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mathematically perfected economy™ (MPE™)    1  :   the singular integral solution of  1) inflation and deflation,  2) systemic manipulation of the cost or value of money or property, and  3) inherent, artificial multiplication of debt into terminal systemic failure;    2  :  every prospective debtor's right to issue legitimate promises to pay, free of extrinsic manipulation, adulteration, or exploitation of those promises, or the natural opportunity to make good on them;    3  :  our right to certify, to enforce, and to monetize industry and commerce by this one sustaining and truly economic process.

MORPHALLAXIS, January 14, 1979.

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 Post subject: Lawsuit: PONZI SCHEME at Citi? New York Post Inquire?
PostPosted: 17 Dec 2008, 12:40 pm 
Offline

Joined: 29 Jan 2008, 6:06 pm
Posts: 731
Quote:
"Secrecy is a badge of fraud."
Sir John Chadwick, born 1941, British judge.


Fraud breads Fraud no questions about it.
Impossible event & not capable of existing under mathematically perfected economic policy, for under mathematically perfected economic condition there is no fractional reserves banking system disallowing by default those circumstances to take place.

You - the readeress or the reader be the judge.
Quote:
"The key ingredient in learning the truth is to ask the right questions."
"You can't solve a problem until you can measure it."
Daniel Patrick Moynihan, U.S. Senator from New York State. Excerpt from Tim Russert, "Big Russ and Me," Miramax Books, New York, 2004, page 266.



Quote:
http://www.nypost.com/seven/12042008/business/ponzi_scheme_at_citi_142511.htm
By PAUL THARP
ROBERT RUBIN<br/>Citigroup director.
ROBERT RUBIN
Citigroup director.

Last updated: 1:17 am
December 4, 2008
Posted: 12:37 am
December 4, 2008

A new Citigroup scandal is engulfing Robert Rubin and his former disciple Chuck Prince for their roles in an alleged Ponzi-style scheme that's now choking world banking.

Director Rubin and ousted CEO Prince - and their lieutenants over the past five years - are named in a federal lawsuit for an alleged complex cover-up of toxic securities that spread across the globe, wiping out trillions of dollars in their destructive paths.

Investor-plaintiffs in the suit accuse Citi management of overseeing the repackaging of unmarketable collateralized debt obligations (CDOs) that no one wanted - and then reselling them to Citi and hiding the poisonous exposure off the books in shell entities.

The lawsuit said that when the bottom fell out of the shaky assets in the past year, Citi's stock collapsed, wiping out more than $122 billion of shareholder value.

However, Rubin and other top insiders were able to keep Citi shares afloat until they could cash out more than $150 million for themselves in "suspicious" stock sales "calculated to maximize the personal benefits from undisclosed inside information," the lawsuit said.

The latest troubles for Rubin, Prince and others emerged in a 500-page investigation by Citigroup investors represented by law firm Kirby McInerney.

The probe was used to amend and add new details to a blanket investor lawsuit filed against Citigroup a year ago. The amended suit called the actions of Citi leaders "a quasi-Ponzi scheme" to hide troubles - and keep Citi stock afloat while insiders unloaded about 3 million shares between Jan. 1, 2004 and Feb. 22, 2008 for huge profits.

In addition to Citigroup, Rubin and Prince, the complaint names Vice Chairman Lewis Kaden, ex-CFO Sallie Krawcheck and her successor CFO Gary Crittenden.

Rubin cleared $30.6 million on his stock sales, while Prince got $26.5 million, former COO Robert Druskin got nearly $32 million and former Global Wealth Management unit chief Todd Thomson got $25.7 million, the suit said.

Citi denied the allegations and said it "will defend against it vigorously."


16 Comments on Wednesday, December 17, 2008
Quote:
User Image
robertsgt40 wrote:
Rubin-30 million? That's peanuts. Paulson walks off with $700,000,000 from Goldman. Even Helen Keller could read between the lines who's responsible for this international looting cabal.
12/12/2008 12:58 PM EST
Recommended (6)

Alok Bhattacharyya wrote:
Please bear with me. In my last comment I mentioned about PhD physicists and mathematicians working for banks. But they were not working as tellers in the banks. These people were hired to do complicated calculations (loop level) borrowed from quantum field theory and statistical mechanics. They are capable to take any number(s) as an input and produce any output as desired. Hence the banks hired at a much higher pay these people than they could earn in Universities or research institutes.

I know it as I got my PhD in physics from an American University and many of my contemporaries went to work at JP Morgan, Fannie May, Goldman Sachs, Deutsche Bnak etc.

Their bosses told them to inflate the value of anything to any number to any number and these people did that.

No ordinary deivatives traders or brockers can ever understand any formula(e) to calculate the value of anything. These are too compilcated but intentinally.

But there are some conservation laws for energy, momentum etc in physics. Where every (loop level) calculation has to abide by them. In finance and banking there is no such conserved quantity as credit can be created from thin air and destroyed also to that. Hence the fiasco.

