressly supported by it. Evidence uncovered by the plaintiffs revealed that the Administration ignored its own agencies’ reports — and reports from the Department of Homeland Security — about this situation, dating as far back as 2010,” Wittenberg said.
“Worse, the Administration purported to endorse a ‘national bank settlement’ without disclosing or having any public discourse whatsoever about the thousands of foreign tax havens now wholly owned by our nation’s banks.
LORD JAMES OF BLACKHEATH Uncovers Money Laundering Scheme By The Federal Reserve Bank In The United states!
IN one of the strangest stories in financial history, one involving the US government lying about hundreds of thousands of tons of imaginary gold, illegal wire transfers and loans totalling $15 trillion (50 Trillion Total).
The Video, From The House Of Lords, is amazing in itself. (see below)
On February 16, 2012, Lord James of Blackheath, member of Britain’s House of Lords presented evidence of an illegal scheme begun, he has thus discovered, in 2009. His documents including originals signed by Alan Greenspan and Timothy Geithner, show the illegal “off the books” transfer by the Federal Reserve Bank of New York of $15 trillion to, initially, HSBC (Hong Kong Shanghai Banking Corporation) London and then to the Bank of Scotland.
At surface, it appears we have stumbled upon the largest terrorist organization in the world and have found original documents tracing its funding to the Secretary of the Treasury and the Chairman of the Federal Reserve, two of the top financial officers in the US. A cursory review of terrorism statues in the US indicate that all transactions we will learn about are, in fact, to be assumed “terrorist money laundering” and that the only thing preventing the immediate arrest of hundreds of top financial officials is their political connections alone.
As Blackheath outlines, the “deception and cover” for this transfer is the imaginary seizure of 750,000 tons of gold by agents of an unspoken entity (confirmed by the highest official sources as the Bush family and CIA), the listed “source” of the money.
The Bank of Scotland, under royal charter but restricted from involvement in any such transactions, simply “gave” the money to 20 European banks to use in a highly profitable scheme of co-trading “fresh cut” MTN’s (mid-term notes), generating trillions of dollars in profits over 3 years, none of which is shown on books, none has been taxed or has benefitted shareholders in those banks.
A new lawsuit, which is bordering on the unbelievable, implicates the Obama administration and some of the world’s largest banks in the largest international money laundering case in history!
This global money laundering network was allegedly formed during the Obama administration and helped banks rob U.S. home owners through offshore affiliates in infamous tax havens and money laundering hubs like the Cayman Island, Isle of Man, Luxembourg and Malaysia.
The money was then laundered through offshore corporations, and surprisingly the suit is quite explicit in identifying specific companies as well as the countries they are located in which were used to help defraud huge sums of money from Americans.
These activities are violations of the guidelines of the Federal Deposit Insurance Corporation (FDIC), New York state law, not to mention other states as well as federal law.
A press release published by Marketwatch (a website owned by the Wall Street Journal) via Marketwire on April 23, 2012, by America’s Spire Law Group, revealed that a mass tort action on behalf of home owners across the United States has been filed in the Supreme Court of New York, County of Kings.
The release states that the suit implicates every major bank servicer and their subsidiaries, as well as the Obama administration which allegedly was privately ratifying the formation of shell corporations in violation of not only the USA PATRIOT Act, but also State and Federal law as well.
This is all while the administration was very publicly encouraging home owners to modify their loans.
Mainstream Media Blackout; This Is How They Do It!