Posts Tagged ‘JP Morgan’

Posted from:

commonly known as mark of the house of keen YouTube Channel

Published on Jan 20, 2014

Warning — Mirrored

This video is not owned by us, we are merely sharing or mirroring this video to help promote the creators view to a greater audience.

We do not monetize any mirrored videos and only have the intent to educate and inform whatever we deem worthy of sharing to others.

We have absolutely no expectation of PRIVACY in any way over a PUBLIC website, therefore we have no claim to anything we have chosen to share or mirror, it is a shame that others still do.

The more mankind wakes up to what’s going on around them the better.

Enjoy, Share, Like, Subscribe, your choice to spread the knowledge!

Legal Disclaimer;

The Information and/or knowledge contained in this video is for guidance and education only.

While we are aware of common law, we are in no way functioning in a commercial / legal capacity. The knowledge and/or information in this video are offered as an opinion only and are not a substitute for using your own brain and logic or doing your own research..

The intent of this video is to help promote knowledge to all mankind and to cause no harm, loss or fraud to anyone.

For appropriate PRIVATE LEGAL advice ‘you’ should contact or contract a PRIVATE LEGAL professional who is fluent in legalese and a member of ‘your’ PRIVATE LEGAL SOCIETY, a member of the PRIVATE LEGAL society with the correct jurisdiction and LEGAL authority over ‘your’ LEGAL and NATURAL PERSONs’.

Legal Disclaimer;

The Information and/or knowledge contained in this video is for guidance and education only.

While we are aware of statutory legislation we are in no way legal professionals, the knowledge and/or information in this video are offered as an opinion only and are not a substitute for PRIVATE professional LEGAL advice.

The intent of this video is to help promote knowledge to all mankind and to cause no harm, loss or fraud to anyone.

For appropriate PRIVATE LEGAL advice ‘you’ should contact or contract a PRIVATE LEGAL professional who is fluent in legalese and a member of ‘your’ PRIVATE LEGAL SOCIETY, a member of the PRIVATE LEGAL society with the correct jurisdiction and LEGAL authority over ‘your’ LEGAL PERSON.

All rights as man reserved without prejudice.

COPYRIGHT DISCLAIMER

UNDER SECTION 107 OF THE COPYRIGHT ACT 1976, ALLOWANCE IS MADE FOR “FAIR USE” FOR PURPOSES SUCH AS CRITISICM, COMMENT, NEWS REPORTING, TEACHING, SCHOLARSHIP AND RESEARCH. FAIR USE IS A USE PERMITTED BY COPYRIGHT STATUTE THAT MIGHT OTHERWISE BE INFRINGING. NON-PROFIT,EDUCATIONAL OR PERSONAL USE TIP THE BALANCE IN FAVOR OF FAIR USE.

DO NOT WATCH THIS CLIP

IF YOU RELY ON A PRIVATE LEGAL SYSTEM TO GIVE YOUR LIFE A FALSE SENSE OF SECURITY AND MEANING!

THE INFORMATION PRESENTED IN THIS CLIP IS POTENTIALLY UPSETTING BUT MUST BE WATCHED WITH AN OPEN MIND.

UNLESS YOU ARE WILLING TO PUT EVERYTHING YOU THINK YOU KNOW TEMPORARILLY ON HOLD, AND OPEN UP TO THE POSSIBILITY THAT YOU MAY ACTUALLY BE A MEMBER OF MANKIND LIVING IN THE REAL WORLD AS MAN, WITH EACH MAN AND WOMAN HAVING THE ABILITIES TO CREATE, REASON, PRODUCE AND LABOUR, USING LOGIC AND KNOWLEDGE AS GUIDANCE, THEN THIS CLIP IS NOT FOR YOU.

———————————————-

http://beforeitsnews.com/alternative/2014/01/bankers-arrested-in-iceland-ireland-uk-usa-switzerland-india-france-russia-austria-video-2879054.html

———————————————-

You are the bank

Posted from:

http://m.vice.com/en_uk/read/larry-summers-and-the-secret-end-game-memo

The Confidential Memo at the Heart of the Global Financial Crisis
Greg Palast’s Column

By Greg Palast

When a little birdie dropped the End Game memo through my window, its content was so explosive, so sick and plain evil, I just couldn’t believe it.

The Memo confirmed every conspiracy freak’s fantasy: that in the late 1990s, the top US Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet. When you see 26.3 percent unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears.

