CONSPIRACY: Larry Summers and the Secret "End-Game" Memo

Now THIS is a REAL conspiracy:

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% 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.

To get that confirmation, I would have to fly to Geneva and wangle a meeting with the Secretary General of the World Trade Organization, Pascal Lamy. I did.

READ MORE

*********************************************************************************
THE CONFIDENTIAL MEMO AT THE HEART OF THE GLOBAL FINANCIAL CRISIS *********************************************************************************

And you know what is truly frightening?

Larry Summers appears to be Barack Obama's top choice to become the next chairman of the Federal Reserve.

That statement should send chills up your spine.

The truth is that Larry Summers should not even be running a Dairy Queen, much less the most powerful financial institution on the planet.

If Larry Summers becomes the next head of the Federal Reserve, it will be an unmitigated disaster.

But it looks like that is exactly what we are going to get.

We are rapidly heading toward the next major global financial crisis, and on top of everything else we will probably have Larry Summers running things soon.

What a nightmare.

READ MORE

Instead of bringing real change, Obama’s plans seem more likely to do the opposite of what he says he wants...

Obama said that large financial institutions almost ruined the U.S. economy because they took “huge, reckless risks in pursuit of quick profits and massive bonuses.” Unfortunately his latest solution, long on political rhetoric and short on substance, is likely to make the financial system more fragile and more susceptible to government bailouts.

You do not have to be a financial genius to figure this out.

Read the whole thing

"Of the people" my ass!

UPDATE 4/4/09: The Obama administration has mastered the art of the Friday Night Disclosure (think: "transparency")

Lawrence H. Summers, one of President Obama's top economic advisers, collected roughly $5.2 million in compensation from hedge fund D.E. Shaw over the past year and was paid more than $2.7 million in speaking fees by several troubled Wall Street firms and other organizations. Read more

BUT THAT'S NOT ALL!!!

Harvard Derivatives Whiz Fired For Emailing Larry Summers About "Frightening" Trades?
By Moe Tkacik - April 1, 2009, 1:31PM

A former quantitative analyst at Harvard Management Company, the university's once-vaunted endowment manager, tells the Harvard Crimson she was fired for voicing concern to then-university president Larry Summers' chief of staff about the money manager's risky use of derivatives the traders didn't understand. Read more

DO YOU SEE A PATTERN HERE???

Shell Game: Will they get away with it???

Besides this being the greatest heist in history,

There is another component to this insidious plan that should also be all too familiar to taxpayers: President Obama and Congress intend to run the scheme off budget, meaning that its funding will not be part of the usual appropriations and budget process (just like Social Security).

Tim Geithner, Treasury secretary, and Lawrence Summers, director of the White House national economic council, suspect that they cannot go back to Congress to fund their plan and so are raiding the Federal Reserve, the Federal Deposit Insurance Corporation and the remaining Tarp funds, hoping that there will be little public understanding and little or no congressional scrutiny. This is an inappropriate institutional use of the Fed, the FDIC and the Tarp.

And, lest anyone forget about the big difference between these two men,

Ronald Reagan arguably forfeited the mid term elections in 1982 by adopting a strict monetary policy to shrink the nation's money supply and end the high inflation that palagued the economy. This policy laid the foundation for a period of historic recovery and growth, but it was done at a serious political cost. Today the President and Congress have a similar duty to lead but they refuse to do so and instead offer policy that is borne of political expediency and cowardice. The disconnect between Congress and taxpayers has never been so stark.

Obama/Geithner Bank Plan Robs Tax Payers: Congress Drives The Getaway Car

White House sez: (Now) Greed is Good

OK kids: Now it's time to put away those dirty old blocks we gave you last week and take out your brand new ones! Stay tuned for the Larry & Barry show.

The nation’s economy used to have too much greed and not enough fear of the future, but now has too much fear and could use a little more “greed” — spending.

Lawrence H. Summers, the White House economic adviser, calls it “the paradox at the heart of the financial crisis. “

“In the past few years, we’ve seen too much greed and too little fear; too much spending and not enough saving; too much borrowing and not enough worrying,” Summers said Friday in a speech to the Brookings Institution. “Today, however, our problem is exactly the opposite.”

Read the whole thing!

Turf wars! (So soon?)

Everyone knew this was going to happen (except Obama because he thought his Hopi-Changey Snake Dance would fix everything -- after all, HE WON and now he has his ring his prayer-plume!)

But some of us know how this will all end:

The dance ends with the drinking of an emetic, which makes the dancers vomit and this is believed to purge them of any dangerous snake-charms

Volcker Chafes at Obama Panel Delay, Strains With Summers Rise.