This page has been archived and commenting is disabled.

Obama's Fed Nominee, Who Was Busted And Quit For "Impropriety", Reports Up To $40 Million In Assets

Tyler Durden's picture




 

Three weeks ago, when reporting on Obama's close personal friend and Bank of Hawaii "community banker" appointee to the Fed board, Allan Landon, we emphasized an apparently trivial data point that had somehow managed to slip through the background due diligence process. Namely, that about a decade ago, the same Landon stepped down as board member from the Seattle Federal Home Loan Bank after he was found - always in the passive voice - to have "failed to comply with a rule requiring the disclosure of conflicts of interest by a director by failing to make disclosure to the Seattle Bank board of their institutions' planned redemptions." The full story can be read here, but in a nutshell a banker that the president himself has appointed to join the US money printing authority was on the cusp of being investigated for embezzlement, and was forced to quietly disappear into the night despite denying "any wrongdoing."

Today we learn just how much assets the banker who at least once was caught with "borderline embezzlement" made during his humble tenure as a "community banker."

Reuters reports that Landon has up to $40.1 million worth of personal assets, according to government disclosure forms obtained by Reuters, which would make him one of the wealthiest Fed governors if confirmed to the post. As a reference point, according to Janet Yellen's most recent disclosures, her assets rose by at least 8% during 2013, raising their total to between $5.3 million and $14.1 million. This makes Obama's friendly, neighborhood banker guy more than 3x richer in the higher estimate.

And all Landon had to do was not get caught while allegedly embezzling. Well, not get caught more than once.

Some more on Landon's net worth:

Landon's personal wealth is high compared to other Fed governors and well above the previous person on the Fed who represented the community banking industry. That representative was former Fed Governor Elizabeth Duke, whose reported assets in 2012 ranged from $4.4 million to $10 million.

 

Landon's assets, which include holdings in the Bank of Hawaii and a Fidelity fund, range from $9.7 million to $40.1 million, according to Landon's public financial disclosure filing with the U.S. Office of Government Ethics. The agency's financial disclosure reports require a range of asset size and not specific amounts.

 

That range is just below the disclosed assets of Fed Governor Jerome Powell, who was an investment banker at Dillon Reed and Carlyle Group partner before being appointed to the Fed.

 

Among Landon's investments are holdings in the Second Curve Opportunity Fund, FTVentures and Chronic Intelligence Inc, a software company based in Utah.

So in summary: Obama's personal pick for a banker that is "representative" of the common man will not only fulfill that requirement with net assets that are perfectly indicative of the middle-class American, somewhere between $10 and $40 million (the variance can supposedly be attributed to whether or not Virtu's momentum ignition algos have blown up one or more of his stocks), but who will clearly not put the stock market first and foremost on the list of things that the Fed is supposed to wealth effect.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 01/26/2015 - 19:28 | 5708373 Ignatius
Ignatius's picture

Quite simply, no one else was qualified.

Mon, 01/26/2015 - 19:37 | 5708397 drendebe10
drendebe10's picture

Corruption begets more corruption from the incompent divisive disrespectful arrogant narcissistic illegal indonesian kenyan alien muslim sociopathic patholcial liar in chief fudgepacker...

Mon, 01/26/2015 - 19:42 | 5708415 TeamDepends
TeamDepends's picture

There's not a smidgen of "impropriety"....

Mon, 01/26/2015 - 19:54 | 5708442 ghengis86
ghengis86's picture

Dude looks like a pedophile; he'll fit right in!

(Or is that a prerequisite for Fed Res or any other Bathouse appointment?)

Mon, 01/26/2015 - 20:01 | 5708458 Bunghole
Bunghole's picture

Nothing to see here.  Move along.

Moar importantly, SNOW!.  Everybody shelter in place.  Your government loves you.

Mon, 01/26/2015 - 20:18 | 5708510 sodbuster
sodbuster's picture

The SOB is perfect!! He'll fit right in.

Mon, 01/26/2015 - 21:47 | 5708816 TruxtonSpangler
TruxtonSpangler's picture

The real number is probably $10.001 Million. Nothing to see here.

Mon, 01/26/2015 - 23:33 | 5709207 TruthInSunshine
TruthInSunshine's picture

Obama is looking out for the middle class and working class. He's a real hero of Middle Class Americans (what are left of them):

http://jackbaruth.com/wp-content/uploads/2015/01/The-Tech-Supper.png

Mon, 01/26/2015 - 20:32 | 5708550 TrueWho
TrueWho's picture

He looks like a lesbian, so Yellen should be pleased.

Mon, 01/26/2015 - 20:37 | 5708567 El Oregonian
El Oregonian's picture

A prime candidate for "Nail-gun diplomacy"

Mon, 01/26/2015 - 19:30 | 5708375 SheepDog-One
SheepDog-One's picture

I'm surprised this Fed guy was ONLY involved in embezzling? One of the squeaky clean ones!

