Re: ShoreBank –The Change America Voted In / true but sad at the same time…

By: “A SOURCE”

As always I remind readers that this has been going on for quite some time under Presidents of BOTH parties… ~jude

So . . . you think you know quite a bit about Obama and his band of thieves.
You don’t know anything yet.  Read on all of this as it all comes together in the last part……..  a must read.

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This is an interesting story put together from various articles and TV shows by the British Times paper.  It shows what Obama and his friends are really all about.  It’s not hope and change, it is money.

I warn you, the first part is a little boring, but stick with it. The
second part connects all the dots for you (it will open your eyes). The end explains how Obama and all his cronies will end up as
multi-billionaires.  (It’s definitely worth the read.  You will not be disappointed).

A small bank in Chicago called SHOREBANK almost went bankrupt during the recession. The bank made a profit on its foreign micro-loans (see below) but had lost money in sub-prime mortgages in the US .  It was facing likely closure by federal regulators.  However, because the bank’s executives were well connected with members of the Obama Administration, a private rescue bailout was arranged.  The bank’s employees had donated money to Obama’s Senate campaign.  In other words, ShoreBank was too politically connected to be allowed to go under.

ShoreBank survived and invested in many “green” businesses such as solar panel manufacturing.  In fact, the bank was mentioned in one of Obama’s speeches during his election campaign because it subjected new business borrowers to eco-litmus tests.

Prior to becoming President, Obama sat on the board of the JOYCE FOUNDATION, a liberal charity.  This foundation was originally established by Joyce Kean’s family which had accumulated millions of dollars in the lumber industry.  It mostly gave funds to hospitals but after her death in 1972, the foundation was taken over by radical environmentalists and social justice extremists.

This JOYCE FOUNDATION, which is rumored to have assets of 8 billion dollars, has now set up and funded, with a few partners, something called the CHICAGO CLIMATE EXCHANGE, known as CXX.  It will be the exchange (like the Chicago Grain Futures Market for agriculture) where Environmental Carbon Credits are traded.

Under Obama’s new bill, businesses in the future will be assessed a tax on how much CO2 they produce (their Carbon Footprint) or in other words how much they add to global warming. If a company produces less CO2 than their allotted measured limit, they earn a Carbon Credit. This Carbon Credit can be traded on the CXX exchange.  Another company, which has gone over their CO2 limit, can buy the Credit and “reduce” their footprint and tax liability.  It will be like trading shares on Wall Street.

Well, it was the same JOYCE FOUNDATION, along with some other private partners and Wall Street firms that funded the bailout of ShoreBank.
The foundation is now one of the major shareholders.  The bank has now been designated to be the “banking arm” of the CHICAGO CLIMATE EXCHANGE (CXX).  In addition, Goldman Sachs has been contracted to run the investment trading floor of the exchange.

So far so good; now the INTERESTING parts.

One ShoreBank co-founder, named Jan Piercy, was a Wellesley College roommate of Hillary Clinton.  Hillary and Bill Clinton have long supported the bank and are small investors.

Another co-founder of Shorebank, named Mary Houghton, was a friend of Obama’s late mother.  Obama’s mother worked on foreign MICRO-LOANS for the Ford Foundation.  She worked for the foundation with a guy called Geithner. Yes, you guessed it.  This man was the father of Tim Geithner, our present Treasury Secretary, who failed to pay all his taxes for two years.

Another founder of ShoreBank was Ronald Grzywinski, a cohort and close friend of Jimmy Carter.

The former ShoreBank Vice Chairman was a man called Bob Nash.  He was the deputy campaign manager of Hillary Clinton’s presidential bid.  He also sat on the board of the Chicago Law School with Obama and Bill Ayers, the former terrorist.  Nash was also a member of Obama’s White House transition team.

(To jog your memories, Bill Ayers is a Professor at the University of Illinois at Chicago .  He founded the Weather Underground, a radical revolutionary group that bombed buildings in the 60s and 70s.  He had no remorse for those who were killed, escaped jail on a technicality, and is still an admitted Marxist).

When Obama sat on the board of the JOYCE FOUNDATION, he “funneled” thousands of charity dollars to a guy named John Ayers, who runs a dubious education fund.  Yes, you guessed it.  The brother of Bill Ayers, the terrorist.

Howard Stanback is a board member of Shorebank.  He is a former board chairman of the Woods Foundation.  Obama and Bill Ayers, the terrorist, also sat on the board of the Woods Foundation.  Stanback was formerly employed by New Kenwood Inc. a real estate development company co-owned by Tony Rezko.

