FLASH: AIG Called CRIMINAL SCAM

Karl Denninger..today..
"FLASH: AIG Called CRIMINAL SCAM"

This isn't MY analysis, this is the analysis of Institutional Risk Analytics. If you don't understand who they are, you should - they're one of the most-respected groups out there when it comes to banking system analysis. If they're willing to print something this damning....

Seen in this context, the payments made to AIG by the Fed and Treasury, which were then passed-through to dealers such as Goldman Sachs (NYSE:GS), can only be viewed as an illegal taking that must be reversed once the US Trustee for the Federal Bankruptcy Court for the Southern District of New York is in control of AIG’s operations.

These were not valid contracts as Fed Chairman Ben Bernanke, Treasury Secretary Geithner and Economic policy guru Larry Summers claim, but rather acts of criminal fraud meant to manipulate the capital positions and earnings of financial companies around the world.

Thank you Timmy, thank you Ben Bernanke, thank you Henry Paulson, thank you George Bush and thank you President Obama.

If this is true every one of you needs to go to prison.

Karl's site:
market-ticker.org...!.html


(Credit Barry Ritholtz and Institutional Risk Analytics, the original source)
www.ritholtz.com...


[edit on 2-4-2009 by MissysWorld]

reply to post by MissysWorld


I agree that AIG is criminal in this. So is congress and the former president and president 0. This is a scam and they are still pulling it on us.

This administration is grabbing more and more authority to run private business. Yet they seem to shirk any responsibility for failed actions.

Only our government can have all the authority over the people and no responsibility to the people. Where is our "of the people,by the people and for the people" government?

Pure words of philosphy, scholary, and music to my ears..because its true. KUdos, it truely couldnt have been said any better. pigvomits perhaps?

Here's another story on it...
www.businessinsider.com...

And yet another story on how AIG is a SCAM..
www.sovereignsociety.com...

Their defense will be it was in the interest of national security....and then everyone will go back to sleep.....i mean heck i read that Jp morgan can legally issue false statment's per some bush law passed a couple years back......

I would love to hear Ben Bernanke in JAIL pleading how this moral hazard was justified as the fellas do to him what he has been doing to the public (hint; bending over).......same thing goes for Rubin, Paulson, Geithner...we could have a ballot and vote to see who get's similiar treatment ( i would actually wait in line for this)

this would be fitting and surely a deterent compared with golden parachutes ...as far as ....(bush./obama ..ehh i don't think they masterminded anything....they are/were puppet presidents if there ever have been any)

seriously though....this is very encouraging....we need more respected people to stand up to this Financial Oligarchy and it's insestious relationship with the U.S govt (esp. treasury dept) and it's intimidation and donations to congress.........we need the "5%'ers" to raise serious hell and throw ....courtesy out the window..

[edit on 2-4-2009 by cpdaman]

blimey !! AIG + FED = bunch of criminals plain & simple, just hope that somehow this gets picked up properly & dealt with appropriately, the scam gets exposed & the culprits off to jail...

..I can hope can't I?

Good spot & thanks for posting; S&F

reply to post by moobaawoof


I don't deny that what is going on with AIG is criminal, but anything that has Karl Denninger's name attached to it is a bunch of nonsense.

The guy is a quack and has proved it over and over again.

He does nothing but promote fear and sensationalize for his own publicity. See thread on him GUARANTEEING that all banks were failing and world war III being "imminent" from last fall. The guy is nuts.

[edit on 3-4-2009 by slicely]

[edit on 3-4-2009 by slicely]

Originally posted by daddyroo45
reply to post by MissysWorld

 

I agree that AIG is criminal in this. So is congress and the former president and president 0. This is a scam and they are still pulling it on us.

This administration is grabbing more and more authority to run private business. Yet they seem to shirk any responsibility for failed actions.

Only our government can have all the authority over the people and no responsibility to the people. Where is our "of the people,by the people and for the people" government?

That government is there, they are doing the will of the 63% of the sheep out there. Because they are only doing what the popular president wants them to.
I bet more than 85% of the people don't have a clue what's in the Constitution.
This whole mess is an educational and attitudinal problem of the people.
I don't know squat, but I want more free sh!t.






[edit on 3-4-2009 by j2000]

You know what aggrivates me so much to the bone?

I'm coming up on having to pay taxes (I received some unemployment benefits last year) and it's going to break my income severely.

I struggle and have to pay taxes on an amount of money that is LESS than ONE percent of what they didn't report to the IRS and it almost puts me at ground zero.

