CFR Corporate Members Get Lion's Share of Bailout Funds

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DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
CFR Corporate Members Get Lion's Share of Bailout Funds

Excerpts  (Full Article at the New American)

The man in charge of administering the bailouts is Treasury Secretary Timothy Geithner, who served as a staff member of the New York City-based Council on Foreign Relations before being hired in 2003 to head the New York City branch of the Federal Reserve Bank (Fed). As the vice chairman of the Fed’s Open Market Committee, Geithner is probably a poor choice to get the nation out of it’s current economic mess. He served as Alan Greenspan’s number two man at the Fed, so Geithner is as responsible as anyone for facilitating the severity of the real estate and financial bubble and its subsequent collapse. After all, the Fed was the driving force behind the asset bubble, inflating the bubble larger and larger through artificially low interest rates and an inflationary easy-money policy.

Under Geithner and his predecessor (former Goldman Sachs CEO Henry “Hank” Paulson), the majority of bailout funds have been awarded to high-level donors to Geithner's former employer: the Council on Foreign Relations (CFR).

Here’s a survey of  TARP bailout awards to the CFR’s corporate members (there are a total of only a little more than 200 corporate members at all levels): 

Among the “Founders,” those who give $100,000 or more to the CFR, can be found:

  • American Express Company: $3.389 billion TARP
  • Goldman Sachs: $10 billion TARP, plus a separate Federal Reserve bailout and more than $13 billion of the allotment to AIG (below)
  • Merrill Lynch: $45 billion through its corporate parent, Bank of America, which is also a CFR Premium corporate member, plus $6.8 billion of AIG’s bailout funds

“President’s Circle” CFR members ($60,000 or more) received the following bailout funds:

  • American International Group (AIG): $182 billion in total TARP/TALF funds to date
  • Citibank: $50 billion TARP
  • Morgan Stanley: $10 billion TARP

Premium members ($30,000 or more to CFR):

  • Bank of New York/Mellon Corporation: $3 billion TARP
  • Freddie Mac: Sharing with Fannie Mae $1.25 trillion — that’s $1,250 billion — in mortgage securities being purchased from the Federal Reserve Bank
  • Chrysler: $4 billion TARP, plus $1.5 billion TARP for Chrysler Financial
  • JP Morgan Chase: $25 billion TARP
  • CIT Group: $2.33 billion TARP

That’s a total of more than $1 trillion in bailout funds for CFR corporate members, easily the lion’s share of the total bailout funds awarded to date. CFR Membership seems to have its benefits, and then some.

So why is no one asking questions about why most of the funds are going to the former employers of our Treasury secretaries? Perhaps because many of the entities who should ask "why" are also CFR corporate members. Among the financial press, the CFR counts among its members Bloomberg, General Electric (NBC, CNBC, MSNBC), News Corporation (Fox, Fox Business), Standard and Poor's, ABC News, Time Warner (CNN, Time magazine, etc.), Moody's, and McGraw Hill (book publishers).

Somebody should ask the question why the same people who brought us this financial crisis are now bringing us the "cure," and why that cure necessarily involves financing former employers of the people making the decisions.

LogansRun's picture
LogansRun
Status: Diamond Member (Offline)
Joined: Mar 18 2009
Posts: 1444
Re: CFR Corporate Members Get Lion's Share of Bailout Funds
DrKrbyLuv wrote:

Excerpts  (Full Article at the New American)

The man in charge of administering the bailouts is Treasury Secretary Timothy Geithner, who served as a staff member of the New York City-based Council on Foreign Relations before being hired in 2003 to head the New York City branch of the Federal Reserve Bank (Fed). As the vice chairman of the Fed’s Open Market Committee, Geithner is probably a poor choice to get the nation out of it’s current economic mess. He served as Alan Greenspan’s number two man at the Fed, so Geithner is as responsible as anyone for facilitating the severity of the real estate and financial bubble and its subsequent collapse. After all, the Fed was the driving force behind the asset bubble, inflating the bubble larger and larger through artificially low interest rates and an inflationary easy-money policy.

