It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Get ready for a wave of bank failures

page: 1
9
<<   2 >>

log in

join
share:

posted on Feb, 20 2009 @ 01:00 PM
link   

Get ready for a wave of bank failures


money.cnn.com

In less than two months, regulators have seized 13 banks. Experts think many more banks will collapse before the financial crisis is over.


NEW YORK (CNNMoney.com) -- If it's Friday, there must be a bank failing somewhere across the country.

For five consecutive weeks, industry regulators have seized control of a bank after the market closed on Friday, bringing the total number of failed banks so far this year to 13.

To put that into perspective, 25 banks failed in 2008, suggesting that the rate of failures is quickening as the economic crisis deepens.

"We'll have a banner year [of failures] this year," said Stuart Greenbaum, retired dean and professor emeritus at the Olin Business School at Washington University in St. Louis.

At the current rate, nearly 100 institutions-- with a combined $50 billion in assets -- will collapse by year's end.

But with more consumers and businesses likely to default on loans as the recession drags on, some industry observers think the pace of bank failures could accelerate further.
(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
The Official "up-to-the-minute Market Data" thread




posted on Feb, 20 2009 @ 01:00 PM
link   
I personally expect alot more than this. There are going to be thousands of regional banks crashing, and the big ones will likely be nationalized. They beating the drum for Fascism as we speak ladies and gentlemen. Once this economy crashes entirely(If that isn't what we're seeing right now), the government will likely follow and we will be open to DoD rule.

money.cnn.com
(visit the link for the full news article)



posted on Feb, 20 2009 @ 01:10 PM
link   

NEW YORK (CNNMoney.com) -- Stocks tumbled Friday afternoon, with the Dow Jones industrial average floundering at 6-year lows, as worries about the financial sector sparked a broader retreat. The Dow Jones industrial average (INDU) slid 200 points, or 2.7%, with 2-1/2 hours left in the session. The S&P 500 (SPX) index lost 228 points, or 2.9%. The Nasdaq composite (COMP) fell 23 points, or 1.6%.


Stock selloff accelerates


Even GE is sliding into the single digit share price level.



posted on Feb, 20 2009 @ 01:18 PM
link   
What the hell is THIS CRAP!

Pros Say: Citi, BofA Will Survive — Without Equity



How in the hell is a bank of ANY size supposed to survive without Equity?

A credit less, broke bank...yeah, that's survivable..Who the hell are they kidding? Unless the government steps in and Nationalizes they won't survive in their present form.

God, we are in uncharted waters here.



posted on Feb, 20 2009 @ 01:33 PM
link   
Sometimes I feel like I'm living in a flashback scene in a movie about some dismal post apocalyptic future.

Most of the time I don't worry about it though.


So should I pull all my money and go buy some silver? I should huh?
You think?



posted on Feb, 20 2009 @ 01:36 PM
link   
I say you should divest from banks and put money where your mouth is. Meaning whatever will help you get food. Or find regional banks in your area that are not exposed to this mess and move your funds there. I'd say buy some silver so that you can have some buying power when the dollar crashes. But invest in emergency stuff and a gun as far as you personally goes.



posted on Feb, 20 2009 @ 01:41 PM
link   
Just out of Washignton, "they will keep American banks private" while forcing tax payer to pay for their loses with bail outs.

This is just fantastic.



posted on Feb, 20 2009 @ 01:46 PM
link   



posted on Feb, 20 2009 @ 01:46 PM
link   
Best be careful walking past any banks over 3 stories high
it's gonna be raining bank managers.

I'm consistently wondering what the world is going to be like in 5 years from now, I'm looking for full time work, and every other day 100's of people are being laid off around here, I'm having to cobble together a motorbike because it's the only way I will have wheels and that's my key to being competitive with the kind of work I do.

This is going to get worse before it gets better, I'm going to make the most of it tho, I'm making plans to live very simply and better my self - so far though I am the king of procrastinating...



posted on Feb, 20 2009 @ 01:53 PM
link   
So the problems that the European banks were having earlier this week just hit us today.

What else to do but to infuse the markets with hopes.

How long can the markets keep driven by just hopes of better days with more bail out money.

I don't get it, I keep looking and listening to the government plans and to me it sounds like desperation in the brink of madness.


Countrywide is nothing that another Madoff scheme that as long as the stock holders keep profiting nobody asked were the money was coming from.

