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« Senate To Question Bernanke And Geithner On LIBOR | Main | Brandt: "I Expect To Lose Money On Peregrine Due To The Complete Incompetence Of The CFTC" »
Tuesday
Jul102012

BOMBSHELL VIDEO - Greenspan Admits To Rampant Fraud & Illegal Activity In U.S. Banking System While Sharing Jekyll Island Stage With Bernanke

Flashback from November 2010.  Runs 1 minute.

Video from the FED celebration at Jekyll Island.  Bernanke looks uncomfortable as Greenspan admits the truth.  Just don't tell Tim Geithner and Eric Holder.

 

---

By Dr. Pitchfork

Alan Greenspan made a stunning admission this Saturday at the Fed's shindig on Jekyll Island.  Sitting on a panel with Ben Bernanke and former NY Fed president, Gerald Corrigan, Greenspan says that many of the actions which led to the financial crisis were "certainly illegal," "clearly criminal" and amount to outright "fraud."  You'll notice in the clip that Bernanke was pretty clearly unsettled by Greenspan's remarks.  That's because Greenspan just admitted what many of us have been saying for years -- that crimes were committed in the financial system and that no one has been held responsible.  No one.  Not a single indictment from Eric Holder and Team Obama.  And all of this has happened under the nose of the current Fed chairman, Ben Bernanke.  That would be the same Ben Bernanke who takes credit for bailing out the people who committed those "illegal," "criminal" acts of "fraud."

Highlights:

  • "We need...to get far higher levels of enforcement of fraud statutes.  Existing ones.  I'm not even talking about new ones."
  • "Things were being done which were certainly illegal and clearly criminal in certain cases."
  • "If you cannot trust your counterparties, it won't work."

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Bill Black has been screaming the same for weeks:

 

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Reader Comments (20)

Nov 9, 2010 at 1:13 PM | Registered CommenterDailyBail
great video pitchfork...

That would be the same Ben Bernanke who takes credit for bailing out the people who committed those "illegal," "criminal" acts of "fraud."
Nov 9, 2010 at 1:48 PM | Registered CommenterDailyBail
Nov 9, 2010 at 1:50 PM | Registered CommenterDailyBail
TIGTA: Scammers Defraud IRS Out of $1.9 Billion Via Multiple I.D. Numbers

http://taxprof.typepad.com/taxprof_blog/2010/11/tigta-irs.html
Nov 9, 2010 at 1:51 PM | Registered CommenterDailyBail
Thanks for that clip, Doc!

Anybody know who the president of the New York Fed was during all this?
Nov 9, 2010 at 2:25 PM | Unregistered Commentermark mchugh
That rat's ass Geithner, the biggest crook not in the room...oh that's right, he's holding Obama's hand over in the land of the rising sun. Let's see them both talk their way out of the Dagong sovereign downgrade ...
Nov 9, 2010 at 2:44 PM | Unregistered CommenterWil Martindale
I'm not disputing what he's saying but I'd like to have seen the context.
Nov 9, 2010 at 4:51 PM | Unregistered Commenterfedup
"Greenspan says that many of the actions which led to the financial crisis were "certainly illegal," "clearly criminal" and amount to outright "fraud." You'll notice in the clip that Bernanke was pretty clearly unsettled by Greenspan's remarks."

Come on guys, this can't be true, it was merely opportunities to "enhance" future political funding...
Nov 9, 2010 at 6:57 PM | Unregistered CommenterS. Gompers
It's a charade. Bernanke's SUPPOSED to look clueless. ;-0
Nov 10, 2010 at 8:56 AM | Unregistered CommenterWil Martindale
c'mon guys...what are you cynical..it's been the plan from the beginning...;-)

Deflation, Ben Bernanke and the Famous Helicopter

http://blogs.wsj.com/economics/2008/10/18/deflation-ben-bernanke-and-the-famous-helicopter/
Nov 10, 2010 at 9:55 AM | Registered CommenterDailyBail
"it's been the plan from the beginning...;-)"

Of course it was, they lobbied to reduce regulation, so they could steal more money, that way they could afford to lobby more to change laws so they could steal some more. And then they could lobby more to change laws to...

What a vicious circle of feeding the pets in Congress.
Nov 10, 2010 at 10:06 AM | Unregistered CommenterS. Gompers
Where is WalStreetPro when U need him?
Nov 10, 2010 at 5:35 PM | Unregistered CommenterAint Bullshittin'
AB, remember when some of us thought YOU were WalstreetPro? LOL
Nov 10, 2010 at 6:39 PM | Registered CommenterDr. Pitchfork
It's amazing to me that more people aren't calling for investigations and for a crackdown.
Nov 11, 2010 at 12:07 PM | Unregistered CommenterHal (GT)
The love of money is the root to ALL SORTS OF EVIL. Not surprising.
Nov 11, 2010 at 5:07 PM | Unregistered CommenterMichael
Charlie Rose interview with Alan Greenspan

http://www.charlierose.com/view/interview/8704

Nice interview, Alan had made some interesting comments at 28:45 and 40:00. I didn't know he was a libertarian....
Mar 6, 2011 at 9:45 AM | Unregistered Commenterjohn
DB, Please clean up this site & stop posting videos of ASSHOLES
Sep 28, 2011 at 7:54 PM | Unregistered CommenterTR
S. Gompers
"it's been the plan from the beginning..

Now you've confused me.
Sep 28, 2011 at 7:57 PM | Unregistered CommenterTR
Greenspan? Guy is just covering his butt so he doesn't get thrown in jail if the globalization plan doesn't work out.

Along with Dick Cheney(his new book), along with George Bush and the rest of the criminals.

They have done a heck of a job at burying the western economies in debt so they can roll in the IMF, the UN, and the world bank for some new management is the way I see it.
Sep 29, 2011 at 6:05 AM | Unregistered CommenterJim3891

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