FEMA Pandemic Exercise SeriesThis past week, the gangsters in charge of the FED and the Bank of England got together to fine-tune their bank collapse model that will be used when those 'Too Big to Fail' Wall Street banks finally collapse.
PANDEMIC ACCORD: 2013-14 Pandemic Influenza Continuity Exercise Strategy
The Federal Executive Boards in New York City and Northern New Jersey in partnership with FEMA Region II, The Department of Health and Human Services Region II, NYC Department of Health and Mental Hygiene, Securities Industry and Financial Markets Association (SIFMA) and the Clearing House Association are sponsoring a two year series of pandemic influenza continuity exercises - tabletop exercise 2013 (complete), full scale exercise 2014 - to increase readiness for a pandemic event amongst Federal Executive Departments and Agencies, US Court, State, tribal, local jurisdictional and private sector continuity.
Pandemic influenza is a global outbreak of disease that occurs when a new influenza virus appears or "emerges" in the human population causing serious illness, as it spreads from person to person worldwide. History teaches us that the impact of a pandemic can be far-reaching. The 1918 "Spanish Flu" influenza killed approximately 30,000 people in NYC, 500,000 in the United States and as many as 50 -100 million worldwide. Furthermore, it leads to widespread social disruption and economic loss.
Economists, epidemiologists and other experts predict that the effects of a modern-day pandemic will be seen in every industry and government agency at local, regional, national and international levels. Typically a pandemic influenza will come in "waves" each lasting 6-8 weeks with several months between each wave. The CDC estimates that between 35%-40% of the United States population could be affected by pandemic influenza and the economic impact could range between $71.3 and $166.5 billion (2006 estimates).
A financial crash to rival the one caused by Lehman Brothers' collapse will be played out by the world’s most powerful central bankers next week, in a “war game” designed to help end the “too big to fail” problem.
In the first simulation of its kind, Janet Yellen, the head of the US Federal Reserve, and Mark Carney, the Governor of the Bank of England, will be joined by Chancellor George Osborne and US Treasury Secretary Jack Lew, who will be tested on their reaction to a major US or UK bank failure.
The exercise, designed by regulators on both sides of the Atlantic, forms part of a series of measures designed to end the phenomenon of “too big to fail”, limit the risks to financial stability and protect taxpayers from future bailouts.
Mr Osborne said the “war game”, which will take place in Washington after the International Monetary Fund’s annual meeting, will examine the failure of a big Wall Street bank with UK operations, and that of a major UK bank with a division in the US.