Under Geithner and his predecessor (former Goldman Sachs CEO Henry “Hank” Paulson), the majority of bailout funds have been awarded to high-level donors to Geithner's former employer: the Council on Foreign Relations (CFR).

Here’s a survey of  TARP bailout awards to the CFR’s corporate members (there are a total of only a little more than 200 corporate members at all levels): 

Among the “Founders,” those who give $100,000 or more to the CFR, can be found:

  • American Express Company: $3.389 billion TARP
  • Goldman Sachs: $10 billion TARP, plus a separate Federal Reserve bailout and more than $13 billion of the allotment to AIG (below)
  • Merrill Lynch: $45 billion through its corporate parent, Bank of America, which is also a CFR Premium corporate member, plus $6.8 billion of AIG’s bailout funds

“President’s Circle” CFR members ($60,000 or more) received the following bailout funds:

  • American International Group (AIG): $182 billion in total TARP/TALF funds to date
  • Citibank: $50 billion TARP
  • Morgan Stanley: $10 billion TARP

Premium members ($30,000 or more to CFR):

  • Bank of New York/Mellon Corporation: $3 billion TARP
  • Freddie Mac: Sharing with Fannie Mae $1.25 trillion — that’s $1,250 billion — in mortgage securities being purchased from the Federal Reserve Bank
  • Chrysler: $4 billion TARP, plus $1.5 billion TARP for Chrysler Financial
  • JP Morgan Chase: $25 billion TARP
  • CIT Group: $2.33 billion TARP

That’s a total of more than $1 trillion in bailout funds for CFR corporate members, easily the lion’s share of the total bailout funds awarded to date. CFR Membership seems to have its benefits, and then some.

So why is no one asking questions about why most of the funds are going to the former employers of our Treasury secretaries? Perhaps because many of the entities who should ask "why" are also CFR corporate members. Among the financial press, the CFR counts among its members Bloomberg, General Electric (NBC, CNBC, MSNBC), News Corporation (Fox, Fox Business), Standard and Poor's, ABC News, Time Warner (CNN, Time magazine, etc.), Moody's, and McGraw Hill (book publishers).

Somebody should ask the question why the same people who brought us this financial crisis are now bringing us the "cure," and why that cure necessarily involves financing former employers of the people making the decisions.

The only people/organizations that could ask the HARD questions and have 95% of the populace see/hear the theft that's taking place are exactly as you pointed out.....owned by the people that are stealing our futures and enslaving us with debt!  Evil in every way.  Until the people educate themselves and move against this evil I have little hope for our futures as Americans nor Human Beings.

End the Fed!  End the NWO!

DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: CFR Corporate Members Get Lion's Share of Bailout Funds

LogansRun said:

The only people/organizations that could ask the HARD questions and have 95% of the populace see/hear the theft that's taking place are exactly as you pointed out.....owned by the people that are stealing our futures and enslaving us with debt!  Evil in every way.  Until the people educate themselves and move against this evil I have little hope for our futures as Americans nor Human Beings.

Couldn't agree more.  People need to wake up in mass in order to take our country and freedom back.  In a way, what we are seeing is the tyranny of an ignorant majority who refuse to be vigilant and responsible. 

Some of them just don't have enough confidence in their own research and analysis and they prefer to be herded by a reassuring group think.  Some are strongly against contrarian views and they find offense when others think on their own.  They use the knee jerk cliches like "conspiracy theory" or "tin foil" to dismiss logic and evidence.  The reward is the smug reassurance of the herd.

Larry   

LogansRun's picture
LogansRun
Status: Diamond Member (Offline)
Joined: Mar 18 2009
Posts: 1444
Re: CFR Corporate Members Get Lion's Share of Bailout Funds
DrKrbyLuv wrote:

LogansRun said:

The only people/organizations that could ask the HARD questions and have 95% of the populace see/hear the theft that's taking place are exactly as you pointed out.....owned by the people that are stealing our futures and enslaving us with debt!  Evil in every way.  Until the people educate themselves and move against this evil I have little hope for our futures as Americans nor Human Beings.

