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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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Dec 30 4:00 PM EST

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To: TobagoJack who wrote (105104)	3/18/2014 1:22:03 PM
From: Haim R. Branisteanu	Read Replies (1) of 218847

Fed Nominee Stanley Fischer’s Cayman Islands Problem wallstreetonparade.com Fischer left Citigroup and immediately became the head of the Bank of Israel, serving in that post until June of last year. But despite the Bank of Israel having a supervisory role over banks operating in the country through its Banking Supervision Department and Citigroup boasting that it has the largest presence of any foreign bank in Israel, Fischer did not exit his Citigroup Employee Fund of Funds I LP in the Cayman Islands. According to his current financial disclosures to the Senate, Fischer kept that investment after leaving Citigroup and currently holds between $100,000 to $250,000 in the Fund. (That amount may not include other distributions that have been paid out over the years.) Fischer says he’ll exit the Fund if he’s confirmed to sit on the Fed Board of Governors. The Citigroup Employee Fund of Funds I LP is so secretive that on December 31, 2001, the SEC filed a request on behalf of Citigroup in the Federal Register requesting to exempt it and other key employee limited partnership funds at Citigroup from certain provisions of securities laws. The SEC said it was going to approve the exemptions unless someone convinced it to hold a hearing. We could find no information on the SEC’s web site to suggest that the exemptions were not approved or that a hearing was held. According to Bloomberg News, Fischer now has a net worth between $14.6 million to $56.3 million, according to his financial disclosure report with the Office of Government Ethics. That’s more than a $40 million spread and a preposterous method of presenting financial disclosures to the public. On its web site, Citigroup boasts that it has “the largest presence of any foreign financial institution in Israel and offers corporate and investment banking services to leading Israeli corporations and institutions, and global corporations operating in Israel. Citi also offers private banking services to high-net-worth individuals living in Israel.” Stanley Fischer, Former Vice Chairman of Citigroup, Nominated to Serve as Vice Chairman of the Federal Reserve Board of Governors

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