OT - Is there a citizen backlash coming for congress passing 700 Billion $ Bailout? - Page 6

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by Uglydog on 07 October 2008 - 16:10

Thats a Start...1 down.  

Too bad they forgot  tar & feathers. Hope we see alot more of this

Many more to get their 'come uppance' & payback, America is angry & rightfully so. 

Fortune 500 leaders ( moved jobs overseas), Corporate Banksters, Federal Reserve & Politicians. As stated earlier, probably less than 1000 people in all.   Revenge is a dish..

 


BabyEagle4U

by BabyEagle4U on 07 October 2008 - 17:10

Good news for you people in North Carolina's 4th district. Ron Paul endorsed the first money bomb for today October 7, 2008 for a BJ Lawson to replace the current thug David Price in Congress. This money bomb started at midnight and will end tonight ... currently raised  298,892.67 $$ ...  WOW  !!!   Another one down, another one down ....

http://www.lawsonforcongress.com/pages/october-7/

 


by Uglydog on 07 October 2008 - 17:10

Czar Paulson Picks Neel Kashkari to Head Banker Takeover

 

MARTIN CRUTSINGER
Associated Press
October 6, 2008

 
  Kashkari
   
  Call him Neel “Cash & Carry” Kashkari.
   

WASHINGTON - The administration has selected a Former Goldman Sachs executive to be the interim head of its $700 billion rescue effort for financial institutions.

Neel Kashkari, the Treasury’s assistant secretary for international affairs, was selected Monday to be the interim head of Treasury’s new Office of Financial Stability.

The designation was made by Treasury Secretary Henry Paulson, who was the head of Goldman Sachs before he joined the Bush administration in 2006. Kashkari, 35, will head the office created by the emergency legislation enacted Friday to fund the largest government bailout in history.'

 

 

 

 

 

More Foxes guarding the hen house..


BabyEagle4U

by BabyEagle4U on 07 October 2008 - 17:10

..interesting .. why do they always have crook'd up noses ? Where's Owen Wilson ... for Hollywoods sake  LMAO 

Tom Woods Interviews BJ Lawson - Today 2pm ET

www.revolutionbroadcasting.com  

 


by Uglydog on 07 October 2008 - 20:10

October 7, 2008


Thursday is "D-Day" . . . . . as in Derivatives


 
This Thursday, derivatives of Lehman Brothers get settled. With the huge default that took place when Lehman filed Bankruptcy, credit default swaps are going to have to pay out billions.

Analysts are saying that the credit default swap folks will have to pay out at least 15 to 20 cents on the dollar for Lehman's bad debt. In reality, they could have to pay much more. These payouts could bring down the entire derivatives house of cards; including many big banks.

In anticipation of this problem, the fed has doubled the amount it lends overnight to banks. They doubled it last week, so they know a real problem is coming and they're trying to smooth it out.

Whether things fall apart this Thursday or Friday remains to be seen but it doesn't look good. Hold on to your hats, folks, it's going to be a wild ride.

BabyEagle4U

by BabyEagle4U on 07 October 2008 - 22:10

Ohh there's some comedy in it all .... http://www.youtube.com/watch?v=ipJTqCbETog


by Uglydog on 08 October 2008 - 15:10

Derivatives the new 'ticking bomb'

Buffett and Gross warn: $516 trillion bubble is a disaster waiting to happen

By Paul B. Farrell, MarketWatch

Last update: 7:31 p.m. EDT March 10, 2008

ARROYO GRANDE, Calif. (MarketWatch) -- "Charlie and I believe Berkshire should be a fortress of financial strength" wrote Warren Buffett. That was five years before the subprime-credit meltdown.

"We try to be alert to any sort of mega-catastrophe risk, and that posture may make us unduly appreciative about the burgeoning quantities of long-term derivatives contracts and the massive amount of uncollateralized receivables that are growing alongside. In our view, however, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal."

That warning was in Buffett's 2002 letter to Berkshire shareholders. He saw a future that many others chose to ignore. The Iraq war build-up was at a fever-pitch. The imagery of WMDs and a mushroom cloud fresh in his mind.

Also fresh on Buffett's mind: His acquisition of General Re four years earlier, about the time the Long-Term Capital Management hedge fund almost killed the global monetary system. How? This is crucial: LTCM nearly killed the system with a relatively small $5 billion trading loss. Peanuts compared with the hundreds of billions of dollars of subprime-credit write-offs now making Wall Street's big shots look like amateurs.

Buffett tried to sell off Gen Re's derivatives group. No buyers. Unwinding it was costly, but led to his warning that derivatives are a "financial weapon of mass destruction." That was 2002.

