Excerpt: "PROJECT ANTHRAX & THE COVER-UP"
Source - http://www.corpwatch.org/article.php?id=14995
The Blackstone Group, a major private equity firm tied to foreign policy influence lobbying groups such as Kissinger Associates, Scowcroft Advisors, and the Madeline Albright Group, had an affiliated spinoff company, BlackRock, a Caymans Island foreign bank associate, evaluate the “fairness” to shareholders of the JP Morgan Acquisition of Bear Stearns. The deal involved a bailout of Bear Stearns creditors directly, and indirectly through cash infusions via the Fed’s open window of lending, including lending billions to Citibank in exchange for mortgage collateral. The lead negotiator of the deal, the President of the NY Fed, Geithner, is a former employee of Kissinger Associates, a Saudi-China lobbying firm, and was appointed to the Fed by Peter Peterson of Blackstone. He also worked for Secretary Rubin at the Clinton Treasury Department. Secretary Rubin is now an executive with Citibank a major beneficiary of the bailout. Citibank has major Saudi shareholders, and as such is not an American bank, per se. Citibank has been investigated for illegal terrorist money laundering activities in the Middle East, and Geithner was an employee at Kissinger Associates when it was engaged in discussions of mergers with BCCI, which was later indicted for drug money laundering.
1988: Blackstone forms BlackRock as mortgage investment subsidiary. Its CEO is Peter Peterson, also CEO of the Council on Foreign Relations, for which Henry Kissinger, Brent Scowcroft, and Robert Rubin are officers.
1986: East Asian International economic specialist, Timothy Geithner joins Kissinger and Associates, a major Chinese Financial lobbying firm with strong ties to the Kingdom of Saudi Arabia. At the time both Kissinger and Brent Scowcroft are partners, as well as international economist Alan Stoga. It is not clear whether Geithner worked with Stoga at this time, but his expertise in China would be welcome in its China Joint Venture.
1986-1989: Kissinger Associates, Stoga and consultant ambassador Sergio Correa discuss a merger between BCCI and Kissinger Associates. Correa acts as a front man for BCCI in acquisition explorations as a paid retained consultant to both BCCI, and separately to Kissinger Associates. toga arranges contacts between BCCI Saudi linked executives Gaith Pharaon and Abol Helmy. It is not known whether Geithner worked on these transactions.
c. 1989: BCCI is indicted and Kissinger Associates ends discussions.
Geithner leaves Kissinger Associates and begins work as a civil servant in the Treasury Department. He is confirmed as Asst. Sec. for International Affairs in Treasury working for Secretary Rubin of the Clinton Administration.[Senior executive at Goldman Sachs and later Citibank a Saudi controlled foreign bank]. Rubin also serves as an officer of the CFR managed by Peter Peterson CEO of Blackstone.
1992 BlackRock is spinoff Blackstone and becomes independent.
2001: Geithner joins International Monetary Fund IMF.
2003: Blackstone CEO Peter Peterson names Geithner as President of the New York Federal Reserve Bank.
2007 Peterson’s Blackstone sells 3 Billion dollar stake in Blackstone to the People’s Republic of China.
2007 Rubin ‘s Citibank receives billions in bailout loans in exchange for mortgage collateral.
March 2008: Blackrock creates firm to buy distressed mortgage securities.
April 3, 2008: Blackstone mentioned as advisor to Bear Stearns valuation, later amended to be Blackrock, founded by Blackstone.
Bernanke Defends Fed's Role in Bear Stearns Deal http://www.pbs.org/newshour/updates/business/jan-june08/fed_04-03.html
BCCI AND KISSINGER ASSOCIATES, Congressional Report, 1992, http://www.fas.org/irp/congress/1992_rpt/bcci/20kiss.htm
BlackRock set to profit from Mortgage Distress Bailout, The new company has been formed by BlackRock, Highfields, and a management team of mortgage industry led by Stanford Kurland, Private National Mortgage Acceptance Company's (PennyMac) chairman and CEO. PennyMac will raise capital from private investors, acquire loans from financial institutions seeking to reduce its mortgage exposures, and seek to create value for both borrowers and investors through distinctive loan servicing. http://www.banking-business-review.com/article_news.asp?guid=17D0DB88-3917-44F6-AFF3-1D1AECC10E77
New York Fed Names Timothy F. Geithner President
Saturday, February 7, 2009
SCAM: BEAR STEARNS - TIMOTHY GEITHNER AND THE BLACKSTONE-BCCI SET UP
Posted by Alex Constantine at 1:32 AM
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The story of BCCI is quite the clusterfuck. The founder of BCCI, Abedi, had relationships with pretty much anyone who was anyone in the world, all the way from the highly-placed bin-Laden family and their associates in Saudi Arabia to our own dear Jimmy Carter and the Ford Family. It's quite a fascinating story.
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