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*Phoenix Journal 20

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THE MOSSAD CONNECTIONHotfoot for the Phoenix
	By Gyeorgos Ceres Hatonn
	253 Pages (139)
Americans, to understand how their Constitution, and Nation, are being stolen from them (and who is doing the stealing) must understand the MOSSAD CONNECTION. The "Thirteenth Tribe" of Israel, now self-designated as "ZIONISTS", is in control of both Israel and, through its political influence over some sixty percent of the U.S. Congress and its working relationship with the White House, the United States of America. This book identifies those connections and clearly outlays the only potentially successful course of action open to the people of America to regain control of their Nation.

NOTE:  CHAPTER 21 DOES NOT LOAD.  READ CHAPTER 21 BELOW:

‘THE MOSSAD CONNECTION’- PHOENIX JOURNAL #20 - CHAPTER  21

 

REC  #4   HATONN

 

SUNDAY, OCTOBER 14, 1990   5:20 P.M.   YEAR 4 DAY 59

 

DELAY,  THEN  DECEPTION

 

During Reagan’s first term, ideology drove many decisions that fos­tered the cover-up.  During his second term, motives gradually shifted as the players started focusing on their own political and economic self-interest.  Ed Gray, considered a hero by some for de­manding more examin­ers, spent at least two years as a major link in the cover-up.  In February, 1986, the General Ac­counting Office is­sued a report saying that 1,300 of the 3,180 federally backed thrifts—repre­senting 42 percent of the industry’s total assets—were in financial trouble.  Gray wrote an angry letter conceding the accuracy of the data but charging that the report “tends to dramatically overstate” the danger.  If any­thing, the report was too cautious.  But by then, the cover-up was approaching a conspir­acy.  In July, 1986, financial expert Bert Ely remembers attending a con­gressional hearing and approaching a senior Treasury official who had been telling lawmakers the scandal was manageable.  “I said to him, `When are you all going to admit how big the prob­lem is?’” recalls Ely, one of the first analysts to gauge the true dimensions of the mess.  “He got angry and said to me, `Not on my watch.’”  That mentality became the maxim of the administra­tion: don’t admit anything until we can leave town and elect Bush.

 

But the administration was hardly alone in its penchant for denial and decep­tion.  Congressmen from both parties also played a major role.  In 1986, the White House asked for a $15 billion in­crease in federal insurance funds to cope with a rising level of failure.  The S&L industry op­posed the plan on two grounds: thrifts would have to pay the bill, through future premiums, and a bigger fund meant more money to close down insolvent operations.  So S&L lobby­ists called their friends, including Representatives Jim Wright and Tony Coelho, then chairman of a major Democratic fund-raising com­mittee, who helped raise $213,000 for the party in the 1980’s from some of the highest fliers in the thrift world.

 

Wright had long been friendly with the Texas thrift industry, col­lecting $83,000 from S&L inter­ests in the 1980’s.  When a Dallas developer, Craig Hall, approached him in 1986 and com­plained that federal regulators were harassing him, Wright interceded directly with Gray to get softer treatment for Hall, even pulling the bailout bill off the House calendar to emphasize his point.  The bill never passed that year, and in 1987, both Wright and Coelho supported the thrift industry’s demands to downsize the measure to $5 billion.  There was one closed-door meeting of Democratic mem­bers of the House Banking Committee at which Wright railed against the bill and said the ad­ministration wanted $15 billion “to close up my friends”.  Coelho later played a key role in persuading the House to reject the $15 billion and pass a $5 billion bailout.  A $10.8 billion compromise was signed by President Reagan in Novem­ber, more than a year after the bill was introduced and only two-thirds of its original size.

 

Many other lawmakers went to bat for thrifts endangered by Ed Gray’s born-again regulatory zeal.  The Senate Ethics Committee is now investigating charges that the so-called Keating Five—Democrats Alan Cranston, Don Riegle, Dennis DeConcini and John Glenn, plus Republican John McCain—improperly interceded to block action against Charles Keating.  Of course the lump of corrupt “takers” is far, far greater than five and thusly, they will even­tually tattle on one another.  Less well known, for instance, is Democrat Frank Annunzio of Illinois, chairman of the House subcom­mittee that monitors the thrift industry.  Craig Simmons, a senior auditor for the GAO, says he “caught unmitigated hell” from Annun­zio and St. Germain in March, 1986, when he delivered an alarming assessment of the industry’s health.  The Chicago con­gressman is now engaged in a tough re-election battle, hampered largely by rev­elations that his two sons-in-law both worked for the thrift indus­try.

