The Confidential Memo at the Heart of the Global Financial Crisis

[no_hypocrisy]

The Memo confirmed every conspiracy freak’s fantasy: that in the late 1990s, the top US Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet. When you see 26.3 percent unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears.

The Treasury official playing the bankers’ secret End Game was Larry Summers. Today, Summers is Barack Obama’s leading choice for Chairman of the US Federal Reserve, the world’s central bank. If the confidential memo is authentic, then Summers shouldn’t be serving on the Fed, he should be serving hard time in some dungeon reserved for the criminally insane of the finance world.

The memo is authentic.

-snip-

But what was the use of turning US banks into derivatives casinos if money would flee to nations with safer banking laws?

The answer conceived by the Big Bank Five: eliminate controls on banks in every nation on the planet -- in one single move. It was as brilliant as it was insanely dangerous.

-more-

http://www.vice.com/en_uk/read/larry-summers-and-the-secret-end-game-memo



They Actually Expect Us To Have Faith In These Financial Markets After This Week?

http://theeconomiccollapseblog.com/archives/they-actually-expect-us-to-have-faith-in-these-financial-markets-after-this-week

[snappyturtle]

1. I understand what was done and revealed in the memo

exposed by Greg Palast. Why is that memo not enough to
not only keep Summers far from consideration as chairman
of the Federal Reserve and put him into prison?

I'm surprised not to hear that Elizabeth Warren is not
using the existence of this memo to formulate good reason
to cast Summer's candidacy aside. ??????