Too Big To Fail Part 2

White Al Qaeda Army? Martial Law? America for Sale? The Establishment?

You should read this book if you have any money or property in the American market.

Bostonians will be able to identify with the horror of martial law following the Boston Marathon massacre on Patriots Day, 2013.  Once they watch this video they will be horrified to learn that a shadow government known as the Establishment manages and manipulates American foreign and domestic policy, including money and energy policies, and control of our financial markets, intelligence services, and military.

Remember the AIG bailout? Remember 9/11 and whistleblower Richard Grove? Probably not but start here and do the research on the other 2 later.

Judge Approves $115 Million AIG Shareholder Settlement

By Nate Raymond | April 10, 2013

• Article
• Comments

A federal judge on Wednesday approved a $115 million settlement between American International Group Inc. shareholders and former CEO Maurice “Hank” Greenberg and other defendants over alleged improper accounting at the insurance giant.

The accord is the latest in a string of settlements to spill out of class-action securities fraud litigation tied to practices at the insurer dating to 1999. In total, more than $900 million in settlements have been approved with defendants including AIG.

A word from our sponsor:

Combat fraud and improve pricing accuracy. Significant premium is paid in fraudulent claims or lost to rate evasion. Prevent this by identifying potentially deceptive claims early. TransUnion Risk Verification Platform uses comprehensive data for actionable results at point-of-quote. Reduce fraud. Improve pricing accuracy. See How

U.S. District Judge Deborah Batts in Manhattan gave final approval to the pact at a court hearing, calling it “fair, reasonable and adequate.”

Batts approved a $725 million settlement with AIG in February 2012. She earlier approved a $97.5 million accord with accounting firm PricewaterhouseCoopers.

The settlement resolves a 2004 lawsuit accusing the defendants of misleading investors in connection with an alleged illegal bid-rigging scheme in the insurance industry. The lawsuit also accused Greenberg and others of making false and misleading statements about an alleged accounting fraud that resulted in a $3.9 billion restatement by AIG in 2005.

The alleged activities took place well before AIG accepted $182 billion of taxpayer bailouts during the financial crisis in 2008 and 2009.

Among those participating in the settlement are Greenberg, former chief financial officer Howard Smith, two other executives and two of Greenberg’s companies, C.V. Starr & Co. and Starr International Co.

Two Ohio state pension funds acted as lead plaintiffs for the class, which covers AIG shareholders who bought stock from October 1999 to April 2005.

An AIG spokesman declined to comment on the settlement.

The case is In re American International Group Inc. Securities Litigation, U.S. District Court, Southern District of New York, No. 04-08141.

Was the Cyprus Bailout a Cover for a Gold Heist?

Like the 9/11 World Trade Center attacks were in part a cover for a massive gold heist, maybe one of the purposes of the Cyprus bailout was to hoard the gold.  Hitler shanghai'd the gold from Czechoslovakia, Poland, France, etc via the Bank of International Settlements (BIS) under the direction of Hjalmar Schacht (read Wall Street and the Rise of Hitler)

Cyprus To Sell €400 Million In Gold, About 75% Of Its Total Holdings, To Finance Part Of Its Bailout

Submitted by Tyler Durden on 04/10/2013 10:38 -0400

• Central Banks
 
• Eurozone
 
• International Monetary Fund
 
• Reuters

Curious why every bank and their grandmother, and most recently Goldman today, has been lining up to push the price of gold as low as possible? Here's why:

• CYPRUS TO SELL 400 MLN EUROS WORTH OF GOLD RESERVES TO FINANCE PART OF ITS BAILOUT - TROIKA DOCUMENTS - RTRS

Or about 10 tons of gold. But... the bailout was prefunded and there was no need to provide any additional cash? What happened: was the deposit outflow discovered to have been even greater than the worst case scenario and thus Cyprus needed even more cash? As for the buyers? We will venture a guess: central banks buying at the lows.

Finally: congratulations Cypriots. You are now handing over your gold for the one time, unbeatable opportunity to remain a vassal state to the Eurozone. But at least you have your €.

The good news: Cyprus will have at least another 4 or so tons after selling the 10 demanded now, before the Troika kindly requests that Cypriot citizens sell a kidney or two to pay for the ongoing deposit outflow from its insolvent banks, and indirectly, the endless bailout of the Euro.

Full story from Reuters:

Cyprus has agreed to sell excess gold reserves to raise around 400 million euros and help finance its part of its bailout, an assessment of Cypriot financing needs prepared by the European Commission showed.

The draft assessment, obtained by Reuters, also said that Cyprus would raise 10.6 billion euros from the winding down of Laiki Bank and the losses imposed on junior bondholders and the deposit-for-equity swap for uninsured deposits in the Bank of Cyprus.

Nicosia would get a further 600 million euros over 3 years from raising the corporate income tax rate and the capital gains tax rate.

Out of the total Cypriot financing needs of 23 billion euros between the second quarter of 2013 and the first quarter of 2016, the euro zone bailout fund will provide 9 billion euros, the International Monetary Fund 1 billion and Cyprus itself will generate 13 billion, the assessment said.