The Financial Stability Oversight Council (FSOC) is a United States Federal government organization, established by Title I of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which was signed into law by President Barack Obama on July 21, 2010. Dodd-Frank provides the Council with broad authorities to identify and monitor excessive risks to the U.S. financial system arising from the distress or failure of large, interconnected bank holding companies or non-bank financial companies, or from risks that could arise outside the financial system; to eliminate expectations that any American financial firm is "too big to fail"; and to respond to emerging threats to U.S. financial stability.The Financial Stability Oversight Council has ten voting members, see below, but first a little background on someone who is actually trying to help the American public and her fate:
The United States Consumer Financial Protection Bureau (CFPB) is a federal agency which will hold primary responsibility for enforcing the federal laws and regulating consumer protection in the United States. On July 17, 2011, President Barack Obama chose Richard Cordray, a former Attorney General of Ohio, as his nominee to be the first Director of the CFPB. Elizabeth Warren, special consultant in charge of implementing the bureau, was passed over.Elizabeth Warren Makes Timmy Geithner Squirm Over AIG and Goldman Sachs Bailouts
According to the United States Treasury Department, the bureau is tasked with the responsibility to "promote fairness and transparency for mortgages, credit cards, and other consumer financial products and services.
We know where Elizabeth Warren was going with the line of questioning and it was about the 13 billion dollars Goldman Sachs got out the back door of AIG.
The question to Timmy was; "Do you know where the money went?" The question was not sufficiently answerd.
Goldman Sachs and others were not mentioned specifically but Elizabeth framed the question so perfectly as to leave no doubt as to who benefited 100 cents on the dollar from the tax payer on AIG's counter party risk.
If you're familiar with the name 'Elizabeth Warren,' you'll recognize her as the brave lady who gave interviews about the past Wall Street thievery and explained it in language easy to understand and was outspoken critic of big banks. She's a gutsy lady, that truly appeared to have the interests of the consumer in mind when setting up the CFPB and was expected to be named its head, but the last thing the Wall Street Casinos want is someone who will actually keep a sharp eyes on their newest con games, so Ms. Warren was tossed overboard and someone those pirates could work with, Richard Cordray was named head.
While in private practice in 1993, Cordray co-wrote a legal brief for the Anti-Defamation League for the reinstatement of Ohio's hate crime laws.
Here's another reason why the brave patriot, Elizabeth Warren, will never be appointed to head any federal agency that's supposed to protect 'We the People.'
She has a nasty habit of telling the TRUTH.
The Coming Collapse of the Middle Class by Elizabeth Warren
Distinguished law scholar Elizabeth Warren teaches contract law, bankruptcy, and commercial law at Harvard Law School. She is an outspoken critic of America's credit economy, which she has linked to the continuing rise in bankruptcy among the middle-class.
Here's a link to some of the FSOC members that reads like a 'Bar Mitzvah' gust list
The Financial Stability Oversight Council (FSOC) is supposed to "identify and monitor excessive risks to the U.S. financial system arising from the distress or failure of large, interconnected bank holding companies or non-bank financial companies, or from risks that could arise outside the financial system; to eliminate expectations that any American financial firm is "too big to fail"; and to respond to emerging threats to U.S. financial stability.
Right. Anyone believing that the FSOC will actually look out for 'We the People,' please raise your hand.
The Financial Stability Oversight Council has ten voting members:
1.Secretary of the Treasury (chairs the Council)...Timothy Geithner, former head of the New York branch of the Federal Reserve who helped Madoff launder billions and billions of American wealth to Apartheid Israel.
2.Chairman of the Federal Reserve...Ben Bernanke. Ben's middle name is 'Shalom.' Printed close to 16 TRILLION DOLLARS of OUR money, then gave it away to his overseas bankster gangster buddies from December 2007 to July 2010. That's more money than the entire GDP of the USA in one year.
3.Comptroller of the Currency, John Walsh. 'Token' GOYIM? He be a 'good boy'. On June 21, 2011 Walsh spoke before the Centre for the Study of Financial Innovation in London, warning about the dangers of excessive financial regulation.
Appointed by Treasury Secretary Geithner, so Walsh will do as he's told.
Yes, one must be on guard against making Wall Street actually play by what little oversight rules are left. We don't want to upset those gazillionaires from constantly rigging the markets.
4.Director of the Bureau of Consumer Financial Protection... see above.
5.Chairperson of the U.S. Securities and Exchange Commission, Mary Shapiro, who as a regulator viewed much regulation of financial markets as too burdensome and proposed to work closely with the financial industry to weaken regulations.Close personal friend of that world-class thieve, Bernie Madoff who stole close to 100 BILLION from Americans, then with Tim Geithner's help, laundered much of that loot to Israel.
Madoff's REAL crime? He also stole from his fellow 'Tribe' members and in the TALMUD, that's a BIG No-No.
'You go girl.' Got enough buses to toss the poor and middle-class under?
You Must Be Kidding: Mary Shapiro a Sheriff on Wall Street? What are the Editors at Time Magazine Smoking?
6.Chairperson of the Federal Deposit Insurance Corporation, Martin J. Gruenberg.
Martin J. Gruenberg, while serving as Senior Counsel to Senator Paul S. Sarbanes, helped pass The Gramm–Leach–Bliley Act, also known as the Financial Services Modernization Act of 1999, which gutted the Depression era Glass–Steagall Act that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company.
The Act directly helped cause the 2007 subprime mortgage financial crisis.
