Money Is Not Safe In The Big Banks

Under the Dodd-Frank Act “losses will be assigned to shareholders and unsecured creditors. …as a depositor in a bank, under the law –
YOU ARE an unsecured creditor.”

banker_debt_web“The Leveraged Buyout of America” by , Author, Web of Debt, Public Bank Solution; President, Public Banking Institute

Giant bank holding companies now own airports, toll roads, and ports; control power plants; and store and hoard vast quantities of commodities of all sorts.

They are systematically buying up or gaining control of the essential lifelines of the economy. How have they pulled this off, and where have they gotten the money? Continue reading

How Far From the Truth Will They Venture to Go?!

New York Times Opinion Pages printed an article by Joseph E. Stiglitz, a professor of economics at Columbia and Mark Zandi who is the chief economist at Moody’s Analytics. The story, “The One Housing Solution Left: Mass Mortgage Refinancing” started out by stating:

“MORE than four million Americans have lost their homes since the housing bubble began bursting six years ago. [Ed. note: On what planet have these fellas been living over the past 6 years?!Continue reading

RSN: Will the Peasants Go Medieval on Bankers?

Readers Supported News: By Washington’s Blog

While everyone from Tony Blair to Nouriel Roubini is debating whether or not bankers should be hanged, the Wall Street Journal and Bloomberg provide some fascinating historical context.
Dark subjects: A Red Saunders creation. This picture is called Wat Tyler and the Peasant’s Revolt, 1381.  Continue reading

Occupy Wall Street – Focus on Our One Demand

The poster of this news clip is correct – this is what we should be focusing on. “Dylan Ratigan knows what he’s talking about and the way he says it is too epic. So spread this video and let the people know this should be what OWS should be focusing on. That this has to be our one demand.”  Thank you Dylan, for your passionate message.

Dylan Ratigan is clear about what is happening to our country – listen up citizens. It doesn’t matter if Continue reading

Part I – The Elites will Eat Their Own: Full-Blown Civil War Erupts On Wall Street

Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Start Turning On Each Other

By David DeGraw

Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Turn On Each OtherFinally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve. As the Eurozone is coming apart at the seams and as the US economy grinds to a halt, the financial elite are starting to turn on each other. The lawsuits are piling up fast. Here’s an extensive roundup: Continue reading

U.S. Is Set to Sue a Dozen Big Banks Over Mortgages – Yeah, sure.

So, what’s this? Another charade? Did Geithner or Bernanke suggest, “Hey Barack we’ll fix it, we’ll just file a big lawsuit against everybody and then we’ll cut a deal that let’s the banks off the hook for everything for the $20 billion the AG’s won’t settle on…”

New York Times

By 
Published: September 1, 2011

The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation.

The Federal Housing Finance Agency suits, which are expected to be filed in the coming days in federal court, are aimed at Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among others, according to three individuals briefed on the matter.

The suits stem from subpoenas the finance agency issued to banks a year ago. If the case is not filed Friday, they said, it will come Tuesday, shortly before a deadline expires for the housing agency to file claims. Continue reading

Hats Off to Bernie and the Gang: First Federal Reserve Audit Reveals Trillions in Secret Bailouts

By Matthew Cardinale, Inter Press Service
29 August 11

he first-ever audit of the US Federal Reserve has revealed $16 trillion dollars in secret bank bailouts and has raised more questions about the quasi-private agency’s opaque operations.  “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else,” US Senator Bernie Sanders, an Independent from Vermont, said in a statement.

Continue reading

Obama Administration Tries to Protect Banksters Urging AG Cooperation

MaxineIt was midnight Sunday. I couldn’t sleep.  NY Times emails me an alert to Gretchen Morgenson’s article about how the Obama “I only care about the banks” Administration is trying to negatively influence the NY AG (my hero) Eric Schneiderman who is gunning after the Wall Street banks for their foreclosure fraud and Ponzi scheme that collapsed our country. I was angry, tossing and turning all night thinking about how I would blog my emotions. When I awoke there were several other well-respected bloggers that expressed my feelings for the leader of the unemployed, homeless, “free” world better than I ever could.
 Attorney General of N.Y. Is Said to Face Pressure on Bank Foreclosure Deal

By
Published: August 21, 2011 Continue reading

Wells Fargo Fined $85 Million – This Is Considered Punishment?

THE NEW YORK TIMES – THE OPINION PAGES

This Is Considered Punishment?

By JOE NOCERA
Published: July 25, 2011

Last Wednesday, nearly lost in the furor over Rupert-gate and the debt ceiling crisis, came the surprising news that the Federal Reserve has issued a cease-and-desist order against a Too-Big-to-Fail bank. The bank was Wells Fargo, which was also fined $85 million and ordered to compensate customers it had unfairly — indeed, illegally — taken advantage of during the subprime bubble.

What made the news surprising, of course, was that the Federal Reserve has rarely, if ever, taken action against a bank for making predatory loans. Alan Greenspan, the former Fed chairman, didn’t believe in regulation and turned a blind eye to subprime abuses. Continue reading

Idiot of the Week – Ben Bernanke

By DEADLY CLEAR

This week’s IDIOT focus is on Chairman Ben S. Bernanke – Semiannual Monetary Policy Report to the Congress Before the Committee on Financial Services, U.S. House of Representatives and Committee on Banking, HOusing and Urban Affairs, U.S. Senate, Washington, D.C. ON July 13, 2011 and July 14, 2011, respectively.

Chairman Bernanke presented his overview of a weak economy, suffering because investors just don’t want to come back to Wall Street like they had earlier this decade.

Mr. Bernanke, do you think it might be due to the numerous investor lawsuits for securitization fraud and deception caused by [your pals] Wall Street’s greed and Congress’ failure to regulate derivatives?… Maybe, yeah?  You ask Congress for an incentive to bring investors back – regulation might be a good start to stabilization…’cause it sure didn’t work the other way! Continue reading