Good evening, Mr. Geithner, sir… is that a bailout under your arm? Is it yours, sir? Because, you see, we’ve had reports… ah, I see sir… it was a gift… well in that case, would you mind coming with us to the station, sir? It’s just routine…
Timmy Geithner’s in serious danger of getting booted out of favour with the Obama regime – and worse – as the stink surrounding the AIG bailout does its imitation of a spot that simply will not go away. It sounds as of the law are finally starting to get pro-actively interested in the precise legalities – or absence of same – when AIG was bailed out and passed the monies on to favoured clients. What no-one is bringing up at the moment is that Barclays were one of those clients. Barclays have made a great deal out of their not having had to be bailed out by the British taxpayer but have kept very quiet about their either beiongbailed out be the American taxpayer or being the beneficiary of outright fraud. This fruad might well be being dragged out from the shadows (banking shadows) into the generally-perceived limelight, where it will be widely understood. If Barclays are found to be in receipt of stolen, as I’ve always thought them to be, what will the likely consequences be for them as a company and the British banking system as a whole? One could argue that without the American bailout Barclays might have gone in the general confusion of the crunch. If they have to return the bailout billions, plus pay some kind of genuinely punitive fine on top, how would they survive? Who would bail them out? Who’s left to turn to? Gordon Brown can’t realistically pull another stunt along the LLoydsTSB/HBOS lines, who would fill the LLoydsTSB role? There are those who still try to suggest that what goes on over the Atlantic has no bearing on us here but the indications are that repercussions there will have resounding effects here.
Anyhoo, read about the latest goings on in this article from Ellen Brown.
http://www.huffingtonpost.com/ellen-brown/aig-gate-the-worlds-great_b_451445.html
Who knows? At this rate maybe the new Barclays uniform will be orange jumpsuits… 🙂
BB