Morning Smoke: One Regulator, Over All Banks

Dodd Said to Propose Removing Fed, FDIC Bank-Supervision Roles [Bloomberg]

Pentagon Learning Lessons From MRAP Program [Ares]

White House Won't Rescind Lobbyist Board Ban [Under the Influence]

FHA's reserve fund hits 7-year low [The Washington Post]

Companies using offshore tax havens look to bill for windfall [The Hill]

The Reinvention of Robert Gates [The New Republic]

Tactical Air's Gloomy Future [Military.com]

Comments

[Posted on: Nov 10, 2009 at 08:54 PM]

In connection with Dodd Proposes Removing Fed, FDIC Bank Oversight Power (Update2, it should be clear to the world who is accountable.

Dear Congressman Paul:

Ron,

I read with interest your book titled, "End the Fed". I was deeply moved.

You may not believe this but I am an expert witness to the BANKING CRISIS. I worked on the beltway back in the summer of 2004 for IBM. I bid on a job to integrate all the banks as the lead I/T Architect, which means the regulators knew exactly the state of the economy in '08. XXXXX (an accounting firm) won the job. It was a three year project. The entire bidding process was video recorded. I reported the FDIC and XXXXX to the SEC, NYS Attorney General, US Treasury Dept. Critical Infrastructure and Policy, & Secret Service for having profited from the disaster, and having intentionally let it occur.

I also worked in the Federal Reserve Bank of NY during the previous crisis in '87 as a NYNEX employee.

Sir, you understand the country is being played by a group of power brokers (i.e. oil men, bankers, stock exchange personnel, clergy) as I do. I've given my Congressman's (Tim Bishop) aide a list of people and photos of whom I believe are responsible in the Tri-State Area and requested Secret Service intervention. In my humble opinion, this is an effort to denigrate the U.S. President which requires your immediate attention. If you had won the election, in my opinion, they would have done the same thing to you EXCEPT I believe, now having read your book, that you would have undone the FED charter and put a stop to it. As you should know, the banks are stealing from people all over the country by way of various unscrupulous activities (i.e. bogus over draft fees, wire fraud, 29% interest rates on credit cards, no access to capital, etc). Small business has reverted to bartering.

Incidentally, the FDIC is running a commercial on the radio urging African Americans to use the banks. They said deposits are insured up to $250,000. What they failed to say was that is it would take a lawyer to get their money back out after they made the deposit.

If there is anything I can do to further assist your efforts, please contact me.

Sincerely,

SCOTT