Dr. Stanley Monteith: The Financial Elite

From: Radio Liberty

Why is Henry Paulson trying to conceal the true origin of the crisis? Because he works for the Financial Elite (the Brotherhood of Darkness) that created the problem. How did they create the problem? Wall Street banks, and other BOD financial institutions, wrote trillions of dollars of derivative contracts that defaulted, and left thousands of foreign and domestic banks without sufficient financial reserves to continue operating. What are derivative contracts? They are unfunded insurance policies that guarantee the value of financial vehicles: i.e. Collateralized Debt Obligations (bundled home mortgages-CDOs), Asset Backed Securities (bundled student loans, credit card loans, and auto loans-ABS) and Structured Investment Vehicles (SIVs). The Financial Elite sold thousands of derivative contracts valued at between $500 trillion and $1 quadrillion to other financial institutions, but didn’t maintain the financial reserves needed to redeem the financial vehicles if they defaulted. Was that stupidity, or something far more sinister? [7]

Henry Paulson is one of the primary architects of the problem because he could have intervened in 2007, and stopped the home foreclosures, but he didn’t. Why? Because the Financial Elite sent Henry Paulson to Washington, D.C., to carry out their agenda, and he has served them well.

Henry Paulson worked for Goldman Sachs for twenty-two years, from 1974-2006, and helped the investment bank bundle thousands of subprime and Alt A mortgages into Collateralized Debt Obligations (CDOs) that were sold to unsuspecting clients throughout the world. [8] In 2004 Henry Paulson led a contingent of bankers to Washington, D.C., and tried to convince the Securities and Exchange Commission that financial institutions shouldn’t be required to maintain the monetary reserves needed to cover their derivative contracts. Henry Paulson and his Wall Street friends succeeded, and are directly responsible for the derivative-driven economic collapse that is taking place today. [9]

Henry Paulson could have used part of the $700 billion TARP funds he got from Congress to purchase most of the defective home mortgages that are causing the current economic collapse, or he could have backed Sheila Bair’s effort (the FDIC program) to keep people in their homes, but Paulson opposed both programs. [10]

Henry Paulson was richly rewarded for his services. During his tenure at Goldman Sachs, he amassed a personal fortune that is estimated to be $800 million, and he was sent to Washington, D.C., in 2006 to preside over the transfer of trillions of taxpayer dollars to the Wall Street banks and the Financial Elite. [11]

By the end of November 2008, Henry Paulson (CFR-BB), and FED Chairman Ben Bernake (BB), had loaned, pledged, or given over $7.4 trillion to the Financial Elite that rules the world. The Federal Reserve Board chronicled their 2008 expenditures.

Read Entire Article

Related: Dr. Stanley Monteith: The Financial Elite – Part II

Leave a Reply