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Tim Geithner “Aided and Abetted” LIBOR Crimes
Yahoo Finance ^ | July 17, 2012 | Jim Rickards

Posted on 07/17/2012 7:35:38 PM PDT by JustTheTruth

(snip)

The LIBOR scandal is "so big I don't think people have got their minds around it," says Jim Rickards, a partner at JAC Capital Advisors and author of Currency Wars: The Making of the Next Global. "This is the largest financial scandal I've seen in my career."

If $500 trillion of swaps are based on LIBOR and the rate was manipulated by 10 basis points over five years, that's $2.5 trillion of fraudulent transactions -- more than the combined capital of the nation's five largest banks, Rickards explains. "Congress may have to step in to limit the damages because it would threaten the banking system." (snip)

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Crime/Corruption
KEYWORDS: cultureofcorruption; demscandals; geithner; libor; obamamafia
Ho-hum; another massive fraud and corruption event, another "Nothing to see here, Folks..."
1 posted on 07/17/2012 7:35:47 PM PDT by JustTheTruth
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To: JustTheTruth

Something to keep in mind here: Virtually all of these banks are in left-wing New York City. Virtually all of their senior management are big-time leftist Democrats. Virtually all of the media will blame this on evil fat-cat Republicans.


2 posted on 07/17/2012 7:40:01 PM PDT by Thane_Banquo (Support hate crime laws: Because some victims are more equal than others.)
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To: JustTheTruth

Something to keep in mind here: Virtually all of these banks are in left-wing New York City. Virtually all of their senior management are big-time leftist Democrats. Virtually all of the media will blame this on evil fat-cat Republicans.


3 posted on 07/17/2012 7:40:35 PM PDT by Thane_Banquo (Support hate crime laws: Because some victims are more equal than others.)
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To: JustTheTruth

“Congress may have to step in to limit the damages because it would threaten the banking system.”

It’s obvious that these bankers are crooks that need to be more than threatened. The whole system is corrupt and everyone involved needs to do hard time after losing all their personal assets.


4 posted on 07/17/2012 7:45:45 PM PDT by freedomfiter2 (Brutal acts of commission and yawning acts of omission both strengthen the hand of the devil.)
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To: JustTheTruth

Damn that Turbo Tax!


5 posted on 07/17/2012 7:46:29 PM PDT by Mark (Don't argue with my posts. I typed while under sniper fire..)
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To: JustTheTruth

Want Obama to lose in Nov? Really want to see him go down?

Then every small business owner ought to have a temporary RIF starting now and tell those who are laid off that it’s because of the economy. Do this in key States and you’ll have a sure win.

It really is the patriotic thing to do since we are at risk of losing our country. We take men and women out of the work force to fight wars. Why not take them out of the work force to fight the internal war that is being waged at home?


6 posted on 07/17/2012 7:47:45 PM PDT by veritas2002
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To: JustTheTruth
This story's getting huge press in Britain.We can rest assured that Osama Obama will either convince our press to ignore it or to blame....well,you know.
7 posted on 07/17/2012 7:49:27 PM PDT by Gay State Conservative (Poor Barak.If He's Reelected,Think Of The Mess He'll Inherit!)
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To: JustTheTruth
More regulation will come as a result.. Nothing that will help with this issue. But your mortgage and investments will will have 72 new forms and take 2 more weeks to process.
8 posted on 07/17/2012 7:56:56 PM PDT by HereInTheHeartland ("The writing is on the wall - Unions are screwed. reformist2 10:04 PM #27")
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To: JustTheTruth

I believe this will be covered under Executive Privilege.

Anybody hear this morning, BTW, Glenn Beck just come right out and call the media’s behavior “treason”? The old book title, “None Dare Call It Treason” has been going through my mind for months, now. We are witnessing the Communist takeover of our country, and the reason it is not seen as such is entirely due to the media. It truly is treason, and Obama and his gang of criminals are clearly traitors.


9 posted on 07/17/2012 8:01:06 PM PDT by dagogo redux (A whiff of primitive spirits in the air, harbingers of an impending descent into the feral.)
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To: JustTheTruth

Neither Geithner or Bernanke ever held a productive job in the private sector.


