Max Keiser - Aljazeera English News - 16 November 2008

I love how the tone of youtube comments doesn't change from video to video - only the level of vocabulary with which people insult each other.

Carry - Pt 1

Obviously the FED started heavily misinterpreting the Glass Steagall Act in 1987, (under vote)

On April 6, 1998, Weill and Reed announce a $70 billion stock swap merging Travelers (which owned the investment house Salomon Smith Barney) and Citicorp (the parent of Citibank), to create Citigroup Inc., the world's largest financial services company, in what was the biggest corporate merger in history

Carry - Pt 2

Weill immediately plunges into a public-relations and lobbying campaign for the repeal of Glass-Steagall and passage of new financial services legislation (what becomes the Financial Services Modernization Act of 1999)

In May 1998, the House passes legislation by a vote of 214 to 213 that allows for the merging of banks, securities firms, and insurance companies into huge financial conglomerates

Carry - Pt 3

On Oct. 22, Weill and John Reed issue a statement congratulating Congress and President Clinton having it all signed into law

Just days after the administration (including the Treasury Department) agrees to support the repeal, Treasury Secretary Robert Rubin, the former co-chairman of a major Wall Street investment bank, Goldman Sachs, raises eyebrows by accepting a top job at Citigroup as Weill's chief lieutenant

Carry - Final

The previous year, Weill had called Secretary Rubin to give him advance notice of the upcoming merger announcement. When Weill told Rubin he had some important news, the secretary reportedly quipped, "You're buying the government?"

That was a brief chronology tracing the life of the Glass-Steagall Act, from its passage in 1933 to its death throes in the 1990s, and how Citigroup's Sandy Weill, et al., dealt the coup de grâce

Thanks for the copypasta, so you now admit that the Community Reinvestment Act did not repeal Glass-Steagall? Great.

Carry

Your "need" to live in a matrix of delusion is not only an affront to your intelligence, it won't serve you well this year when the dollar collapses

Meanwhile, my Norwegian Kroners are going ballistic!

this is the first i've heard of bonds being paid with oil, thus causing the drop in oil price. anybody have a link?

basically, the financial firms with positions in oil had to sell out of those positions to raise money to cover their expenditures (until they received help from the government)... i think.

Stacy,
thanks for bringing this to our attention again.
Amazing. Amazing stuff!
You, Max, Rick, Karl, Don, Mish; God sends all of you.
Tell it like it is. . .
Tell the people. Tell the people!