In an earlier post I laid out how my distrust of conspiracy theories is being severely challenged by our government and what appears to be a naked power grab. I am loath to continue in this vein for fear of being labeled the nut job who writes about Area 51 and Men in Black. But my tin foil hat fits well and the strange shenanigans continue unabated at the government level.
WASHINGTON – The former chief risk officer at investment bank Bear Stearns Cos., which nearly collapsed in March, is now a senior official of the Federal Reserve division that supervises U.S. banks.
Michael Alix, who worked at Bear Stearns for 12 years and was its senior risk manager since 2006, was named a senior vice president in the bank supervision group of the Federal Reserve Bank of New York, the Fed announced. (emphasis mine)
So, just to make sure I am getting this straight: the senior man in charge of assessing risk for a company that… failed miserably in its risk assessments (costing billions) will now “help oversee the financial safety and soundness of banks.”
What?
We (the taxpayers) pledged $29 billion to backstop the sale of Bear Stearns to JP Morgan and the government hires the individual originally tasked with preventing such meltdowns and puts him in charge of evaluating bank risks?
Each time I find myself with tin foil hat in hand, I think it only prudent to end the post the same way I did that first one: I am no longer confused… I am scared. Are you? Are you paying attention?
Eric Bramlett says:
We’re living in a wacky alternate reality. For real.
November 5, 2008 — 2:34 pm
JB in SD says:
WOW
November 5, 2008 — 2:54 pm
Todd says:
“Ready on Day One”
WASHINGTON January 21, 2009
Newly inaugurated President Obama has removed Michael Alix from his position at the Federal Reserve effective immediately.
Alix, who is facing several dozen felony charges including conspiracy to defraud the taxpayers, collusion, and theft by deception, had no comment and his team of lawyers said their client is innocent of most of the charges…
November 5, 2008 — 3:27 pm
Sean M. Broderick, CCIM says:
40 to 1 leverage creates a large shark tank filled with veterans playing with “house” money..
November 5, 2008 — 3:46 pm
Chris says:
Being from CT, Chris Dodd is another who I would love to see voted out. He was in charge of the banking committee while all this was going on. Now that its blown up he said well gee I need some more money and power. It takes balls to say that.
Lets give all the people who screwed up more money and power, now thats a good solution!
November 5, 2008 — 4:00 pm
Thomas Johnson says:
Change! Hope!
NOPE!
November 5, 2008 — 6:03 pm
Thomas Johnson says:
Put on your tin foil hat before reading this comment. hope that I do not endanger any Bloodhounds with this information.
Google Daniel Estulin and The Bilderberg Group
http://www.bilderberggroup.net/
The over leverage and collapse has accelerated the takeover of democratic societies in favor of the one world order. First, the euro zone and now the USA. Putin is probably a wild card that worries them. I hope they allow the practice of real estate brokerage in the new order.
Now if the voices in my head would just stop…
November 5, 2008 — 8:00 pm
Jonathan Blackwell says:
What a freakin sideshow. I’m ready for a house cleaning, Bernanke included.
November 5, 2008 — 8:05 pm
Tom Vanderwell says:
Sean,
You are very justified on being concerned. We are truly in historic times and saying we are in historic times is like saying that World War II was a “historic time.” It was, but it wasn’t pretty.
How’s it all going to end? Anyone who tells you they know is either lying, drinking someone else’s koolaid, or trying to sell a book.
One day at a time, one day at a time.
Tom
November 5, 2008 — 8:44 pm
Joe Hayden says:
I would say having Paulson as the Treasury Secretary scares me even more than this fellow. Possibly worse is ole Barney Frank, and I do want to give an honorable mention to Dodd.
Never forget, if it wasn’t accomplished with the ultimate threat of deadly force, these men would never, ever in the civilian business world be allowed to pull the twisted accounting and governance practices that have led America to the financial brink. It will get worse. They are already shoring up the World’s financial markets again with our fiat money, and the cycle has begun anew with a few additional zeros tagged on the end. The math eventually doesn’t work…
For fun, research this name as completely as you are able on the internet… Peter G. Peterson. Add search terms such as “Blackstone Group” and “Council on Foreign Relations”. This is one of the World’s most powerful men, the top of the elite. Never in the mainstream news, yet was paid the highest salary last year of any American business executive. This is literally “the man behind the curtain”…
PS It isn’t a conspiracy to these types, it’s just good business.
November 6, 2008 — 12:25 am
John Sabia says:
AMEN
November 6, 2008 — 8:26 am
JDallas says:
This is an example of cronyism at it’s worst. Essentially rewarding people for catastrophic failure.
November 6, 2008 — 10:05 am
Jeff Brown says:
Boiled down, what emerges is the power grabbing, albeit bloodless coup of Village #1.
Guard your fish carefully.
November 7, 2008 — 2:43 pm
Dan Nappi says:
Well until we the people make our voices heard, stuff like this will continue by our government. Good work if you can get it.
November 8, 2008 — 11:45 am