New York Fed Refuses To Disclose Data On "The Largest Theft Of Funds In National History" Which Could Be Three Times Larger Than Expected

Tyler Durden's picture

Your rating: None

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 06/22/2011 - 10:24 | 1391606 LeBalance
LeBalance's picture

"I am shocked, shocked I say, to find that Theft is taking place in the Banking industry."


Wed, 06/22/2011 - 11:37 | 1391941 Republi-Ken
Republi-Ken's picture

Shocked... That Republicans

Who Always Brag Of how great they manage big corporations

are so blatantly incompetent with US Taxpayer money... not their own money.

Maybe it's that Hate Big Gov Neurosis that Republicans are born with.

...Like they can't help themsleves but to screw up running Big Gov.

Or was it just BUSH - CHENEY? 

Wed, 06/22/2011 - 12:26 | 1392119 NotApplicable
NotApplicable's picture

How about you give your ignorant lefty-righty divide and conquer tactics a rest here?

BTW, I didn't junk you because I want everyone to see just how determined you are to look like an ass.

Wed, 06/22/2011 - 13:27 | 1392314 Marty Rothbard
Marty Rothbard's picture

Oh yes, those two haters of big government, Bush and Cheney, who started two wars (the health of the state),  enhanced the drug war,  expanded middle class welfare by originating, and pushing the medicare drug benefit through congress, denied the right of habeus corpus to American citizens, illegaly spied on every American with a telephone, or email address, had their lawyers make up the fantasy of the unitary executive, issued uncounted secret executive orders, originated, and pushed the patriot act through the congress, tortured POWs, pushed through the first banking and auto company bailouts, by threatening congress with martial law, and anounced that we were all Kenesians.   If Barry boy gets a second term, and tries real hard, he might, I say might, exceed Bush in his government enlarging efforts.  B&C didn't screw up running big government, they ran big government perfectly.

   What planet are you living on?  Haven't you been paying attention?  Nobody loves government more than national socialists, uhh I mean Neocons.   I'm a Republican, a Ron Paul Republican, I'm proud to say, and I hate the hell out of big government.  It's not a inborn neurosis, but a reasoned position, reached by years of observation, of government on all levels, and the study of the Austrian school of economics.  The people with mental health problems are the ones who have, not neuroses, but a full blow psychotic delusion, that government action is the answer to personal, and societal problems, after government has tried, failed, and actually made said problems worse, again and again.

   Maybe I misread your sarcasm, for serious belief.  For your sake, I certainly hope so.

Wed, 06/22/2011 - 19:18 | 1393418 Ura Bonehead
Ura Bonehead's picture

Shocked... That Republicans...


Then as a Democrats I'm sure you'll be able to find the missing money as I've never seen a Democrat who couldn't find and spend every last dime of everyone else's money.

Wed, 06/22/2011 - 12:09 | 1392055 Armando Javier ...
Armando Javier Finkeltein of the Boise Finkelsteins's picture

Not many other people are shocked.

Wed, 06/22/2011 - 13:40 | 1392359 karzai_luver
karzai_luver's picture

a criminal doesn't give a shit about red/blue - JUST THE GREEN er GOLD will do.

They steal from all -- the only question is where is the greatest opportunity at the time.

For some reason today I hark back to the days of Charlie Finley and Harvey the rabbit who would bring a fresh supply out of a hole at home plate.




Wed, 06/22/2011 - 15:49 | 1392892 sgt_doom
sgt_doom's picture

So according to the Special Inspector General for Iraqi Reconstruction Funds' (SIGIR) report I read awhile back, there's $8.7 billion unaccounted for (I assuming that doesn't include that $6 billion or so missing??).

Now, that was interesting (aside for all the officer busts also detailed in that report --- definitely not any "Army of One" when it comes to thievery and embezzling) because the Iraqi oil revenues went into accounts, first of the Iraqi Trade Bank, supposedly these oil-reconstruction accounts being managed by JPMorgan Chase and their managing director, Daniel Zelikow, then on to the Federal Reserve Bank of NY's account, where Timothy Geithner was then chairman.

Also, on hand at that time, was Reuben Jeffery II, special assistant to that viceroy, Bremer, and old Reuben would eventually end up as the CEO of Rockefeller Financial Services (FYI: JPMorgan Chase = Rockefeller family interests, Rockefeller Financial Services = Rockefeller family interests, Geithner = Rocky's boy, etc., etc.).

Now, it is interesting as well that Daniel Zelikow, MD over at JPMC, was an old college roomie with Timothy Geithner, and that Timothy would later stay at Daniel's luxurious condo in D.C. when Geithner was appointed to head Treasury (or, alternatively, one could start singing, "It's a small world after's a small world after all...."), but sgt_doom can't carry a tune, dammit!!!

Later, we would witness Philip Merrill's rather peculiar suicide, and James McDonald's conveniently timed suicide, and of course, Benazir Bhutto's most unfortunate murder (which may have nothing to do with the above, but she was involved with the "food-for-oil" scandals, and that food-for-oil monies were rolled into the oil-reconstruction accounts at the Trade Bank, and late the FRBNY's account).

So Timmy's at the Treasury, with all those Goldman Sachs alumnus, or alumnis, and Daniel's at Goldman Sachs, and Reuben's over at Rockefeller Financial Services.  All sounding pretty tidy, now?

One might even infer a continuous series of heists going here --- and please, no retorts about the DoD's missing $2.3 trillion -- that was a large group heist, while this is a much smaller and targeted heist.

Anyone have the details on that unaccounted for $16.7 billion from Afghanistan?  (And why always that $.7 thingy????)

Where's that super T-man, B.G. Jayne, when we direly need him?????  Does not the Treasury have any more top T-men such as he?????

Wed, 06/22/2011 - 10:24 | 1391608 Spastica Rex
Spastica Rex's picture

Just the cost of doing business.

Dear America,

Fuck off.

Yours sincerely,

your masters

Wed, 06/22/2011 - 10:53 | 1391757 IBelieveInMagic
IBelieveInMagic's picture

Put it down to fog of war. Shit happens.

They should look in sofa cushions.


Wed, 06/22/2011 - 12:54 | 1392204 mudduck
mudduck's picture

They should look in Cheney's basement, right beside the shrink wrapped ex-hunting compadres.

Wed, 06/22/2011 - 14:08 | 1392469 The Profit Prophet
The Profit Prophet's picture

I'm thinking it's in Goldman's vault.

T.E.I.N. everyone!

Wed, 06/22/2011 - 10:25 | 1391609 Dick Darlington
Dick Darlington's picture

End the FED before it ends us.

Wed, 06/22/2011 - 11:23 | 1391873 Raymond Reason
Raymond Reason's picture

Money always leaves a trail, even cash.  That's why the Fed is the perfect cover.  Its like crossing stream. 

Wed, 06/22/2011 - 11:44 | 1391964 Manthong
Manthong's picture

Incredible. The present government of the United States of America operates in blatant violation of the Constitution and has proven time and time again that it is too irresponsible to be allowed to manage the country’s finances.

Wed, 06/22/2011 - 12:35 | 1392137 NotApplicable
NotApplicable's picture

And this is surprising how, exactly? Why would you expect the mafia to act any differently?

Geithner was knee-deep in all of this, yet he has full immunity for his actions, because as we all know, he was just doing his job.

All wars are premeditated and promoted just for this sort of wealth transfer (and the further securing of power that it allows).

Wed, 06/22/2011 - 13:30 | 1392346 Marty Rothbard
Marty Rothbard's picture

Full immunity?  Just doing his job?  You need to review a little history.  The Nuremburg trials.  That excuse didn't save those national socialists, it won't save these.

Wed, 06/22/2011 - 15:21 | 1392794 TheMerryPrankster
TheMerryPrankster's picture

It also gives you a chance to wipe out the other big families and take their resources, loot, and connections. Plus you give all the patriots and nationalists a reach around and make sure their patriotic penises are at full attention as they beat their chests with nationalist pride. USA, USA, USA, - like a football game except the stakes are higher and you kill the other team.

War is the best racket in the world, thats why it will never go away.

Wed, 06/22/2011 - 12:49 | 1392189 NotApplicable
NotApplicable's picture


Wed, 06/22/2011 - 10:22 | 1391612 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Er, what about the $2.3 trillion 'missing' that Rumsfeld disclosed the day before September 11th?


Wed, 06/22/2011 - 10:26 | 1391624 SheepDog-One
SheepDog-One's picture

+ 2,300,000,000,000

Wed, 06/22/2011 - 10:33 | 1391654 Problem Is
Problem Is's picture

Simple accounting entry:

US Criminal "Defense" Contractor Assets
(GE, Haliburton et al):

$2.3 Trillion

US Taxpayer Liabilities:
$2.3 Trillion

Wed, 06/22/2011 - 10:40 | 1391681 Dr. Richard Head
Dr. Richard Head's picture

I am going to try giving the "accounting error" excuse with my "owed" income taxes.

Wed, 06/22/2011 - 10:42 | 1391693 johnnymustardseed
johnnymustardseed's picture

Exactly.... War what is it good for???? Cheney and his buddies at Haliburton

Wed, 06/22/2011 - 11:04 | 1391799 Caviar Emptor
Caviar Emptor's picture

Lord Haliburton, to you. 

Wed, 06/22/2011 - 11:15 | 1391827 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

It's all Bush's fault!  Oh wait....

Wed, 06/22/2011 - 15:54 | 1392921 Hephasteus
Hephasteus's picture

It all started with the 60's. JFK assassination. CIA pentagon takeover. It's just been continueing. Problem is when the world becomes a debasement machine instead of a purification machine it debases faster and faster. END.

Wed, 06/22/2011 - 10:56 | 1391754 johnQpublic
johnQpublic's picture

i thought it was 3.2 trillion....


however the bailout and resultant stimulus is still a much larger theft

not to mention the emptying of social security fund over the years

i wonder how much the IMF and world bank have effectively pilfered over the years

Wed, 06/22/2011 - 12:00 | 1392021 Oh regional Indian
Wed, 06/22/2011 - 13:27 | 1392313 Problem Is
Problem Is's picture

"i thought it was 3.2 trillion..."

Oooopppppsss.... Just a little accounting error...

Let me make an adjusting entry to that thar journal...

Wed, 06/22/2011 - 14:02 | 1392461 Rick64
Rick64's picture

3.3 Trillion actually. Fiscal year 1999- 2.3 T missing, fiscal year 2000 1.1 T missing.

 Watch at 1:30

Wed, 06/22/2011 - 11:20 | 1391855 friendly manitoba
friendly manitoba's picture

i doubt that it is missing  - i always  thought they under estimated the costs of these wars ...   if it costs a billion dollars to have a g8  meeting in toronto   - several ten year wars  could easily cost $5 trillion  - sad  

does anyone else find tylers math questions a bit much ?  44 minus  __  = 73 ?


Wed, 06/22/2011 - 11:51 | 1391990 el Gallinazo
el Gallinazo's picture

Apparently not.

Wed, 06/22/2011 - 15:24 | 1392814 TheMerryPrankster
TheMerryPrankster's picture

None of these wars are funded, if you paid the least bit of attention for the last decade, you'd know the entire war costs are borrowed and add to the national debt but are kept off the books for official accounting.

Hence there is no way a single penny was used to fund any war efforts.

The people who are supposed to know, know where the money went. The families are very strict in their accounting. Just because nobody "officially knows" doesn't mean nobody knows.

Wed, 06/22/2011 - 11:52 | 1391993 Maxter
Maxter's picture


we have a winner!

