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FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON

 
BCHD
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10/18/2011 05:32 PM
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FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
[link to dailybail.com]


This means that the investment bank's European derivatives exposure is now backstopped by U.S. taxpayers.


This is big news. Discuss.
MaxMad

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10/18/2011 05:33 PM

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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
[link to dailybail.com]


This means that the investment bank's European derivatives exposure is now backstopped by U.S. taxpayers.


This is big news. Discuss.
 Quoting: BCHD


This should be bad for the stock market... Expect a 400 point drop tomorrow!
MARTIAL LAW

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10/18/2011 05:33 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
supporting AND paying for the banksters derivative fraud is PATRIOTIC...whoever doesn't support it is al qaeda!
:martiallaw4:

“The bravest are surely those who have the clearest vision of what is before them, glory and danger alike, and yet notwithstanding, go out to meet it.”

Isaiah 43:2
When you pass through the waters, I will be with you; and when you pass through the rivers, they will not sweep over you. When you walk through the fire, you will not be burned; the flames will not set you ablaze.

Ecclesiastes 12:14
For God shall bring every work into judgment, with every secret thing, whether it be good, or whether it be evil. ~9/11 Was An Inside Job!
BCHD (OP)

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10/18/2011 05:37 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
supporting AND paying for the banksters derivative fraud is PATRIOTIC...whoever doesn't support it is al qaeda!
 Quoting: MARTIAL LAW


cruise tiemunch
BCHD (OP)

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10/18/2011 05:50 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
bump

I realize that it is a lot to read, but very important to the global economy, which is taking a giant dump as we type.
Anonymous Coward
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10/18/2011 06:15 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
not a surprize, they know they are stealing from you, AND making your spawn liable for it and you will be cross upon finding out, so, too bad, gotta kill all of you first
Anonymous Coward
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10/18/2011 06:19 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
WoW. Would have opened a Swiss account had I known that FDIC would back it.
MARTIAL LAW

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10/18/2011 06:21 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
What this means for you is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in CDS insurance contracts sold by Bank of America and JP Morgan. Even worse, the total exposure is unknown because Wall Street successfully lobbied during Dodd-Frank passage so that no central exchange would exist keeping track of net derivative exposure.
 Quoting: article


It would actually NOT surprise me to see the MSM openly talk about this instead of suppressing it...if they truly want to start a communist revolution, then pushing this on the major news networks could quadruple the wall street riots.

Last Edited by MARTIAL LAW on 10/18/2011 06:25 PM
:martiallaw4:

“The bravest are surely those who have the clearest vision of what is before them, glory and danger alike, and yet notwithstanding, go out to meet it.”

Isaiah 43:2
When you pass through the waters, I will be with you; and when you pass through the rivers, they will not sweep over you. When you walk through the fire, you will not be burned; the flames will not set you ablaze.

Ecclesiastes 12:14
For God shall bring every work into judgment, with every secret thing, whether it be good, or whether it be evil. ~9/11 Was An Inside Job!
Zero Point

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10/18/2011 06:22 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
supporting AND paying for the banksters derivative fraud is PATRIOTIC...whoever doesn't support it is al qaeda!
 Quoting: MARTIAL LAW


cruise
Another public service announcement from the Southern Hemisphere Information Leveraging Locus.
Zero Point

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10/18/2011 06:24 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
What this means for you is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in CDS insurance contracts sold by Bank of America and JP Morgan. Even worse, the total exposure is unknown because Wall Street successfully lobbied during Dodd-Frank passage so that no central exchange would exist keeping track of net derivative exposure.
 Quoting: article

 Quoting: MARTIAL LAW


For sure. The media coverage so far has been tentative.
I think they're sort of unsure as a group where to go on this one.
Interesting to see if some leadership is taken in the media soon.
Another public service announcement from the Southern Hemisphere Information Leveraging Locus.
Anonymous Coward
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10/18/2011 06:24 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
I thought the FDIC was already BROKE?!?!

How can they insure anything as big and nasty as derivatives?
MARTIAL LAW

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10/18/2011 06:26 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
I thought the FDIC was already BROKE?!?!

