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Banksters worry Congress will ask the right questions

with one comment

Today’s commentary by David Reilly at Bloomberg.com has an alarming (if not surprising) header: Secret Banking Cabal Emerges From AIG Shadows. Now it’s not just conspiracy-nuts or fringe Congressmen who are wondering why and how so much power-without-oversight has been given to the NY Fed et al,  just what they have been doing with it, and how so many profited from the meltdown of AIG.

Reilly notes:   “…when it became clear information would be disclosed, New York Fed legal group staffer James Bergin e-mailed colleagues saying: “I have to think this train is probably going to leave the station soon and we need to focus our efforts on explaining the story as best we can. There were too many people involved in the deals — too many counterparties, too many lawyers and advisors, too many people from AIG — to keep a determined Congress from the information.”

Think of the enormity of that statement. A staffer at a body with little public accountability and that exists to serve bankers is lamenting the inability to keep Congress in the dark.”

Oh yes. Think!

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Written by laudyms

January 29, 2010 at 3:49 pm

One Response

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