Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: OafOfOffice

Most of these bank mergers happened while Clinton was president, but that has nothing to do with it. Chase/ Morgan is the merging of Chase, JP Morgan, Manufacturers Hanover, and Chemical Bank, and that bank is one of the large banks that is in the best shape. Citi didnt buy any other domestic bank as far as I know except for the broker Smith Barney. Banamex and the foreign entities make a lot of money for Citi. The thing that is hurting BoA is the recent purchase of Countrywide. Wells Fargo is even turning a profit after purchasing Wachovia. The problem isnt the size of banks its the government telling them how to lend money.


210 posted on 04/14/2009 6:33:48 AM PDT by culpeper ( When traitors are called heroes, dark times have fallen - Roland Deschain)
[ Post Reply | Private Reply | To 39 | View Replies ]


To: culpeper

that quote was from a democrat website planning a gathering about the banks being too large.

But I have a different take on last year anyway. I beleive it was planned with a significant draw down within hours. Around 550 billion if I remember correctly. Paulson came into Bush and said they tried to plug the losses and were unable. They needed a quick fix immediately. Before the bailout they put billions in. From there you know the rest. Bailout big time was warranted and I think Paulson was part of the scheme.

http://www.liveleak.com/view?i=ca2_1234032281

On Thursday (Sept 18), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there.

If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed. It would have been the end of our economic system and our political system as we know it.

http://www.usnews.com/usnews/politics/bulletin/bulletin_080918.htm

After the 18th, the bailout had not been passed yet. Remember McCain stopping his campaign September 24th, and going to discuss what needed to be done and Obama’s campaign saying he was a idiot basically. Then Obama sat on his phone urging everyone to pass the bailout.

Obama’s cool at the time was because he knew what had happened would lead the way for him to win. A fragile market generated by communists, then several wealthy elite of that group, go in and take out multi billions within hours. The strategists, NWO power elite Soros whose life goal was to bring down fascist America along with certain other possibles, Buffet, Soros, Murdoch, Rockefellers and Rothschilds.

Now we come to find out the one who made off with the majority of the bailout was Buffet. Like 20 of his companies were held up with our money. One of the richest men in the world with stock shares around $91,000. Then after we gave money to GE, Buffet bought into that. He knew once government bailed them out they would not be allowed to lose.

One of the richest men in the world is Prince Alaweed, we bailed out his company CitiGroup. These people can save their own companies. If you invest and believe in a company you could surely find some oil well money to put into your company you have so much power over.

Now come to find out another richest man in the world, Bill Gates. We will fund with stimulus dollars a bridge for his two colleges. It goes to one college and then to another college. To the tune of 36 million. Originally 25 million but hey when the money is free why not go big.

This was planned. And it was planned well to put our money into the pockets of the wealthy elite and to get obama in the front because of the crisis. Taking taxpayer dollars and channeling to the wealthy has been done for decades. We sit like saps as they become more powerful.

As far as banks being too big, I believe that goes back to the power elite and as far back as the ‘30s. Rothschilds


315 posted on 04/14/2009 10:28:21 AM PDT by OafOfOffice ("If there must be trouble, let it be in my day, that my child may have peace"Thomas Paine)
[ Post Reply | Private Reply | To 210 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson