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Text Of Edolphus Towns Subpoena To NY Fed

Tyler Durden's picture




 

The following are the items demanded by Edolphus Towns and the House Committee on Oversight and Government Reform from the Federal Reserve. We, for one, can not wait to see what ends up being dug up, seeing how the New York Fed has blatantly "forgotten" about our FOIA request for release of precisely the same data.

All documents in the possession, custody, or control of the Federal Reserve Bank of New York, relating to AIG credit default swap counterparty payments, the decision to compensate AIGs credit default swap counterparties at par, and public disclosure of the counterparty payments, including:

  • Emails, phone logs, and meeting notes of the following people:  Timothy Geithner, Stephen Friedman, Thomas Baxter, and Sarah Dahlgren;
  • Term sheets, including drafts, relating to AIG's  payments to its CDS counterparties; and
  • Emails, phone logs, and meeting notes relating to public disclosure of AIG's payments to its CDS counterparties, including disclosure to the SEC.

We are particularly happy that Goldman director Stephen Friedman has been implicated in this subpoena: perhaps we will finally be able to get some definitive evidence of wrongdoing by the Fixed Income sales and trading monopolist, in addition to the metric tons of circumstantial evidence of ongoing wrongdoing already presented.

 

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Wed, 01/13/2010 - 17:25 | 192918 Anonymous
Anonymous's picture

Why don’t they get the info from AIG, since the gov’t owns 80% of AIG anyway?

Wed, 01/13/2010 - 17:27 | 192920 MarketTruth
MarketTruth's picture

BANK RUN NOW!!! (put this on your website)

 

Per the article on ZeroHedge at http://www.zerohedge.com/article/if-government-wont-break-giant-banks-lets-do-it-ourselves

 

If Government Won't Break Up the Giant Banks, Let's Do It Ourselves

 

 

It is now time for everyone on MarketTicker, ZeroHedge and every other site to put on the top/center of the homepage in bold letters BANK RUN NOW!!! for the next week or two.

 

Also, contact EVERY blogger, webmaster, etc to do the same on their websites. Get as many websites as we can to have on their homepage at the top center in bold letters BANK RUN NOW!!!

 

Wed, 01/13/2010 - 18:46 | 193023 Anonymous
Anonymous's picture

Did so. 401k next b4 feds take control of it as well.

Wed, 01/13/2010 - 17:44 | 192945 10044
10044's picture

They'll dodge it, they run the gov remember?

Wed, 01/13/2010 - 19:14 | 193061 drbill
drbill's picture

I'm more inclined to think that the e-mails will be "lost".

Wed, 01/13/2010 - 19:46 | 193089 Anonymous
Anonymous's picture

Hopefully, these subpoenas will go further than the charade put on display today by our modern-day "Pecora Commission".

It's surreal watching these hacks ask Blankfein and Dimon their "opinions" on how to avoid future calamities which were caused by guys like Blankfein and Dimon.

Next weeks Congressional Oversight Panel Agenda:

The Manson family testifying on crime prevention
Con-Agra on establishing local Farmer's markets
Dow Chemical on enhancing food safety
Miscrosoft on best competitive practices
Monsanto on seed dispersion to the poor
Wal-Mart on creating new union enrollees

Thu, 01/14/2010 - 00:36 | 193376 Anonymous
Anonymous's picture

I share the same thoughts. I watched for awhile and I couldn't believe they were asking for opinions rather than facts. What a waste of time.

Thu, 01/14/2010 - 03:55 | 193484 Anonymous
Anonymous's picture

You left out - Banks advising on investments and saving for your retirement.

Wed, 01/13/2010 - 21:57 | 193212 tom a taxpayer
tom a taxpayer's picture

 

Thank you, Tyler, for shining the light.  The Towns Congressional Investigation, if done seriously, could led to historic prosecutions that penetrate Goldman Sachs teflon dons and the Fed/Wall Street mob. Geithner is just a front man, a patsy for Goldman Sachs and the Wall Street mob. The really explosive potential of the Towns Congressional Investigation goes way beyond Geithner to everyone, inside and outside the NY Fed, who produced AIG's bailout of Goldman Sachs and other banks at par, and executed a cover-up. Goldman Sachs Board member Stephen Friedman, who was Chairman of the Federal Reserve Bank of New York at the time,  is an 800 pound-person-of-interest in the investigation. It would not be a surprise to find Friedman is one of the teflon dons who organized or sanctioned the Fed's/AIG's back-door payment to Goldman Sachs and other banks. 

Another 800 pound-person-of-interest that the Towns investigation should check is William Dudley, NY Fed President, former Goldman Sachs executive, and Geithner accomplice at NY Fed.  

So, the Towns Congressional Investigation into AIG has the potential to blow the lid off the wide ranging criminal activity at the NY Fed and on Wall Strret. The object here is not just to bring Geithner, a pathetic patsy, to justice, the object is to follow the money and crimes and bring the entire criminal enterprise of Wall Street and the Fed to justice. Shock-and Awe mass trials and long prison sentences are way to clean out the current rat's nest at the Fed and on Wall Street.

 

Wed, 01/13/2010 - 22:15 | 193234 Anonymous
Anonymous's picture

Our representatives that we have entrusted sound economic policies to...

http://tinyurl.com/yb7bv9x

Thu, 01/14/2010 - 01:28 | 193412 CombustibleAssets
CombustibleAssets's picture

Looks like Turbo Timmy's

E-Mails, Phone Logs are up for grabs since this occured before he was appointed as privileged.

 

Thu, 01/14/2010 - 01:28 | 193414 Giovanni Zucchetti
Giovanni Zucchetti's picture

Why do people think that Neil Barofsky has not already seen most of this material?

 

I'm inclined to think this fishing expeditions is going to reel in no fishes.  There's nothing there.

Thu, 01/14/2010 - 11:41 | 193671 Vasco7777
Vasco7777's picture

Dig this --> http://www.reuters.com/article/idUSN1116982020100111

* Secrecy order stays in place until November 2018


 

Thu, 01/14/2010 - 20:31 | 194421 tom a taxpayer
tom a taxpayer's picture

Vasco7777- Thanks for this lead. Hopefully, the Towns AIG investigations as well as other congressional investigations will get access to this secret document. Regardless of whether the public gets access, Congress should be able to get access and use in their investigation.

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