(You will remember that Tony Rezk o was the guy who gave Obama an amazing sweet deal on his new house.  Years prior to this, the law firm of Davis, Miner, Barnhill & Galland had represented Rezko’s company and helped him get more than 43 million dollars in government funding.  Guess who worked as a lawyer at the firm at the time.  Yes, Barack Obama).

Adele Simmons, the Director of ShoreBank, is a close friend of Valerie Jarrett, a White House senior advisor to Obama. Simmons and Jarrett also sit on the board of a dubious Chicago Civic Organization.

Van Jones sits on the board of ShoreBank and is one the marketing directors for “green” projects.  He also holds a senior advisor position for black studies at Princeton University .  You will remember that Mr. Van Jones was appointed by Obama in 2009 to be a Special Advisor for Green Jobs at the White House.  He was forced to resign over past political activities, including the fact that he is a Marxist.

Al Gore was one of the smaller partners to originally help fund the CHICAGO CLIMATE EXCHANGE. He also founded a company called Generation Investment Management (GIM) and registered it in London , England . GIM has close links to the UK-based Climate Exchange PLC, a holding company listed on the London Stock Exchange.  This company trades Carbon Credits in Europe (just like CXX will do here) and its floor is run by Goldman Sachs.

Along with Gore, the other co-founder of GIM is Hank Paulson, the former US Treasury Secretary and former CEO of Goldman Sachs.  His wife, Wendy, graduated from and is presently a Trustee of Wellesley College.  Yes, the same college that Hillary Clinton and Jan Piercy, a co-founder of Shorebank attended.  (They are all friends).

Interesting? And now the closing…

Because many studies have been exposed as scientific nonsense, people are slowly realizing that man-made global warming is nothing more than a money-generating hoax. As a result, Obama is working feverishly to win the race.  He aims to push a Cap-and-Trade Carbon Tax Bill through Congress and into law.

Obama knows he must get this passed before he loses his majority in Congress in the November elections.  Apart from Climate Change he will “sell” this bill to the public as generating tax revenue to reduce our debt.  But, it will also make it impossible for US companies to compete in world markets and drastically increase unemployment.  In addition, energy prices (home utility rates) will sky rocket.

But, here’s the KICKER (THE MONEY TRAIL).

If the bill passes, it is estimated that over 10 TRILLION dollars each y ear will be traded on the CXX exchange.  At a commission rate of only 4 percent, the exchange would earn close to 400 billion dollars to split between its owners, all Obama cronies.  At a 2 percent rate, Goldman Sachs would also rake in 200 billion dollars each year.

But don’t forget SHOREBANK.  With 10 trillion dollars flowing though its accounts, the bank will earn close to 40 billion dollars in interest each year for its owners (more Obama cronies), without even breaking a sweat.

It is estimated Al Gore alone will probably rake in 15 billion dollars just in the first year. Of course, Obama’s “commissions” will be held in trust for him at the Joyce Foundation.  They are estimated to be over 8 billion dollars by the time he leaves office in 2013, if the bill passes this year.  Of course, these commissions will continue to be paid for the rest of his life.

Some financial experts think this will be the largest “scam” or”legal heist” in world history.  Obama’s cronies make the Mafia look like rank amateurs.  They will make Bernie Madoff’s fraud look like penny ante stuff.

http://www.chicagoclimatex.com/

Welcome to CCX: We are a financial institution whose objectives are to apply financial innovation and incentives to advance social, environmental and economic goals through the following platforms.

Chicago Climate Exchange (CCX) operates North America’s only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide.

CCX Members are leaders in greenhouse gas (GHG) management and represent all sectors of the global economy, as well as public sector innovators. Reductions achieved through CCX are the only reductions made in North America through a legally binding compliance regime, providing independent, third party verification by the Financial Industry Regulatory Authority (FINRA, formerly NASD). The founder and chairman of CCX is economist and financial innovator Dr. Richard L. Sandor, who was named a Hero of the Planet by Time Magazine in 2002 for founding CCX, and in 2007 as the “father of carbon trading.”

CCX emitting Members make a voluntary but legally binding commitment to meet annual GHG emission reduction targets. Those who reduce below the targets have surplus allowances to sell or bank; those who emit above the targets comply by purchasing CCX Carbon Financial Instrument® (CFI®) contracts.