 

Since Texas was the focal point of the scandal, many Texas lawmak­ers got drawn into the issue.  Then, of course, it became evident that California law­makers were over their heads into the mess, by the dozens.  Over the objec­tions of many “experts”, two Republi­cans, Representative Steve Bartlett and Senator Phil Gramm, au­thored a key provision in the 1987 bill that allowed banks to oper­ate with much lower capital than normal and thus conceal their true weakness.  Critics regard the provision as a major factor in the cover-up, but Gramm says he was acting at Gray’s request.  Another lawmaker who helped the S&L industry was the late Claude Pepper, the Florida Democrat who headed the Rules Committee.  Pepper, a re­cipient of $21,000 in PAC contributions from S&L’s during the 1980’s, bottled up a 1988 bill expanding the bailout fund started the previous year.  Republican Representative Jim Leach of Iowa, the measure’s author, says: “Pepper wasn’t going to let any­thing against S&L interests out of the committee.”

 

The cover-up impulse accelerated with the approach of the 1988 election.  In January, 1988, shortly after he became head of the bank board, M. Danny Wall met with GAO auditors who were painting an increasingly gloomy pic­ture of the industry.  The mood grew testy as Wall re­jected the GAO’s analy­sis and accused the auditors of being “a bunch of morticians”.  Charles Bow­sher, the GAO’s comptroller general, became “red in the face”, according to several wit­nesses, shook his finger at Wall and left the room.

 

Wall now contends that he could not discover the depth of the scan­dal be­cause the thrifts them­selves were guilty of a “premeditated and intended ef­fort to cover up the problem”.  In several letters to the GAO through 1987 and 1988, William B. O’Connell, president of the thrifts’ lob­bying organiza­tion, accused the auditors of try­ing “to alarm the public and undermine confi­dence in the financial system” by publishing their reports.  Another group of profession­als didn’t acknowledge how serious the problem was.  For instance, Alan Greenspan, now chairman of the Federal Reserve, but then a private consultant, wrote a letter to the Home Loan Bank Board in San Francisco in 1985 extolling Lincoln Savings as a “vibrant and healthy” institution that “presents no foreseeable risk” to the in­surance system.  Lincoln collapsed a few years later and could eventually cost the system over $2.5 billion.  Federal regulators have filed more than two dozen suits against accountants, charging complicity in the cover-up.  In California, 29 of 31 in­solvent S&L’s showed “clean” audits by these so-called honest accountants.

 

The cover-up reached its high point in the final weeks of the 1988 campaign.  Michael Dukakis was told to avoid the issue by Democrats worried about the role of Wright and others in fighting reform leg­islation.  And the Bush cam­paign, run by James Baker, who had been White House chief-of-staff and Treasury Secretary as the crisis grew, was determined to keep it off the agenda.  Baker had been a key figure in trying to limit the scope of bailout legislation in 1986 and 1987, even as the crisis was growing.  In the campaign endgame, he and other GOP officials were instrumental in making sure bailout legislation wasn’t discussed until after Bush was elected.  This is the same man who has sold you out to Assad in Syria.

 

Without bailout funds to close down insolvent thrifts, Wall began soon after the election to try to save struggling institutions.  He negotiated dozens of deals with investors, who got lucrative subsi­dies and tax incentives to buy 179 S&L’s.  Officials have now re­vealed that the probable cost of those deals, alone, had shot from $38 billion to a staggering $71 billion—prompting critics to charge the “government had been taken to the cleaners”.  No, just you the people.

 

Early in 1989, President Bush ended some of the cover-up by propos­ing that taxpayers be re­quired to finance the S&L bailout and that a federal agency—the Resolution Trust Corporation—be created to manage it.  But it took an­other nine months to enact such measures—on top of the full campaign-year delay—and even the final bill contained deceptive provisions.  Of the $50 bil­lion provided, $30 billion was financed by bonds, only $20 billion by the Trea­sury.  The result: $3 billion in added interest costs, but a lower short-term im­pact on the budget deficit.  The bill does cut back some of the worst regula­tory excesses of the Reagan years by beefing up capital requirements and re­stricting lending practices.  But at­tempts to enact new and stiffer accounting rules have been thwarted in Congress.  Think of it this way, however, look at the numbers of new rip-off jobs created at your expense and see how the RTC expe­dites the capture of the property of you the people and puts it into the hands of the wealthy elite.