Mon, 01/26/2015 - 20:37 | 5708568 me again
me again's picture

The Bank of Hawaii is insolvent; like B of A; but you're  not supposed to notice. The 1st. Bank of Hawii; on the other hand, is run by japanese Americans, and is honest and solid. (The onlly way to get an involvent Bank is to cheat lie and steal; it's not exactly nuclear physics how to balance the books and pay the light bill.)

Mon, 01/26/2015 - 19:34 | 5708383 kaiserhoff
kaiserhoff's picture

Is that thing man, woman, or beast?

Perfect fit.  Should be named Pat.

Mon, 01/26/2015 - 19:59 | 5708455 TeamDepends
TeamDepends's picture

And you may find yourself
Living in a McMansion
With a beautiful homo wife
And you may ask yourself,
"My God, who did I blow to get here?"
Letting the days go by....

Mon, 01/26/2015 - 20:33 | 5708545 kaiserhoff
kaiserhoff's picture

He was a partner in Ernst & Young, rare for a fairy,

but the old Ernst & Ernst was almost exclusiviley a Jewish firm.

You think maybe???

Mon, 01/26/2015 - 20:38 | 5708570 TeamDepends
TeamDepends's picture

Same as it ever was
Same as it EVER was

Mon, 01/26/2015 - 19:37 | 5708389 LawsofPhysics
LawsofPhysics's picture

Precisely the type of professional experience that is required.

 

Mon, 01/26/2015 - 19:37 | 5708390 new game
new game's picture

moar banker scum. bummers golfing bud? these sickening m.fuks.

the top crimes syndicate seeks out a "clean canidate" and this is the one?

fucking hopeless...

Mon, 01/26/2015 - 19:38 | 5708400 loveyajimbo
loveyajimbo's picture

Fellow Bath House member... this guy must give hellaciously fine skull.... In ObongoLand... that is all that is required.

Mon, 01/26/2015 - 19:50 | 5708435 nmewn
nmewn's picture

And big ears, for grabbing at just the right moment.

Mon, 01/26/2015 - 21:18 | 5708739 TheFourthStooge-ing
TheFourthStooge-ing's picture

It's what they call banksterrific.

Mon, 01/26/2015 - 22:52 | 5709058 Hulk
Hulk's picture

Perfect for sticking sticks into and riding toy horsey style !!!

Mon, 01/26/2015 - 19:39 | 5708408 blindman
blindman's picture

the man is wearing a yellow ribbon,
oh my, and a hawaiian style, what do they call
it, "lei". is that not enough to be trusted
in this world?
but what does trust got to do with it?

Mon, 01/26/2015 - 21:08 | 5708704 TheFourthStooge-ing
TheFourthStooge-ing's picture

UBS (Ukelele Backed Securities)

Mon, 01/26/2015 - 19:44 | 5708416 44magnum
44magnum's picture

Looks like hes trying to suck a load of cum from a dick. Whos dick?

Mon, 01/26/2015 - 19:55 | 5708449 Thirtyseven
Thirtyseven's picture

Obama's medium sized black dick?  It's a liberal delicacy from what I hear.

Mon, 01/26/2015 - 19:43 | 5708417 franzpick
franzpick's picture

And that's why O'Zero had him appointed, to share a chunk of the $40 MIL community fortune.

Mon, 01/26/2015 - 19:46 | 5708424 Thirtyseven
Thirtyseven's picture

Somebody recently got Lei'd.

Mon, 01/26/2015 - 19:56 | 5708446 HardlyZero
HardlyZero's picture

Yes, we printed some.

Mon, 01/26/2015 - 20:21 | 5708517 847328_3527
847328_3527's picture

Some folks forget that The Law is only enforced against the little peoples.

Mon, 01/26/2015 - 19:47 | 5708426 optimator
optimator's picture

Should be "Known Wealth".  They control totally and don't care what we know about them because they know there is nothing we can do.

Mon, 01/26/2015 - 19:53 | 5708445 Thirtyseven
Thirtyseven's picture

There's plenty "we" can do.  Time to start slitting throats.  Eventually more and more people are going to have nothing to lose, so might as well bump off some oligarchs and go out with a bang.

Mon, 01/26/2015 - 20:29 | 5708540 me again
me again's picture

Chronic Intelligence, in Utah / ? Software ?  NSA anyone ??

Tue, 01/27/2015 - 03:53 | 5709643 boattrash
boattrash's picture

So, ya think they can find the ones that upvote his comment too?

Mon, 01/26/2015 - 19:48 | 5708427 deeply indebted
deeply indebted's picture

At what point does Cronyism merge with Bankism to become Fascism? Oh wait...that already happened.

Mon, 01/26/2015 - 19:51 | 5708432 kchrisc
kchrisc's picture

Bankster: Those that oversee thievery while thieving.

A bankster is a robber that after robbing you, insists that you still owe him

The banksters need to repay us.

