May 13 (Bloomberg) -- Former Treasury Secretary Paulson said nine U.S. banks would have to accept $125 billion in government investments or be forced to by regulators, according to a memo prepared for a meeting with the lenders’ chief executive officers in October...Three and a half hours after the meeting was scheduled to begin, Paulson had obtained the bankers’ signatures on half-page forms along with the handwritten amount of the federal government’s investment, according to the documents. He announced the actions publicly the next day.
In releasing the documents, Judicial Watch said Treasury initially said it had no records about the meeting. It didn’t release a transcript of discussions between government officials and bankers...
Accompanying Paulson were Federal Reserve Chairman Ben Bernanke, Federal Deposit Insurance Corp. Chairman Sheila Bair and New York Federal Reserve Bank President Timothy Geithner, who succeeded Paulson as Treasury secretary...
The Monday meeting came after Paulson huddled with Geithner, Bair and Treasury aides Sunday afternoon and then placed calls that evening to each CEO except Blankfein, according to the secretary’s daily activity log.
Birds of a feather flock together. Both Paulson and Bernanke have publicly denied this. Ooops. Obama has also stated Geithner has not been involved in much of these things. Ooops. Who stopped collecting FDIC premiums in the boom years? Now they are out of money. Ooops.