CFI Contracts, the CCX Tradable Commodity

The commodity traded on CCX is the CFI contract, each of which represents 100 metric tons of CO₂equivalent.  CFI contracts are comprised of Exchange Allowances and Exchange Offsets.  Exchange Allowances are issued to emitting Members in accordance with their emission baseline and the CCX Emission Reduction Schedule.  Exchange Offsets are generated by qualifying offset projects.

Goals of CCX:

• To facilitate the transaction of GHG allowance trading with price transparency, design excellence and environmental integrity
• To build the skills and institutions needed to cost-effectively manage GHGs
• To facilitate capacity-building in both public and private sectors to facilitate GHG mitigation
• To strengthen the intellectual framework required for cost effective and valid GHG reduction
• To help inform the public debate on managing the risk of global climate change

Benefits of Membership:

• Be prepared: mitigate financial, operational and reputational risks
• Reduce emissions using the highest compliance standards with third party verification
• Prove concrete action on climate change to shareholders, rating agencies, customers and citizens
• Establish a cost-effective, turnkey emissions management system
• Drive policy developments based on practical, hands-on experience
• Gain leadership recognition for taking early, credible and binding action to address climate change
• Establish early track record in reductions and experience with growing carbon and GHG market

Obama says he still supports climate legislation…

Financial Stability Board

The Financial Stability Board (FSB) has been established to address vulnerabilities and to develop and implement strong regulatory, supervisory and other policies in the interest of financial stability.

FSB Chairman welcomes European bank stress tests

FSB Chairman Mario Draghi welcomed the European bank stress tests in a statement on 23 July. “Such tests are a central part of the process of improving transparency about risk exposures … The stress test exercise is an important contribution to bolstering confidence in the European banking system and strengthening the resilience and robustness of the global financial system.’, he said.

Invitation for public feedback on risk disclosure practices

The FSB has launched a peer review of the implementation of the recommendations concerning risk disclosures by market participants that were made in the April 2008 Financial Stability Forum Report on Enhancing Market and Institutional Resilience. These recommendations related in large part to disclosures about structured products and certain other risk exposures that were of concern to market participants in 2008. The review will focus on implementation of the recommendations by FSB member jurisdictions and by the major financial institutions located in those jurisdictions.

We would welcome feedback from investors, audit firms, financial institutions, industry associations and other stakeholders on their practical experiences as users of the resulting disclosures or in implementing the risk disclosure recommendations. Feedback should be submitted by 10 September 2010 to fsb@bis.org under the subject heading “FSB Thematic Peer Review on Risk Disclosure.” See the attached press release for more details.

Reports to the G20 Summit in Toronto

The FSB submitted to G20 Leaders meeting at the Toronto Summit on 26-27 June a letter from the FSB Chairman on progress and issues in the global regulatory reform agenda.

The FSB released its interim report on reducing the moral hazard of systemically important financial institutions, in order to address the “too big to fail” problem. The report sets out six principles to be used in developing policy recommendations in the coming months. The final version of the report will be produced for the November Summit in Seoul.

The FSB also published its latest overview of progress in implementing the G20 recommendations for strengthening financial stability. This sets out the advances made on a wide range of policy initiatives by the FSB and its members.

Unwinding Crisis-related Deposit Insurance Arrangements

The staffs of the International Association of Deposit Insurers and the International Monetary Fund have published an Update on Unwinding Temporary Deposit Insurance Arrangements. The FSB had requested the update to highlight any major recent changes and developments that have occurred since the completion of the original IADI-IMF report on the subject in September 2009. The report draws on a survey of over 50 jurisdictions, It finds:

·     a trend toward maintaining higher permanent levels of depositor protection following the unwinding of the special measures;

·     some postponements of the planned unwinding of extraordinary protection; and

·     regional cooperation remains an important goal.

Framework for strengthening adherence to international standards

Under this framework, the FSB will foster a race to the top. FSB member jurisdictions will lead by example and undergo periodic peer reviews. The first peer review is on implementation of the FSB Principles for Sound Compensation Practices and their Implementation Standards and will be completed in March 2010.

On 10 March 2010, the FSB launched an initiative to encourage all countries and jurisdictions to raise their level of adherence to international cooperation and information exchange standards, including by identifying non-cooperative jurisdictions and assisting them to improve their compliance.

Press Briefing by Caroline Atkinson, Director, IMF External Relations

Cat is out of the bag on new crisis/manufactured fear

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