Couldn't agree more.  People need to wake up in mass in order to take our country and freedom back.  In a way, what we are seeing is the tyranny of an ignorant majority who refuse to be vigilant and responsible. 

Some of them just don't have enough confidence in their own research and analysis and they prefer to be herded by a reassuring group think.  Some are strongly against contrarian views and they find offense when others think on their own.  They use the knee jerk cliches like "conspiracy theory" or "tin foil" to dismiss logic and evidence.  The reward is the smug reassurance of the herd.

Larry   

DKL,

I agree again!  It's disgusting to watch the soccer moms and dads run around in their mini vans, spending as usual and not taking the time to educate themselves on the world we live in at this time.  I go to the gym in which there are 12 TV's on the wall in front of the cardio equipment and each TV has something different.  The CNBC area is empty where as the View, Oprah, etc...are full of people staring at them in a TV coma.  Dumbing down of America at it's finest.  BTW, I don't like CNBC in any way but if I have a choice..that's it. 

Until the sheeple become people again, we will continue to be the small minority and have nothing to do but to continue to educate and hope that the message will eventually get through.  I don't have much hope.  If this crisis (financial meltdown) didn't do it.....don't know what would. 

And I wish the term "Conspiracy Theory" would be put to rest.  I've said it before and I'll say it again...it's "Conspiracy REALITY".  It's so damn plain and obvious I don't understand how ANYONE can't see! 

Keep up the great posts.  Education = Freedom

rowmat's picture
rowmat
Status: Gold Member (Offline)
Joined: Nov 15 2008
Posts: 358
Re: CFR Corporate Members Get Lion's Share of Bailout Funds
LogansRun wrote:

...And I wish the term "Conspiracy Theory" would be put to rest.  I've said it before and I'll say it again...it's "Conspiracy REALITY".  It's so damn plain and obvious I don't understand how ANYONE can't see! 

Keep up the great posts.  Education = Freedom

What is a conspiracy theorist?

You'd be surprised to discover how many actually believe that a conspiracy theorist is in someway 'the' conspirator.

The population has been so dumbed down over decades and brainwashed whenever a real conspiracy has occurred into thinking those that don't believe the official story are in fact the bad eggs or nut cases to be avoided at all costs.

Yes and there are plenty of 'conspiracy theorists'  who are nut cases.

Many people who personally even believe there's a 'rat in the pantry' often don't speak up and voice their opinion for fear of being labeled a conspiracy theorist and therefore, a 'nutter'.

But not everyone who doesn't accept the 'official story' has a bolt loose.

'Conspiracy theorists' have been accused of everything from being unpatriotic, to being terrorists.

Overtime history has revealed to us that most major critical events ie., wars, assassinations, major financial catastrophes etc are indeed conspiracies.

It often take decades for the truth to come out but it invariably does.

The WW1 sinking of the Lusitania, the 1929 stock market crash, the warning about the imminent attack on Pearl Harbor two days before it occurred, the Gulf of Tonkin incident (Vietnam), the JFK assassination, Operation Northwoods, 9/11 (the evidence of a government cover up is overwhelming) the current financial crisis.

All of these events demonstrate a mixture of criminal activity, fraud, deceit, and deliberate cover up and have been officially exposed as such with the exception of 9/11 and the current situation. I predict time will reveal the truth about both of the latter incidents.

In reality a 'conspiracy theorist' is just someone who doesn't accept the official story and has a theory(s) as to what may have happened instead.

If you don't believe your teenage child's story about why they didn't come home all night are you a 'conspiracy theorist'?

No one would accuse of being one under that situation.

But if you don't believe your own government, which as history shows us, regularly lies to it's people, then you are classified as a CT.

I think the term 'conspiracy theorist' should be changed to 'Truth Seeker'.

Are you then going to be called a nut case for seeking truth?

Probably, because those with the most to lose will continue use term 'conspiracy theorist' because in the eyes of much of the public it implies nut case!

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