Hank Paulson Tipped Off The Goldman-Led "Plunge Protection Team" About Fannie Bankruptcy 7 Weeks In Advance

Tyler Durden's picture

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TruthInSunshine's picture

 

 

Don Corleone <3 Hank Paulson & wonders how he does it.

Hank Paulson heard of this admiration, and told the Don that "Moe Green was a great man."

#HankPaulsonIsUntouchableBitchez

Mr Lennon Hendrix's picture

Just hang him and be done with it

rajat_bhatia's picture

I was wondering why Tyler didnt pounce on this report earlier. It enthralls your audience when we hear Goldman's molestation tales

Harlequin001's picture

Well I think you should have given him immunity from prosecution, in line with his request...

It's the only way he could have done a proper job...

and so rests the case for the defence M'Lord...

BaBaBouy's picture

The only missing piece of the Puzzle is ...

 

How many Trillions of OTC Paper have they spent controlling (Down) the Gold Price?

Is it 1, 2 or 5 Trillion ???

 

We'll find out soon enough.

Oh regional Indian's picture

Baba, the longer supression has been in SIlver.

Don't forget Silver. It's in the veins of this golden mess. ;-)

ORI

The Plan Updated

Mr Lennon Hendrix's picture

Silver

Yes she who has been blocked in the cave

We who have never forgotten

Have found her, and will free her

strannick's picture

Hank Paulson, scummy banker, corrupt politician

BaBaBouy's picture

Yes of course Silver also Maniped, poor mans Gold, and always goes along with Gold.

 

BY THE WAY ...

60 Mins reported a while back, Paulson is an avid  "Snake Collector".

 

Popo's picture

In the immortal words of NEO:

 

 

"WE NEED GUNS.   LOTS OF GUNS."

Fukushima Sam's picture

I love the smell of fried squid in the morning.

Troll Magnet's picture

fuck all y'all.  i wanna be in the next meeting!  how many people do i need to rob in order to join the club?

redpill's picture

"It's a big fuckin' club, and you ain't in it."

 

--George Carlin

Troll Magnet's picture

george carlin, he was the best.  we should really require all americans to watch and listen to his monologues.  seriously.  

nope-1004's picture

Buying silver is a 100% vote against the banking cartel and their ways.

Which is why I bought LOTS.  Fuck these crooks.  They'll all end up pissing on each other as the ship sinks anyway, and I want to be as far away as possible.

 

JPM Hater001's picture

Why is everyone hating on Hank.  I mean reall, if you think about it if the big one had come in 2008 I would have been totally taken.  Now I am much more prepared.

12ToothAssassin's picture

True, it was rather thoughful of Mr Hanky to give us a warning shot. I stay warm at night knowing he always acts in my best interest.

Amish Hacker's picture

Immunity from prosecution was foremost on Paulson's mind. Remember the wording of the Paulson Plan:

Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

That's the kind of CYA language someone would use if he was sure that what he was about to do was illegal.

In a perfect world (and we're getting there), nothing Goldman does would ever be reviewable by anyone.

http://www.nytimes.com/2008/09/21/business/21draftcnd.html

max2205's picture

So this is how it goes. Tell the world one thing and tell insiders the truth. Wait a bit then tell the world what is really gonna happen.

Rinse and repeat till insiders kill those who don't know. What a fucking joke this country is. Fuck 'em!!!

<>^^#~~<>€£££*%#~~<€€*##~||~<>€^^*£!>,|}#>^££¥+¥£><||]]!!!!!!!

Voodoo Economics's picture

I was the first one he called, huh huh! You outsider peons just wish you were in the GS family where we intend to keep it.

 

Harlequin001's picture

Nope, I've got gold old stick. I couldn't give a shit...

Voodoo Economics's picture

Give us a few more months and we'll have this FOIA issue taken care of so you can't mess with the family no more.

 

Harlequin001's picture

that's ok, I already have gold stashed overseas in a foreign vault.