The plan is to do a restructuring of banks this means merge some banks have other taken by the Federal Reserve and others just have them die of a slow death.



posted on Feb, 20 2009 @ 04:22 PM
link   
reply to post by marg6043
 


I doubt they will nationalize any banks. At least not BOA or Citi like most think. Countrywide has been a blessing in disquise for BOA. I think they are set to make about 900 millions this year from that transaction due to all the refi's. There will however bee hundreds of bank failures. Hell, there we over 1700 bank failures during the savings and loans crisis. We are not even close to that number yet and things are a lot worse now.



posted on Feb, 20 2009 @ 04:26 PM
link   
[edit on 20-2-2009 by IntelRetarI went to one of my banks yesterday and pulled the rest. Either the Govt is hiding how bad it is or they have no idea. There is not enough money to cover all insured losses from banks. So while you might get your money years later, yes it is insured.

All they had to do to install confidence in the markets is come up with a real common sense game plan. They did not though. Instead it was 1500 pages or so of pork spending all over the place for who knows what.


We have to level the playing field for producing goods in the USA. We cannot compete with near slave labor in other countries. Small businesses cannot compete when products are changed 10% from legally filed patents and then imported from China. Business cannot produce products while conforming to EPA regulations while the developing world makes the same products and dumps waste out the back door.

Homes in foreclosure need to have an across the field formula for help. While I do not want to bail out the guy next door we need to help our neighbor to help us all. I'm sure there is a happy medium where banks still are profitable and home owners still pay a reasonable rate of return.d]

[edit on 20-2-2009 by IntelRetard]



posted on Feb, 20 2009 @ 04:47 PM
link   
The bank I have 'what's left' of my 401k in is a comercial bank and my losses average about 2,000 a quarter. There are several banks listed as having been aquired, though they claim that they're a comercial bank?

The yearly earnings so far for 2008 have not been posted, so they continue to show a total value of assets higher than they probably are. How many other banks are also owned and controlled by one central bank? Who basically owns all of these banks........China?

At some point, I would think these banks may start to fail and drag the others down with it. Assets would probably have to be sold off.

I've checked the list of failed banks and none yet are on the list.



posted on Feb, 20 2009 @ 05:14 PM
link   

Originally posted by marg6043
Just out of Washignton, "they will keep American banks private" while forcing tax payer to pay for their loses with bail outs.

This is just fantastic.

Indeed, why aren't they doing massive layoffs of corrupt judges and federal 'law' enforcers, like the US Marshalls who arrested Ed and Elaine Brown for not paying taxes (violating a 'law' which does not exist and will never be shown to exist). I would love to see some of these people (and quite a few career politicians as well) in one of the ever-growing Tent Cities which are expanding all over the country. Why do they get to keep their jobs while everyone else is losing theirs? Oh, that's right, they don't work for us, we are 'under' them since they work for the Fed and the banksters.

[edit on 20-2-2009 by carole9999]



posted on Feb, 20 2009 @ 10:41 PM
link   
Don't say we weren't warned. Ex IMF official Johnathan Mays warned us.
Complete Article from groups.google.co.uk...


TESTIMONY OF JONATHAN MAY

www.vinesbranch.com...

Jonathan May formerly worked for the International Monetary Fund in
England. In the early 1980s he came to America with a plan to release
Americans from debt to the banking system by employing the same
"credit creating" system used by international banking. The law
governing this system is the Uniform Commercial Code (UCC). May was
initially successful. Eventually, however, he was targeted and
imprisoned by the banking system. He is now in a Federal prison in the
midwest. While in prison he was interviewed by Lindsey Williams via
phone. The following is the text of that interview.


"There are thirteen families which effectively control the central
banks of the hard currency countries of the world. The hard currency
countries are those whose currency is not allowed to fluctuate as much
as the other countries' currency fluctuates. These thirteen families
have the control of the policy-making and decision-making of the
central banks of
those countries. They all practice fractional reserve banking.


*SNIP*



Who actually controls the Federal Reserve? Who are the stockholders of
this private corporation? In a legislative session regarding
abolishing the Fed, the following eight family banks were named as the
owners of the Federal Reserve:


Rothschild Banks of London and Berlin
Lazares Brothers Banks of Paris
Israel Moses Seif Bank of Italy
Warburg Bank of Hamburg and Amsterdam
Lehman Brothers Bank of New York
Chase Manhattan Bank of New York
Kuhn, Loeb Bank of New York
Goldman, Sachs Bank of New York.


In his book, "To Seduce a Nation" Lindsey Williams lists the same 8
banks.



Mod edit: Reduced quote, please use link to read entire article.

