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Paulson’s Inside Jobs – REUTERS Reports on Then US Secretary of Treasury’s “Pathological” Proviiding of Insider Inforamtion to his Wall Street Buddies

05 Dec

For those who haven’t yet caught up with the real world of Bankster Insider Jobs, this latest from Reuters makes it pretty plain

A Goldman Sachs Management meeting with the then US Secretary of Treasury’ in Moscow in Junt 2008 – and now this additional information wherein he revealed to Hedge Fund Insiders the plan to put Freddie and Fannie into conservatorship…

The question has to be asked:  At what point do we stand up for ourselves and insist on prosecution of these criminals?  Additionally, it must be pointed out that two sovereign nations in Europe (Greece and italy) have recently had their heads of state replaced by men directly from Goldman’s stables.  It IS time to change their name:  Government Sachs; and admit they are now running the world and destroying economies globally.  (And have been for a while now, actually).

Here is the first bit of the article – as always, click the headline link or the end link to continue reading at the source…

 

Felix Salmon

A slice of lime in the soda

Hank Paulson’s inside jobs

The first news of this behavior came in October 2009, when Andrew Ross Sorkin revealed that Paulson had met with the entire board of Goldman Sachs in a Moscow hotel suite for an hour at the end of June 2008. He told them his views of the US and global economies, he previewed a market-moving speech he was about to give, and he even talked about the possibility that Lehman Brothers might blow up. Maybe it’s not so surprising that Goldman Sachs turned out to be so well positioned when Lehman did indeed do just that a few months later.

Today we learn that the Goldman meeting in Moscow was not some kind of aberration. A few weeks later, on July 28 2008, Paulson met with a who’s who of the hedge-fund world in the headquarters of Eton Park Capital Management — a fund founded by former Goldman superstar Eric Mindich.

The secretary, then 62, went on to describe a possible scenario for placing Fannie and Freddie into “conservatorship” — a government seizure designed to allow the firms to continue operations despite heavy losses in the mortgage markets…

Paulson explained that under this scenario, the common stock of the two government-sponsored enterprises, or GSEs, would be effectively wiped out…

The fund manager who described the meeting left after coffee and called his lawyer. The attorney’s quick conclusion: Paulson’s talk was material nonpublic information, and his client should immediately stop trading the shares of Washington- based Fannie and McLean, Virginia-based Freddie.

When we found out about the Moscow meeting, I asked how on earth Paulson thought such behavior was OK. But now I think he was downright pathological in giving inside information to his old Wall Street buddies. And the crazy thing is that we have no idea how many of these meetings there were, or how long they went on for — the only way that we ever find out about them is when reporters like Sorkin or Bloomberg’s Richard Teitelbaum manage to find a source who was in the meeting and is willing to talk about what happened.

Read the full article here

You may also want to read the article over at EndtheLie.com on this topic which you can find here.

Here is a small bit of that one as well:

 

Turns out the ‘Government Sachs’ conspiracy theorists were right all along

By Madison Ruppert

Editor of End the Lie

In a shocking article published in Reuters yesterday, Felix Salmon confirmed what the so-called conspiracy theorists have said all along: former Secretary of the U.S. Treasury Hank Paulson was giving insider tips to his cronies at Goldman Sachs and other Wall Street titans which directly benefitted them.

The article is entitled, “Hank Paulson’s inside jobs,” emphasizing the fact that this wasn’t some one-off lapse of ethics on Paulson’s part but instead a disturbingly regular practice.

For those who are unaware, Paulson was the CEO and chairman at Goldman Sachs from 1999-2006 and he clearly provided them with actionable information that epitomizes the plague upon our economy, and the greater global economic system, that is crony capitalism.

However, this isn’t quite a brand new revelation given the fact that in October of 2009 Andrew Ross Sorkin exposed that Paulson met with the entire Goldman Sachs board in a hotel suite in Moscow at the end of June 2008.

Salmon covered this at the time, after Sorkin’s book was released, which detailed the meeting held after the Goldman Sachs boys had dinner with Mikhail Gorbachev.

At the time the Treasury chief of staff Jim Wilkinson told Goldman Sachs chief of staff John Rogers, “Let’s keep this quiet,” indicating that despite the fact that the Treasury’s general counsel Bob Hoyt claimed “it wouldn’t run afoul of the ethics guidelines,” they were well aware that wasn’t the case.

Hoyt said that it was acceptable so long as it was solely a “social event”, but unsurprisingly, Paulson didn’t record the so-called “social event” in his official calendar.

It is undeniable that these individuals knew very well what they were doing, and clearly they had no misgivings whatsoever.

During the Moscow meeting Paulson spoke of “the need for the government to have the power to wind down troubled firms, offering a preview of his upcoming speech,” according to Sorkin.

This wasn’t just a friend going over a speech with some old pals, as everyone knows the words of the Treasury Secretary heavily affect global markets almost instantly, just like speeches by the likes of Ben Shalom Bernanke, the Chairman of the Board of Governors of the private Federal Reserve.

More at EndtheLie.com – http://EndtheLie.com/2011/11/30/turns-out-the-%e2%80%98government-sachs%e2%80%99-conspiracy-theorists-were-right-all-along/#ixzz1fdw7V361

 

 
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  1. S. Quade

    December 17, 2011 at 8:43 am

    No wonder someone beat him up at his health club.