I was reading the front page of the Globe and Mail today, and it piqued my interest in an unusual way. You can read it
Lehman brothers: 158 years old. This company weathered the Civil War without a scratch, pulled through the Great Depression relatively unscathed, and
has survived until collapse a few days ago, a collapse that happened in but a few short weeks.
Bear Sterns: Sailed through the Great Depression without firing a single employee. Collapsed like the wind.
Bank of America: Buying the firm founded by Charles Merrill. Wait, what?
So B of A isn't being effected at all by all this hellish failure? In fact, its buying up the failing institutions? Interesting.
Now, we have this draft bill by congress stating:
(3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as
financial agents of the Government as may be required of them;
Sec. 8. Review. Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not
be reviewed by any court of law or any administrative agency.
Now, i may just be a wingnut, but i remember a lighthearted video from Bank of America a few months back, where they took the song "one" by U2
One bank, one card, one name that's known all over the world?
Does anyone else see where I am going with this? Bank of America weathers this storm, is the one of those "Financial Institutions" granted
government powers as stated in that congress draft, and (Literally and Figuratively) uses it to...do what?
This kind of thing is happening all over the world at the Moment, its basically just a buyout of large independent banks by the centralized banks for
more control of the currency and populous. The next step forward in Globalization.
It's so obvious now when you look at it.
The larger US banks kept dropping the borrowing interest rates so the smaller banks had to give cheaper credit to bad customers. In come the Oilers...
speculate... Oil prices shoot up, people cant pay mortgages, banks call in debts, banks collapse, central banks and main banking families step in with
hundreds of billions of Euro's/Dollars (repayable with interest) to aid the markets and buy out deals for the floundering banks. Voila!
The beautiful thing about it is that in this Global economy, the Indy banks were all swapping debts across continents so institutions are also
dropping like flies on this side of the water.
Probably not Bank Of America for a global bank though.. there's not many of them over here. And after this crisis, i doubt many non americans would
put their money anywhere near an american bank for the next decade.
Its interesting that one of the "owners" of Bank of America is a director of Duke Energy. Hmmmmmmmmmmmmmm...
Its a nicely orchestrated plan by the Global banking elite.. i just wish that they would get on with it and let things go somewhat back to normal
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