Secret Banking Cabal Emerges From AIG Shadows: David Reilly

[WhiskeyGirl]

Jan. 29 (Bloomberg) -- The idea of secret banking cabals that control the country and global economy are a given among conspiracy theorists who stockpile ammo, bottled water and peanut butter. After this week’s congressional hearing into the bailout of American International Group Inc., you have to wonder if those folks are crazy after all.

Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials.

The hearing before the House Committee on Oversight and Government Reform also focused on what many in Congress believe was the New York Fed’s subsequent attempt to cover up buyout details and who benefited.

By pursuing this line of inquiry, the hearing revealed some of the inner workings of the New York Fed and the outsized role it plays in banking. This insight is especially valuable given that the New York Fed is a quasi-governmental institution that isn’t subject to citizen intrusions such as freedom of information requests, unlike the Federal Reserve.

This impenetrability comes in handy since the bank is the preferred vehicle for many of the Fed’s bailout programs. It’s as though the New York Fed was a black-ops outfit for the nation’s central bank.

I always thought the New York Fed was the same as the Federal Reserve. 

That the New York Fed, a quasi-governmental body, was able to push around the SEC, an executive-branch agency, deserves a congressional hearing all by itself.

Later, 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.”

read more of this sad story here -  http://www.bloomberg.com/apps/news?pid=20601039&sid=aaIuE.W8RAuU

Too many conflicting interests?

[WhiskeyGirl]

Here is the link for the counterparties document -

http://www.foxbusiness.com/story/markets/controversial-aig-b-counterparty-documents-released/

Who owns all those investments?  Names? 

Isn't it possible there are some conflicts of interest? 

The list is fine, but who is in the curtains behind the line detailed investments?

Where are the names?  This looks like a distraction.

Surely, there are details somewhere? 

Are these the investments of drug dealers?  Dictators?  Congressmen?  Presidents?