the games of bankstas fraud continue

barfly @ 10:42 am said

"how many trillions would the taxpayers have lost had nothing been done?"

the prez and congress did the second to worst thing they could have done

the worst would have been,,,as youve said,,,to do nothing

problem is they have left the bankstas...who are as bad a pirates , at the top of the food chain

and they continue, in an economic sense, to rape burn pillage and destroy

what should have been done is to allow the bankstas to fail, in a controlled manner

taking banks into receivership...but

not selling the banks to other banks right away, but administering their dissolution

thru the operation of a

"bank of the united states of america"

which would have simultaneously provided the loans and liquidity for legitimate business to operate

while allowing the failures and the fraudulent to decompose

but instead the obama administration has coopted... or been coopted by the bankstas

who continue to use complex derivatives to suck the real economy dry

i mean for the love of pete

wtf is a synthetic CDO...go to wikipedia its sickening

how is it that options and futures markets have outstanding contracts valued at over 100 times the underlying commodity or other "real" thing of value

the basis for the creation of many of the structured investment vehicles and conduits are mind numbing and clearly about fraud

we are being sucked dry

just look at the oil futures market...current production and current consumption...there is no justification for oil at 83$ per barrel yet here we go again

market manipulation

shit on paper now dominates the "real" market where gasoline is bought and sold..and flies in the face of crude oil production numbers relative to real demand

fdic disappointment

sheila...you are a terrible disappointment to me

i just feel like this relationship isnt going anywhere...ya know what i mean

a mean we just dont communicate

we dont have the same values

we dont even root for the same teams

that certain spark... that excitement we used to share every firday evening,,,,well its just gone

im gonna give you one last chance to take down a really big bank

if ya dont...im leaving you for someone else

fire and ice

Vonbek777 wrote in reply 4:08 pm

"I think we might find out this summer. Still think an ice age is coming, haven't changed my mind on that, but something is weird with the sun...I think this summer will be bad."

my response

we just finished sun spot cycle 24 (since reliable records began) and it was a record breaker of low solar output and one of the longest periods of no sun spots

and even during this time 2000-2010 ...5 of the years in this decade were at the top for global average temp

just wait until we are in the middle of solar cycle 25...record heat coming for the next several years

as for the ice age...yeah we are due...right after we be done gettin fried we get frozen

"fire and ice" by robert frost

some say the world will end in fire,
some say in ice.
from what ive tasted of desire
i hold with those who favor fire.
but if it had to perish twice,
i think I know enough of hate
to say that for destruction ice
is also great
and would suffice.

Robert Frost

hendry dises stiglitz and bets greeks default

watch the arrogance and unmitigated disrespect hugh hendry has for joe stiglitz in this vid i found by way of zero hedge

joe tries to make the point that the greek debt is manageable given austerity and support from france and germany

hugh chuckles and exudes disdain for joe and his position, claiming there is no way for greece to finance its short term debt which currently costs around 7% and that , (insinuates) they should just give it up

but then the moderator makes the observation that hugh hendry's hedge fund has placed bets against the euro and the greeks and stands to make a lot of money if the french - german rescue fails

reminds me of lehman brothers and all the financial traders who stood to gain big as lehman went down so there was huge CDS and naked short positions... and the reving up of the "death by a thousand cuts" rumor mill

as much as we all hate profligate debtors...us being the followers of that great american inventor and philosopher, franklin...

before we revel in this "greek tragedy"...the collapse of the euro. or the collapse of the dollar.... we would do well to remember these cataclysmic events will probably bring the barbarians to your gate...think well on it

YouTube - Euro currency crumbling? part2 (09Feb10)

oh yes and hugh hendry seems to predict (insinuation) that the us will default on its debt

i bet not...the printing presses will roll, but outright default never

obamas timid budget freeze

i read all the comments up thread...very informative, angry, and entertaining

social security, medicare-medicaid, interest on the national debt, and defense+2 wars make up the 80% of the budget obama says he wont touch

would you?

if i were the president of the USA i would.....

i would freeze social security,

i would have passed the health care bill, house version, which btw was at least 50% about cost containment...which the repubs dont want cause they want medicare to fail...so they called the cost containment death panels etc

the interest on the national debt...
well "ZIRP bernanke" is taking care of that isnt he

and finally

i would get out of iraq because the sunni shia and kurds are gonna kill each other no matter what...

and i would close 600 of the 700 foreign military bases the usa currently operates,

the rest of the military budget should be frozen as well...the usa spends more than all the rest of the nations on the planet combined...we will be ok

then

there would be a coup

fool me once...bernanke

bernanke was compliant and complicit with the wrongs and errors that lead us to this financial crisis

it is equally clear that he possesses the expertise and the respect of the financial and political community necessary to pursue a vision that could lead us out of the abyss

two questions jump out

1 has bernanke seen the light and will thus put forward the correct policies?

2 however justifiable our impulse to punish bernanke might be, is it worth the risk of that an alternative candidate will either be less qualified, or, used by this senate as a political football and stall the appointment process

in the past, i supported bernanke as the nominee to fed chair because i believed he was the most intellectual and, knowledgeable candidate and, he was, i believed, not part of the paulson-geithner school of squid

that support i now regret

bernanke would have to have an awesome, public, heart felt, believable, "come to Jesus" moment of contrition for his errors, and enunciate a clear policy statement for the future.... before i would change my opinion

so for now, at least i say no on bernankes re-appointment ,

and i say it with neither relish nor joy

move your money dance

mock turtle Sun, 1/10/2010 - 9:22 am


i did the "move your money" dance this past week

and got into a little pissin match with the jpm-chase branch manager

after i had my cashiers checks in hand for ira rollover, savings , checking, and a CD

i politely informed the bank employee behind the desk that i would gladly share the reasons behind my decision to close my accounts if she was interested

i had previously just said personal reasons as they pressed me for about 10 solid minutes not to close my account and telling me all the services i could obtain at jpm-chase

the employee said yes id like to know

i stated that this was the only way i could peacefully, lawfully and effectively register my objection to the bank bailouts

and

the continuing casino behavior by the countries 'too big to fail" mega banks

the employee claimed that jpm-chase didnt need government backing, had paid back the tarp money back

as i began pointing out that many major mega banks had been recipients of flow thru government money

that came by way of AIG,

and were able to trade to the federal reserve, toxic Mortgage backed securities in exchange for triple A US treasury securities

thus shifting trillions of risk and loss from the banks to the taxpayers

she claimed not to know anything about this...and then the branch manager stepped over and said point blank that i was not telling the truth

we went back and forth for about 5 minutes with the bank people politely calling me a liar

and me quoting what ive learned at calculated risk , naked capitalism, market ticker, big picture and other blog spots

as things started to get ugly

i ended the conversation by saying i did not hold anybody in this branch responsible for the destructive behavior of the mega banks and big financial trading houses, and i wished them, personally, well

but in leaving, i suggested that they be sure to tell the people in the central office why i left

here is the one page doc that explains it all and im going to place it on the branch managers desk monday morning

"Behind The Real Size of the Bailout | Mother Jones"

...

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