The Plan?

[Enorah]

For those who are aware, awake, & conscious, I believe we are getting a bit of a respite now, so we can reevaluate what is important to us and then make it so.

Make it so

*heart*

[jpinpb]

This says it all:

“What this all means is that the statements by major banks, i.e. JPM, Citi, and BofA, regarding abnormal profitability in January and February were true, however these profits were 1) one-time in nature due to wholesale unwinds of AIG portfolios, 2) entirely at the expense of AIG, and thus taxpayers, 3) executed with Tim Geithner’s (and thus the administration’s) full knowledge and intent, 4) were basically a transfer of money from taxpayers to banks (in yet another form) using AIG as an intermediary.”

And also:

“For banks to proclaim their profitability in January and February is about as close to criminal hypocrisy as is possible. And again, the taxpayers fund this “one time profit”, which causes a market rally, thus allowing the banks to promptly turn around and start selling more expensive equity (soon coming to a prospectus near you), also funded by taxpayers’ money flows into the market. If the administration is truly aware of all these events (and if Zero Hedge knows about it, it is safe to say Tim Geithner also got the memo), then the potential fallout would be staggering once this information makes the light of day.”

[jpinpb]

This says it all:

“What this all means is that the statements by major banks, i.e. JPM, Citi, and BofA, regarding abnormal profitability in January and February were true, however these profits were 1) one-time in nature due to wholesale unwinds of AIG portfolios, 2) entirely at the expense of AIG, and thus taxpayers, 3) executed with Tim Geithner’s (and thus the administration’s) full knowledge and intent, 4) were basically a transfer of money from taxpayers to banks (in yet another form) using AIG as an intermediary.”

And also:

“For banks to proclaim their profitability in January and February is about as close to criminal hypocrisy as is possible. And again, the taxpayers fund this “one time profit”, which causes a market rally, thus allowing the banks to promptly turn around and start selling more expensive equity (soon coming to a prospectus near you), also funded by taxpayers’ money flows into the market. If the administration is truly aware of all these events (and if Zero Hedge knows about it, it is safe to say Tim Geithner also got the memo), then the potential fallout would be staggering once this information makes the light of day.”

[jpinpb]

This says it all:

“What this all means is that the statements by major banks, i.e. JPM, Citi, and BofA, regarding abnormal profitability in January and February were true, however these profits were 1) one-time in nature due to wholesale unwinds of AIG portfolios, 2) entirely at the expense of AIG, and thus taxpayers, 3) executed with Tim Geithner’s (and thus the administration’s) full knowledge and intent, 4) were basically a transfer of money from taxpayers to banks (in yet another form) using AIG as an intermediary.”

And also:

“For banks to proclaim their profitability in January and February is about as close to criminal hypocrisy as is possible. And again, the taxpayers fund this “one time profit”, which causes a market rally, thus allowing the banks to promptly turn around and start selling more expensive equity (soon coming to a prospectus near you), also funded by taxpayers’ money flows into the market. If the administration is truly aware of all these events (and if Zero Hedge knows about it, it is safe to say Tim Geithner also got the memo), then the potential fallout would be staggering once this information makes the light of day.”

[jpinpb]

This says it all:

“What this all means is that the statements by major banks, i.e. JPM, Citi, and BofA, regarding abnormal profitability in January and February were true, however these profits were 1) one-time in nature due to wholesale unwinds of AIG portfolios, 2) entirely at the expense of AIG, and thus taxpayers, 3) executed with Tim Geithner’s (and thus the administration’s) full knowledge and intent, 4) were basically a transfer of money from taxpayers to banks (in yet another form) using AIG as an intermediary.”

And also:

“For banks to proclaim their profitability in January and February is about as close to criminal hypocrisy as is possible. And again, the taxpayers fund this “one time profit”, which causes a market rally, thus allowing the banks to promptly turn around and start selling more expensive equity (soon coming to a prospectus near you), also funded by taxpayers’ money flows into the market. If the administration is truly aware of all these events (and if Zero Hedge knows about it, it is safe to say Tim Geithner also got the memo), then the potential fallout would be staggering once this information makes the light of day.”

