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Tuesday
Jul102012

Senate To Question Bernanke And Geithner On LIBOR

Couldn't we simply fast-forward through the various Congressional dog-and-poney LIBOR events until Dimon and Blankfein sit before the Senate and explain to their minions that there was absolutely no fraud.  Not here, not there, not anywhere.

---

Marketwatch

WASHINGTON - Sen. Tim Johnson, the chairman of the Senate Banking Committee, said Tuesday that Federal Reserve Board Chairman Ben Bernanke should be prepared to discuss the possible illegal manipulation of the London Interbank Offered Rate, or Libor, by banks in Europe, Japan and the United States when he appears before the panel later this month. Johnson said that Treasury Secretary Timothy Geithner should also be prepared to answer senators' questions on the scandal at a separate hearing also to be held this month. Johnson said that his committee staff has begun to schedule bipartisan briefings with "relevant parties" to learn more about the Libor allegations and related enforcement actions. "It is important that we understand how any manipulation may impact American consumers and the U.S. financial system," Johnson said in a statement. The U.K. bank Barclays PLC was fined roughly $450 million for fixing Libor.

Barclays has said that BoE and Federal Reserve officials were aware of the issue. 

 

 

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Reader Comments (18)

Another useless and wasteful 'investigation' that will result at best in a wrist slap and token fine. The bankers as well as the regulators should be thrown in prison and stripped of all job related benefits up to and including pensions and healthcare as well as be barred from the industries for life. Since the whores in CONgress are defacto owned by lobbyists however absolutely none of this will occur as those lobby dollars are the ONLY thing motivating the majority of poli-tics (blood sucking leaches)
Jul 10, 2012 at 8:30 PM | Unregistered Commenterted
The Feds known about this for years and our paid off politicians don't care

Wall Street Supporters In Congress Unmoved By Libor Probe
http://www.bloomberg.com/news/2012-07-03/wall-street-supporters-in-congress-unmoved-by-libor-probe.html

"But, for all the political hay-making and speculation about a grand conspiracy, it is Barclays' other Libor-related activities that should be the priority.

What the FSA revealed is repeated efforts by derivatives traders to have the bank's Libor submission tweaked to their advantage. Attempts to play down the exigencies of the worst crisis since the 1930s is bad; this, however, is worse. It is the clearest, most tangible evidence of the culture of casual, buccaneering amorality at the root of the near-collapse of the global financial system four years ago. As such, it is this that must be addressed. In such a context, the mud-slinging, party politicking, and barefaced expediency that has characterised the past week in Westminster should be seen for the sideshow it is.

Were the problems confined to Barclays, such concerns would not arise. But there are as many as 20 other banks under investigation over similar allegations. And, just as Libor is used as an international benchmark for interest rates, so inquiries into its manipulation, and the fallout from it, are spreading around the world. For all the new regulations in the aftermath of 2008, the global banking industry is yet to see changes remotely in proportion with the scale of the crisis it precipitated. The Libor scandal may just be the tipping point."

in full

http://www.independent.co.uk/opinion/leading-articles/leading-article-politics-is-a-distraction-from-the-libor-scandal-7924862.html

Why the LIBOR Scandal Matters: ‘Destruction of Confidence to the Nth Degree’

http://finance.yahoo.com/blogs/daily-ticker/why-libor-scandal-matters-destruction-confidence-nth-degree-144511452.html
Jul 10, 2012 at 9:07 PM | Unregistered CommenterLiberatedCitizen
This is a joke, right?
The SENATE is going to 'ask' BERNANKE and GEITHNER about the LIBOIR issue?

Goldman/Sachs-paid-for POLITICIANS are going to 'demsand' that Goldman/Sachs APOINTEES are going to 'divuldge' 'GOLDMAN?SACHS' 'priveledged information that might harm the international interests of the MIC 'Goldman/Sachs, AMEN, TPTB?

THANK GOODNESS that OBOMNEY/ ROMBAMA (#1 contributors, GOLDMAN//SACHS) are going to call for 'more accountability' in their respective 'next term(s).

