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Mystery of the Day: Who Wrote This Email to the Fed Just Before Lehman's Collapse?
Submitted by EconomicPolicyJournal.com
And, here it is....
Feel free to leave your best guess(es) in the comments along with your reasoning. We have our own, but will wait to disclose so as not to corrupt the noodling process.
On another note, doesn't this pretty much destroy the systemic risk argument that was used to justify the sweeping changes to the bankruptcy code in 2005, which grants exemptions for derivatives and repos from automatic stay? In other words, if all the counterparties to a bankrupt entity can liquidate the counterparty's collateral they're holding for repos and derivative trades, doesn't that fuel the "wave of selling unlike any we have seen before"?
Thank you ISDA.
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Nah, he doesn't undrstand enough finance to write that.
There was also a glaring lack of "I'm so, so wonderful" language.
And no "Bush's fault"
Um, (b) (4)
7 of 9's clone possibly, but borg all the way.
mr. "doing god's work"
I'm thinking Warren Buffett
added
...or Paul Volcker
This correspondence was taken from Page 754 of the following document set:
http://www.scribd.com/doc/42414020/Defendant-Federal-Reserve-Docum-Production-Lehman-Part-II-summer-2008-heavy-redactions-Lawsuit-3
Not Buffet. The email came from a Blackberry. Buffet is too stupid to use one.
The "Sent from my BlackBerry..." is from Kroszner, the forwarding party.
Check out page 706: Stephen Harbeck, CEO of SIPC, sent a very confidential email to, among others, Todd Farha. Farha, former executive of WellCare, is now under investigation by the SEC.
http://www.sec.gov/litigation/litreleases/2012/lr22221.htm
Why the hell is Harbeck sending confidential information to the (former) CEO of a health care provider, and why is he still the CEO of SIPC?
The directors of SIPC have day jobs. I wrote about that email before.
Didn't know about him being under investigation. Thanks.
You probably are aware of this, but search this article for 'Soros.'
http://www.sptimes.com/2007/10/25/Business/FBI_raid_shutters_Med.shtml
...and note the date of the raid.
Thanks!
Some interesting stuff around page 700 too.
My best guess would be Warren Buffett. It's comprehensive, clear, and he is looking to cover himself.
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D. Einhorn
Finkel and Einhorn! Einhorn and Finkel!
What's the connection!?
John Thain
With ML's short-term paper debacle, my bet's on Thain.
Mine too.
leeroy jenkins?
What are the odds of that being true?
32.3333% (repeating, of course)
+1000 to both of you.
The muppets
Fozzy
http://twitpic.com/906slp/full
LOL...here's the pic for everyone else:
NICE !
Is that the NY Fed Kenny?
http://www.menwholooklikekennyrogers.com/gallery01.html
haha cheers mate, how do you get pics in posts? Could open up a whole new dimension of my personality.
You have to be a contributing editor :-<
Aha! foiled. :-(
"I, like you have a DEEP interest in seeing the markets continue to function" Now who could that be...J. Christopher Flowers
Jeremy Shockey
Warren Sapp told you ?
It would be nice to actually SEE the GD email ...
Jamie Dimon
Dimon will never ask to end the insanity of TBTF.
Agreed. But it was a false preposition for a power grab, lol!
And yet here we are again.
Mitt Romney
someone at credit suisse?
just guessing.
http://expose2.wordpress.com
Jihad is a tool of the Zionists used to fleece the working class around the World of thier freedoms.
FEAR! Jihad causes FEAR!
Government Uses FEAR! to coral the Sheepeople!
Zionists continue to Murder and Perpetuate Genocide in Palestine!
Zionists Threaten WAR! with Iran!
Zionists Provide Funds to anyone on or off a Terror watch list.. if they are willing to do the Zionists Bidding!
The Muslims! are a Tool of the Zionists!
That is used against the Working class of the world.
Your tailor called -- the Alcoa Sombrero is back in stock.
I'm going out on a limb......
Cthulhu?Zero Hedge/Tyler Durden wrote it
Hjalmar Schacht. He's dead? So what.