[jpinpb]

This says it all:

“What this all means is that the statements by major banks, i.e. JPM, Citi, and BofA, regarding abnormal profitability in January and February were true, however these profits were 1) one-time in nature due to wholesale unwinds of AIG portfolios, 2) entirely at the expense of AIG, and thus taxpayers, 3) executed with Tim Geithner’s (and thus the administration’s) full knowledge and intent, 4) were basically a transfer of money from taxpayers to banks (in yet another form) using AIG as an intermediary.”

And also:

“For banks to proclaim their profitability in January and February is about as close to criminal hypocrisy as is possible. And again, the taxpayers fund this “one time profit”, which causes a market rally, thus allowing the banks to promptly turn around and start selling more expensive equity (soon coming to a prospectus near you), also funded by taxpayers’ money flows into the market. If the administration is truly aware of all these events (and if Zero Hedge knows about it, it is safe to say Tim Geithner also got the memo), then the potential fallout would be staggering once this information makes the light of day.”

[jpinpb]

I guess really it’s all about the end result. If all their tricks manage to keep the economy going, then it’s deemed a success, no matter how short lived the propping up is. They’ll just keep throwing stuff at the wall until something sticks. If it sticks even for a little bit and there’s any kind of rally, then cheers!

[jpinpb]

I guess really it’s all about the end result. If all their tricks manage to keep the economy going, then it’s deemed a success, no matter how short lived the propping up is. They’ll just keep throwing stuff at the wall until something sticks. If it sticks even for a little bit and there’s any kind of rally, then cheers!

[jpinpb]

I guess really it’s all about the end result. If all their tricks manage to keep the economy going, then it’s deemed a success, no matter how short lived the propping up is. They’ll just keep throwing stuff at the wall until something sticks. If it sticks even for a little bit and there’s any kind of rally, then cheers!

[jpinpb]

I guess really it’s all about the end result. If all their tricks manage to keep the economy going, then it’s deemed a success, no matter how short lived the propping up is. They’ll just keep throwing stuff at the wall until something sticks. If it sticks even for a little bit and there’s any kind of rally, then cheers!

[jpinpb]

I guess really it’s all about the end result. If all their tricks manage to keep the economy going, then it’s deemed a success, no matter how short lived the propping up is. They’ll just keep throwing stuff at the wall until something sticks. If it sticks even for a little bit and there’s any kind of rally, then cheers!

[partypup]

[quote=TheBreeze]I think the government does have a plan to ‘resurrect’ the economy, but it does not involve reform, change, or anything that would disrupt the financial oligarchy’s stranglehold on money and power. Instead, I think the government’s plan is to gun the markets, distract the people with sideshows (firing of GM CEO), all the while offloading the tons of bad loans to taxpayers. I agree with Mish that this plan is doomed to fail.

The first part of the plan involved using AIG as a conduit of taxpayer dollars straight to the banks:

Guest Post: The Banks Were Profitable In January And February Thanks To… AIG

Here’s the really amazing/frightening/unbelievable part of the above article:

During Jan/Feb AIG would call up and just ask for complete unwind prices from the credit desk in the relevant jurisdiction. These were not single deal unwinds as are typically more price transparent – these were whole portfolio unwinds. The size of these unwinds were enormous, the quotes I have heard were “we have never done as big or as profitable trades – ever”.

So the government purposely directed AIG to massively overpay the banks on their CDS contracts in January and February. These huge payouts which came straight from taxpayers through AIG to the banks allowed the banks to say they were profitable:

http://optionarmageddon.ml-implode.com/2009/03/27/the-ultimate-bait-switch/

As the news of the banks ‘profits’ started to seep out, the market started going up. This was around early March.