The Treasury official playing the bankers’ secret End Game was Larry Summers. Today, Summers is Barack Obama’s leading choice for Chairman of the US Federal Reserve, the world’s central bank. If the confidential memo is authentic, then Summers shouldn’t be serving on the Fed, he should be serving hard time in some dungeon reserved for the criminally insane of the finance world.

The memo is authentic.

I had to fly to Geneva to get confirmation and wangle a meeting with the Secretary General of the World Trade Organisation, Pascal Lamy. Lamy, the Generalissimo of Globalisation, told me,

“The WTO was not created as some dark cabal of multinationals secretly cooking plots against the people… We don’t have cigar-smoking, rich, crazy bankers negotiating.”

Then I showed him the memo.

It begins with Larry Summers’ flunky, Timothy Geithner, reminding his boss to call the Bank bigshots to order their lobbyist armies to march:

“As we enter the end-game of the WTO financial services negotiations, I believe it would be a good idea for you to touch base with the CEOs…”

To avoid Summers having to call his office to get the phone numbers (which, under US law, would have to appear on public logs), Geithner listed the private lines of what were then the five most powerful CEOs on the planet. And here they are:

Goldman Sachs: John Corzine (212)902-8281

Merrill Lynch: David Kamanski (212)449-6868

Bank of America: David Coulter (415)622-2255

Citibank: John Reed (212)559-2732

Chase Manhattan: Walter Shipley (212)270-1380

Lamy was right: They don’t smoke cigars. Go ahead and dial them. I did, and sure enough, got a cheery personal hello from Reed – cheery until I revealed I wasn’t Larry Summers. (Note: The other numbers were swiftly disconnected. And Corzine can’t be reached while he faces criminal charges.)

It’s not the little cabal of confabs held by Summers and the banksters that’s so troubling. The horror is in the purpose of the “end game” itself.

Let me explain:

The year was 1997. US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks. That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial banks and investment banks. It was like replacing bank vaults with roulette wheels.

Second, the banks wanted the right to play a new high-risk game: “derivatives trading”. JP Morgan alone would soon carry $88 trillion of these pseudo-securities on its books as “assets”.

Deputy Treasury Secretary Summers (soon to replace Rubin as Secretary) body-blocked any attempt to control derivatives.

But what was the use of turning US banks into derivatives casinos if money would flee to nations with safer banking laws?

The answer conceived by the Big Bank Five: eliminate controls on banks in every nation on the planet — in one single move. It was as brilliant as it was insanely dangerous.

How could they pull off this mad caper? The bankers’ and Summers’ game was to use the Financial Services Agreement (or FSA), an abstruse and benign addendum to the international trade agreements policed by the World Trade Organisation.

Until the bankers began their play, the WTO agreements dealt simply with trade in goods – that is, my cars for your bananas. The new rules devised by Summers and the banks would force all nations to accept trade in “bads” – toxic assets like financial derivatives.

Until the bankers’ re-draft of the FSA, each nation controlled and chartered the banks within their own borders. The new rules of the game would force every nation to open their markets to Citibank, JP Morgan and their derivatives “products”.

And all 156 nations in the WTO would have to smash down their own Glass-Steagall divisions between commercial savings banks and the investment banks that gamble with derivatives.

The job of turning the FSA into the bankers’ battering ram was given to Geithner, who was named Ambassador to the World Trade Organisation.

Bankers Go Bananas

Why in the world would any nation agree to let its banking system be boarded and seized by financial pirates like JP Morgan?

The answer, in the case of Ecuador, was bananas. Ecuador was truly a banana republic. The yellow fruit was that nation’s life-and-death source of hard currency. If it refused to sign the new FSA, Ecuador could feed its bananas to the monkeys and go back into bankruptcy. Ecuador signed.

And so on – with every single nation bullied into signing.

Every nation but one, I should say. Brazil’s new President, Inacio Lula da Silva, refused. In retaliation, Brazil was threatened with a virtual embargo of its products by the European Union’s Trade Commissioner, one Peter Mandelson, according to another confidential memo I got my hands on. But Lula’s refusenik stance paid off for Brazil which, alone among Western nations, survived and thrived during the 2007-9 bank crisis.

China signed – but got its pound of flesh in return. It opened its banking sector a crack in return for access and control of the US auto parts and other markets. (Swiftly, two million US jobs shifted to China.)

The new FSA pulled the lid off the Pandora’s box of worldwide derivatives trade. Among the notorious transactions legalised: Goldman Sachs (where Treasury Secretary Rubin had been co-chairman) worked a secret euro-derivatives swap with Greece which, ultimately, destroyed that nation. Ecuador, its own banking sector de-regulated and demolished, exploded into riots. Argentina had to sell off its oil companies (to the Spanish) and water systems (to Enron) while its teachers hunted for food in garbage cans. Then, Bankers Gone Wild in the Eurozone dove head-first into derivatives pools without knowing how to swim – and the continent is now being sold off in tiny, cheap pieces to Germany.

