In an interesting series Yalman Onaran and John Helyar chronicle the fall of the Lehman Bros bank. What is so interesting is how this is published by the Main stream media as an example of how a bank collapsed as a result of hubris and excessive speculative trade in Derivatives amongst others.
What makes it even more interesting is the fact that the same main stream media for some reason does not question John Key’s career in the same world that produced the Lehman bros debacle especially since Merrill Lynch went the same way as Lehmans bros: Bankrupt in only a few months.
Why I wonder are we not informed about the demise of Merrill Lynch and why are we not allowed some serious questions of our ex-bankster Prime Minister.
Let’s start with some little known facts.
- John Key as I have published here before was a Merrill Lynch bankster from 1995 until he left in March 2001.
- John Key, during his tenure there, was the global head for foreign Exchange and European head for Bonds and Derivatives.
- John Key received his nickname “the Smilling Assassin” when he fired hundreds of his colleagues in the aftermath of the collapse and bailout ( by the Federal Reserve of new York just as they are now bailing out the banksters) of the LTCM (Long Term Credit Management) hedge fund in 1997-98. This event was the precursor, the training round as it were, for the events occurring in the financial world today and as such made John Key extremely aware of the volatile and hyper speculative and dangerous nature of the Derivatives trade. It also makes his remarks about hedgefunds in his APEC speech highly hypocritical to say the least.
- And most importantly John Key was one of only four upon invitation only advisors to the Federal Reserve of New York from November 1999 until March 2001. This was for all intends and purposes the most crucial period in the last twenty years for the Federal Reserve of New York because that was the time they could implement their financial Tsunami plan.
That was the time the banksters were finally officially freed of the limits of the Glass Steagall act, an act they had been violating since 1997, and they could bubble and bust to their harts contend and that is why it is important to recognise John Key’s complicity in the destruction of the global destruction. This is what happened in officially since November 1999 and unofficially since 1997:
The other three advisors to the Federal Reserve of new York at that time?
- John Carter, Lehman
- James Kemp, Citigroup
- Adam Kreysar, UBS Warbur
Yep, all of those banks have gone under or are in the process of going under. John Key sure knew how to pick his company.
So here is the history of the demise of the Lehman Bros bank. And while you read this remember John Key.
Part 5 to appear yet.