This story has, indeed, restored my confidence in 'THE AMERICAN DREAM'.
I wave my flag, in the hopes that this WET DREAM of sex with the BANKERS will nsoon end.
Jul 11, 2012 at 1:26 AM | Unregistered CommenterMontgomeryScott
I heard that Boehner has a hangnail and the left side of Pelosi's lip exploded from her last botox treatment, so there will be no hearings in the Senate OR the House until after Timmy Geithner's new Lear jet is reupholstered with the skins of kidnapped children from the streets of Seattle and Vancouver B.C.. This meeting of the CONgress is sure to lead to further admonishments and investigations. The Bernanke and Timmy Geithner will think twice and do it again this time. I hear the committee members are actually going to LICK Geithner and The Bernanke this time. The FTC and SEC still have the nonstop CJ in full swing.
The total lack of sense of purpose in the investigating committee forced me to respond with the above trashy, sophomoric imagery of what is about to transpire in the LIBOR hearings. Apologies punctuated with mewling and sighs of hero worship is all we will get for our vote and our tax payments. The hard earned cash of investment and tax payments is still being shoveled out the back door to Europe in exchange for valueless derivative scrip repayment. Hang every poliTICK wearing a necktie just to be on the safe side.
Jul 11, 2012 at 1:36 AM | Unregistered CommenterHoward T. Lewis III
Great - another chance for senators to bump their bribe rates.

Reckoning that the "Idocracy" (Welcome to Costco, I love you) ain't `sposed to start for another generation or so .. gee wilickers .. the price of avarice requires the "beleiver" shed any sense of survival and reality,

Saw stretch job "Dispy Smellosy" on the tube declaring women elected congress were women of power. Okay we let them getaway with calling us consumers (go to work tomorrow and call your boss a consumer and see where it lands. But self ascribing themselves as persons of f*cking power? They're f*cking civil service employees. They f*cking work for us - we employ them - we pay millions a month so "Strech Job" can fly back to CA wheneve, to get get her pores sucked, in an air force jet.

They only power they have is the power we have authorized them to use. So what do they do - authorized themselves like they're some kind of f*cking zero brained low iodine Viceroy.

They're a crazy bunch of sick.f*cks, thats what they are - most of those faces have been slammed out from CSPAN for more than 20 f*cking years!

Thank you DIebold and Executive Ordering Bloodied Hand Prince of Peace!

BTW: If Dr Paul can get a plurality of delegates in Nebraska this weekend hes an official nominee for the office of president of the United States.

Only 450 Million for a RICO violation and counterfeiting of Trillions USD. Sh*t, Barclays probably pig in poked 500 times that into their coffer.

Contest: The Parliamentary Pussy Contest: Will US senators be more pussified questioning the son of father that employed Obumbi's mommy and our very famous counterfeiter in chif, Ben, the "Skank' Bernackiwacka? Poll immediately after the "allsrtar even : Briber Flesh Puppets vs Bribees.
Jul 11, 2012 at 4:25 AM | Unregistered CommenterThrob
I'm sure this will be equal to the "grilling" Dimon got...sporting his presidential cufflinks.
Jul 11, 2012 at 10:58 AM | Unregistered Commenterrobertsgt40
"Timmy Geithner's new Lear jet is reupholstered with the skins of kidnapped children from the streets of Seattle and Vancouver"

I almost pissed my pants reading that.

The Senate is full of shit, of course. Yesterday, the lowly North Carolina Utilities Commission disemboweled the CEO of the country's largest electric utility, Duke Energy. Not that the media noticed of course.

http://usabailout.com/content/duke-energy-ceo-caught-lying-under-oath-media-sleeps

The U.S. Senate couldn't even give Jamie Dimon a proper blowjob.
Jul 11, 2012 at 4:35 PM | Unregistered CommenterCheyenne
Cheyenne, here is a bit more...

