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

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

supporting AND paying for the banksters derivative fraud is PATRIOTIC...whoever doesn't support it is al qaeda!

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.

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

WoW. Would have opened a Swiss account had I known that FDIC would back it.

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

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.

I thought the FDIC was already BROKE?!?!

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

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

Exactly! FED= Fraud Extortion Department.

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

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

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.

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?

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

:gettin-money:

the fdic is broke, its smoke and mirrors!

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!!!!!!!

And you wonder why there is an Occupy Wall Street movement?

Good question. TSHTF

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

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.

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.

This is huge. Please keep this subject perma-pinned as this situation develops.

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

[link to www.telegraph.co.uk]

And so it begins.

The suspension of the Glass/Steagle act from the great depression in recent years has allow the shenanigans of investment banks to merge with commercial banks thus putting at risk, the public deposits and tax payers of this country....................

This would have been a direct violation of that act not too long ago.....

.....but the regulators in Washington sold out to banking interests to allow this to go unregulated and now the exposure to further financial collapse is assured.............

The pursuit of profit without tangible economic growth is nothing more than sheer blind greed by the banking institutions of world..........