Feds+FatCats Meetings and Subsequent Unusual Events

6 posts / 0 new
Last post
Thieving Corp.
Thieving Corp.'s picture
Offline
Joined: 07/14/2011
Hat Tips: 538
Posts: 147
Feds+FatCats Meetings and Subsequent Unusual Events

As I recall I am not the only one to have noticed the meeting that took place just before some unusual events happened in April:

Obama Talks Economy With Top Bankers Blankfein, Dimon, Moynihan
2013-04-11 18:22:37.407 GMT

By Dawn Kopecki and Margaret Talev
     April 11 (Bloomberg) -- President Barack Obama discussed
ways to bolster business confidence and economic growth during a
White House meeting with heads of the world’s biggest banks,
including Goldman Sachs Group Inc.’s Lloyd C. Blankfein and
JPMorgan Chase & Co.’s Jamie Dimon.
     The chief executive officers offered their ideas on
strengthening the recovery including promoting the rebound in
housing, enhancing education and training and clean energy
initiatives, according to a White House statement. The topics
also included reducing the budget deficit and reworking U.S.
immigration laws, the White House said.
     Also among the bank CEOs were Bank of America Corp.’s Brian
T. Moynihan, Citigroup Inc.’s Michael Corbat, American
International Group Inc.’s Robert Benmosche and Wells Fargo &
Co.’s John Stumpf, according to a list provided by the
administration. The bankers are in Washington for the Financial
Services Forum’s quarterly meeting.
      Jay Carney, the White House press secretary, declined to
give details about the conversation with the president. He said
the meeting was “part of our ongoing engagement with the
financial sector and with the business community.”
     Obama is seeking to rebuild relationships with top business
leaders as he seeks to create more jobs. Ties with bankers have
been strained by new U.S. curbs on fees and trading, and Obama’s
Nov. 6 re-election helped drive the KBW Bank Index to its worst
drop in five months the following day. The gauge has since
rebounded and is up 11 percent this year.

                           Budget Plan

     The closed-door meeting follows yesterday’s release of
Obama’s $3.8 trillion spending plan for fiscal 2014. The
blueprint, which the White House budget office says would
provide $1.8 trillion in additional deficit reduction over 10
years, includes collecting $580 billion more in taxes, mostly
from the wealthiest Americans.
     He again is seeking adoption of the Buffett rule, named for
billionaire investor Warren Buffett, to impose a 30 percent
minimum tax on households with more than $1 million in annual
income. The plan also would restrict tax deductions for top
earners and cap tax-favored retirement accounts of some private-
equity executives and self-employed professionals at $3 million.

...

Right after this on April the 12th and the 15th we saw some events out of the ordinary: the precious metals smackdown and the Boston bombing.

Now I see that another meeting has just taken place:

Blankfein Said to Be Among CEOs Meeting With Lew on U.S. Economy
2013-05-03 17:35:46.251 GMT

By Ian Katz
     May 3 (Bloomberg) -- U.S. Treasury Secretary Jacob J. Lew
met today with about 40 corporate and finance executives
including Goldman Sachs Group Inc. Chief Executive Officer Lloyd
Blankfein, Loews Corp. CEO James Tisch and Lazard Ltd. CEO
Kenneth Jacobs to discuss the global economy, a person who
attended the meeting said.
     The executives discussed the U.S. and European economies,
housing finance, tax reform and cybersecurity at the event in
New York, the person said, asking not to be identified because
the conversation was private. The meeting was hosted by the
Partnership for New York City and Time Warner Inc. Chairman
Jeffrey Bewkes.
     President Barack Obama’s relationship with Wall Street has
been rocky at times, with the president referring to “fat cat
bankers” in 2009 and his campaign last year running ads
attacking Republican nominee Mitt Romney’s record as co-founder
and CEO of Bain Capital Partners LLC.
     Lew met yesterday in New York with executives including
JPMorgan Chase & Co. CEO Jamie Dimon, billionaire hedge-fund
manager John Paulson, Blackstone Group LP CEO Stephen Schwarzman
and CEO Leon Black of buyout firm Apollo Global Management LLC.
Paulson also attended today’s meeting.
     Others who participated in the discussion today include H.
Rodgin Cohen, senior chairman of Sullivan & Cromwell LLP;
Charles Kaye, co-president of Warburg Pincus LLC; Phil Kent,
chairman of Turner Broadcasting System Inc.; and Jacques Brand,
CEO for North America at Deutsche Bank AG.

