History of Lehman Bros, Fanny Mae & Freddie Mac

Clawhammer · Apr 25, 2011

for those with a little spare time

http://www.doctorhousingbubble.com/...istory-that-goes-beyond-the-great-depression/

http://www.doctorhousingbubble.com/...ollywood-story-of-fannie-mae-and-freddie-mac/

JulieW · Apr 25, 2011

If you're up for some reading then the venerable Rolling Stone article is worth a bit of study. But be warned, this article makes you want to reenact the French Revolution with Wall Street in the Tumbrils and CEO heads filling the baskets en masse.

http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405

The Great American Bubble Machine From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression -- and they're about to do it again
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sample:

After playing an intimate role in four historic bubble catastrophes, after helping $5 trillion in wealth disappear from the NASDAQ, after pawning off thousands of toxic mortgages on pensioners and cities, after helping to drive the price of gas up to $4 a gallon and to push 100 million people around the world into hunger, after securing tens of billions of taxpayer dollars through a series of bailouts overseen by its former CEO, what did Goldman Sachs give back to the people of the United States in 2008?

Fourteen million dollars.

That is what the firm paid in taxes in 2008, an effective tax rate of exactly one, read it, one percent. The bank paid out $10 billion in compensation and benefits that same year and made a profit of more than $2 billion yet it paid the Treasury less than a third of what it forked over to CEO Lloyd Blankfein, who made $42.9 million last year.
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p.s and reach for the prozac first before you read the rest of:

Barack Obama, a popular young politician whose leading private campaign donor was an investment bank called Goldman Sachs its employees paid some $981,000 to his campaign sits in the White House. Having seamlessly navigated the political minefield of the bailout era, Goldman is once again back to its old business, scouting out loopholes in a new government-created market with the aid of a new set of alumni occupying key government jobs.

Gone are Hank Paulson and Neel Kashkari; in their place are Treasury chief of staff Mark Patterson and CFTC chief Gary Gensler, both former Goldmanites. (Gensler was the firm's co-head of finance.) And instead of credit derivatives or oil futures or mortgage-backed CDOs, the new game in town, the next bubble, is in carbon credits a booming trillion dollar market that barely even exists yet, but will if the Democratic Party that it gave $4,452,585 to in the last election manages to push into existence a groundbreaking new commodities bubble, disguised as an "environmental plan," called cap-and-trade.

The new carbon credit market is a virtual repeat of the commodities-market casino that's been kind to Goldman, except it has one delicious new wrinkle: If the plan goes forward as expected, the rise in prices will be government-mandated. Goldman won't even have to rig the game. It will be rigged in advance.

Here's how it works: If the bill passes, there will be limits for coal plants, utilities, natural-gas distributors and numerous other industries on the amount of carbon emissions (a.k.a. greenhouse gases) they can produce per year. If the companies go over their allotment, they will be able to buy "allocations" or credits from other companies that have managed to produce fewer emissions. President Obama conservatively estimates that about $646 billion worth of carbon credits will be auctioned in the first seven years; one of his top economic aides speculates that the real number might be twice or even three times that amount.

The feature of this plan that has special appeal to speculators is that the "cap" on carbon will be continually lowered by the government, which means that carbon credits will become more and more scarce with each passing year. Which means that this is a brand new commodities market where the main commodity to be traded is guaranteed to rise in price over time. The volume of this new market will be upwards of a trillion dollars annually; for comparison's sake, the annual combined revenues of all electricity suppliers in the U.S. total $320 billion.
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Coins4me · Apr 25, 2011

Wow...just wow! My government is ever so much faster and increasingly leaving a sick and sour feeling in my stomach. It amazes me how much truer and more accurate the insights I get into my own governenment from this website than I do my own country's news organzitaions....I think I need to acquire a passport.

edited to add....and PROZAC

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History of Lehman Bros, Fanny Mae & Freddie Mac

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History of Lehman Bros, Fanny Mae & Freddie Mac

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