Wed, 06/22/2011 - 16:00 | 1392931 sgt_doom
sgt_doom's picture

I believe that's called "public funds for private use" account.

Been active for quite awhile, chum...

Wed, 06/22/2011 - 10:28 | 1391619 Madcow
Madcow's picture

where's Oprah ? 


Wed, 06/22/2011 - 11:02 | 1391789 Temporalist
Temporalist's picture


Wed, 06/22/2011 - 10:29 | 1391625 Financial Newbie
Financial Newbie's picture

Lose $18.7bn?

No worries, I'm sure the Fed will print some more...



Wed, 06/22/2011 - 10:39 | 1391675 Problem Is
Problem Is's picture

Sure, The Bernank says:

"The only cost associated with $18.7 Billion is... some paper and a couple of Bernanke Buck Green ink cartridges..."

Wed, 06/22/2011 - 11:18 | 1391838 Caviar Emptor
Caviar Emptor's picture

Well there was a whole shadow armed services err brown shirts errr excuse me Private Military Companies to fund:

Blackwater, Titan Corp, AirScan, Boughton Protection Services, Pathfinder Security, DynCorp, ITT Corp, JaneGroup,Northbridge Services, Xeros Services, Versar Inc, Zapata Engineering, CACI, Aegis Defense Services, Red Star Aviation, Obelisk INternational, SCG International Risk, Omega Security Solutions, AQMI Strategy, plus Iraqi paramilitaries and politicians to be bribed. 

A few trillion seems to me to be downright low budget and skimpy

Wed, 06/22/2011 - 10:26 | 1391626 Stuck on Zero
Stuck on Zero's picture

This amount is trifling.  Here is CBS News coverage of Donald Rumsfeld's Pentagon speech on September 10, 2001 in which he declared that trillions were missing from the Pentagon:

Much more here:



Wed, 06/22/2011 - 10:38 | 1391669 swissaustrian
swissaustrian's picture

Of course, the timing of the announcement was perfect.

One day later nobody would care about it...

Wed, 06/22/2011 - 10:46 | 1391714 alien-IQ
alien-IQ's picture

isn't it amazing how that story just vanished?

Wed, 06/22/2011 - 11:15 | 1391840 Caviar Emptor
Caviar Emptor's picture


But there was a boom in private military services shortly after!

Wed, 06/22/2011 - 11:54 | 1391986 Almost Solvent
Almost Solvent's picture

The disappearing story I am more interested in was:




That was 24/7 coverage the entire summer long and then BAM! 9/11. Shortly after that they found her body and ... OOOPS! the killer wasn't the Congressman! It was the professor, in the lounge, with the noose.

Wed, 06/22/2011 - 13:15 | 1392294 Badabing
Badabing's picture

How about two Jap business men cross border from Italy into Switzerland with US bonds, and lots of them!

Wed, 06/22/2011 - 11:44 | 1391949 writingsonthewall
writingsonthewall's picture

It would be amazing if it were China, or Stalinist Russia, or maybe Syria - but are you really surprised that the media drop stories which the Gubbermint doesn't want you to know about?

What about the Nebraska power plant? - awfully quiet considering it's under water.


If you don't like it - go live in China - where at least Twitter can tell you the news - unlike the USA where people get arrested for filming the police recklessly and excessively shooting a car to pieces.


Alice is through the looking glass - how long before the country wakes up?


For evil to prevail - all it takes is for good men to do nothing.

Wed, 06/22/2011 - 13:04 | 1392245 Rusty Shorts
Rusty Shorts's picture

It's all coming together now.

Wed, 06/22/2011 - 10:31 | 1391628 bonddude
bonddude's picture

Don't you remember when Bremmer had containers full of cash flown over early in the conflict?

Old news. Al Sadr is flush for protecting from holdout bathists. That red headed guy Saddam's

cousin was never caught. We need to leave Iraq. We're gonna need boots for Lybia (light,

sweetest). O will announce draw down in opium land today, right? Doomed

Do NOT follow this link or you will be banned from the site!