The Truth behind the Citigroup Bank “Nationalization”

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Colossal Financial Collapse

The Truth behind the Citigroup Bank “Nationalization”

By F. William Engdahl  (excerpted from the article)

On Friday November 21, the world came within a hair’s breadth of the most colossal financial collapse in history according to bankers on the inside of events with whom we have contact. The trigger was the bank which only two years ago was America’s largest, Citigroup. The size of the US Government de facto nationalization of the $2 trillion banking institution is an indication of shocks yet to come in other major US and perhaps European banks thought to be ‘too big to fail.’

November 25, 2008 “Global Research” — The clumsy way in which US Treasury Secretary Henry Paulson, himself not a banker but a Wall Street ‘investment banker’, whose experience has been in the quite different world of buying and selling stocks or bonds or underwriting and selling same, has handled the unfolding crisis has been worse than incompetent. It has made a grave situation into a globally alarming one.

‘Spitting into the wind’

A case in point is the secretive manner in which Paulson has used the $700 billion in taxpayer funds voted him by a labile Congress in September. Early on, Paulson put $125 billion in the nine largest banks, including $10 billion for his old firm, Goldman Sachs. However, if we compare the value of the equity share that $125 billion bought with the market price of those banks’ stock, US taxpayers have paid $125 billion for bank stock that a private investor could have bought for $62.5 billion, according to a detailed analysis from Ron W. Bloom, economist with the US United Steelworkers union, whose members as well as pension fund face devastating losses were GM to fail.

That means half of the public’s money was a gift to Paulson’s Wall Street cronies. Now, only weeks later, the Treasury is forced to intervene to de facto nationalize Citigroup. It won’t be the last.

Paulson demanded, and got from a labile US Congress, Democrat as well as Republican, sole discretion over how and where he can invest the $700 billion, to date with no effective oversight. It amounts to the Treasury Secretary in effect ‘spitting into the wind’ in terms of resolving the fundamental crisis.(end excerpt)



Also: William Engdahl’s book “Seeds of Destruction” is available under [Recommended Reading] in our links.

All terrorism all the time……BRASSCHECK TV/video

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It’s Thanksgiving which means a lot in America and nothing here in Milan, Italy where I’m spending a few days.


But where ever you are, if you turn on CNN or the BBC (the only two English channels you can reliably get in Europe), it’s been “all terrorism, all the time” on TV since last night. 


Now I don’t dispute that the attacks in India are news or that the deaths and injuries are tragic, but does this story merit all day and night coverage.


And you can hear the newscasters doing everything they can to build up the story, its significance, and its dire portents for the future of humanity.


I notice that the European news stations note what happened and then get on to news from the rest of the world.


Not so for the terrorism obsessed US and UK. They’re going to make this

into the biggest event since landing a man on the moon if its the last thing they do.


What gives?


Yesterday, the day began with news that the US just threw another trillion dollar log on the fire to try to stop the slow motion train wreck that threatens to collapse the world financial system.


Less than 24 hours later, that’s history.


Now it’s “all terrorism, all the time” this time at a luxury hotel in Mumbai, India.


A sample of the reporting: 



Remember When ??? SCHOOL — 1958 vs. 2008

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     Remember When ???  SCHOOL — 1958 vs.




 Jack goes quail hunting before school,

 pulls into school parking lot with shotgun in gun rack.

 1958 – Vice Principal comes over, looks at Jack’s shotgun,

 goes to his car and gets his shotgun to show Jack.

 2008 – School goes into lock down, FBI called, Jack hauled off to


 and never sees his truck or gun again. Counselors called in

 for traumatized students and teachers.


 Johnny and Mark get into a fistfight after school.

 1958 – Crowd gathers. Mark wins.

 Johnny and Mark shake hands and end up buddies.

 2008 – Police called, SWAT team arrives, arrests Johnny and


 Charge them with assault, both expelled even though Johnny

 started it


 Jeffrey won’t be still in class, disrupts other students.

 1958 – Jeffrey sent to office and given a good paddling by the


 Returns to class, sits still and does not disrupt class again.

 2008 – Jeffrey given huge doses of Ritalin. Becomes a zombie.

 Tested for ADD. School gets extra money from state

 because Jeffrey has a disability.


 Billy breaks a window in his neighbor’s car

 and his Dad gives him a whipping with his belt.

 1958 – Billy is more careful next time, grows up normal,

 goes to college, and becomes a successful businessman.

 2008 – Billy’s dad is arrested for child abuse.

 Billy removed to foster care and joins a gang.

 State psychologist tells Billy’s sister that she remembers

 being abused herself and their dad goes to prison.

 Billy’s mom has affair with psychologist.


 Mark gets a headache and takes some aspirin to school.

 1958 – Mark shares aspirin with Principal out on the smoking


 2008 – Police called, Mark expelled from school for drug


 Car searched for drugs and weapons.


 Pedro fails high school English.

 1958 – Pedro goes to summer school, passes English and goes to college.

 2008 – Pedro’s cause is taken up by state.

 Newspaper articles appear nationally

 explaining that teaching English as a requirement for graduation is racist.

 ACLU files class action lawsuit against state school system

 and Pedro’s English teacher. English banned from core 


 Pedro given diploma anyway but ends up

 mowing lawns for a living because he cannot speak English.


 Johnny takes apart leftover firecrackers from 4th of July,

 puts them in a model airplane paint bottle, blows up a red ant


1958 – Ants die.

 2008- BATF, Home land Security, FBI called.

 Johnny charged with  domestic terrorism, FBI investigates parents,

 siblings removed from home, computers confiscated,

 Johnny’s Dad goes on a terror watch list

 and is never allowed to fly again.


 Johnny falls while running during recess and scrapes his knee.

He is found crying by his teacher, Mary.  Mary hugs him to comfort him.

 1958 – In a short time, Johnny feels better and goes on playing.

2008 – Mary is accused of being a sexual predator and loses her


 She faces 3 years in State Prison.

 Johnny undergoes 5 years of therapy.



If you think the above scenarios are a funny exaggeration, it’s


 probably because you have had your head up your ass for many


years now, and the lack of oxygen has affected your brain!


If these scenarios are politically and socially acceptable in


America, then piss on American’s


 Send Reply’s to:  James P. Harvey      WeThePeople@mchsi.com 

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