Tagged: Banks

If Ben Bernanke Had Spent More Time Searching For The Real Killer, The Dow Would Be At 20,000

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Proving that dead tree journalism still has life, the Seattle Times has a terrific two-parter on the downfall of Washington Mutual.

As with all truly great journalism, it's the weaving of little details that makes the story:

Someone in Florida had made a second-mortgage loan to O.J. Simpson, and I just about blew my top, because there was this huge judgment against him from his wife's parents," she recalled. Simpson had been acquitted of killing his wife Nicole and her friend but was later found liable for their deaths in a civil lawsuit; that judgment took precedence over other debts, such as if Simpson defaulted on his WaMu loan.

When I asked how we could possibly foreclose on it, they said there was a letter in the file from O.J. Simpson saying "the judgment is no good, because I didn't do it."

picard facepalm

Via Overlawyered.

The Party Of Jefferson And Jackson Has Strayed A Long Way From Jackson

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If I didn't already believe that the Illuminati control the world through banks, this might have me puzzled:

The Federal Reserve Board has rejected a request by U.S. Treasury Secretary Timothy Geithner for a public review of the central bank’s structure and governance, three people familiar with the matter said. …

“It is not obvious at all why that is a Treasury responsibility or even appropriate why the Treasury would undertake that kind of study,” said Robert Eisenbeis, chief monetary economist at Cumberland Advisors Inc. in Vineland, New Jersey, and a former Atlanta Fed research director. “The Fed was created by Congress and it is not part of the executive branch.”

I'll tell you why it is appropriate for the Treasury Department to look into the Federal Reserve bank's governance and structure, Mr. Eisenbeis.  Because the Treasury Department is a part of the executive branch, which is charged under Article 2, Section 3, of the United States Constitution, to "take care that the Laws be faithfully executed."  Among those laws is the law creating the Federal Reserve system, which I'll submit has been rather badly executed in recent years.

Oldthinkers believe that the Constitution creates only three branches of government: Congress, the Presidency, and the Federal Courts.  It does not create, nor does it explicitly authorize, a bank.  Didn't we hash this out in the 19th century?

In another, more serious era, in which people took the Constitution seriously, this sort of thing, in which a bank created under the laws of the United States, and which has the power under those laws to set interest rates for all private banks and in fact to create money which is legal tender in the United States, refused a request for review and simple information by the President of the United States, might be called a "constitutional crisis."

Meanwhile, Congress itself has a bill pending, sponsored by one of our bêtes noire along with over 200 others, to audit the Federal Reserve.  While of course that bill will never become law, because the Illuminati control the world through banks, if it happened, would the Federal Reserve deny the audit because the Fed is not part of the legislative branch?

I didn't vote for Obama, or his flunky Geithner, but I had the opportunity to do so, and a lot of other people took that opportunity up.  I sure don't remember being offered the opportunity to vote for or against Ben Bernanke.