Bernanke or Paulson – one sits in the trap ( I doubt its Paulson)

After Paulson admitted before Cuomo that he threatened Lewis on behalf of Bernanke and Lewis brought up the involvement of Bernanke some trouble is ahead. Probably Paulson wants Bernanke to resign so Dudley FED president of NY can be made the new chairman as he comes from Goldman that would be the ideal pole position.
Paulson can not be trusted as he did and would use all tricks to reach his goals – he started out working for the Nixon guys and just disappeared days before the scandal erupted. You can read about him in the prior post oır some other blogs I wrote. I am repeating myself but one of his motivations to become secretary was the loophole that he could sell all his Goldman stocks without paying taxes that may have saved him aprrox. up to 200 million in taxes ( thats quite a pay for 2 years screwing the people of America) besides the other stuff he had to do in order to get that kind of benefit – like shifting AIG funds to Goldman and most importantly inside information he had them first hand ( even more inside than Bush as Paulson run the show). I can hardly imagine that Paulson acted for Bernanke, rather played Bernanke and orders Geithner would be the order of action.

Bernanke Denies Asking Bank of America’s Lewis to Stay Quiet

By David Mildenberg

May 5 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke testified that he never asked Kenneth Lewis, chief executive officer of Bank of America Corp., to refrain from publicly discussing losses at Merrill Lynch & Co. before the company’s January merger.

“I absolutely did not in any way ask Mr. Lewis to obscure any disclosures or to fail to report information that he should be reporting,” Bernanke said today in testimony to the congressional Joint Economic Committee.

Lewis in February told investigators for New York Attorney General Andrew Cuomo that he was pressured in mid-December by Bernanke and former Treasury Secretary Henry Paulson to complete the Merrill acquisition amid mounting losses at the brokerage firm. Shareholders of companies voted to approve the transaction on Dec. 5.

Cuomo released Lewis’s testimony last month after gathering the information during his investigation of the distribution off $3.6 billion of bonuses to Merrill employees.

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~ by behindthematrix on May 6, 2009.

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