At the end of March (March 29th), Zero Hedge posted the reason for the banks ‘profitability’ (i.e., the massive taxpayer payouts through AIG). The next day, March 30th, Obama asked the GM CEO Wagoner to step down:

http://www.politico.com/news/stories/0309/20625.html

Coincidence? I think not. This was to distract the bloggers from the massive taxpayer theft that occurred through AIG. It certainly seemed to work on this blog as so many were captivated by Obama’s actions.

Now we have the next part of the plan: obfuscation of the bank’s asset values through suspension of mark-to-market.

http://www.marketwatch.com/news/story/FASB-approves-more-mark-market/story.aspx?guid={33F70684-4207-4EDD-B7C3-1B82B7A7F6B6}

Along with this, you will see the pundits come out and recommend buying the banks. Cramer had an article out this morning saying that Citigroup has to be bought off this news.

By the way, Japan suspended mark-to-market in 1992 when the Nikkei was around 15K. It’s difficult to tell, but it looks like this may have sparked a rally to 20K:

http://en.wikipedia.org/wiki/File:Nikkei_225(1970-).svg

However, I think today the Nikkei is around 9K or so.

In any event, I believe the governmet does have a plan. The plan is to help the financial oligarchy maintain power at all costs:

http://www.theatlantic.com/doc/200905/imf-advice

To me, it looks like we are in for a extended decline down (with stock market bumps along the way caused by tricks like those above). The only way to stop it will be to unhinge the oligarchy’s death grip on money and power.

[/quote]

Excellent post, Breezy. We are now witnessing the most elaborate use of smoke and mirrors in history. The recent market activity is a massive set-up, and most sheeple – those who are unfortunately still captivated by Obama (and I’m SO happy to see that you are no longer one of them!) – will believe that we have hit a bottom and that this “rally” has legs. I got an email from Michael Moore this week, nearly orgasmic in its praise of Obama and the Waggoner pink slip. He ended with this comment: “I can’t wait to see Obama’s next superhero move.” Co-opt the Left, co-opt blacks, and all you have to worry about are old people, yuppies and Bubbas. Shrewd move by TPTB.

You know what this reminds me of? The moment in a tsunami when the ocean is sucked out about half a mile or so. There’s a strange silence, a stillness; a sense that nothing is “wrong”, even though things clearly don’t feel “right”.

And then the wave hits before you can run. I firmly believe that this summer the foundation will start to give in a MAJOR way, and it will be clear to everyone that all the king’s horses and all the king’s men won’t be able to put Humpty Dumpty back together again.

[quote=TheBreeze]The only way to stop it will be to unhinge the oligarchy’s death grip on money and power.
[/quote]

Bingo. So how are we going to accomplish that? THIS is the real question that needs to be addressed globally, because this is clearly no longer an “American” problem. The oligarchs are making a power grab worldwide, and Obama is one of their 20 or so grinning fools/tools.

[partypup]

[quote=TheBreeze]I think the government does have a plan to ‘resurrect’ the economy, but it does not involve reform, change, or anything that would disrupt the financial oligarchy’s stranglehold on money and power. Instead, I think the government’s plan is to gun the markets, distract the people with sideshows (firing of GM CEO), all the while offloading the tons of bad loans to taxpayers. I agree with Mish that this plan is doomed to fail.

The first part of the plan involved using AIG as a conduit of taxpayer dollars straight to the banks:

Guest Post: The Banks Were Profitable In January And February Thanks To… AIG

Here’s the really amazing/frightening/unbelievable part of the above article:

During Jan/Feb AIG would call up and just ask for complete unwind prices from the credit desk in the relevant jurisdiction. These were not single deal unwinds as are typically more price transparent – these were whole portfolio unwinds. The size of these unwinds were enormous, the quotes I have heard were “we have never done as big or as profitable trades – ever”.