Derivatives bubble explodes five times bigger in five years

Wall Street didn't listen to Buffett. Derivatives grew into a massive bubble, from about $100 trillion to $516 trillion by 2007. The new derivatives bubble was fueled by five key economic and political trends:

Sarbanes-Oxley increased corporate disclosures and government oversight

Federal Reserve's cheap money policies created the subprime-housing boom

War budgets burdened the U.S. Treasury and future entitlements programs

Trade deficits with China and others destroyed the value of the U.S. dollar

Oil and commodity rich nations demanding equity payments rather than debt

In short, despite Buffett's clear warnings, a massive new derivatives bubble is driving the domestic and global economies, a bubble that continues growing today parallel with the subprime-credit meltdown triggering a bear-recession.

Data on the five-fold growth of derivatives to $516 trillion in five years comes from the most recent survey by the Bank of International Settlements, the world's clearinghouse for central banks in Basel, Switzerland. The BIS is like the cashier's window at a racetrack or casino, where you'd place a bet or cash in chips, except on a massive scale: BIS is where the U.S. settles trade imbalances with Saudi Arabia for all that oil we guzzle and gives China IOUs for the tainted drugs and lead-based toys we buy.

To grasp how significant this five-fold bubble increase is, let's put that $516 trillion in the context of some other domestic and international monetary data:

U.S. annual gross domestic product is about $15 trillion

U.S. money supply is also about $15 trillion

Current proposed U.S. federal budget is $3 trillion

U.S. government's maximum legal debt is $9 trillion

U.S. mutual fund compa


Oskar1

by Oskar1 on 08 October 2008 - 18:10

Hi,

my son (13) & I just heared in the news on the radio, something we both could just not believe:

AIG, the insurance company that was bailed out by the goverment, was just sending his upper management on a wellness trip, leaving the company with a bill of 440 Millions $ !

Now, it was on the news here in in Germany, and I tried to veify it, but I could not find anything on it, maybe its just too new. But if that is true, it shows how much they apreciate your buisness !!??

Unreal !

Regards Ulli


Oskar1

by Oskar1 on 08 October 2008 - 19:10

Sorry have to clarify, it was not 440 Millions, but 440 Thousand $ - at a Hotel in California ! They had a leisure time in Monarch Beach, spend around 200 thousand on the hotel stay, 150 thousand on food, 23 thousand on wellness, 10 thousand at the Bar and last, but not least 7 thousand on the Golf course !

Damm, these guys have nerves out of steel .....

Ulli


by Preston on 08 October 2008 - 22:10

Oskar1, I think this is the article you were referring to.  I posted an article earlier on the "golden parachutes" and bonuses paid to all the top banksters, typically they run from 20-150 million dollar for each exec.  The word I got was there was an "arrangement in place" for these key CEO's.   It was like this, shadow gov't said. "take the companydown the road we specify with our financial algorythyms, and we will see that you are well taken care of (which is exactly what happened).  Of course the overall financial plan has been to move all heavy industry and manufacturing out of the USA under nafta, gatt & wto, use complex mathematician designed algorythyms to construct multi layered (usually over 100) derivative schemes, "insure" them with swaps and hedge funds (only actually 5% of true equity behind them).  Then when folks run out of discretinary income due to high fuel and food cosdts and general inflation, they stop borrowing off of their credit cards to buy things, reduce their spending, many businesses slow down and close.  The banks call the result a "credit crisis", a complete lie.  It is a decrease in consumer spending due to high energy and inflation, with all the resulting business closings, and generalized business slowdown.  To call it a lack of fluidity in the credit markets is a lie, and constitutes mind kontrol through pushing a deceptive talking point.  Let me repeat this, there is NO lack of fluidity in the credit market.  Banks are still lending.  The problem is people are scared and don't want to borrow, they are afraid they will lose their jobs.  The 5 najor mass media are all spouting the gov't lies.  Disgusting, criminal behavior from bottom feeders, liars inhuman scum, seems to me.  The bailout is high tech welfare for the big boys doing what they agreed to do as part of the planned destruction of our economy and a continuation of the gov't's efforts to terrorize and frighten the public and congress intop doing whatever they want.  Our congressmen and women are so scared they are like deer in the headlights.  The current administration has threatened them all by innuendo or prior behavior.  They all remember what the gov't did to gov. caranahan, sen wellstone and the anthrax attacks on the dems when they started talking about shutting off the financing for the war in Iraq.  It has been reported by "those in the know" and at least one american general that the gov't would spray either bz, vx or opiate derivative seating gasses on the public rather than allow them to "take over" a city and that they keep these products stockpiled near each large american city.  Remember what Admiral Moorer stated >>>he said that at the end of the viet nam war the military sprayed vx gas on some of the american pows in prison camps because they knew too much about gov't drug dealing ops.  Bet folks can't fit this info into their heads easily.   http://www.thesmokinggun.com/archive/years/2008/1007083aig1.html                              http://www.washingtonpost.com/wp-dyn/content/article/2008/10/07/AR2008100702604.html






 


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