Let me know when you're done, so I can call someone who's bothered...

bullion bugs rule KO...

ltsgt1's picture

Makes me sick too and I'm losing faith. It's becoming increasing clear that boiler room operations are illegal only for the ones with no political collection and mafiaso types. Mainstream financial media is assisting such boiler room goons with unconfirmed rumors, moving markets in a way that should bring about serious scrutiny.

NEOSERF's picture

I agree, the point of the stock market for most folks was to put your hard earned money into something that could reliably (+11% every year) help you in retirement.  Not that it was different in the past but it has gotten so far away from something that reflects reality vs. the shadows that it is a HUGE risk to be outside the circle.  0.1% yields on savings suck so gold is really the only option but that like all the other commodities is manipulated badly as well...

LongBalls's picture

If you play in these markets you MUST know that the deck is stacked against you. Play if you must, but at your own risk.

Or... buy gold and silver.

Jay Gould Esq.'s picture

I was unaware that Chanos was PPT. Indeed, that clarifies the perspective regarding his unique and uncanny shorting abilities.

"I don't throw darts at a board. I bet on sure things. Read Sun-tzu, The Art of War. Every battle is won before it is ever fought."

- "Gordon Gekko"

Harlequin001's picture

Tell that to the Brits, They've managed to pull some stunning defeats from certain victories, and that takes real skill...

moondog's picture

and a certain degree of luck...just ask the Spanish

Don Birnam's picture

Re: PPT

Considering this perspective, "abilities." Lest we forget, Mr. Chanos is also a CNBC "regular" -- a common denominator regarding the elite, "A-Team" cadre.

"I love it when a plan comes together !"

-- Col. Hannibal Smith ( Ret. )

Duuude's picture

 

Geithner too

 

As for our current Treasury Secretary?  Well in his last role as head of the most powerful regional bank - he helped grease the skids for the current system.

  • When Treasury Secretary Timothy Geithner was president of the New York Fed beginning in 2003, he worried the Fed wasn't close enough to big investors, (that line is so open to interpretation it's beyond the pale) especially financial firms like hedge funds that operated outside of the regulated banking industry. He set up a new staff position to coordinate private meetings with hedge fund managers and other Wall Street power brokers. (what a gentleman - with kind moves like that I bet the power players would like to see him in say a role as.... Secretary of the Treasury someday)

 

http://www.fundmymutualfund.com/2011/11/2-amazing-stories-in-past-week-o...

dcb's picture

Hello, why do you think Obama got appointed and I am sure he got appointed on the advice of wall street types.

Sunset chaser's picture

Ever wonder why our schools don't have more classes stressing the Constitution?

Ever wonder if any of our politicos or banksters could pass even a simple test on the principles and amendments of the Constitution?

Or why we don't require them to?

Troll Magnet's picture

no.  i was educated NOT to wonder.  the constitution?  WTF is that?  can i short it?

hedgeless_horseman's picture

 

 

Ever wonder why our schools don't have more classes stressing the Constitution?

Robert Heinlein sure did.

Starship Troopers is a political essay as well as a novel. Large portions of the book take place in classrooms, with Rico and other characters engaged in debates with their History and Moral Philosophy teachers, who are often thought to be speaking in Heinlein's voice.

 

http://en.wikipedia.org/wiki/Starship_Troopers#Politics

 

Good reading on this topic as well as on suffrage.

ucsbcanuck's picture

Thanks hedgeless - the minute everyone hears Starship Troopers they think of the ridiculous movie. They don't realise that there are some deep and profound questions in the novel.

Just like Contact - Carl Sagan intended that the novel be deeply philosophical. Cue Hollywood to dumb it down for the sheeple.