So the government purposely directed AIG to massively overpay the banks on their CDS contracts in January and February. These huge payouts which came straight from taxpayers through AIG to the banks allowed the banks to say they were profitable:

http://optionarmageddon.ml-implode.com/2009/03/27/the-ultimate-bait-switch/

As the news of the banks ‘profits’ started to seep out, the market started going up. This was around early March.

At the end of March (March 29th), Zero Hedge posted the reason for the banks ‘profitability’ (i.e., the massive taxpayer payouts through AIG). The next day, March 30th, Obama asked the GM CEO Wagoner to step down:

http://www.politico.com/news/stories/0309/20625.html

Coincidence? I think not. This was to distract the bloggers from the massive taxpayer theft that occurred through AIG. It certainly seemed to work on this blog as so many were captivated by Obama’s actions.

Now we have the next part of the plan: obfuscation of the bank’s asset values through suspension of mark-to-market.

http://www.marketwatch.com/news/story/FASB-approves-more-mark-market/story.aspx?guid={33F70684-4207-4EDD-B7C3-1B82B7A7F6B6}

Along with this, you will see the pundits come out and recommend buying the banks. Cramer had an article out this morning saying that Citigroup has to be bought off this news.

By the way, Japan suspended mark-to-market in 1992 when the Nikkei was around 15K. It’s difficult to tell, but it looks like this may have sparked a rally to 20K:

http://en.wikipedia.org/wiki/File:Nikkei_225(1970-).svg

However, I think today the Nikkei is around 9K or so.

In any event, I believe the governmet does have a plan. The plan is to help the financial oligarchy maintain power at all costs:

http://www.theatlantic.com/doc/200905/imf-advice

To me, it looks like we are in for a extended decline down (with stock market bumps along the way caused by tricks like those above). The only way to stop it will be to unhinge the oligarchy’s death grip on money and power.

[/quote]

Excellent post, Breezy. We are now witnessing the most elaborate use of smoke and mirrors in history. The recent market activity is a massive set-up, and most sheeple – those who are unfortunately still captivated by Obama (and I’m SO happy to see that you are no longer one of them!) – will believe that we have hit a bottom and that this “rally” has legs. I got an email from Michael Moore this week, nearly orgasmic in its praise of Obama and the Waggoner pink slip. He ended with this comment: “I can’t wait to see Obama’s next superhero move.” Co-opt the Left, co-opt blacks, and all you have to worry about are old people, yuppies and Bubbas. Shrewd move by TPTB.

You know what this reminds me of? The moment in a tsunami when the ocean is sucked out about half a mile or so. There’s a strange silence, a stillness; a sense that nothing is “wrong”, even though things clearly don’t feel “right”.

And then the wave hits before you can run. I firmly believe that this summer the foundation will start to give in a MAJOR way, and it will be clear to everyone that all the king’s horses and all the king’s men won’t be able to put Humpty Dumpty back together again.

[quote=TheBreeze]The only way to stop it will be to unhinge the oligarchy’s death grip on money and power.
[/quote]

Bingo. So how are we going to accomplish that? THIS is the real question that needs to be addressed globally, because this is clearly no longer an “American” problem. The oligarchs are making a power grab worldwide, and Obama is one of their 20 or so grinning fools/tools.

[partypup]

[quote=TheBreeze]I think the government does have a plan to ‘resurrect’ the economy, but it does not involve reform, change, or anything that would disrupt the financial oligarchy’s stranglehold on money and power. Instead, I think the government’s plan is to gun the markets, distract the people with sideshows (firing of GM CEO), all the while offloading the tons of bad loans to taxpayers. I agree with Mish that this plan is doomed to fail.