April 25th, 2010 Senator Sherrod Brown,in an interview on "This Week." "Fifteen years ago, the assets of the six largest banks in this country totaled 17 percent of GDP ... The assets of the six largest banks in the United States today total 63 percent of GDP." Related to the above power of banks/busnissmen; in 1933 Retired Marine Corps Major General Smedley Butler claimed that wealthy businessmen were plotting to create a fascist veterans' organization and use it in a coup d’état to overthrow United States President Franklin D. Roosevelt, with Butler as leader of that organization. It may be that this "Business Plot" of 1933 is continuing to be implemented today with the power of the banks and a pliable leader in the Oval Office instead of a General who blew the door open on this plot and stopped it.At least former FDIC head Sheila Bair at least had some integrity, as she spoke out some truths about the collusion going on between the Lenders And Government who were at fault for the Mortgage fiasco.
7.Chairperson of the Commodity Futures Trading Commission, Gary Gensler.
Wall Street Pushes for Delay in U.S. Rules to Curb Commodities SpeculationNext time you get gouged at the gas pump or spend more to buy less at the grocery store, you can thank Gary Gensler.
The Commodity Futures Trading Commission will miss a mid- January deadline to impose trading restrictions on commodities including oil, natural gas, silver and gold, CFTC Chairman Gary Gensler told a House Agriculture subcommittee today at a hearing in Washington.
Companies including Goldman Sachs Group Inc., Vitol and Cargill Inc. have met with the CFTC about the rules, according to the commission’s website.
8.Director of the Federal Housing Finance Agency. Now headed by Edward DeMarco Acting Director, Federal Housing Finance Agency, appointed in late 2009, after the economy entered the Federal Reserve engineered 'Great Depression, Part II.'
Prior Director was James Lockhart:
James Lockhart's tenure spanned the financial crisis of 2007–2009. The New York Times reported that during his watch, "both Freddie and Fannie had plunged into the riskiest part of the market, gobbling up more than $400 billion in subprime and other alternative mortgages," criticizing Lockhart for lax oversight and not responding to early signs of trouble at those institutions.'Jimmie' was a friend of GW Bush from their days at Andover. Great credentials.
In a July 2008 appearance on CNBC, he declared that the companies, like Freddie Mac and Fannie Mae were well managed and “worsts were not coming to worst.”"Does not air dirty laundry in public?" That's your job, dumbass.
Mr. Lockhart defended himself, insisting in an interview that he was aware of the companies’ vulnerabilities, but did not want to rattle markets.
“A regulator,” he said, “does not air dirty laundry in public.”
And more, from the October 12, 2001 Guns and Butter, The Economy Watch with Kellia Ramares and Bonnie Faulkner Aired on KPFA 94.1 FM, Berkeley, CA
The CIA's Wall Street connections9. Chairman of the National Credit Union Administration Board, Debbie Matz.
You have to remember that the current Bush administration is a reincarnation of the administration we saw during Iran-Contra, and during the years of President Bush's presidency from '89 to '93. These are the people who brought us the savings and loan crisis, which took $500 billion dollars out of US taxpayer pockets. These guys know how to loot an economy.
There are very credible, well-documented stories from GAO [General Accounting Office] that have been written even in the Washington Times [a very conservative newspaper] showing that the Department of Defense has, and this is the right word, has lost more than three trillion dollars in the last two years. That money is not lost; it's been stolen.
More than 59 billion dollars has been taken out of HUD [US Department of Housing and Urban Development]. There are monstrous economic costs which are going to fall on the American taxpayer. But they will not fall on the administration or its allies on Wall Street.
There has been a strong trend in the movement of money by the very rich offshore, out of the country, into safe havens, so that when the bubble does break, it'll be the taxpayer holding the bag.
As Chair of the NCUA Board, Mrs. Matz is the spokesperson for the agency and oversees the regulation of federal credit unions and the administration of the federal insurance fund covering approximately 7,400 credit unions with over $900 billion in assets.Couldn't find any skulduggery on Matz, but that 900 BILLION in assets she oversees is surely making a certain group of thieves drool and making plans on how to loot that money from the American public.
10.an independent member (with insurance expertise), appointed by the President, with the advice and consent of the Senate, for a term of 6 years.
Couldn't find the person the first 'Jewish' president Obama was supposed to have already appointed to this commission, not sure there is one on the board.
Here's one of my fav 'Tribe' members that are using and abusing the American taxpayer to protect Apartheid Israel:
Under Secretary for Terrorism and Financial IntelligenceWhile the American public was being robbed of trillions of dollars of wealth during the recent mortgage backed securities and CDS scams, may of these 'Tribe' members helped their buds carry off the loot, or if they were in an oversight role, deliberately looked the other way so as to not interrupt the thievery.
David S. Cohen was confirmed by the United States Senate to serve as Treasury’s Under Secretary for Terrorism and Financial Intelligence on June 30, 2011. As Under Secretary for Terrorism and Financial Intelligence, Cohen leads the Treasury Department’s policy, enforcement, regulatory, and intelligence functions aimed at identifying and disrupting the lines of financial support to international terrorist organizations, proliferators, narcotics traffickers, and other illicit actors posing a threat to our national security. He is also responsible for directing the Department’s efforts to combat money laundering and financial crimes.
Cohen first joined the Department of the Treasury in 1999, working in the Office of the General Counsel as Senior Counsel to then General Counsel, Neal S. Wolin. In that position, Cohen was involved in crafting legislation that formed the basis of Title III of the USA PATRIOT Act, the 2001 update to the Bank Secrecy Act that provided Treasury new tools to combat money laundering and the financing of terrorism.
Plus, they work with the both the State and Treasury Departments to 'gin up' falsehoods about Iran, Syria, etc. so Congress can use their fictions to pass acts of economic warfare against Israel's 'existential' enemies.
Such 'patriotic' Americans need an appropriate award, like a hemp necklace around their greasy necks.
Maybe that corrupt, putrid swamp on the Potomac River should change it's name from Washington, DC to 'Little Tel Aviv.'
Fed admits it is a private banking system