I keep reading about these people and executives that need 75,000$ a week to survive. That's more than most people that post on these forums probably make in a year.

I don't even get angry when I hear bailouts anymore, or fraud or this company doing this and that.

It's so far gone I don't think there's hope to come back out. Until we get people in charge of corporations and goverment that actually know what integrity means it wont change.

I'll just going about my business day to day and just make sure to stock up on KY so I can keep myself lubed for the reaming that gets worse every week.

Scams are everywhere where large money amounts flow.
I am utterly shocked by top managers salaries : Novartis' director receives 35 Million $ a year. That's 673,000 dollars a week. A Google-translated page about this :
translate.google.ch...

Many bank managers have the same privileges : on its last year, former swiss UBS manager received 23 million dollars. That's 442,000 dollars a week.

Such banks realize net incomes of around 8 Billion dollars every year.
Where does this money go ?
Well, just compare the inner workings of those banks, insurances companies and such : they're all based on a "pyramid" game. The well-known pyramid scheme.
en.wikipedia.org...

In the entire world, this type of game is simply illegal, even in the USA.
Those people and their "organisations" are legalised, government-backed scam organizations, running a lot of legitimate operations, but also hijacking ENORMOUS amounts from the people's pockets.

673000 dollars a week. That's also 747 times the lowest salary found in such a company.
If you consider an average 200 time's a normal salary, just do the maths :
if you redistribute the salaries of the top 100 people of those, say, 1000 companies around the world, EVERYONE's job on this trashed planet would have been saved... every YEAR !!!

I can't even believe my own maths, please correct me, it's frightening.

"To big to fail" Ha!!! this sh*t is to big to stop. So why try? Revolution, are you nuts....what revolution when the whole f**king world is full of brain dead zombies. Only one way out and that is up towards a "better way". Humaity will NOT orchistrate this exit and words will NOT change anything. He roars as a lion for he knows his time is short. Trying to restructure this global F..ing mess is hopeless. Surely one could see this but they are blinded by incredialble deception and have ears that do not hear. Spiritual, maybe but "hell to pay" for sure.

I think, maybe if our future turns around, our descendants will look back and note that for a period of time, our Federal Government began to suffer the fate of many large governments with entrenched 'membership.'

There is a tendency for the elite to have a sense of 'entitlement' which makes them disregard their commitment to serve, instead attempting to 'lead', even when they are incapable of doing so.

It's not that they haven't the ability to lead, it's just they refuse to recognize that they have no such mandate.

We 'entrust' them with authority, yet they posture themselves as if they 'earned' it. Rather than being a great responsibility and an honor to serve the public, they seem to feel it's a grandiose 'answering the call' where none could fill their shoes. It's akin to thinking you are irreplaceable and essential at work, only to find out when you quit, that they don't even really need to replace you.

So it is with political careerists. They must dedicate themselves so diligently to showing the public how much we need them, that they start to believe it themselves.

Back in the olden day, for example Abraham Lincoln's time, there were a total of nine elected representatives in office who were attorneys. NOW they are - I think - almost ALL attorney's. They claim the issues they deal with are enormously complex and utterly impenetrable in scope by the 'common' layperson.

In reality, the problems are so monumental simply because THEY can't deal with them AND serve their special interest pals, you know, the one's who will hire them a ghost writer, employ them in public speaking engagements, and use their social network for lobbying when their careers in politics are over.

AIG is nothing more than a reflection of the Federal Government. It is exemplary of what they have done, consistently for that last century or so. The Federal government has neatly destroyed our social security system, decimated most government practices initiated to support the citizenry, utterly ruined our educational system, and now, they are demanding control of the financial reigns... despite the fact that these government 'experts' all came from the financial world, and were intimately involved in enabling this scam, and supported it, until the numbers just wouldn't work anymore.

They have allowed the taxpayers to be fleeced while invoking the new political absolution "No one could have seen this coming."

We here, and in other places where people exchange ideas freely, knew what was happening, endured the name-calling and nay-saying; until we were regrettably vindicated. None of us WANTED to be right.

I contend that if AIG is actually a criminal scam, then so is the Fed, the IRS, the World Trade Organization, the International Settlement Bank, The Vatican Bank, the Royal Banks of England, The Swiss Banking establishment, et. al.

If AIG can be indited, then so should the Department of Treasury, the Securities and Exchange Commission, and so on, and so on.

DO you think any politicians looking for the financial means to run for office could succeed on that platform? I think not.

Sorry if I strayed off topic there... it's been a long week for me!

[edit on 3-4-2009 by Maxmars]