Of course, it was not just threats that sold the FSA, but temptation as well. After all, every evil starts with one bite of an apple offered by a snake. The apple: the gleaming piles of lucre hidden in the FSA for local elites. The snake was named Larry.

Does all this evil and pain flow from a single memo? Of course not: the evil was The Game itself, as played by the banker clique. The memo only revealed their game-plan for checkmate.

And the memo reveals a lot about Summers and Obama.

While billions of sorry souls are still hurting from worldwide banker-made disaster, Rubin and Summers didn’t do too badly. Rubin’s deregulation of banks had permitted the creation of a financial monstrosity called “Citigroup”. Within weeks of leaving office, Rubin was named director, then Chairman of Citigroup – which went bankrupt while managing to pay Rubin a total of $126 million.

Then Rubin took on another post: as key campaign benefactor to a young State Senator, Barack Obama. Only days after his election as President, Obama, at Rubin’s insistence, gave Summers the odd post of US “Economics Tsar” and made Geithner his Tsarina (that is, Secretary of Treasury). In 2010, Summers gave up his royalist robes to return to “consulting” for Citibank and other creatures of bank deregulation whose payments have raised Summers’ net worth by $31 million since the “end-game” memo.

That Obama would, at Robert Rubin’s demand, now choose Summers to run the Federal Reserve Board means that, unfortunately, we are far from the end of the game.

Special thanks to expert Mary Bottari of Bankster USA http://www.BanksterUSA.org without whom our investigation could not have begun.

The film of my meeting with WTO chief Lamy was originally created for Ring of Fire, hosted by Mike Papantonio and Robert F. Kennedy Jr.

Further discussion of the documents I laid before Lamy can be found in “The Generalissimo of Globalization,” Chapter 12 of Vultures’ Picnic by Greg Palast (Constable Robinson 2012).

Follow Greg on Twitter: @Greg_Palast

Several Big Banks Forge Mortgage Documents, New Unsealed Documents Show

Posted on August 21, 2013
by Joshua De Leon •

http://www.ringoffireradio.com/2013/08/several-big-banks-forge-mortgage-documents-new-unsealed-documents-show/

Last year, some Wall Street banks settled in a fraud lawsuit for $95 million, filed by Florida resident and white-collar fraud specialist, Lynn Szymoniak. The lawsuit named 28 “banks, mortgage servicers and document processing companies,” and was filed in federal courts in North and South Carolina.

The scam consisted of the banks drawing up fake mortgage documents “because they could not legally establish true ownership of the loans when trying to foreclose.”

The lawsuit, recently unsealed, exposes some nasty secrets about the way in which banks handled the lawsuit and what that handling means. David Dayen with Salon, reported because the banks settled, rather than fought the suit, there are “tens of millions of mortgages in America [that] still lack a legitimate chain of ownership.” These tens of millions have been estimated to equal up to trillions of dollars. And because the mortgage documents are forgeries, there is no “underlying owner” that can rightfully foreclose on these mortgages.

What the banks were doing is sending off securities that were not mortgage-backed. They were essentially empty securities. As Syzmoniak points out, the “Defendants used fraudulent mortgage assignments to conceal that over 1400 MBS trusts, . . are missing critical documents.” The banks would push out these non-mortgage backed securities and eventually created over $1.4 trillion of worthless mortgages and securities.

A crucial piece of evidence in the lawsuit was that, in 2009, one “Assignment of Mortgage was inadvertently not recorded prior to the Final Judgement of Foreclosure.” This makes the underlying ownership of the mortgage invalid because that finding proved that the “mortgage assignment was not made before the closing date of the trust.”

Because these documents were faked, mortgages “were materially harmed by the subsequent impaired value of the securities.” The banks committed fraud to the most severe degree. They created $1.4 trillion in non-mortgage-backed securities, but they were able to settle by only paying a fraction of the amount they defrauded. And they even lied to the Securities and Exchange Commission about the valuelessness of the mortgages. No one was put in handcuffs, no one was convicted.

Despite the five largest banks settling, Szymoniak can still bring other banks like HSBC, Bank of New York Mellon, and Deutsche Bank to trial to seek retribution of their crimes.
———————
Josh is a writer and researcher with Ring of Fire. Follow him on Twitter @dnJdeli.

20130822-170322.jpg