Exclusive: Encana tipped off Chesapeake to land plans in Michigan - Emails

http://www.reuters.com/article/2012/07/11/us-chesapeake-encana-land-idUSBRE86A0G620120711


These land grabs are an important facet of the frauds going on...
Jul 11, 2012 at 4:50 PM | Unregistered Commenterjohn
It endangers my welfare every time I retell this, but it is true, so here goes. Back in 1969-1971, a group of us from Queen Anne High School in Seattle published an 'underground newspaper'. We wrote about anti-war and general interest themes, did all the offset work, and tried to break even at 10 cents a copy. A fellow named Gary did kiddy porn at this shop and since my family was well enough off, I was asked to help put Gary's ass in prison, which I was happy but apprehensive to do. It was known that some powerful government people in Seattle used Gary's pimp service. This guy provided children for sick parties at The Aloha apartments in Seattle for a local TV news personality. Some of Bush43's neocons attended these parties and used children for sex during the 1970s and 1980s, this from three of the children later and the owner of the print shop(now deceased).
Later, around 1982, Timmy Geithner could be found working closely with Richard Perle at times. Perle was working for U.S. Senator Henry Jackson during the Lowry/Evans special election race. The Vancouver Club was a topic of discussion and I could guess what that meant. The Vancouver Club catered to the lowest of the low. Did Richard Perle go there? Ask Doug Feith, Eliot Abrams, Paul Wolfowitz, and Dick Cheney. They certainly could tell you about the 1980s Vancouver Club in Vancouver, B.C.. So could Richard Perle but I do not want to be sued.
Gary did 2 1/2 years in prison, minimum.
Jul 11, 2012 at 6:07 PM | Unregistered CommenterHoward T. Lewis III
That's quite a story, HTL III. Is there any open-source info relating to any of that stuff?
Jul 11, 2012 at 8:35 PM | Unregistered CommenterPitchfork
Cheyenne, great story on the Duke Energy CEO. Is there any video of the pole-axing? Hunting for it now...
Jul 11, 2012 at 9:47 PM | Unregistered CommenterPitchfork
Not that I know of, Pitch, and don't even bother with local TV coverage, which was awful. And transcripts aren't available 'til maybe a week later.

What happened at yesterday's hearing was amazing, and yet relatively few people (unless they've been around legal proceedings for awhile) would have noticed it because there weren't any Perry Mason-style fireworks. Instead, the examiner maintained his monotone delivery, which frequently lulls witnesses into a false sense of calm that leads them into delivering extremely damaging testimony without even knowing it until it's too late. (This is an excellent deposition tactic; for trials, not so much.)

That's a long way of saying I can somewhat understand the weak TV coverage, which depends on explosive action for ratings. But for the print media to whiff altogether on THE event in the hearing--major CEO's credibility destroyed on central issue--absolutely stunned me.

HTL3--great story. However, Geithner's appearance therein would have put him at about 21 years old. Is that correct?
Jul 11, 2012 at 10:43 PM | Unregistered CommenterCheyenne
pitchfork, look up House of rep. Mike Lowry's staff as listed in the congressional quarterly for 1983. Don Wolgemont, Pat Taylor, Paul Elliott, John Burbank,and ask if they were on the Mike Lowry vs. Dan Evans special election campaign staff. Pat Taylor was there to see Geithner as well as more details about the Sen. Jackson neocon snake pit. The neocon ____s were not very welcome for the reasons I state as well as political noise. The personal stuff would have to be verified by the most adventurous of young souls and that would take me as a guide in Seattle. Some of the other witnesses are alive and well and established and wanting to forget, they understanding the wrath of the creeps at the top and wanting to avoid unpleasant memories. This was when D.F. was arrested for raping a 14 year old girl provided to him by her mother through a local satanic cult. The girl sued and the tax payers coughed up for the settlement. Isn't that special?
Cheyanne, I would have to say that at the time, Geithner appeared to be 17-21 years old. He was very shy and he stood out in my mind because his skull was the only head on the campaign that was larger than mine. When I was in fifth grade, my head was the largest in the school until Ricky B______ showed up. A size nine, at least. Geithner did some account work for Lowry of some kind. I do not know exactly what. He sure stuck close to Richard Perle. I can imagine Geithner's life in danger at this time. He snapped and was singing like a bird once recently. The FBI threw him out into the street. We need the FBI remanned starting at the top. They are dangerous and traitorous.
Jul 11, 2012 at 11:16 PM | Unregistered CommenterHoward T. Lewis III
Add this: Dan Mosely was campaign director. He, Burbank, and Pat Taylor, would be the ones to ask about this. Their memories would have to be oiled. (ie., be sly and persistent without being straight and to the point). These people are really into the social dominance game more than actually being virtuous. If the neocons did a 'Bavaria Grove' with actual human sacrifice, in their presence, they would pretend nothing happened
Pat could tell you the same things about Hitlery that I could. Hitlery is insane and a clear and present threat to good people everywhere. Six witnesses were interviewed by the FBI in Seattle concerning the pistol they found free of fingerprints on icnVe osterF. It was purchased under false pretenses at Seattle Hardware for the governor's wife with cash by a campaign worker against his own wishes and then illegally taken out of state. The FBI talked to me because I am the person who wrote down the serial numbers.
When you add up the skull and bones crowd, CIA, FBI, freemasons, Knights Templar, Knights of Malta, Rhodes scholars, and the jesuits surrounding Bill Gates and Bush41, you can see the nature of the financial and military sabotage attacks on the U.S since 9/11/2001. Most people use about 10% of their brain and believe the four lies their mothers tell them. The four lies that they are perfect, safe, pretty(or handsome) and smart, which leaves them comfortable in their little bubble nest not unlike a spittlebug, whose self confidence is dependent on the delusions of spit. What a mess.
Jul 11, 2012 at 11:48 PM | Unregistered CommenterHoward T. Lewis III
HTL3 and Pitchfork, in regard to your story of the Bush 43''s White House, it was common knowledge at the time.

