Top U.S. Treasury Officials secretly conspired with a small cabal of banker to rip apart financial regulation across the planet in 1997.
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The ‘End-Game Memo’ – The plan to eliminate controls on banks in every nation on the planet — in one single move, and force all WTO countries to trade in toxic US Derivatives.
Source GregPalast.com
Max Keiser interviews author, journalist and filmmaker, Greg Palast of GregPalast.com, about the Larry Summers secret ‘End Game’ memo and the decriminalization of what were once financial crimes.
Read the full story by Greg Palast – Click the link Larry Summers and the Secret “End-Game” Memo Summary below.
Repeal of the Glass-Steagall Act was to dismantle the barrier between commercial banks and investment banks.
US Deputy Treasury Secretary Larry Summers (soon to replace Robert Rubin as US Treasury Secretary)
“Summers wrote that law about Derivatives, saying they are not only legal, but you can’t regulate them.”
“In the case of what’s called the Glass-Stegall Act, we took regular commercial banks, your savings bank, your piggy bank, and mixed them, allowed them to mix up and use your government insured deposits to gamble through investment banks on derivatives and other speculative junk.
It was like saying, OK we’re going to replace a bank vault with a roulette wheel.” Greg Palast.
Banks in Control the US Treasury?
“Larry reports to Goldman Sacks,……………, Summers has to report to the head of Goldman, has to report to the Bank of America; they are not allowed to do anything unless they call these five (Big Bank) CEO’s.”
The following Information is derived from Greg Palasts’ Website & Interview
Read the full story by Greg Palast – Click the link Larry Summers and the Secret “End-Game” Memo