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FDIC and the Treasury THREATEN SOLVENT BANKS INTO TAKING TAXPAYER MONEY OR ELSE!

 
II-Neutron
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04/09/2009 04:58 PM
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FDIC and the Treasury THREATEN SOLVENT BANKS INTO TAKING TAXPAYER MONEY OR ELSE!
Banks Coming clean on the Feds pressure to take TARP funds or face the consequences!

Federal Takeover

By INVESTOR'S BUSINESS DAILY | Posted Monday, April 06, 2009 4:20 PM PT

[link to www.ibdeditorials.com]

Bailouts: Didn't Treasury Secretary Timothy Geithner say that it was not the administration's intent to control private companies? Then why is it reportedly reluctant to accept TARP repayments from some banks?

If it has indeed declined to accept $340 million in payments from banks in Louisiana, New York, Indiana and California, the administration is tacitly admitting that it wants to control those banks as well as others that will try to pay back the taxpayers' money they took in the Troubled Asset Relief Program.

By refusing repayment, the government can keep the leverage it bought with the bailouts. Banks that still "owe" would not be in position to reject the administration as a "partner."

This reminds us of mobsters making a small "investment" in a family-owned shop, which is not always wanted by the owners, and then using it to justify taking over the business.

Joseph DePaolo, president and CEO of Signature Bank in New York, one of the four banks making TARP repayments last week, said his company wanted to return $120 million it received because, in part, it wasn't comfortable with legislation passed that would limit compensation for salespeople. Those limits, he explained, would make it hard to recruit top professionals.

And then there's the fact that the bank didn't actually need the money. But, as we have learned, need is not relevant in the era of the bailout.

Andrew Napolitano reported last week on Fox News that he had spoken to the head of a $250-billion bank the night before who said Washington forced him to take TARP funds last September.

Napolitano said this bank "has no subprime loans, it has no bad debts, wasn't involved in credit default swaps. It didn't need any money. It didn't ask for the money and didn't want it. . . . officials from both the Federal Deposit Insurance Corporation and the Treasury said if you don't take this money, we will conduct a multi-year public audit of you."

The Fox News analyst said the bank's "board was forced to issue a class of stock just for the federal government. The federal government owns 2% of this huge bank."

That was done under the Bush administration. Enter the Obama White House. Last month, Napolitano said, Treasury told the bank "we own 2%, we're going to tell you how to run the place."

"As a result of that minority ownership, they now want to control salaries. They want to see his books, and they want to tell him who he can do business with," Napolitano reported.

Before his trip to Europe, President Obama, according to Politico, told a group of financial institution CEOs who were unhappy with the federal war on executive salaries and bonuses, "My administration is the only thing between you and the pitchforks." At the time, that sounded like nothing more than exaggeration.

An incident at the same meeting in which Geithner declined to take a fake $25 billion TARP repayment check from JPMorgan Chase CEO Jamie Dimon also seemed to be meaningful.

Later, says Politico, "Dimon also insisted that he'd like to give the government's TARP money back as soon as practical . . . But Obama didn't like that idea — arguing that the system still needs government capital."
Looking back, these are small signs that reveal the administration's desire to seize command of the nation's financial system. The bigger, unmistakable sign is the reluctance — or is it outright refusal? — to take $340 million from four banks trying to be responsible and operate on their own.

This shouldn't be happening in this country. The private sector and the state are not to be mixed. The American financial system is best directed by markets, not politics. Prosperity and liberty suffer when the latter excludes the former.
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Last Edited by II-Neutron on 04/09/2009 11:25 PM
ii.neutron@gmail.com
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
II-Neutron (OP)

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04/09/2009 05:46 PM
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bump
ii.neutron@gmail.com
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
II-Neutron (OP)

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04/09/2009 10:21 PM
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bump
ii.neutron@gmail.com
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
II-Neutron (OP)

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04/09/2009 10:33 PM
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Napolitano said this bank "has no subprime loans, it has no bad debts, wasn't involved in credit default swaps. It didn't need any money. It didn't ask for the money and didn't want it. . . . officials from both the Federal Deposit Insurance Corporation and the Treasury said if you don't take this money, we will conduct a multi-year public audit of you."

Am I the only one on GLP to catch this.