 

The cover-up continues.  The Bush White House is trying to oust Seidman, whose term has an­other year to run.  And the RTC is run­ning out of money fast.  It has had to cancel a well-publi­cized sale of $300 million in seized assets because few buyers could be found.  Much of official Washington is still ducking the truth and running to hide from that which sticks to themselves, somehow hop­ing that the problem will go away in all the other distractions dumped on you the people.

 

QUESTIONS  FOR  THE  CANDIDATES

 

 

Here are a few questions voters might ask lawmakers to gauge what their po­sition was as the S&L scandal grew:

 

*          1980: Did you think it was wise to raise deposit insurance from $40,000 to $100,000?

 

*          1982: Did you have any reservations about the Garn-St Germain bill that removed many re­strictions on where thrifts could invest taxpayer-insured funds?

 

*          1986: Did you believe bank regulators like Ed Gray and Paul Vol­cker and lawmakers like Senator Jake Garn when they said the thrift system was head­ing for collapse?  If so, why didn’t you act on bailout legislation?  (No bill was passed because of delays orches­trated by Represen­tatives Jim Wright and Fernand St Germain and Senator William Proxmire.)  And, (sic, sic) you thought Proxmire was the Golden God on the White Horse uncovering all those nitty over-ex­penditures!

 

*          1987: Did you believe lobbyists for the thrift industry who ar­gued that bailout plans should allow S&L’s liberal leeway to re­cover?  How did you vote on the Jim Leach amendment to limit direct investments by thrifts?

 

*          1988: Was there a reasonable alternative to the do-nothing policy of both parties during the presidential campaign?  (Auditors said the problem grew by over $50 billion that year.)

 

Dharma, I would ask you to please reprint herein the article, “Jail the Real S&L Crooks!  Here’s a List for Starters.”  (GEORGE: TAKE CAREFUL NOTE OF THESE PEOPLE.)

 

A foretaste of the political explosion building up in the United States over the wrecking job done on the economy and banking system came bubbling to the surface in Seattle, Wash. on July 25.

 

The scene was the Scottish Rite Temple, 1155 Broadway Ave. S.E..  The occasion, a public meeting of the “Not-With-My-Bucket Brigade”, a group of irate taxpayers and others who op­pose the federal bailout of the savings and loans (S&L’s).  The organizers were Mike Siegel from the Seattle NBC affiliate KING-AM radio, and John Hinter­berger, staff columnist for the Seattle Times.  The two had organized the meeting over the previous month, through their columns and talk-shows.  Siegel, a New York lawyer turned talk show host, is the presi­dent of the National Association of Talk Show hosts.  The meeting, filmed by the local NBC television affiliate, and by ABC sta­tions from Los Angeles and New York, was featured on national network news July 26.  Siegel aims to turn the Seattle meeting into the model for a national movement.

 

The purpose? “I don’t care what anybody says.  Throw all the bastards out—every incum­bent.”  “Enough is enough...what we need is to get those criminals and find out where their money is.”

 

The target? The S&L bankers ripping us off for $2,500 each, forever, and the Congress­men and Senators who helped them do it.  “I don’t want to see these people go to the federal coun­try club jails.  I want them out in the sun and the rain with wood-handled picks, breaking rocks!”

 

This scene is going to be repeated across the country this summer, and into the fall, and not because some newspaper columnist or talk show host encourages it.  It’s going to hap­pen anyway.  Why?  Because peo­ple have had it.  There’s a de­pression going on, and it is getting worse.  They’ve been lied to.  They’ve been ripped off.  Savings have been wiped out.  Families have been destroyed.  Pensions have been wiped out.  They’re two late-rent or mortgage payments away from being thrown onto the streets to join the ranks of the homeless.  People are angry.  They’re frightened.  They want to get even.  Someone’s going to pay.  The sink-hole of corruption now com­ing to light around the S&L fiasco has been the last straw.  The country’s going to hell and this sleaze is getting bailed out?

 

 

A  VISIT  TO  SKADDEN  ARPS

 

 

Well, wise up, or you are going to get taken for a sucker again.

 

Do you want to know who grabbed your savings, who stripped you of your pension, who is going to put you on the street?  Then go down to the New York City lawfirm Skadden, Arps, Slate Meagher and Flom, 919 Third Avenue, New York, New York 10022; tele­phone number (212) 371-6000.  Ask for Joe Flom, if you can find him.