http://www.wanttoknow.info/mind_control/19890629_washington_times_franklin_affair

There is a lot of stuff out there about it if you know where to look, I posted something on it once by Tom Flocco.

http://www.tomflocco.com/fs/PhotographerTied.htm
Jul 12, 2012 at 9:31 AM | Unregistered CommenterS. Gompers
I typoed, that would be Bush 41's.
Jul 12, 2012 at 9:37 AM | Unregistered CommenterS. Gompers
ooooooow...they're going to QUESTION (!) them! they must be so scared!
Jul 12, 2012 at 10:29 AM | Unregistered CommenterAnon Patriot
S. Gompers, thanx for back-up. Flocco is a spiritual focus from on high. Amazing true info from Flocco is the rule. Mrs. Gosch features a photo at her website, johnnygosch.com, that is of her son still dressed as he was when kidnapped, and two other boys, all three hogtied and ducttaped over their mouths. The other two boys have since vanished and had lived in Lynnwood Washington, just north of Seattle before their abductions. Photos exist of Johnny Gosch, mere weeks after his abduction, in the company of Bush41 in a group of people. Gosch appears drugged and groggy. I believe this photo of the three boys ties the Bush41/Larry King kidnapping ring to the Seattle neocons. psychological warfare clerk ASN usual mikel Akino(sp) was part of this group, as has been frequently mentioned in court and congressional hearings. Aquino used to be the head of the Church of Satan, and Bush41 and Bush43 were also linked to this group.
The video producer who filmed that snuff film was introduced as Hunter Thompson to survivors before the filming, but conflicting testimony that the video producer was not the political satirist who roasted Bush41, Bush43, and Nixon in his books and national media every chance he got. The video producer apparently looked much like HST but at least one witness said that Hunter S. Thompson was NOT the video maker present. Bonacci had been through unimaginable trauma and I do not discount his observations. I spent a lot of time on this one. The statement that after Thompson had insulted and exposed intense loathing for snakes like Bush41 and Nixon repeatedly in the national press, he filmed the murders of children with them defies logic and defies being an MO for Thompson. Bush41 was photographed with a kidnapped and doped up Johnny Gosch soon after his kidnapping, providing an MO for Bush41.
Thompson's neighbor in Aspen was Bani Sad'r.
Sad'r's large acreage next to Thompson would have enabled invasive access to Thompson's house where he had been suffering a painful terminal illness for years.
These are very bad people, and I know there are tens of thousands of soldiers out there who would like to be sure enough of testimonies to serve up extremely bad days to these creeps. Congress has become such a degenerate pack of worms that they should be served up for Iron Mike Tyson as sparring partners. The CFRtv wants immoral genetic slag congressional and presidential candidates to enable the coincidental rise of the NWO=OWO degenerates. Read Hunter S. Thompson's work on the likes of Bush41 and friends. He condemns them at every turn, as God would have it.
Jul 12, 2012 at 5:42 PM | Unregistered CommenterHoward T. Lewis III

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