Iwanttoknow's picture

Duude,You posted before me.we should never forget him.it was Geithner who sold hank the idea to shaft us,the taxpayers.

mac768's picture

... and we are the 99.999% who pay with our taxes for the shenanigans once it does not "work"

Arthor Bearing's picture

I'm as conservative as they come, but they shouldn't touch social security or any other entitlements until the government stops giving welfare to mil/billionaire hedge fund managers, bankers and insurers (including the "Obamacare" health insurance corporate welfare). "Save the economy" and get yourself on the cover of fawning magazines by making your friends rich, how noble.

DaveyJones's picture

they'll touch it even in its private parts until the little guys can afford to buy a lobbyist or borrow a pitchfork

JPM Hater001's picture

If you are conservative you should try libertarianism.  Even less to worry about.

Arthor Bearing's picture

I believe in a weak central government unless and until I am in charge of it!

blindfaith's picture

"Entitlements"  oh, you mean the money we have put into Social Security all our lives and we are entitled to draw on when we reach legal age?

Seems to me, as a conservative as well, the ONLY government program that has not been corrupted by Wall Street is Social Security!  But wait, They will after the next election.

Now ...all the welfare given to those you mention has become the entitlement program that the GOP intents to protect, now that the DNC has paved the way.

 

Arthor Bearing's picture

You're right, but that social security fee we were forced to pay has been stolen from the trust and replaced by IOU's, kind of like the suitcase full of cash in Dumb & Dumber. So it was essentially just an extra tax all along, because that money isn't there any more. We've already lost that battle.

Believe me, social security is on its way out just like the entitlements.

Taint Boil's picture

Well at least he didn’t commit welfare fraud, because that would get you some jail time.

Debt-Is-Not-Money's picture

"Just hang him and be done with it"

Just make sure the knot is in back of his neck and let him down slowly- it should take 20-30 minutes. A nice touch would be a slightly windy day!

Hang 'em high!

Then go get all the others rinse and repeat...

11b40's picture

Hang him and Corzine togethger...one rope, double noose.

If anyone wants to actually DO something that may have some small effect, act on this:

Dear Ron,

It's no surprise that polls show our faith in Congress has fallen to near all-time lows. Our elected officials spend too much time rubbing shoulders with lobbyists and catering to the whims of special interests, all while our country is in serious economic trouble.

But they're not just wining and dining with fat cat corporate leaders and their hired guns. A 60 Minutes piece that aired this month (1) showed that members of Congress can use the non-public information that they have access to as part of their jobs to make investments and stock market moves. It's called political insider trading – and it ought to be a crime. Our representatives shouldn't be able to amass personal fortunes by trading on non-public knowledge that could affect the future price of stocks.

The STOCK (Stop Trading On Congressional Knowledge) Act, which has been introduced in both the House and Senate and has bipartisan support, would outlaw insider trading by members of Congress.

Tell your Representatives and Senators that you want to see this bill come up for a vote before they adjourn in December!

So why don't insider trading regulations apply to Congress today? Because under current law, insider trading is defined as the buying or selling of securities or commodities based on non-public information in violation of confidentiality – either to the issuing company or the source of information. Since Congressional officials do not owe a duty of confidentiality to these companies, they can't be held liable for insider trading. But they do owe a duty to us, their constituents.

It's not hard to imagine a situation where a member of Congress could know whether a piece of legislation, or even an amendment, will pass or fail -- and how that action could impact a particular company or even an entire industry. The temptation to use that information for personal gain could be tremendous.

That's why the STOCK Act (H.R.1148 / S.1871) is so crucial. It would make clear that Members of Congress -- and their staffers -- could not use non-public information gained on the job to make investments or trades for their own personal benefit.

The bill is scheduled for a hearing in the Senate Governmental Affairs Committee this Thursday.(2) That's a good first step, but we can't let it be the last step.

Tell Congress that the STOCK Act must come up for a vote before they adjourn for 2011.

Sincerely,

Bob Edgar
and the rest of the team at Common Cause

(1) Watch the 60 Minutes report.
(2) The hearing on Thursday, December 1 at 2:30pm will be live streamed. Mark your calendar with this link to watch.