 

Lawyers are the vultures who eat off the corpse of a dead and dying society. The banksters are the hyenas that killed that society.

Mon, 01/26/2015 - 19:58 | 5708451 pndr4495
pndr4495's picture

This gem came from an AA meeting : " I was the type of alcoholic who would steal your money , then offer to help you look for it." 

Mon, 01/26/2015 - 19:56 | 5708447 buzzsaw99
buzzsaw99's picture

this maggot or that. it hardly matters.

Mon, 01/26/2015 - 19:57 | 5708450 Van Halen
Van Halen's picture

Community Banker

Community Organizer

Community Activist

Very lucrative!

Mon, 01/26/2015 - 21:07 | 5708695 Thirtyseven
Thirtyseven's picture

I want that job where someone gives you wads of cash and then you go around paying people to show up to protests.

Mon, 01/26/2015 - 20:08 | 5708468 Son of Captain Nemo
Son of Captain Nemo's picture

Just like everyone else in Washington D.C. serving the legislative, judicial and executive...

He's perfect!

As the motto goes in our Nation's Crapital...

If it's broke?  Don't fuck with it!  Because we don't care... And we know you the citizen and taxpayer certainly don't care either!

Mon, 01/26/2015 - 20:08 | 5708476 Salsipuedes
Salsipuedes's picture

Just another Hula Hula Boy

In this case, "She" is your government. You can guess who the rest of the players are...

https://www.youtube.com/watch?v=zqviDAkNo48

Mon, 01/26/2015 - 20:10 | 5708485 Rootin' for Putin
Rootin' for Putin's picture

Hes practically one of us.
(in the 0 - 50,000,000 common man demographic)

Mon, 01/26/2015 - 20:20 | 5708512 hotrod
hotrod's picture

Well he helped substantiate/validate/create Obama's Hawaii birth certificate so what does it matter.    NOW

Mon, 01/26/2015 - 20:23 | 5708524 Its_the_economy...
Its_the_economy_stupid's picture

we're talkin' bout BANKSTERS.  He was the cleanest shirt at the laundry.

Mon, 01/26/2015 - 20:35 | 5708562 mendolover
mendolover's picture

I don't like the look of this guy.  

Mon, 01/26/2015 - 20:55 | 5708651 Yen Cross
Yen Cross's picture

   May he be found naked in his bathroom with between 10 & 40 nailgun holes in his head.

Mon, 01/26/2015 - 20:55 | 5708657 Questan1913
Questan1913's picture

If you haven't proved you are a sociopath you never make the "A" list of nominees.  These positions contain the worst scum this country can offer.  Their hives are Washinton DC and New York, NY.

Mon, 01/26/2015 - 21:10 | 5708706 rogerrabbithole
rogerrabbithole's picture

dude look like a lady.

Mon, 01/26/2015 - 21:18 | 5708733 hotrod
hotrod's picture

Now I know O is gay

Mon, 01/26/2015 - 21:25 | 5708761 Berspankme
Berspankme's picture

yep you know this assclown is all over soetero's cock

Mon, 01/26/2015 - 21:20 | 5708741 Shitgum Suicide
Shitgum Suicide's picture

He embezzled some folks.

Mon, 01/26/2015 - 21:23 | 5708755 MeelionDollerBogus
MeelionDollerBogus's picture

Whuuuuut?

Bankers aren't honest?

Replace this man immediately with the Honorable Jon Corzine! (once he's set free, of course!)

Mon, 01/26/2015 - 21:44 | 5708808 Duc888
Duc888's picture

"Landon's assets, which include holdings in the Bank of Hawaii and a Fidelity fund, range from $9.7 million to $40.1 million........."

 

Is it just me or does this sound a little strange.  Imagine owning so much shit you really don't have an idea of how much shit you own.  Just seems odd. Meh.

 

Mon, 01/26/2015 - 21:48 | 5708814 dexter_morgan
dexter_morgan's picture

but...but...but....he was never convicted was he? dat means he's innocent right?

Mon, 01/26/2015 - 22:12 | 5708884 overmedicatedun...
overmedicatedundersexed's picture

John Boehner has offered a bigger benefits package for him to join the R team- then obuma - john likes his resume. tan and all those flowers

Mon, 01/26/2015 - 22:37 | 5708986 litemine
litemine's picture

Just another Sock Puppet. The American System is full of them.

Mon, 01/26/2015 - 22:44 | 5709026 Moon Pie
Moon Pie's picture

Natch.

Mon, 01/26/2015 - 23:44 | 5709242 ThroxxOfVron
ThroxxOfVron's picture

Metro-technocrat-hole

Tue, 01/27/2015 - 02:15 | 5709541 Bear
Bear's picture

When Obama leaves office ... we will all be wondering where he got his $100 million ... how can this man be believed by so many people?

Tue, 01/27/2015 - 02:39 | 5709568 jgonzz
jgonzz's picture

This guy any relation to Alf Landon? They sure look similar!

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