My god how blind are the sheeple here.
I thought of all places GLP members would understand the gravity of the statement above.

I am truly disappointed to say the least.
ii.neutron@gmail.com
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
leelou
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04/09/2009 10:54 PM
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that's really effed up
forcing the money on the bank thru scare tactics
kinda like theey threatened congress to pass the stimulus bill or else there would be certain martial law..

oh the madness..one pile of shit on top of another these days...ugghh
Anonymous Coward
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04/09/2009 10:55 PM
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bump
Passerby

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04/09/2009 10:56 PM
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Napolitano said this bank "has no subprime loans, it has no bad debts, wasn't involved in credit default swaps. It didn't need any money. It didn't ask for the money and didn't want it. . . . officials from both the Federal Deposit Insurance Corporation and the Treasury said if you don't take this money, we will conduct a multi-year public audit of you."

Am I the only one on GLP to catch this.

My god how blind are the sheeple here.
I thought of all places GLP members would understand the gravity of the statement above.

I am truly disappointed to say the least.
 Quoting: II-Neutron


it's a crime...
Anonymous Coward
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04/09/2009 11:00 PM
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This situation is becoming very difficult to understand. If the banks didn't need it, why would they take it? Wouldn't they have seen this coming when TARP was first announced?

After all, they're businessmen, they knew getting involved in the government is a bad idea. See, with Vinny the local mobster, you had no recourse. The banks could've fought tooth and nail in the courts, and the court of public opinion.

What the heck is going on here?
Anonymous Coward
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04/09/2009 11:07 PM
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bsflag
II-Neutron (OP)

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04/09/2009 11:08 PM
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Re: FDIC and the Treasury THREATEN SOLVENT BANKS INTO TAKING TAXPAYER MONEY OR ELSE!
This situation is becoming very difficult to understand. If the banks didn't need it, why would they take it? Wouldn't they have seen this coming when TARP was first announced?

After all, they're businessmen, they knew getting involved in the government is a bad idea. See, with Vinny the local mobster, you had no recourse. The banks could've fought tooth and nail in the courts, and the court of public opinion.

What the heck is going on here?
 Quoting: Anonymous Coward 576572


Well part of the issue is that the banks did not want the audit year after year. This may be due to the hassle, as well as not wanting to be found out if they have some shady accounting.

either way the Government used the threat to take a stake in the banks! This is what is most concerning, that at all cost they needed to gain control over that which is private.

First thing the gov told the banks to do with the bail out money was to buy up other banks, thus the banks the bailed out banks bought became in part under the ownership of the state!
ii.neutron@gmail.com
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
Anonymous Coward
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04/09/2009 11:14 PM
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This was known before and nobody gives a shit. The GOV says more banks need more money. Its all about control. It will all blow up sooner or later.

The market is wayyy up now -LOL.Everyone has forgotten what the fuck is happening.
Anonymous Coward
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04/09/2009 11:17 PM
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This is really serious:

OP's post:


The Fox News analyst said the bank's "board was forced to issue a class of stock just for the federal government. The federal government owns 2% of this huge bank."

That was done under the Bush administration. Enter the Obama White House. Last month, Napolitano said, Treasury told the bank "we own 2%, we're going to tell you how to run the place."

"As a result of that minority ownership, they now want to control salaries. They want to see his books, and they want to tell him who he can do business with," Napolitano reported.
Anonymous Coward
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04/09/2009 11:17 PM
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They want to see his books, and they want to tell him who he can do business with," Napolitano reported.

some people might be, umm dirty. They are cta, what books ohh cant find them so sorry, enron any one.
Anonymous Coward
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04/09/2009 11:18 PM
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This situation is becoming very difficult to understand. If the banks didn't need it, why would they take it? Wouldn't they have seen this coming when TARP was first announced?

After all, they're businessmen, they knew getting involved in the government is a bad idea. See, with Vinny the local mobster, you had no recourse. The banks could've fought tooth and nail in the courts, and the court of public opinion.

