ALLIANZ WITH THE DEVIL: Why Treasury Secretary Paulson was in such a hurry to bail out Wall Street! -- The Catbird's Forum

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Date Posted: 06:50:55 10/27/08 Mon
Author: The Whistler
Subject:

ALLIANZ WITH THE DEVIL: Why Treasury Secretary Paulson was in such a hurry to bail out Wall Street!

ALLIANZ with the DEVIL!

Why Treasury Secretary Henry Paulson was in such a hurry to bail out Wall Street billionaires...

January 27, 2006

Goldman Sachs Forms Strategic Alliance with ICBC

http://www.goldmansachs.com

BEIJING � Industrial and Commercial Bank of China Limited (ICBC) today announced the signing of definitive agreements with The Goldman Sachs Group, Inc., Allianz Group and American Express Company, which include investments totaling US$3.78 billion in ICBC and wide ranging strategic cooperation initiatives....

The agreements are subject to the approval of the China Banking Regulatory Commission.

Under the agreements, each of the strategic investors will cooperate with ICBC across a range of business and management areas. Goldman Sachs will assist ICBC to develop further the bank's corporate governance, risk management and internal controls, as well as to provide expertise to enhance ICBC's capabilities in treasury, asset management, corporate and investment banking, non-performing loans disposal and product innovation.

Allianz Group will cooperate with ICBC to provide leading bancassurance products and services to the Bank's clients, while American Express and ICBC will continue to develop their existing strategic cooperation in the bank card business.

Mr. Jiang Jianqing, Chairman of ICBC, said: "I am delighted that ICBC has formed these strategic alliances with three very special partners. Today's announcement marks a new beginning for ICBC's corporate governance reform and business development."

Mr. Henry M. Paulson, Jr., Chairman and Chief Executive Officer of Goldman Sachs, said: "Today's agreement strengthens our long-standing commitment to ICBC and to China and its financial sector reform. This represents the beginning of what I am sure will be a long and successful relationship between our organizations."

Mr. Michael Diekmann, Chairman of Allianz Group, said: "China is a strategic market for Allianz and this partnership emphasizes our long-term commitment to the market. This is an excellent investment opportunity that also offers a platform for our strategic expansion in China. Through this agreement, Allianz will become one of ICBC�s most important insurance and investment product providers."

"ICBC has been an excellent card issuing partner for American Express, and we are delighted to deepen our strong, strategic relationship," said Kenneth I. Chenault, Chairman and Chief Executive Officer of American Express. "This investment is a reflection of our confidence in our partner, ICBC, our strong interest in the Chinese market, and our deep commitment to support this market through quality products and services for Chinese consumers that satisfy their growing needs."

ICBC

ICBC is the largest wholesale and retail bank in China by assets and deposits and is a market leader in many business areas including corporate and personal loans, deposits, mortgages, e-banking, custodian services and inter-bank clearing. It provides a wide range of commercial banking services to corporate and individual customers. ICBC has approximately 18,000 outlets and employs 360,000 people across China. It had total assets of RMB6.3 trillion at the end of 2005.

Goldman Sachs

Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of services worldwide to a substantial and diversified client base that includes corporations, financial institutions, governments and high net worth individuals. Founded in 1869, it is one of the oldest and largest investment banking firms. The firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.

Allianz

Allianz Group is one of the world's leading insurers and financial services providers. Founded in 1890, Allianz is present in more than 70 countries with over 162,000 employees. Allianz provides its more than 60 million customers worldwide with a comprehensive range of services in the areas of property and casualty insurance, life and health insurance, asset management and banking. At the end of 2004, Allianz had more than one trillion euros in assets under management.

American Express

American Express Company is a diversified worldwide travel, financial and network services company, founded in 1850. It is a world leader in charge and credit cards, Travelers Cheques, travel, and business services. Since 1996 American Express has been aggressively pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, the company aims to gain even broader reach for its network worldwide.

American Express has now established close to 100 card-issuing partnership arrangements in nearly 110 countries. American Express and ICBC entered into a card partnership in March 2004, and the ICBC American Express Card was launched in December 2004.
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May 2, 2005

Insurer to Investigate Alleged 9/11 Insurance Fraud

http://www.globalresearch.ca

A proposal by a small shareholder to withhold approval from the Board of Directors for failure to investigate signs of insurance fraud on 9/11 has been published on the website of the Allianz Group, one of the world's largest insurers, in preparation for its May 4th annual meeting.

Allianz Group published a shareholder proposal on April 20th faulting management for ignoring signs of insurance fraud on 9/11/2001. Allianz carried a significant portion of the insurance coverage on the WTC, and stands to pay a corresponding portion of the $3.5 billion payout currently being litigated in New York.

In his proposal, shareholder John Leonard, a California native and a publisher of books on 9/11, pointed to reports that building WTC 7 apparently collapsed by demolition, and for no plausible reason related to the 9/11 attacks. Management replied that it relied on official US government reports which made no mention of such evidence.

The Allianz Group is incorporated in Germany and has approximately 570,000 shareholders. Under German Stock Companies law, publicly held companies are required to publish shareholder proposals that meet certain criteria...

Continued at: http://www.kycbs.net/Allianz.htm

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