“New York Fed Chairman Indicted on Insider trading and SEC Violations: Timothy Geithner Next!”

That is what the headlines should have looked like Friday. That would be if we lived in a logical, sane, and just country. Instead, the NY Times ran, “New York Fed Chairman, With Ties to Goldman, Resigns” or another, from Paul Tharp of the NY Post read, “Freidman Fried as Chairman of NY Fed.” This is really turning out to be something straight from a Hollywood movie. Scratch that thought, they couldn’t even script this shit, for fear it would be too unrealistic. The same cannot, however, be said for the B. Hussein Obama administration.

The truth is this story is laden with corruption and criminal intent. Let me see if I can try to untangle this web of deceit… Stephan J. Freidman led or co-led Goldman Sachs from 1990-1994, in 2005 he returned to Goldman and presently resides on the board as the director. At the same time (until Friday,) he was the chairman of the New York Federal Reserve Bank. Now, normally this dual role would be regarded as an apparent conflict of interest, but the laws that prohibit such actions were blatantly overlooked. Actually, Mr. Friedman was granted a “waiver” in this particular instance and this illegal relationship was permitted to exist.

The plot truly thickens when the former head of the NY Fed Reserve Bank, Mr. Timothy “Tax Cheat” Geithner, gets appointed to run the US Treasury Dept. An appointment made by “Mr. Transparency” himself, B. Hussein Obama. The Fed, headed by Ben Bernanke, and working together with Mr. Friedman and cohorts, were put in charge of drawing up plans to help ‘Bailout” the financial markets. The supervisor of this scheme was no other than, Mr. Geithner himself, essentially Bernanke’s subordinate.

Now is when it gets interesting and the money starts flowing. So, Stephen J Freidman, acting in his role as Director of Goldman Sachs, submits a request to the Federal Reserve Bank, essentially Ben Bernanke, (and yes, at the time he is also the chairman of the NY Fed) to allow Goldman Sachs to become a bank holding company. The request, of course was granted.
Then, While the Fed was deciding whether or not to grant Friedman a ‘waiver of the bank stock ownership rules,’ he went ahead and bought 37,300 Goldman shares on December 17, for an average price of $80.78, according to regulatory filings. The ‘waiver’ was then granted and on January 22, he bought 15,300 more shares for average prices of $66.19 and $67.12, according to filings with the U.S. Securities and Exchange Commission. The January purchase brought his total holdings to 98,600 shares.

Subsequently, the impending financial disaster transpires. Investment firms like Meryl Lynch, Lehman Bros., AIG, etc. are forced into mergers, to close altogether, or required to take money from T.A.R.P., which essentially equated to hostile takeovers by the government. The Obama Inc. was created. The bailout plan was structured and the billions and billions are doled out to BANKS. One of the main recipients is, of course, Goldman Sachs, which is now considered a ‘BANK.’ Needles to say, Stephen J. Freidman’s investment shares skyrocketed. And on Thursday Goldman Shares closed at $133.73, meaning Friedman has profited handsomely, earning more than $3 million in total on the two purchases.

Despite the corrupt chain of events that have occurred, it wasn’t until The Wall St Journal questioned the purchase of these stocks that Mr. Freidman “Fled the Fed.” And in a self-righteous, arrogant, and egotistical manner he said, “Although I have been in compliance with the rules, my public service motivated continuation on the Reserve Bank Board is being mischaracterized as improper,” in a letter of resignation to New York Fed President William Dudley.

WHAT? Is he Kidding? Sure he is been in ‘compliance with the rules,’ he issued a ‘waiver’ to Himself, which essentially changed the rules, albeit only for him, and only for a brief period. And how were they ‘mischaracterized as improper?’ Is he really implying that his actions were proper? Surely you jest! And yet the saga continues and these ‘Rouge Bankers’ that have hijacked this government, are allowed to loot the wealth of this country without prosecution.