What the heck is going on here?
 Quoting: Anonymous Coward 576572



F A S C I S M


Plain and clear as clean glass.
Anonymous Coward
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04/09/2009 11:19 PM
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Fix link please
Anonymous Coward
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04/09/2009 11:20 PM
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Is his first 100 days in office up yet?
II-Neutron (OP)

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04/09/2009 11:22 PM
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This is really serious:

OP's post:


The Fox News analyst said the bank's "board was forced to issue a class of stock just for the federal government. The federal government owns 2% of this huge bank."

That was done under the Bush administration. Enter the Obama White House. Last month, Napolitano said, Treasury told the bank "we own 2%, we're going to tell you how to run the place."

"As a result of that minority ownership, they now want to control salaries. They want to see his books, and they want to tell him who he can do business with," Napolitano reported.
 Quoting: Anonymous Coward 653824


Thats what I thought when I came across the article. The source is verified, and what he says is just stunning, one that he is public about it, and two that he cannot be alone in this.
ii.neutron@gmail.com
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
Anonymous Coward
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04/09/2009 11:22 PM
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The scary thing is that there are people like my dad that is cheering this part of the administrations program to control the banks and other institutions that took gov't money.

My dad believes that no one should earn more than the president before they are taxed on a sliding scale up to a max of 90%. As he said if it was good enough in the 50's through the 60's it's good enough now.
II-Neutron (OP)

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04/09/2009 11:25 PM
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Fix link please
 Quoting: Anonymous Coward 653983



Here is is: [link to www.ibdeditorials.com]
ii.neutron@gmail.com
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
II-Neutron (OP)

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04/10/2009 01:35 PM
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bump
ii.neutron@gmail.com
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
Anonymous Coward
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04/10/2009 01:45 PM
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bsflag
 Quoting: Anonymous Coward 648269


Take your bsflag and shove it up your fucking ass cocksmoker.
II-Neutron (OP)

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04/10/2009 02:11 PM
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Well, now that is on topic aint it. What is wrong with you? Read the statements made, this is not something you can make up. BS is what your response is, that is all.
ii.neutron@gmail.com
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
Anonymous Coward
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04/10/2009 04:56 PM
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This was known before and nobody gives a shit. The GOV says more banks need more money. Its all about control. It will all blow up sooner or later.

The market is wayyy up now -LOL.Everyone has forgotten what the fuck is happening.
 Quoting: Anonymous Coward 276543

The 90% masses of J-6pack sheeple are too stooooopid to know or help us in stopping this shit. END OF STORY (move outa united snakes bfr it's too late!)
Anonymous Coward
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04/10/2009 05:06 PM
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bsflag
 Quoting: Anonymous Coward 648269

"....although the subprime debacle triggered the crisis, the developments in the U.S. mortgage market were only one aspect of a much larger and more encompassing credit boom whose impact transcended the mortgage market to affect many other forms of credit. Aspects of this broader credit boom included widespread declines in underwriting standards, breakdowns in lending oversight by investors and rating agencies, increased reliance on complex and opaque credit instruments that proved fragile under stress, and unusually low compensation for risk-taking."

In English: We had the responsibility to monitor banks, set reserve requirements and keep leverage ratios reasonable. We abdicated all of the above on purpose and got in on the scam because our various Fed Boards are all made up of former, current, or wanna-be-future bankers who make lots of money by cheating the rules of sound banking. This produced a huge credit boom, and it was entirely intentional. Oh, and we knew it would go bust too - we didn't care.

"The abrupt end of the credit boom has had widespread financial and economic ramifications. Financial institutions have seen their capital depleted by losses and writedowns and their balance sheets clogged by complex credit products and other illiquid assets of uncertain value. Rising credit risks and intense risk aversion have pushed credit spreads to unprecedented levels, and markets for securitized assets, except for mortgage securities with government guarantees, have shut down. Heightened systemic risks, falling asset values, and tightening credit have in turn taken a heavy toll on business and consumer confidence and precipitated a sharp slowing in global economic activity. The damage, in terms of lost output, lost jobs, and lost wealth, is already substantial."

In English: CRAP! We were supposed to have gotten all the profits out of the country and into Paraguay, along with numbered Swiss Accounts before this thing went pear-shaped, but we blew it. Those jackass Americans ran out of money to make the payments with before we could complete our scheme.

"The global economy will recover, but the timing and strength of the recovery are highly uncertain."

In English: I'm lying.