How can they insure anything as big and nasty as derivatives?
 Quoting: Anonymous Coward 519048


oh it is...everything at this point is smoke and mirrors.
:martiallaw4:

“The bravest are surely those who have the clearest vision of what is before them, glory and danger alike, and yet notwithstanding, go out to meet it.”

Isaiah 43:2
When you pass through the waters, I will be with you; and when you pass through the rivers, they will not sweep over you. When you walk through the fire, you will not be burned; the flames will not set you ablaze.

Ecclesiastes 12:14
For God shall bring every work into judgment, with every secret thing, whether it be good, or whether it be evil. ~9/11 Was An Inside Job!
Anonymous Coward
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10/18/2011 06:31 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
I thought the FDIC was already BROKE?!?!

How can they insure anything as big and nasty as derivatives?
 Quoting: Anonymous Coward 519048


Exactly! FED= Fraud Extortion Department.
cremefraiche

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10/18/2011 06:40 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
thanks for this opie

so in simpler terms the FDIC is taking on the "risk" for EU derivs? and if something goes bust it's up to the US citizens to pay it off?

not a financial whiz but I can pick things up quickly
ArchaicSEAL
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10/18/2011 06:57 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
I would love to see the FDIC cover BoA if their derivatives come back stamped: "Filthy" - At that point, I think the vast majority of the retards still long will shit themselves. And there aren't enough exits in the room for a panic stampede to leave many survivors at the end of this one.

Anyone else short BoA? :P
Anonymous Coward
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10/18/2011 07:00 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
BoA (Bank of Assholes, Apartheid) is one of 4 institutions holding some 95% of 600 TRILLION dollars in derivatives. The 'plan' is to force taxpayers to pay this ransom or foreclose on the entire USA in the process. Global GDP is somewhere around 65 TRILLION so this makes this the world's biggest crime and heist in history. The elected/elite have only ONE choice to maintain their positions and power of deficit spending and that is to give the bankers what they want. All delays, negotiations, court decisions, etc. have ALL been following this course. The current massive inflation is just more proof and evidence of this. When the Administration retroactively legalizes the crimes of the banks and puts the costs on the backs of the taxpayers there will be no denying their positions.
Anonymous Coward
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10/18/2011 07:04 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
That's really bad but I think thew Fed was already exposed thru the banks who sold the stuff. Once it blows they all come down.

What's that mean for the dollar?
Anonymous Coward
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10/18/2011 07:15 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
Revbo™

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10/18/2011 07:18 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
supporting AND paying for the banksters derivative fraud is PATRIOTIC...whoever doesn't support it is al qaeda!
 Quoting: MARTIAL LAW


There's a South Park clip for everything.

This is insanity. FDIC doesn't have enough money to insure my savings account, and now we're insuring derivatives? Fire up the presses, HeliBen. It's gonna be a long year.




Last Edited by Revbo™ on 10/18/2011 07:20 PM
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
Anonymous Coward
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10/18/2011 07:28 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
:gettin-money:
smokahontas

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10/18/2011 07:47 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
the fdic is broke, its smoke and mirrors!
"I may not agree with what you say, but I would defend to the death your right to say it." Voltaire

"Facts do not cease to exist just because they are ignored." Aldous Huxley
duhhhhh!

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10/18/2011 08:22 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
[link to dailybail.com]


This means that the investment bank's European derivatives exposure is now backstopped by U.S. taxpayers.


This is big news. Discuss.
 Quoting: BCHD


WTF times infinity! I am sorry, but this is why I do not have a problem with OWS. Yeah, I know they are not the sharpest tools, but BOA does not deserve to risk our country's financial health on their risky business!!!!!!!

moshpit
Awww, damn it. It was a great quote too.

Conversation NOT Confrontation
Sickandtired
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10/18/2011 08:53 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
thanks for this opie

so in simpler terms the FDIC is taking on the "risk" for EU derivs? and if something goes bust it's up to the US citizens to pay it off?

not a financial whiz but I can pick things up quickly
 Quoting: cremefraiche


And you wonder why there is an Occupy Wall Street movement?
BCHD (OP)

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10/18/2011 08:55 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
That's really bad but I think thew Fed was already exposed thru the banks who sold the stuff. Once it blows they all come down.

