Obama Rules of Cellar Boxing, Canadian Geithner Fraud

Source: CAPTAIN SHERLOCK blogs.telegraph.co.uk/news/jamesdelingpole

Climategate was never primarily a science fraud it was always a security and insider trading fraud with kickbacks to Teachers (TIAA-CREF) members such as Barack Obama and Michael Mann-Made AGW.

Hawks CAFE believes that Barack Obama and the Kellogg School of (Climate Change) Management, wrote the rules of ‘cellar boxing’ a form of naked short selling, allegedly used by Canadian private equity groups and the former president of the Federal Reserve Bank of New York—Timothy Geithner—to destroy the United States automobile industry and its banks, financial institutions and insurance companies.

Our KSM agents have evidence that Obama and Geithner conspired with insiders of the Canadian American Investors (CAI) private equity group to set up virtual (online) cellar boxes and process naked short sale orders out of Canada and other offshore locations.

Geithner faces demand for AIG phone records
By Tom Braithwaite, Financial Times

14 Jan 2010—The House oversight committee has submitted a legal demand for any phone records and e-mails from Tim Geithner that discuss payments from the New York Federal Reserve to AIG’s counterparties. Republicans on the committee are attempting to link the Treasury secretary to the bail-out of AIG’s counterparties – a list headed by Société Générale and Goldman Sachs – which were made while Mr Geithner was president of the New York Fed. The Treasury has said Mr Geithner recused himself from the case ahead of a move to the top economic job in Barack Obama’s new administration.

The New York Fed has emphasised that Mr Geithner played no part in a decision not to disclose details about the AIG payments. In 2008, with AIG under threat of collapse because of demands from counterparties that the insurance group pay increasing amounts of cash collateral on credit default swaps, the New York Fed stepped into avert what it believed could be an event that threatened the financial system. But its decision to pay $27.1bn to 16 institutions has been subject to scrutiny ever since, with both Democrats and Republicans asking why the New York Fed did not demand a discount from the banks and whether it improperly asked AIG to withhold details on the deal from the Securities and Exchange Commission.

Wikipedia
Timothy Franz Geithner…is the 75th and current United States Secretary of the Treasury, serving under President Barack Obama. He was previously the president of the Federal Reserve Bank of New York. Geithner’s position includes a large role in directing the Federal Government’s economic response to the financial crisis which began after December 2007. Specific tasks include directing the allocation of the $350 billion of Wall Street bailout funds.

He is currently dealing with multiple high visibility issues, including the survival of the automobile industry, the restructuring of banks, financial institutions and insurance companies, recovery of the mortgage market, demands for protectionism, President Obama’s tax changes, and relations with foreign governments that are dealing with similar crises.

His father, Peter F. Geithner, was the director of the Asia program at the Ford Foundation in New York in the 1990s. During the early 1980s, Peter Geithner oversaw the Ford Foundation’s microfinance programs in Indonesia being developed by Ann Dunham, President Barack Obama’s mother, and they met in person at least once. He was Under Secretary of the Treasury for International Affairs (1998–2001) under Treasury Secretaries Robert Rubin and Lawrence Summers.

Summers was his mentor, but other sources call him a Rubin protégé. In March 2008, he arranged the rescue and sale of Bear Stearns. In the same year, he played a supporting role to Hank Paulson, former CEO of Goldman Sachs, in the decision to bail out AIG just two days after deciding not to rescue Lehman Brothers from bankruptcy. According to some observers, Geithner severely damaged the U.S. economy. As a Treasury official, he helped manage multiple international crises of the 1990 in Brazil, Mexico, Indonesia, South Korea, and Thailand”

Cellar Boxing
investorshub.advfn.com
There’s a form of the securities fraud known as naked short selling that is becoming very popular and lucrative to the Market Makers that practice it. It is known as “Cellar boxing” and it has to do with the fact that the NASD and the SEC had to arbitrarily set a minimum level at which a stock can trade. This level was set at $.0001 or one-one hundredth of a penny.

“Cellar boxing” has been one of the security frauds du jour since 1999…In fact, until the “beefed up” version of Rule 3370 (Affirmative determination in writing of “borrowability” by settlement date) becomes effective, U.S. MMs have been “legally” processing naked short sale orders out of Canada and other offshore locations even though they and the clearing firms involved knew by history that these shares were in no way going to be delivered. The question that then begs to be asked is how “the system” can allow these obviously bogus sell orders to clear and settle. To find the answer to this one need look no further than to Addendum “C” to the Rules and Regulations of the NSCC subdivision of the DTCC. This gaping loophole allows the DTCC, which is basically the 11,000 b/ds and banks that we refer to as “Wall Street”, to borrow shares from those investors naive enough to hold these shares in “street name” at their brokerage firm. This amounts to about 95% of us.

Theoretically, this “borrow” was designed to allow trades to clear and settle that involved LEGITIMATE 1 OR 2 DAY delays in delivery. This “borrow” is done unbeknownst to the investor that purchased the shares in question and amounts to probably the largest “conflict of interest” known to mankind. The question becomes would these investors knowingly loan, without compensation, their shares to those whose intent is to bankrupt their investment if they knew that the loan process was the key mechanism needed for the naked short sellers to effect their goal?”