Tuesday, September 22, 2009

The Plotting Continues

Following testimony in the morning before the House Financial Services Committee on the Administration’s proposals for regulatory reform, Treasury Secretary Geithner will meet in the afternoon with former vice chairman and managing director of Goldman Sachs International, Mario Draghi.

Draghi will meet with Geithner in his capacity as Chairman of the Financial Stability Board, in advance of the G-20 Summit in Pittsburgh this week.

The Financial Stability Board is one of the front groups the U.S. is using in an attempt to control global financial regulation. Back in April Geithner wrote in FT:
In addition to measures to boost the global economy and support the international financial institutions, leaders agreed that the Financial Stability Forum, renamed the Financial Stability Board (FSB) and expanded to include all of the G20 nations, should be given greater responsibility for the stability of the international financial system.
On November 13, 2008, Draghi and IMF head Strauss-Kahn sent a letter to the G-20 leaders, with the guidelines of the plan which envisions the FSF and the IMF as the two pillars of the world finance.

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