12/12/2008 12:02 PM EST
Recommended (15)

Alok Bhattacharyya wrote:
I fail to understand why nobody brought Federal RICO charges againsts fraudsters like this before the Senate passed the £700 Billion rescue deal. Why is it so difficult to understand that it is not possible to grow money on trees, even if you employ PhD mathematicians and physicists, like these banks in their hay-days were claiming? They were only repackaging debt and selling them back and forth.
12/12/2008 11:36 AM EST
Recommended (5)

jiwalden wrote:
okay. who let the news out?
12/8/2008 1:06 AM EST
Recommend

pv327 wrote:
rubin, milkin, boesky, levin etc, dirty jewish moneychangers should be hung!
12/7/2008 6:56 AM EST
Recommend

EARTHMAN wrote:
"CitiCorp is to big to allow it to fail!" These words were actually said by members of congress and assorted "experts."

I'm quite certain these people were well aware of the fraud before they said those words to the people expected to bail them out, US!

Nations, corporations, organizations, and individuals who can no longer function successfully according to the immutable laws of reason, and the natural laws of the universe, must not only be allowed to fail, but honest reasonable people must forcefully put them out of their misery so capable, honorable, people can rebuild our nation.

No bailouts, PERIOD. Not for the banks; not for the auto manufacturers; not for the airlines; insurance companies, etc.

The crucible of failure is the birthplace of success. But only if the dead are buried. Remembered, but buried.
12/5/2008 11:09 PM EST
Recommended (19)

Draconius Horribilus wrote:
Could it be that he's getting not because he's a Democrat, but because he is a member of a certain race which controls the media, the courts, academia, hollywood, and the US government. Is it racist to say this? How long before they take this post down?
12/5/2008 5:57 PM EST
Recommended (37)

jimmie wrote:
Everyone is missing the point.
With all these crooks having cleared the stock sales and making millions - they will be able to hire the best attorneys available and still walk away with several million.

We are truley a very stupid people.(Sheeple)
Baa... Baa...

Rubin cleared $30.6 million on his stock sales, while Prince got $26.5 million, former COO Robert Druskin got nearly $32 million and former Global Wealth Management unit chief Todd Thomson got $25.7 million, the suit said.

12/5/2008 1:06 AM EST
Recommend (10)

Ethan-in-Chicago wrote:
Neal @ 8:19 What's your point?

You say if Rubin [were] a Republican, he would be in jail. Then you say the MSM will not mention this because Wall Street Crooks are Republicans. WTF??

Do you think the Bush justice department is protecting Rubin because he is a Democrat? While at the same time the MSM is shielding "Wall Street Crooks" because they are Republicans?

Let me suggest to you that you put your mind in gear before you let out the clutch on your mouth. Restraint of tongue, pen, and send button is always worthwhile.
12/4/2008 6:26 PM EST
Recommend (5)

tarzan wrote:
now we really need a 'STAR CHAMBER'




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 Post subject: Re: Lawsuit: PONZI SCHEME at Citi? New York Post Inquire?
PostPosted: 17 Dec 2008, 7:57 pm 
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Joined: 08 Nov 2008, 8:21 pm
Posts: 248
The Rubin CitiBank Ponzi scandal is much bigger and more heinous (why not use the RICO laws to nail them?) than the Madoff crime spree. Are they trying to shift outrage to save a bigger thief?




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 Post subject: Re: Lawsuit: PONZI SCHEME at Citi? New York Post Inquire?
PostPosted: 18 Dec 2008, 12:30 am 
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Joined: 29 Jan 2008, 6:06 pm
Posts: 731
It appears the event is too close to new administration, therefor not on the MSM.

We are all victims
http://www.henrymakow.com/we_all_are_victims_of_a_giant.html

Source to follow up:
Quote:
"The latest troubles for Rubin, Prince and others emerged in a 500-page investigation by Citigroup investors represented by law firm Kirby McInerney"


http://www.newsdaily.com/news/business/u.s._district_court/

Silence & Stillness - no more news - it must be too hot to handle, deal with & manage it!
http://www.newsdaily.com/news/business/robert_rubin/




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 Post subject: Re: Lawsuit: PONZI SCHEME at Citi? New York Post Inquire?
PostPosted: 26 Dec 2008, 10:57 pm 
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Site Admin
User avatar

Joined: 24 Jan 2008, 8:33 pm
Posts: 492
Quote:
Secrecy is a badge of fraud.

It certainly is when "banking" is presumed to be some straightforward endeavor, and when it certainly isn't.

Quote:
Are they trying to shift outrage to save a bigger thief?

A further testament to desperate fraud.




mike


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"When the freedom they wished for most was the freedom from responsibility, then Athens ceased to be free, and never was free again."



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While 12,000 homes a day continue to go into foreclosure, mathematically perfected economy™ would re-finance a $100,000 home with a hundred-year lifespan at the overall rate of $1,000 per year or $83.33 per month. Without costing us anything, we would immediately become as much as 12 times as liquid on present revenue. Transitioning to MPE™ would apply all payments already made against existent debt toward principal. Many of us would be debt free. There would be no housing crisis, no credit crisis. Unlimited funding would immediately be available to sustain all the industry we are capable of.

There is no other solution. Regulation can only temper an inherently terminal process.

If you are not promoting mathematically perfected economy™, then you condemn us to monetary failure.



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