Posted on 07/17/2012 7:35:38 PM PDT by JustTheTruth
(snip)
The LIBOR scandal is "so big I don't think people have got their minds around it," says Jim Rickards, a partner at JAC Capital Advisors and author of Currency Wars: The Making of the Next Global. "This is the largest financial scandal I've seen in my career."
If $500 trillion of swaps are based on LIBOR and the rate was manipulated by 10 basis points over five years, that's $2.5 trillion of fraudulent transactions -- more than the combined capital of the nation's five largest banks, Rickards explains. "Congress may have to step in to limit the damages because it would threaten the banking system." (snip)
(Excerpt) Read more at finance.yahoo.com ...
Something to keep in mind here: Virtually all of these banks are in left-wing New York City. Virtually all of their senior management are big-time leftist Democrats. Virtually all of the media will blame this on evil fat-cat Republicans.
Something to keep in mind here: Virtually all of these banks are in left-wing New York City. Virtually all of their senior management are big-time leftist Democrats. Virtually all of the media will blame this on evil fat-cat Republicans.
“Congress may have to step in to limit the damages because it would threaten the banking system.”
It’s obvious that these bankers are crooks that need to be more than threatened. The whole system is corrupt and everyone involved needs to do hard time after losing all their personal assets.
Damn that Turbo Tax!
Want Obama to lose in Nov? Really want to see him go down?
Then every small business owner ought to have a temporary RIF starting now and tell those who are laid off that it’s because of the economy. Do this in key States and you’ll have a sure win.
It really is the patriotic thing to do since we are at risk of losing our country. We take men and women out of the work force to fight wars. Why not take them out of the work force to fight the internal war that is being waged at home?
I believe this will be covered under Executive Privilege.
Anybody hear this morning, BTW, Glenn Beck just come right out and call the media’s behavior “treason”? The old book title, “None Dare Call It Treason” has been going through my mind for months, now. We are witnessing the Communist takeover of our country, and the reason it is not seen as such is entirely due to the media. It truly is treason, and Obama and his gang of criminals are clearly traitors.
Neither Geithner or Bernanke ever held a productive job in the private sector.
Would love to see them both making license plates in the Big House.
Jacob Schiff was head of the New York investment firm Kuhn, Loeb and Co. He was one of the principal backers of the Bolshevik revolution and personally financed Trotsky's trip from New York to Russia. He was a major contributor to Woodrow Wilson's presidential campaign.
Professor Sutton stated, "Western textbooks on Soviet economic development omit any description of the economic and financial aid given to the 1917 Revolution and subsequent economic development by Western Firms and banks." "In the Bolshevik Revolution we have some of the world's richest and most powerful men financing a movement which claims its very existence is based on the concept of stripping of their wealth," declared Allen. "[M]en like the Rothschilds, Rockefellers, Schiffs, Warburgs, Morgans, Harrimans, and Milners."
More like cleaning the urinals and toliets in the prison. Stamping out license plates is too good for them.
Along with firing every democrat in your organization and hiring those that actually have a work ethic.
F**k em, they made their bed, sleep in it.
Speak for yourself. I'd like to see them hung in a public square.
Where the hell is the GOP? Where the hell is Boehner? He should be holding press conferences....
me, too, but I am just being realistic ;o)
Why hasn’t this scandal tanked the stock markets? At least financial/ bank stocks? The markets have to fall pretty soon before the elections.
...and after 5 years give ‘em a brush.
” - - - The LIBOR scandal is “so big I don’t think people have got their minds around it,” says Jim Rickards, a partner at JAC Capital Advisors - - - - “
Then by the hair on Volker’s chinny-chin-chin it MUST be “ To Big to Fail ! “
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