FDIC now insuring BOA derivatives trades!!!! Financial DOOM is ON | |
MaxMad User ID: 1166496 United States 10/18/2011 05:33 PM Report Abusive Post Report Copyright Violation | [link to dailybail.com] Quoting: BCHD This means that the investment bank's European derivatives exposure is now backstopped by U.S. taxpayers. This is big news. Discuss. This should be bad for the stock market... Expect a 400 point drop tomorrow! |
MARTIAL LAW User ID: 1707881 United States 10/18/2011 05:33 PM Report Abusive Post Report Copyright Violation | 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! |
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BCHD (OP) User ID: 1413449 United States 10/18/2011 05:50 PM Report Abusive Post Report Copyright Violation | |
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MARTIAL LAW User ID: 1707881 United States 10/18/2011 06:21 PM Report Abusive Post Report Copyright Violation | 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: articleIt 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 User ID: 3341144 Australia 10/18/2011 06:22 PM Report Abusive Post Report Copyright Violation | |
Zero Point User ID: 3341144 Australia 10/18/2011 06:24 PM Report Abusive Post Report Copyright Violation | 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: articleFor 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 User ID: 519048 Netherlands 10/18/2011 06:24 PM Report Abusive Post Report Copyright Violation | |
MARTIAL LAW User ID: 1707881 United States 10/18/2011 06:26 PM Report Abusive Post Report Copyright Violation | I thought the FDIC was already BROKE?!?! Quoting: Anonymous Coward 519048 How can they insure anything as big and nasty as derivatives? 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 User ID: 3575416 United States 10/18/2011 06:31 PM Report Abusive Post Report Copyright Violation | |
cremefraiche User ID: 1525235 United States 10/18/2011 06:40 PM Report Abusive Post Report Copyright Violation | |
ArchaicSEAL User ID: 873894 United States 10/18/2011 06:57 PM Report Abusive Post Report Copyright Violation | 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 |
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Revbo™ User ID: 3580386 United States 10/18/2011 07:18 PM Report Abusive Post Report Copyright Violation | 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 John 8:32 And ye shall know the truth, and the truth shall make you free. |
Anonymous Coward User ID: 1488600 United States 10/18/2011 07:28 PM Report Abusive Post Report Copyright Violation | |
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duhhhhh! User ID: 1536630 United States 10/18/2011 08:22 PM Report Abusive Post Report Copyright Violation | [link to dailybail.com] Quoting: BCHD This means that the investment bank's European derivatives exposure is now backstopped by U.S. taxpayers. This is big news. Discuss. 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!!!!!!! Awww, damn it. It was a great quote too. Conversation NOT Confrontation |
Sickandtired User ID: 1419023 United States 10/18/2011 08:53 PM Report Abusive Post Report Copyright Violation | |
BCHD (OP) User ID: 1413449 United States 10/18/2011 08:55 PM Report Abusive Post Report Copyright Violation | |
BCHD (OP) User ID: 1413449 United States 10/18/2011 09:04 PM Report Abusive Post Report Copyright Violation | thanks for this opie Quoting: cremefraiche 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 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 User ID: 3554041 Puerto Rico 10/18/2011 09:12 PM Report Abusive Post Report Copyright Violation | 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 User ID: 3219236 United States 10/18/2011 09:16 PM Report Abusive Post Report Copyright Violation | supporting AND paying for the banksters derivative fraud is PATRIOTIC...whoever doesn't support it is al qaeda! Quoting: MARTIAL LAW Spirituality is the opposite of religion, religion is a substitute for spirituality. Spirituality is a direct connection to Creator The Most high. Anyone who inflicts pain on others will suffer themself from that pain. Though I walk through the valley of the shadow of death, I fear no evil. |
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The Voice In Your Head User ID: 1379486 United States 10/18/2011 10:26 PM Report Abusive Post Report Copyright Violation | 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. 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 ;-) |
BCHD (OP) User ID: 1413449 United States 10/18/2011 10:41 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 3561259 United States 10/18/2011 10:42 PM Report Abusive Post Report Copyright Violation | 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.......... |