I expect all have heard by now of the unusual rumour of allegations that also came out today:

May 3 (Bloomberg) -- JPMorgan Chase & Co. was warned by
U.S. energy-market authorities that they may take action against
its employees as part of an inquiry into bidding practices, the
New York Times said, citing a document it reviewed.
     Enforcement officials at the Federal Energy Regulatory
Commission plan to recommend the agency hold traders and
commodities-unit chief Blythe Masters “individually liable,”
the newspaper reported, citing a 70-page document the agency
sent the New York-based bank in March. Investigators said
Masters falsely denied awareness of problems, the Times said.

...

One more anecdotal tidbit: two of my credit cards from different issuers just gave me brand new account numbers "to reduce the possibility of fraud occurring on my account."

The question is: what are they cooking up this time?

My current guess is some sort of financial disruption under cover of a "cyberattack against banks" paired with some other equally or greater attention-grabbing events.

Post your guesses below.

Edited by admin on 11/08/2014 - 06:24
Thieving Corp.
Thieving Corp.'s picture
Offline
Joined: 07/14/2011
Hat Tips: 538
Posts: 147
Thanks Jake Re: BEWARE: Monday Is May 6th!

Thanks to JakeBlues for reminding us that Monday is May 6th, the anniversary of the May 6, 2010 Flash Crash.

http://www.tfmetalsreport.com/comment/306781#comment-306781

Mariposa de Oro
Mariposa de Oro's picture
Offline
Joined: 07/08/2011
Hat Tips: 1514
Posts: 206
What are they up to?

I suspect they'll give the less dumb masses a sacrificial lamb and maybe slap a few hands.  Then they can say they've dealt with the 'problem' and put it too bed.  Should anyone dare not go along with the story, they'll be labeled 'conspiracy theorists' and eventually domestic terrorists when the whole thing implodes.  Until then, let the pillaging continue....

ltcolkilgore
ltcolkilgore's picture
Offline
Joined: 12/06/2012
Hat Tips: 1677
Posts: 166
Credit card #s

FWIW - If I remember correctly, a very large database of numbers was hacked and/or compromised recently... This was mainstream news a ways back but the risk was down played, yet thousands of cards have been replaced. All of our cards were replaced last week including debit cards through our bank... These were MasterCards but I do not know if they were they only ones affected...

__________________

Blessed be the Lord my strength which teacheth my hands to war, and my fingers to fight: My goodness, and my fortress; my high tower, and my deliverer; my shield, and he in whom I trust...
Psalm 144

AstroTurd
AstroTurd's picture
Offline
Joined: 06/14/2011
Hat Tips: 98
Posts: 42
Platoon

I love the smell of burning paper metals in the morning...

__________________

Yeah, that's funny, yea.
Burt

Thieving Corp.
Thieving Corp.'s picture
Offline
Joined: 07/14/2011
Hat Tips: 538
Posts: 147
"She has been set up, period."

A couple of updates:

As I noted above, I believe there is a connection to the FERC JPM investigation.

Now check out the latest Keiser Report:

Paraphrasing:

  • NYTimes articles mentions the names Madoff and Enron along that of BM
  • The investigation is over $85 million, which is "nothing, absolutely nothing, compared with the billions the bankers stole from the people"
  • "Something very very bizarre is going on"
  • "BM would not have been able to sell the CDS without the Fed. Govt. approval, so this is fraud at the state level, never forget that"
  • "Timing of the NYT piece: now is the JPM shareholder meeting in NY, there are calls for JD's ouster, the timing is not innocent at all"
  • "She is English, not American. BM will be the perfect case to throw someone to the wolves"

Regarding the last point, note how all the banks that have gathered sensationalistic headlines lately are "foreign" (UBS, RBS, Barclays, HSBC, etc.) while every effort has been made to portray the American banks as "not as bad."

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "Feds+FatCats Meetings and Subsequent Unusual Events"