Who Is Dan Jester And Why Did Tim Geithner Call Him 103 Times During The Financial Meltdown Of 2008?

Editor's Note:  In light of the Goldman theft detailed yesterday, we are reposting this story as part of our look back at the Goldman AIG taxpayer rape.

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How Paulson Appointees & Former GS Employees Dan Jester & Ed Liddy Colluded To Destroy AIG And Secure A Secret Bailout For Goldman Sachs

The most detailed write-up of what happened with AIG I've come across.  This is not without complexity.  Two important points which are discussed in great detail below:

• Dan Jester was "as useless as tits on a bull" in securing forbearance from the ratings agencies.  This sealed AIG's fate and guaranteed a bailout.

• Seeking to avoid public scrutiny into the role he played while CEO of GS, Paulson installed former Goldman executive Edward Liddy as CEO of AIG to quietly pay out $18.7 billion (highlighted below) to AIG counterparties, thereby sealing the fate of any negotiations. 

Read this one carefully.  There's a lot in here.

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FED WATCH - Bernanke Headlines Streaming LIVE

Streaming headlines from Bernanke's press conference are below.

1. Bernanke: Assets sales now pushed back to 2015

2. Bernanke: Quantitative easing remains an option

3. Bernanke: Savers benefitting from low inflation

4. Bernanke: Fed mindful savers hurt by low rates

5. Bernanke won't respond to Republican critics
6. Bernanke: It would take very strong growth to hike
7. Bernanke: Lot of slack exists in labor market

8. Bernanke: See signs of low inflation ahead

9. Bernanke: Fed ready to ease if outlook worsens

10. Bernanke: Can't yet say strong growth here to stay

11. Bernanke: Fed hoping Q4 strength will continue

12. Bernanke: There have been positive economic signs

13. Bernanke: Fed rate projections are not promises

14. Bernanke: Inflation held down by labor costs

15. Bernanke: Jobless rate will only come down slowly

16. Bernanke: Economy will accelerate gradually

17. Bernanke: Policy goals won't change how Fed works

18. Bernanke: Fed can't set firm unemployment goal

19. Bernanke: Low unemployment goal equal with prices

20. Fed cuts 2012 core inflation view to 1.5%-1.8%

21. Fed cuts 2012 PCE inflation view to 1.4%-1.8%

22. Fed reduces 2012 jobless view to 8.2%-8.5%

23. Fed cuts 2012 growth view to 2.2%-2.7%

24. Fed sets long-term inflation goal of 2%

25. Longer-run interest rate goal 4% to 4.5%

26. 2 FOMC members want first hike in 2016

27. 4 FOMC members want first hike in 2015

28. 5 FOMC members want first hike in 2014

29. 3 FOMC members want first hike in 2013

30. 3 FOMC members want first hike in 2012

31. Fed cuts 2012 core inflation view to 1.5%-1.8%

32. Fed cuts 2012 PCE inflation view to 1.4%-1.8%

33. Fed reduces 2012 jobless view to 8.2%-8.5%

34. Fed sets long-term inflation goal of 2%

35. Longer-run interest rate goal 4% to 4.5%

Live blogging the Fed chairman’s press conference

Maybe the Fed means no hike until 2016: Credit Suisse

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In Europe, Fiscal Insanity Erupts As Bankrupt Nations Scramble To Bailout Other Bankrupt Nations (HILARIOUS)

Brilliant is an understatement.  Start watching at the 30-second mark.

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PHOTO OF THE DAY - Healthcare & The 99%

A sign of the times:

• Click HERE to see in full-size

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Eric Holder, Covington & Burling And MERS

Conflict of interest?  You decide.  Read the details HERE.

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Citigroup Faces New $1 Billion Lawsuit Over CDO Fraud

Criminal action deserves criminal prosecution.  This is nothing but a minor distraction for Citigroup. 

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Comprehensive List Of Obama Tax Increases - 3 Years In Office & 21 Tax Hikes, Gingrich Plots To Overthrow Castro

Comprehensive List of Obama Tax Increases - 3 years in office, 21 tax hikes

Billionaires Occupy Davos as 0.01% Bemoan Inequality - Bloomberg

Forget Greece; it’s Portugal that’ll destroy euro - Matthew Lynn

Janet Tavakoli - Gold & Silver Price Manipulation: Look for Motive

In D.C. loan program, mortgage defaults abound - Wash Po

Newt Gingrich: I Will Overthrow Castro Regime

Mitt Romney's 2009 Tax Burden Likely Even Lower Than 2010, Experts Say

ECB Said to Oppose Losses on Its Greek Debt - Bloomberg

Capitalism Seen in Crisis by Investors Citing Inequalities - Bloomberg

Obama Calls for Higher Taxes on Wealthy in SOTU speech

From CEO to Candidate, Romney Flip-Flops on Debt - ProPublica

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Warren Buffett Wins Big In Keystone Pipeline Rejection

Crony capitalism never dies.

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Deutsche Bank Analyst Sounded Alarm When Asked To Alter Numbers In Quest For AAA Rating - ProPublica Investigation

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JPMorgan Bankruptcy Fraud Class Action Lawsuit Makes Strong Allegations

Source

According to the JPMorgan Chase bankruptcy fraud class action lawsuit, “Chase is engaged in the business practice of deceiving bankruptcy judges, Chapter 7 trustees, Chapter 11 trustees, Chapter 13 trustees, the Office of the United States Trustee, creditors, creditor attorneys, debtors in possession, debtors and debtors attorneys as to Chase’s status as a secured creditor in tens of thousands of bankruptcy cases filed nationwide.”

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Ron Paul Highlights From NBC Florida Presidential Debate - The Fed, Possible 3rd-Party Campaign, TARP, Freddie Mac

This is a very interesting clip.  Watch at least the first few minutes, as Gingrich and Paul discuss the Federal Reserve, a possible 3rd-party campaign run for Dr. Paul, Gingrich's consulting tenure for Freddie Mac, TARP, Wall Street and more.

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Video: Mitt Romney Loves The Federal Reserve

Start your day on the wrong foot with 20 seconds from the Fed-loving GOP frontrunner.

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Loophole Romney Finally Releases His Tax Returns, Paid 14% Rate On $21 Million In Income

Long live the hedge fund/private equity tax loophole.  This is an abomination.

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