“Unless the current administration changes course pretty drastically, the scandal will destroy Barack Obama’s presidency,” he predicts. - In your wildest dreams...
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Multi-angle, high definition videotaped torture of children would not bring down a “black” Democrat in the United States right now.
In other words, plan on four years of BO, regardless of how badly he &%$#s up.
>...the banks are insolvent. That’s why they must rely on the Troubled Assets Relief Program. But at the same time, they are claiming to be healthy. Both things can’t be true.<
in the early 1990’s i called “the progressive” and told them that they should change their name to “the reactionary”.
they hung up on me.
it is "preposterous" that the government hasn't removed from office the bank oversight committee members who are responsible for the lack of oversight in derivatives disaster.............
As long as the media is running interference for the usurper, nothing is going to bring him down.
The banks and aig are too big to save! They are taking us into a DEPRESSION!
$1.14 quadrillion get a load of this!
No, that’s not a made up word. A quadrillion is one thousand trillion dollars. Not $4 trillion, but $1000 trillion – and change.
Here’s the breakdown, according to the International Bank of Settlements, which acts as banker for the world’s central banks:
1) Listed credit derivatives stood at USD 548 trillion;
2. The Over-The-Counter (OTC) derivatives stood in notional or face value at USD 596 trillion and included:
a. Interest Rate Derivatives at about USD 393 + Trillion;
b. Credit Default Swaps at about USD 58 + trillion
c. Foreign exchange derivatives at about USD 56 + trillion;
d. Commodity Derivatives at about USD 9 trillion;
e. Equity Linked Derivatives at about USD 8.5 trillion; and
f. Unallocated Derivatives at about USD 71+ trillion.
World derivative debt is $1.14 Quadrillion USD. For the US banks share of that see Table 1, page 22 of 33 at
The jig is up folks. The US banks are essentially bankrupt, with $10.5 trillion in assets vs. $176 trillion in derivative debts.
G20 world leaders should WRITE OFF this toxic speculative derivative ‘debt’.
Put in further perspective, the entire world’s GDP, according to the CIA’s world book, is $71 trillion USD annually. Compare that with that $1.14 quadillion and you now understand that a huge transfer of wealth is taking place, crowding out legitimate recovery efforts.
http://bluelori.blogspot.com/2009/04/all-hail-government-sachs.html
‘Bailout Watchdog’ Elizabeth Warren: More Accountability Needed From Bailed-Out Banks
http://freerepublic.com/focus/f-news/2229704/posts
He hasn't watched much of recent history regarding Democrat politicians, has he? Democrats are above the law.
I have one question about this article. Wasn’t Wells Fargo supposed to be one of the banks who didn’t want the TARP money because they hadn’t invested in the risky assets that other banks had? The reason I ask is that the author cites them as one of the problem banks being propped up.
Profits? How much are the banks going to pony up to pay back the U.S. Treasury?
A fallacy indeed. No doubt this same idea is used by all these so called bankrupt companies. How else to explain the HUGE CEO amounts paid them by many of these companies.
No one is worth making the monies they are being paid ... as salary. The money is there so why not siphon it off?
Now, if they started a company that made that kind of profit and employed others then they actually created and risked much in the venture and sure enough it succeeded. AMERICAN ENTERPRIZE SYSTEM WORKING. MO I do believe in freedom, and that some earn large salaries for growing the company and so no. But it is simply a rip off of the stock holders that actually own the company. The money is there so why not siphon it off? Perhaps I am off track here. It seems grossly twisted in reality. Almost a ponzi scheme. ????????? Ball player ans actors etc., are paid exorbitant salaries in a few cases. Different system they parlay into being a percentage of the gross or simply huge signing bonuses. Based on the income they produce. These CEO's are different. They often are simply riding on the coat tails of the workers.
Fmr Secy O’Neil: TARP Goal Deceive Public
http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/
So this man is a Black who talking a about a Black President and his team as failures? Whoaa!! Janet?
Know legible government and private types have been aware of the ever expanding problem for years if not decades. The level of corruption and incompetence in both sectors is beyond belief and has now reached levels where it is irreparable. If the true extent of the mess were made public then then the resultant chaos would not only collapse the economy but the country as well. Therefore, they can only prop it up here and there and postpone the inevitable which they know is coming.
Just a thought.
Of course, this is what happens when your boyz are in the Treasury looting the government TARP funds and getting their hedges paid off by CDS payments from AIG.