The first part of the plan involved using AIG as a conduit of taxpayer dollars straight to the banks:

Guest Post: The Banks Were Profitable In January And February Thanks To… AIG

Here’s the really amazing/frightening/unbelievable part of the above article:

During Jan/Feb AIG would call up and just ask for complete unwind prices from the credit desk in the relevant jurisdiction. These were not single deal unwinds as are typically more price transparent – these were whole portfolio unwinds. The size of these unwinds were enormous, the quotes I have heard were “we have never done as big or as profitable trades – ever”.

So the government purposely directed AIG to massively overpay the banks on their CDS contracts in January and February. These huge payouts which came straight from taxpayers through AIG to the banks allowed the banks to say they were profitable:

http://optionarmageddon.ml-implode.com/2009/03/27/the-ultimate-bait-switch/

As the news of the banks ‘profits’ started to seep out, the market started going up. This was around early March.

At the end of March (March 29th), Zero Hedge posted the reason for the banks ‘profitability’ (i.e., the massive taxpayer payouts through AIG). The next day, March 30th, Obama asked the GM CEO Wagoner to step down:

http://www.politico.com/news/stories/0309/20625.html

Coincidence? I think not. This was to distract the bloggers from the massive taxpayer theft that occurred through AIG. It certainly seemed to work on this blog as so many were captivated by Obama’s actions.

Now we have the next part of the plan: obfuscation of the bank’s asset values through suspension of mark-to-market.

http://www.marketwatch.com/news/story/FASB-approves-more-mark-market/story.aspx?guid={33F70684-4207-4EDD-B7C3-1B82B7A7F6B6}

Along with this, you will see the pundits come out and recommend buying the banks. Cramer had an article out this morning saying that Citigroup has to be bought off this news.

By the way, Japan suspended mark-to-market in 1992 when the Nikkei was around 15K. It’s difficult to tell, but it looks like this may have sparked a rally to 20K:

http://en.wikipedia.org/wiki/File:Nikkei_225(1970-).svg

However, I think today the Nikkei is around 9K or so.

In any event, I believe the governmet does have a plan. The plan is to help the financial oligarchy maintain power at all costs:

http://www.theatlantic.com/doc/200905/imf-advice

To me, it looks like we are in for a extended decline down (with stock market bumps along the way caused by tricks like those above). The only way to stop it will be to unhinge the oligarchy’s death grip on money and power.

[/quote]

Excellent post, Breezy. We are now witnessing the most elaborate use of smoke and mirrors in history. The recent market activity is a massive set-up, and most sheeple – those who are unfortunately still captivated by Obama (and I’m SO happy to see that you are no longer one of them!) – will believe that we have hit a bottom and that this “rally” has legs. I got an email from Michael Moore this week, nearly orgasmic in its praise of Obama and the Waggoner pink slip. He ended with this comment: “I can’t wait to see Obama’s next superhero move.” Co-opt the Left, co-opt blacks, and all you have to worry about are old people, yuppies and Bubbas. Shrewd move by TPTB.

You know what this reminds me of? The moment in a tsunami when the ocean is sucked out about half a mile or so. There’s a strange silence, a stillness; a sense that nothing is “wrong”, even though things clearly don’t feel “right”.

And then the wave hits before you can run. I firmly believe that this summer the foundation will start to give in a MAJOR way, and it will be clear to everyone that all the king’s horses and all the king’s men won’t be able to put Humpty Dumpty back together again.

[quote=TheBreeze]The only way to stop it will be to unhinge the oligarchy’s death grip on money and power.
[/quote]

Bingo. So how are we going to accomplish that? THIS is the real question that needs to be addressed globally, because this is clearly no longer an “American” problem. The oligarchs are making a power grab worldwide, and Obama is one of their 20 or so grinning fools/tools.

[partypup]

[quote=TheBreeze]I think the government does have a plan to ‘resurrect’ the economy, but it does not involve reform, change, or anything that would disrupt the financial oligarchy’s stranglehold on money and power. Instead, I think the government’s plan is to gun the markets, distract the people with sideshows (firing of GM CEO), all the while offloading the tons of bad loans to taxpayers. I agree with Mish that this plan is doomed to fail.