"Government policy responses around the world will be critical determinants of the speed and vigor of the recovery. "

In English: Ok, I'm lying unless I can get the taxpayer to take all this crap on and not lynch me. Ok, ok, ok damnit, even then I'm lying, but that way I can get the money out to Paraguay (those bastards at UBS are turning in the people with the Swiss accounts!)


" I will also explain why I believe that the Fed still has powerful tools at its disposal to fight the financial crisis and the economic downturn, even though the overnight federal funds rate cannot be reduced meaningfully further."

In English: The most powerful tool I have is the BS that spews from my mouth, and that happens whenever my lips are moving. See?

"The Federal Reserve has responded aggressively to the crisis since its emergence in the summer of 2007. "

In English: We sure as hell knew it was coming; after all, we created it.

"These policy actions helped to support employment and incomes during the first year of the crisis. Unfortunately, the intensification of the financial turbulence last fall led to further deterioration in the economic outlook. The Committee responded by cutting the target for the federal funds rate an additional 100 basis points last October, with half of that reduction coming as part of an unprecedented coordinated interest rate cut by six major central banks on October 8. In December the Committee reduced its target further, setting a range of 0 to 25 basis points for the target federal funds rate."

In English: We can't possibly let the game end until we get the money out of the United States (and ourselves too.) We got the BLS to lie about employment and incomes have been declining in real dollars since 2000; heh, remember what I said about my lips moving?

"The Committee's aggressive monetary easing was not without risks."

In English: We knew it wouldn't work.

"However, the Committee also maintained the view that the rapid rise in commodity prices in 2008 primarily reflected sharply increased demand for raw materials in emerging market economies, in combination with constraints on the supply of these materials, rather than general inflationary pressures.

In English: We're good at creating bubbles, but not so good at figuring out where they will emerge. We pumped liquidity to try to pump up another bubble to take over from the housing mess, but unfortunately what we got was a bubble in commodities, especially oil. That totally screwed the economy instead of hiding the exploded housing bubble. We suck, and we hope you don't figure it out.

" As you know, commodity prices peaked during the summer and, rather than leveling out, have actually fallen dramatically with the weakening in global economic activity. As a consequence, overall inflation has already declined significantly and appears likely to moderate further."

In English: The bubble popped. Again. Damn.


"However, that offset has been incomplete, as widening credit spreads, more restrictive lending standards, and credit market dysfunction have worked against the monetary easing and led to tighter financial conditions overall. In particular, many traditional funding sources for financial institutions and markets have dried up, and banks and other lenders have found their ability to securitize mortgages, auto loans, credit card receivables, student loans, and other forms of credit greatly curtailed. "

In English: We prompted everyone in the banking system to lie. Therefore, nobody trusts anyone, especially us. Would you loan a $3 hooker $500,000 to buy a house? Me neither.


"One important tool is policy communication. Even if the overnight rate is close to zero, the Committee should be able to influence longer-term interest rates by informing the public's expectations about the future course of monetary policy."

In English: We lie a lot. If we lie often enough, some people might believe us. This is helped materially if we can keep our story straight, but that's difficult. Thank God for computers and the <DELETE> key, but may the Good Lord damn to Hell Google, which never loses anything!


"Other than policies tied to current and expected future values of the overnight interest rate, the Federal Reserve has--and indeed, has been actively using--a range of policy tools to provide direct support to credit markets and thus to the broader economy. As I will elaborate, I find it useful to divide these tools into three groups. Although these sets of tools differ in important respects, they have one aspect in common: They all make use of the asset side of the Federal Reserve's balance sheet. That is, each involves the Fed's authorities to extend credit or purchase securities."

In English: We have, will, and do buy crap at full price so that banks can continue to lie, sticking the taxpayer with the bill. This will continue so long as people believe in our fabled "authorities" and don't notice that Oz is a scrunchy old man behind a curtain who badly needs to change his Depends. Oh, that's how Toto found me. The entire rest of this section is simply to misdirect.


"Importantly, the provision of credit to financial institutions exposes the Federal Reserve to only minimal credit risk; the loans that we make to banks and primary dealers through our various facilities are generally overcollateralized and made with recourse to the borrowing firm. "

In English: Lehman was a great example of this. Oh wait; they blew up. Uh, don't ask about all those billions in clearing lines that we can't seem to find - I think they were in the smoking hole where Lehman once was.


