How Recessions Can be Orchestrated - And How 2008 Was

[Borg Refinery]

https://www.google.com/amp/s/amp.theguardian.com/business/2012/may/20/wall-street-role-financial-crisis

[Borg Refinery]

I posted this elsewhere in May, but worth reposting:

Never seen this posted before.

Moody's $864m penalty for ratings in run-up to 2008 financial crisis

Payout to US justice department, 21 states and District of Columbia for risky mortgage securities ratings before stock market crash

Reuters
Sat 14 Jan 2017 01.53 EST

The credit rating agency Moody's has agreed to pay nearly $864m to settle with US federal and state authorities over its ratings of risky mortgage securities in the run-up to the 2008 financial crisis, the department of justice said on Friday.

Moody's reached the deal with the justice department, 21 states and the District of Columbia, resolving allegations that the firm contributed to the worst financial crisis since the Great Depression, the department said in a statement.

"Moody's failed to adhere to its own credit-rating standards and fell short on its pledge of transparency in the run-up to the 'great recession'," principal deputy associate attorney general Bill Baer said in the statement.

"S&P Global's Standard & Poor's entered into a similar accord in 2015 paying out $1.375bn. Standard and Poor's is the world's largest ratings firm, followed by Moody's."

https://www.google.com/amp/s/amp.theguardian.com/business/2017/jan/14/moodys-864m-penalty-for-ratings-in-run-up-to-2008-financial-crisis

Goldman Sach of Shites & JPM:

Neither Kerimov nor his associates – including his right-hand man, Allen Vine, a smooth American former Merrill Lynch banker who was born in Russia and chairs his Millennium Group investment vehicle – want to disclose his exact holdings in the US banks. Nor will they confirm or deny what several bankers suggested to me: that he may have retained stakes in Goldman Sachs and JPMorgan. Goldman and JPMorgan declined to comment.
.... This did not stop Kerimov's team, however, from informing the banks that they had become significant shareholders and requesting to meet the chief executive, said three of the bankers interviewed by the FT. They "made a representation to me that he was one of the largest shareholders. I checked and he was," said one senior banker......

The opacity of the investment figures exemplifies the veiled, ever-shifting world of Kerimov, where there is even talk of phone calls from the US Treasury after the collapse of Lehman Brothers, exhorting the Kerimov group and lender banks not to sell their stakes. "It was a big amount of money. It was in the banking system and it was a problem for the US Treasury," said one banker with knowledge of the situation. The acting deputy assistant secretary of the US Treasury for Europe and Eurasia at the time, Eric Meyer, said he was unaware of these "specific circumstances".

Lloyd Blankfein of Goldman Sachs who, according to one of them, has since visited Kerimov's Moscow residence twice.

But privately some have wondered whether there may be more to the mysterious Kerimov than meets the eye. Much speculation has rested on whether he sometimes invests funds for other silent partners – in particular, the Kremlin.

"There were times when I wondered whether it was a front for the Kremlin," said one banker. "Nobody would be surprised if he was," said another.

https://www.google.com/amp/s/amp.ft.com/content/ad4e8816-52d0-11e1-ae2c-00144feabdc0

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Wow(!!!!!!!!).

You couldn't make this stuff up, you really couldn't.

The UK faces a deep recession of up to 20% per quarter - the US faces up to 30% recession per quarter, thanks to a virus that could've been controlled by China. Oil prices hit $-39 the other day; Russia are going to do the best out of the OPEC deal AND the crash.

And these corrupt, useless fiscal institutions are driving it - and helping them engineer the crash.

Enough is enough!

^ Ref'ing the negative oil price event at the time.