Financial Crisis Unfolded - The Global Conspiracy
Summary taken from The Independent (15.09.09)
15 September 2008
- A sale of the Wall Street bank, Lehman Brothers failed. Administrators called in
16 September 2008
17 September 2008
18 September 2008
- US Federal Reserve pumps $180bn into markets through loans to fellow central banks. FSA imposes ban on short selling financial stocks. US unveils $700bn bank bailout
21 September 2008
- End of investment banks on Wall Street as Goldman Sachs and Morgan Stanley convert to bank holding companies
25 September 2008
- Washington Mutual becomes largest US bank failure. JP Morgan buys assets for $1.9bn
29 September 2008
- Bradford and Bingley nationalised in UK: branch network and retail deposits sold to Santander of Spain. Belgium, the Netherlands and Luxembourg in €11.2bn bailout of banking and insurance giant Fortis
- Wells Fargo trumps earlier Citigroup rescue and agrees to buy troubled US bank Wachovia for $16bn
- As global markets plunge, US Fed leads co-ordinated round of emergency interest rate cuts
- Iceland takes control of Kaupthing, its biggest bank, in its third nationalisation in a week
- UK injects £37bn into RBS, HBOS and Lloyds TSB as governments around the world pour money into their banking sectors
- IMF leads $25bn bailout of Hungary
- Barclays raises $7.3bn capital from Qatar and Abu Dhabi
- G20 summit in Washington pledges to support global economy and get tough on banks
- US bails out Citigroup, taking on $360bn of toxic assets
- Woolworths call in administrators
- Bernard Madhoff arrested for $50bn Ponzi scheme
- US gives Detroit car makers $17.4bn-worth of support
- Germany unveils €1.5bn aid for car firms, including "cash for bangers" scrappage plan
- UBS posts Sfr19.7bn loss for a year
- President Obama signs $787bn stimulus package. Allen Stanford charged by Wall Street regulators (SEC) with $8bn fraud.
- RBS post record £28bn loss - the biggest annual loss in UK corporate history (Fred "The Shred" Goodwin is well rewarded)
- US rescues AIG for the 3rd time
- UK cuts rates to 0.5%, lowest since the Bank of England was created in 1694
- G20 leaders meet in London and agree to commit $1.1trillion to world economy
Those in control lend to themselves
UK borrowing soars to £90bn, the highest on record
30 April 2009
- Chrysler files for bankruptcy protection in US and sells its car marques to unions and Fiat
- European Central Bank cuts rates to record low of 1%
- General Motors files for bankruptcy, becoming the largest manufacturing bankruptcy in US history
- Q1 (1st quarter: January - March) data show UK GDP fell by 2.4%, the largest fall in 50 years
- New GM emerges from bankruptcy in record 40 days
- Quarterly earnings at Goldman Sachs surge 33%
- Average bonus at bank hits
$904,624
24 July 2009
- Dow Jones, the US benchmark stock index regains 9,000, a level first passed in 1998
- Bank of England expands quantitative easing plan to £175bn to kick start lending
- FSA bans guaranteed bonuses for more than a year (WOW!!!) in crackdown (with a feather duster!!!) on risk-taking at banks
- Second quarter data (Q2) show French and German economies have emerged from recession.
20 August 2009
- Switzerland sells stake in UBS for $5.1bn
- France imposes limits on bank bonuses
- G20 target excess bank pay and risk-taking and insist economic support will be needed, as Lawrence Oates said, for "may be some time"
Finance
the scale of such a 'global' problem can only be rolled-out once every 70-80 years or so. But it is well worth the wait as the £$trillions at stake is a worthy reward for patience. This can only be useful to gain control. The money has little actual worth, but the level of global control is incalculable.
- Bonuses in the global financial systems is the 11th pandemic disease
All the financial institutions being sold.
Who buys them?
Control the financial system and the grip is absolute.
posted by Louis Brothnias @ 7:26 am
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