"On the other hand, the provision of ample liquidity to banks and primary dealers is no panacea. Today, concerns about capital, asset quality, and credit risk continue to limit the willingness of many intermediaries to extend credit, even when liquidity is ample. "

In English: All the banks know they're holding a ton of worthless crap. Of course that means they know the rest of the banks are too. When everyone's a $4 hooker (I know, it was $3 a few minutes ago, but inflation is a bitch) in the room would you sleep with any of them?


" This facility will provide three-year term loans to investors against AAA-rated securities backed by recently originated consumer and small-business loans. Unlike our other lending programs, this facility combines Federal Reserve liquidity with capital provided by the Treasury, which allows it to accept some credit risk."

In English: The best ratings you can buy. Literally.


" For example, we recently announced plans to purchase up to $100 billion in government-sponsored enterprise (GSE) debt and up to $500 billion in GSE mortgage-backed securities over the next few quarters. "

In English: They're garbage. Bet on it; if they weren't, private investors would buy them. They won't, so you will - at gunpoint.

"The Federal Reserve's approach to supporting credit markets is conceptually distinct from quantitative easing (QE), the policy approach used by the Bank of Japan from 2001 to 2006."

In English: It didn't work in Japan and won't work here.

"Importantly, the management of the Federal Reserve's balance sheet and the conduct of monetary policy in the future will be made easier by the recent congressional action to give the Fed the authority to pay interest on bank reserves. "

In English: Banks are supposed to hold actual money as reserves, but the other part of that action, which I'm not going to tell you about here, is that it allows me to unilaterally give the banks the ability to operate with no reserves at all. This of course could cause a catastrophic implosion of the entire monetary system as it is nothing more than a gross exaggeration of the intentional policy decisions that led to the serial credit bubbles in the first place. Heh, what's that thing ticking on the podium?

"And we will take all necessary actions to ensure that the unwinding of our programs is accomplished smoothly and in a timely way, consistent with meeting our obligation to foster full employment and price stability."

In English: We'll cock it up at least as well as we did the last dozen times, and probably worse.

"In my view, however, fiscal actions are unlikely to promote a lasting recovery unless they are accompanied by strong measures to further stabilize and strengthen the financial system. History demonstrates conclusively that a modern economy cannot grow if its financial system is not operating effectively."

In English: Most of the banks are in fact bankrupt and we're helping them hide it.

"However, with the worsening of the economy's growth prospects, continued credit losses and asset markdowns may maintain for a time the pressure on the capital and balance sheet capacities of financial institutions. Consequently, more capital injections and guarantees may become necessary to ensure stability and the normalization of credit markets. A continuing barrier to private investment in financial institutions is the large quantity of troubled, hard-to-value assets that remain on institutions' balance sheets."

In English: I said they're broke. Got it? All this garbage on their balance sheets is used toilet paper. How many times do I have to tell you?


"Another is to provide asset guarantees, under which the government would agree to absorb, presumably in exchange for warrants or some other form of compensation, part of the prospective losses on specified portfolios of troubled assets held by banks. "

In English: You'll eat it, and we'll make sure you choke it down. We have co-conspirators at Treasury.


"The public in many countries is understandably concerned by the commitment of substantial government resources to aid the financial industry when other industries receive little or no assistance. This disparate treatment, unappealing as it is, appears unavoidable. Our economic system is critically dependent on the free flow of credit, and the consequences for the broader economy of financial instability are thus powerful and quickly felt. "

In English: We blew serial bubbles by encouraging the irresponsible granting of credit we knew could not be paid back. This allowed our cronies to steal trillions of your dollars, and you're still too stupid to figure it out. It is critical that we not admit this, or stop it, because if we do the public will run us out of town on a rail.

"Even as we strive to stabilize financial markets and institutions worldwide, however, we also owe the public near-term, concrete actions to limit the probability and severity of future crises. We need stronger supervisory and regulatory systems under which gaps and unnecessary duplication in coverage are eliminated, lines of supervisory authority and responsibility are clarified, and oversight powers are adequate to curb excessive leverage and risk-taking."

