FOIA Disclosure Busts Paulson, Geithner And Bair
posted on
May 13, 2009 06:21PM
Wednesday, May 13, 2009
Posted by Tyler Durden at 7:34 PM
Judicial Watch, which lucked out majorly on a FOIA request to the Treasury, has received several hundred pages of stunning revelations, among which are that Hank Paulson essentially used the same tactics that he used on Ken Lewis on a group of nine bankers at the October 13 meeting which apportioned government investments to the various "critical" banking institutions. The major disclosure was captured in a memo called CEO Talking Points, which delineates the continuous use of strongarming tactics by not just Paulson, but by Tim Geithner, and Sheila Bair, who were also present at the meetings. According to one of the Talking Points:
“If a capital infusion is not appealing, you should be aware that your regulator will require it in any circumstance. We don’t believe it is tenable to opt out because doing so would leave you vulnerable and exposed.”
Among the banking CEOs who were forced into a pre-envisioned arrangement were:
- Ken Lewis (BofA)
- Vik Pandit (Citi)
- Lloyd Blankfein (GS)
- Jamie Dimon (JPM)
- John Thain (ML)
- Robert Kelley (BONY)
- Ronald Logue (SS)
- John Mack (MS)
- Richard Kovacevich (WFC)
The rest is here
http://zerohedge.blogspot.com/2009/0...