10 posted on 07/17/2012 8:02:21 PM PDT by Octar
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To: Octar

Would love to see them both making license plates in the Big House.


11 posted on 07/17/2012 8:04:17 PM PDT by Sioux-san
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To: Sioux-san
Who financed Lenin and Trotsky?

Jacob Schiff was head of the New York investment firm Kuhn, Loeb and Co. He was one of the principal backers of the Bolshevik revolution and personally financed Trotsky's trip from New York to Russia. He was a major contributor to Woodrow Wilson's presidential campaign.

Professor Sutton stated, "Western textbooks on Soviet economic development omit any description of the economic and financial aid given to the 1917 Revolution and subsequent economic development by Western Firms and banks." "In the Bolshevik Revolution we have some of the world's richest and most powerful men financing a movement which claims its very existence is based on the concept of stripping of their wealth," declared Allen. "[M]en like the Rothschilds, Rockefellers, Schiffs, Warburgs, Morgans, Harrimans, and Milners."

12 posted on 07/17/2012 8:15:47 PM PDT by scooby321 (h tones)
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To: Sioux-san

More like cleaning the urinals and toliets in the prison. Stamping out license plates is too good for them.


13 posted on 07/17/2012 8:21:18 PM PDT by biff (WAS)
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To: veritas2002
Then every small business owner ought to have a temporary RIF starting now and tell those who are laid off that it’s because of the economy.

Along with firing every democrat in your organization and hiring those that actually have a work ethic.

F**k em, they made their bed, sleep in it.

14 posted on 07/17/2012 8:21:43 PM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: Sioux-san
Would love to see them both making license plates in the Big House.

Speak for yourself. I'd like to see them hung in a public square.

15 posted on 07/17/2012 8:24:06 PM PDT by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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To: JustTheTruth

Where the hell is the GOP? Where the hell is Boehner? He should be holding press conferences....


16 posted on 07/17/2012 8:43:21 PM PDT by dragonblustar (Allah Ain't So Akbar!)
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To: unixfox

me, too, but I am just being realistic ;o)


17 posted on 07/17/2012 8:46:41 PM PDT by Sioux-san
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To: JustTheTruth

Why hasn’t this scandal tanked the stock markets? At least financial/ bank stocks? The markets have to fall pretty soon before the elections.


18 posted on 07/17/2012 8:57:32 PM PDT by grumpygresh (Democrats delenda est; zero sera dans l'enfer bientot.)
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To: biff

...and after 5 years give ‘em a brush.


19 posted on 07/17/2012 9:00:35 PM PDT by beethovenfan (If Islam is the solution, the "problem" must be freedom.)
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To: JustTheTruth

” - - - The LIBOR scandal is “so big I don’t think people have got their minds around it,” says Jim Rickards, a partner at JAC Capital Advisors - - - - “

Then by the hair on Volker’s chinny-chin-chin it MUST be “ To Big to Fail ! “


20 posted on 07/17/2012 9:12:23 PM PDT by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: dragonblustar

“Where the hell is the GOP? Where the hell is Boehner? He should be holding press conferences....”

Is this a serious question? Why, they’re at the cocktail party... having a martini with Justice Roberts of course!


21 posted on 07/17/2012 9:16:15 PM PDT by MichaelCorleone ('We the People' can and will take this country back...starting today.)
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To: JustTheTruth

The Obama Administration will go down in history as CRIME INC.


22 posted on 07/17/2012 9:28:49 PM PDT by Hotlanta Mike (Resurrect the House Committee on Un-American Activities (HUAC)...before there is no America!)
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To: dragonblustar

Where the hell is the GOP? Where the hell is Boehner? He should be holding press conferences....


Are you kidding? The GOP! The go along to get along party is expected to do anything that may irritate the liberals?

Maybe Boehner can cry some tears and stomp his feet...but nothing else is expected.


23 posted on 07/18/2012 5:04:51 AM PDT by DH (Once the tainted finger of government touches anything the rot begins)
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