In English: We did it this time, and now we're going to do our level best to sucker you into allowing us to do it again. Have a great year!sideways


[link to market-ticker.denninger.net]
II-Neutron (OP)

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04/10/2009 05:22 PM
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Re: FDIC and the Treasury THREATEN SOLVENT BANKS INTO TAKING TAXPAYER MONEY OR ELSE!
Umm Maybe you should start your own thread with what you wrote.

I see the value in what you are saying. I am just surprised not more people have not commented on what the Gov has done, forced banks not in trouble to take HUGE amounts of MONEY from the pockets of the PEOPLE.

Last Edited by II-Neutron on 04/10/2009 05:24 PM
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By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
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Re: FDIC and the Treasury THREATEN SOLVENT BANKS INTO TAKING TAXPAYER MONEY OR ELSE!
Funny thing today-Passover--Good Friday--Easter in 2 days and this piece about the GOV wanting banks to TAKE TARP money or else has been on CNN all day. One weekend where probably no-one will be watching or not care because they are disconnected because of the holidays.

Monday all this will be not heard of again because the market action will make it fall by the wayside.
ANNONYMOUS
User ID: 546346
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04/10/2009 05:49 PM
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Re: FDIC and the Treasury THREATEN SOLVENT BANKS INTO TAKING TAXPAYER MONEY OR ELSE!
This situation is becoming very difficult to understand. If the banks didn't need it, why would they take it? Wouldn't they have seen this coming when TARP was first announced?

After all, they're businessmen, they knew getting involved in the government is a bad idea. See, with Vinny the local mobster, you had no recourse. The banks could've fought tooth and nail in the courts, and the court of public opinion.

What the heck is going on here?
 Quoting: Anonymous Coward 576572

5a

It is really relatively simple. Back last Sept/Oct the banks were litterally on the way to meltdown. Subprime mortgages going bad/foreclosures leading to mark downs of assetts etc/credit default bets coming due. They were in a hell of a pickle especially with AIG one of the prime insurers about to go under. Then along came TARP 1 and then 2. This gave the banks money to pay off their credit default swaps and collect from others as well while all the time foreclosing on poor slobs to make it happen. The prevalent thinking is that there is $9 of insurance on every $1 of mortgage and that is what they are now collecting. It's alla circle jerk Bank 1 pays bank2 who in turn pays bank 3 which inturn pays bank 1 and the game of musical chairs continues unabated.

As regards JPMC they got great deals on Bear Stearns and Lehmann Bros as well so with the CDS's working they probably are sitting pretty. None of them counted on possible Federal intervention in their internal affairs and they are all scrambling to try and payback QUICK so these assholes can continue this FRAUD.
II-Neutron (OP)

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04/10/2009 05:53 PM
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Re: FDIC and the Treasury THREATEN SOLVENT BANKS INTO TAKING TAXPAYER MONEY OR ELSE!
Funny thing today-Passover--Good Friday--Easter in 2 days and this piece about the GOV wanting banks to TAKE TARP money or else has been on CNN all day. One weekend where probably no-one will be watching or not care because they are disconnected because of the holidays.

Monday all this will be not heard of again because the market action will make it fall by the wayside.
 Quoting: Anonymous Coward 276543


Sad but more than likely true. This should show the American people how badly corrupt the Gov is. I mean Korrupt with a Capital K
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By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
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04/10/2009 06:55 PM
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Re: FDIC and the Treasury THREATEN SOLVENT BANKS INTO TAKING TAXPAYER MONEY OR ELSE!
bump
II-Neutron (OP)

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04/10/2009 09:30 PM
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Re: FDIC and the Treasury THREATEN SOLVENT BANKS INTO TAKING TAXPAYER MONEY OR ELSE!
bump
 Quoting: ANNONYMOUS 546346


Yup!
ii.neutron@gmail.com
By faith he sojourned in the land of promise, as in a strange country, dwelling in tabernacles with Isaac and Jacob, the heirs with him of the same promise:For he looked for a city which hath foundations, whose builder and maker is God. Hebrews: 11
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04/10/2009 09:50 PM
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Re: FDIC and the Treasury THREATEN SOLVENT BANKS INTO TAKING TAXPAYER MONEY OR ELSE!
bump bump