The first part of the plan involved using AIG as a conduit of taxpayer dollars straight to the banks:

Guest Post: The Banks Were Profitable In January And February Thanks To… AIG

Here’s the really amazing/frightening/unbelievable part of the above article:

During Jan/Feb AIG would call up and just ask for complete unwind prices from the credit desk in the relevant jurisdiction. These were not single deal unwinds as are typically more price transparent – these were whole portfolio unwinds. The size of these unwinds were enormous, the quotes I have heard were “we have never done as big or as profitable trades – ever”.

So the government purposely directed AIG to massively overpay the banks on their CDS contracts in January and February. These huge payouts which came straight from taxpayers through AIG to the banks allowed the banks to say they were profitable:

http://optionarmageddon.ml-implode.com/2009/03/27/the-ultimate-bait-switch/

As the news of the banks ‘profits’ started to seep out, the market started going up. This was around early March.

At the end of March (March 29th), Zero Hedge posted the reason for the banks ‘profitability’ (i.e., the massive taxpayer payouts through AIG). The next day, March 30th, Obama asked the GM CEO Wagoner to step down:

http://www.politico.com/news/stories/0309/20625.html

Coincidence? I think not. This was to distract the bloggers from the massive taxpayer theft that occurred through AIG. It certainly seemed to work on this blog as so many were captivated by Obama’s actions.

Now we have the next part of the plan: obfuscation of the bank’s asset values through suspension of mark-to-market.

http://www.marketwatch.com/news/story/FASB-approves-more-mark-market/story.aspx?guid={33F70684-4207-4EDD-B7C3-1B82B7A7F6B6}

Along with this, you will see the pundits come out and recommend buying the banks. Cramer had an article out this morning saying that Citigroup has to be bought off this news.

By the way, Japan suspended mark-to-market in 1992 when the Nikkei was around 15K. It’s difficult to tell, but it looks like this may have sparked a rally to 20K:

http://en.wikipedia.org/wiki/File:Nikkei_225(1970-).svg

However, I think today the Nikkei is around 9K or so.

In any event, I believe the governmet does have a plan. The plan is to help the financial oligarchy maintain power at all costs:

http://www.theatlantic.com/doc/200905/imf-advice

To me, it looks like we are in for a extended decline down (with stock market bumps along the way caused by tricks like those above). The only way to stop it will be to unhinge the oligarchy’s death grip on money and power.

[/quote]

Excellent post, Breezy. We are now witnessing the most elaborate use of smoke and mirrors in history. The recent market activity is a massive set-up, and most sheeple – those who are unfortunately still captivated by Obama (and I’m SO happy to see that you are no longer one of them!) – will believe that we have hit a bottom and that this “rally” has legs. I got an email from Michael Moore this week, nearly orgasmic in its praise of Obama and the Waggoner pink slip. He ended with this comment: “I can’t wait to see Obama’s next superhero move.” Co-opt the Left, co-opt blacks, and all you have to worry about are old people, yuppies and Bubbas. Shrewd move by TPTB.

You know what this reminds me of? The moment in a tsunami when the ocean is sucked out about half a mile or so. There’s a strange silence, a stillness; a sense that nothing is “wrong”, even though things clearly don’t feel “right”.

And then the wave hits before you can run. I firmly believe that this summer the foundation will start to give in a MAJOR way, and it will be clear to everyone that all the king’s horses and all the king’s men won’t be able to put Humpty Dumpty back together again.

[quote=TheBreeze]The only way to stop it will be to unhinge the oligarchy’s death grip on money and power.
[/quote]

Bingo. So how are we going to accomplish that? THIS is the real question that needs to be addressed globally, because this is clearly no longer an “American” problem. The oligarchs are making a power grab worldwide, and Obama is one of their 20 or so grinning fools/tools.

[Author]

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