 

Any list that doesn’t start with Flom’s lawfirm isn’t what it says it is.  (Hatonn: I would also include the firm of Shea and Gould, if I were you!)  Since 1977-78 it has been THE law firm Skadden, Arps which in­troduced most of the changes in le­gal practice, whether through Congress, the courts, or some­where else, which bankrupted the coun­try, bankrupted the bank­ing system, bankrupted the S&L’s, and sad­dled everyone with $21 trillion in combined accumulated debt and speculation.

 

If you want to talk about jailing sleaze, you should start with Skadden, Arps.  Go after the looters and the asset-strip­pers on their client list—among them James Goldsmith; the fallen Drexel, Burnham and Michael Milken; Goldman, Sachs & Co.; Morgan Stanley; Rothschild, Inc.  And the mobsters, the representatives of what used to be called orga­nized crime, the Boeskys, the Riklises, the Steinbergs, the Pick­enses, the Ic­ahns, the Lorenzos, the Belzbergs, the Lindners.  The thugs who did their dirty work and were called arbitragers, takeover artists, greenmailers, asset-strippers—anything but mobsters and thugs.

 

You don’t want to go after these criminals?  Then don’t start talking about throwing people in jail.  This is the crowd that looted the country for the account of their masters in the City of London. 

REMEMBER  CARTER  &  VOLCKER?

 

 

You want to talk about corruption in the S&L’s?  Then you want to talk about Paul Vol­cker, the thug whom Jimmy Carter ap­pointed Fed­eral Reserve chief.  Remember him?  Twelve years ago, he was the one who put interest rates through the roof.  He’s the one who bankrupted the S&L’s by 1981.  And then what?  Did you ever hear of the New York investment house Salomon Brothers?  They are the ones who invented something called mortgage-backed securities.  Congress in 1981 passed a law which ordered S&L’s to sell their mort­gages outstanding, and to write off losses incurred in the sales against taxes paid before 1978.  Salomon Brothers, thanks to Henry Kissinger’s business partner, William Simon, a former Treasury Secretary and Salomon bond trader, was the only in­vestment house in the country with the set-up to handle the sales.  They borrowed cheap outside the country, to finance the mortgages through changes in government agencies like Fanny Mae and Freddy Mac.  They got the government to put its faith and credit behind the international market they had created to loot the S&L’s Vol­cker bankrupted.  Mortgages traded as securities became the basis for the off-balance sheet liabilities which helped fin­ish off the banking system as a whole.  Jim Wright, the front­man for S&L sleaze, got thrown out of congress.  Who took his place as Speaker of the House?  Tom Foley, the Congressman from Salomon Brothers.

 

What is Salomon Brothers?  It is owned, in part, by the com­modity trading arm of the Oppenheimer gold, diamond, and raw materials syndicate through the Oppenheimer subsidiary Phibro.  It is the same crowd which works through Skadden, Arps.

 

 

ALONG  CAME  BUSH

 

 

You want to clean this up?  Then you’ve got to get rid of what the Japanese call “American flea market economics”.  That is what it is.  This is the crowd which has looted the United States in the name of deregulation and flea-market economics.  Jimmy Carter again; he started the deregulation  of the bank­ing system, of transportation and utilities.  Then under Rea­gan who was it?  It was George Bush and Donald Regan, chairman and vice-chairman of the Presidential Com­mission on Regulatory Relief.  They set the rules under which the country was driven into bankruptcy after 1982.  You want to talk about corrup­tion?  Take a look at what used to be the First Republic Bank of Dallas and how it was taken over by North Carolina Na­tional Bank.  Take a look at Texas Commerce Bancshares and how it was taken over by Chemical Bank from New York.  Take a look at the buyout of RJR-Nabisco, the $25 billion “deal of the century”, and which shareholders pocketed the cash.  Then go visit Skadden, Arps.

 

And you will find lots and lots more that you never thought about.  So be it.

 

 

Dharma, it has been far too long a day at this keyboard, allow us to close.  Thank you for this day of service.  I am sorry to work so many hours but the work must be going forth and the time is short.  There is simply no way to get it all into your hands so we will pick and choose and give you what appears most appropriate and in priority for your attention and action.  You can make a big im­pact, dear ones, in November at election polls!!!  Saalome’ 

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Feb. 24, 2011