{"id":184666,"date":"2012-02-18T22:39:00","date_gmt":"2012-02-19T03:39:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/02\/18\/ha-ha-8\/"},"modified":"2012-02-18T22:39:00","modified_gmt":"2012-02-19T03:39:00","slug":"ha-ha-8","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2012\/02\/18\/ha-ha-8\/","title":{"rendered":"Ha Ha!"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/i.imgur.com\/212uv.jpg\" style=\"cursor: pointer; float: right; margin: 0px 0px 10px 10px;\" width=\"350\" \/>Lehman and its its creditors have <a href=\"http:\/\/www.blogger.com\/dealbook.nytimes.com\/2012\/02\/17\/lehman-and-its-creditors-seek-to-subpoena-geithner\/\">subpoenaed Timothy Geithner over his discussions with JPMorgan Chase over the time when the investment bank collapsed<\/a>:<\/p>\n<blockquote style=\"color: blue;\"><p>Lehman Brothers\u2018 bankruptcy estate and its official committee of unsecured creditors asked a court late on Thursday to compel Treasury Secretary Timothy F. Geithner to testify about the investment bank\u2019s collapse.<\/p>\n<p>The request for a subpoena comes as part of the estate\u2019s lawsuit against JPMorgan Chase, which asserts that the bank illegally took $8.6 billion in collateral from Lehman, precipitating that firm\u2019s demise.<\/p>\n<p>The lawsuit\u2019s main argument is that JPMorgan, apprised of Lehman\u2019s fragile condition, improperly profited from making its collateral demands \u2014 and also pushed Lehman into bankruptcy.<\/p>\n<p>Lawyers for Lehman\u2019s creditors wrote in a court filing that they and the estate served Mr. Geithner with a subpoena last August, ordering him to testify about conversations he had held with both JPMorgan and Lehman over the former\u2019s calls for collateral in early September 2008.<\/p>\n<p>Mr. Geithner, then president of the Federal Reserve Bank of New York, spoke with JPMorgan\u2019s chief executive, Jamie Dimon, 10 times in the week before Lehman fell, according to the filing. Many of those conversations, the lawyers contend, must have been about JPMorgan\u2019s collateral demands.<\/p><\/blockquote>\n<p>Basically, Lehman is asserting that Jamie Dimon&#8217;s bully boys stole from them in order to push them over into bankruptcy.<\/p>\n<p>The implication is that they did so because they knew that, in the event of a collapse, they would get to keep the money.<\/p>\n<p>Note that they are <b>not<\/b> asking about deliberations at the NY Fed, but the content of his discussions with Jamie Dimon.<\/p>\n<p>Still, I relish the though of Geithner in the dock forced to answer questions about his dealings with the big banks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lehman and its its creditors have subpoenaed Timothy Geithner over his discussions with JPMorgan Chase over the time when the investment bank collapsed: Lehman Brothers\u2018 bankruptcy estate and its official committee of unsecured creditors asked a court late on Thursday to compel Treasury Secretary Timothy F. Geithner to testify about the investment bank\u2019s collapse. The &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004,972,1019],"tags":[],"class_list":["post-184666","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance","category-justice","category-schadenfreude"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184666"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=184666"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/184666\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=184666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=184666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=184666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}