What's that mean for the dollar?
 Quoting: Anonymous Coward 462014


Good question. TSHTF

This video is probably pretty accurate, except for the date.








sfan
BCHD (OP)

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10/18/2011 09:04 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
thanks for this opie

so in simpler terms the FDIC is taking on the "risk" for EU derivs? and if something goes bust it's up to the US citizens to pay it off?

not a financial whiz but I can pick things up quickly
 Quoting: cremefraiche


Things are going bust now. Greece, Italy (the riots are directly related), Spain, Portugal.

There are other active pinned threads about the downgrades.

Geitner has been in Europe trying to convince them to toe the line.

What this means for you is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in CDS insurance contracts sold by Bank of America and JP Morgan. Even worse, the total exposure is unknown because Wall Street successfully lobbied during Dodd-Frank passage so that no central exchange would exist keeping track of net derivative exposure.

This is a recipe for Armageddon. Bernanke is absolutely insane. No wonder Geithner has been hopping all over Europe begging and cajoling leaders to put together a massive bailout of troubled banks. His worst nightmare is Eurozone bank defaults leading to the collapse of the large U.S. banks who have been happily selling default insurance on European banks since the crisis began.
Anonymous Coward
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10/18/2011 09:12 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
If true, this is insane. Find the corrupt politicians that agreed this and hang them by their balls. Why should the taxpayer be put on the hook for these fairy tale investments?

It is these fraudulent schemes to rip-off investors that should be outlawed and anybody that developed and issued them should be 100% on the hook for them.
11.11.11

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10/18/2011 09:16 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
supporting AND paying for the banksters derivative fraud is PATRIOTIC...whoever doesn't support it is al qaeda!
 Quoting: MARTIAL LAW


clappa
Spirituality is the opposite of religion, religion is a substitute for spirituality. Spirituality is a direct connection to Creator The Most high. Love Not Fear!
Anonymous Coward
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10/18/2011 10:12 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
This is huge. Please keep this subject perma-pinned as this situation develops.
The Voice In Your Head

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10/18/2011 10:26 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
supporting AND paying for the banksters derivative fraud is PATRIOTIC...whoever doesn't support it is al qaeda!
 Quoting: MARTIAL LAW


There's a South Park clip for everything.

This is insanity. FDIC doesn't have enough money to insure my savings account, and now we're insuring derivatives? Fire up the presses, HeliBen. It's gonna be a long year.



 Quoting: Revbo™


Hmmm....

What kind of lube should I get for the inflation sure to be caused by Helicopter Ben's next bunch of ass raping antics?

LOL.

Last Edited by The Voice In Your Head on 10/18/2011 10:26 PM
I'm just a figment of your imagination ;-)
MARTIAL LAW

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10/18/2011 10:39 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
If you have any doubt that Bank of America is going down, this development should settle it …. Both [professor of economics and law, and former head S&L prosecutor] Bill Black (who I interviewed just now) and I see this as a desperate move by Bank of America’s management, a de facto admission that they know the bank is in serious trouble.

...So this move amounts to a direct transfer from derivatives counterparties of Merrill to the taxpayer, via the FDIC,
which would have to make depositors whole after derivatives counterparties grabbed collateral. It’s well nigh impossible to have an orderly wind down in this scenario. You have a derivatives counterparty land grab and an abrupt insolvency. Lehman failed over a weekend after JP Morgan grabbed collateral.

[link to www.zerohedge.com]
:martiallaw4:

“The bravest are surely those who have the clearest vision of what is before them, glory and danger alike, and yet notwithstanding, go out to meet it.”

Isaiah 43:2
When you pass through the waters, I will be with you; and when you pass through the rivers, they will not sweep over you. When you walk through the fire, you will not be burned; the flames will not set you ablaze.

Ecclesiastes 12:14
For God shall bring every work into judgment, with every secret thing, whether it be good, or whether it be evil. ~9/11 Was An Inside Job!
BCHD (OP)

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10/18/2011 10:41 PM
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Re: FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON
[link to www.telegraph.co.uk]

And so it begins.

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