[edit on 2/20/2009 by Hal9000]



posted on Feb, 20 2009 @ 11:55 PM
link   
I just sent this off to the treasury Dept. at the White House, I wonder what their response will be.

We Are Watching You Watching US Watching You. And We are curious as to whether it is your policy to Do as Johnathan Mays has proposed. And, if the current crisis' and past administration's since the Snedley Butler FDR incident, the New Deals, and the creation of Joint Trust's, by the same Rockefeller's who then had them banned, the creation of Fractional Reserve Banking and the Federal Reserve, the IRS, National ID Debit System, Star Wars banking Satellites, such as the bright one that now seems like a planet or star it is so bright, etc, and the buying up of forclosed homes, the stimulation of home purchases,etc. by those in a high unemployment crises, the Monday Asian market problem with trillions of dollars buying up US Dollars and devaluating foreign currencies and stocks, by a foreign banking interests', only to buy up the devalued currencies and dollars plunging the value of the US dollar while profiting from the rise of the devalued currencies and stock's in a controlled usary engineered market slide with a market controlled by 75% US Dollars, are all tied together in the alleged System 2000 plan of Global Federal Reserve financial takeover of the globe and the crash of Capitolism to a more Communistic system which is more favorable to the Federal Reserve Banks? Well, are all of these things part of your real policy or is it all coincidentally just got the appearance of a conspiracy in that all of these things are clearly occuring whether due to the stated reasons or not. And if the Mid East wars are tied into that, as well as the US sponsored coups and dictatorship's since the 1930's. And, if we are surrendering our natural resources in perpetuity to the Federal Reserve, are people and their children consider natural resources, as well as intellectual and physical property of the US? And, is this all in place to deliberately crash the Global Economy of the US and our Allies, the World over? If so, is it constitutional to create holding companies to hold Arabian Dollars, etc. which are designed to go bankrupt deliberately. In fact is any of it Constitutional at all? And, if such things are not part of the US Treasury's Economic Policy, is it incompetance not to protect the US from such threats, as they are provably taking place? And, what rights do Citizen's have against the US and Federal Reserve, if such things come into existance and we are offered credit in place of currency, especially if Propogandists begin to tell us it will prevent drug trafficker's as they will have no cash, and will prevent tax evasion, despite there being not one single Law making failure to pay tax illegal, and penalizing only the middle class. Since clearly aristocracies never liked the capitalist middle class wealth and power rivalling their own and are obviously on a path to transfer wealth from the public to the private sector and turn the elected officials into a monarchy type system. Paranoia develops a keen eye for things in reality a normal eye would overlook and rosy delusions would tend to ignore. We are not in the habit of denying ignorance. We are curious, is it your official position that such treason is or is not part of your official economic policy. I do not fear asking questions, I fear not having asked them. The response means little next to the importance of the official position being on the record. The people are allowing too much to take place in their names, and, a well informed public is a well informed opinion, would you not agree? You can find the Johnathan Mays prison Interview at www.vinesbranch.com/view/?pageID=60862 Granted he's in jail, but, since the Book of Psychopolitics, Psyops, Guerrilla Cell psycho manuals, the 1928 work of Edward Bernay's Propoganda, the use of it to sell WAR WORLD 2 and all conflicts and wars since , and is overuse, and poorly at that, by those who write text books, journals, experts and falsified case studies and official looking forgeries, Media like tv radio and internet, CGI and all that techno jazz, well, it disintoxifies people to see past it and builds a high tolerance to it after time, which I guess is a plus for us, bad for the US- Corporate sponsored Propoganda's of Public Affairs and Policy, but, since we see past all of that. We would like to know, are we being tricked into funding the System 2000, or, similiar policies, like in the 80's and our more recent gas hikes, and by buying up real estate which will ultimately foreclose and remove Equity from the majority of homeowners? Is there an organized bankruptcy and collapse epidemic underway, whereby the benevolent banksters in a move straight out of Machiavelli/ Helgian 101 logic will be the Instigator, fuel both sides, wait for the fall out, sweep in like the source of resolve? Like when the CIA gave arms and drugs to the bloods and crips and set off a bloodbath, justifying their war on drugs and control of guns. I am Athiest, rational, and unfeeling. And, even I know it's not unhealthy to be concerned.



posted on Feb, 21 2009 @ 09:40 PM
link   
reply to post by carole9999
 


I just wrote one of my senators an email. Please feel free to comment.

Dear Senator ......

In light of the fact that Banksters are receiving taxpayer funds and giving themselves bonuses while people are losing their homes and being laid off from their jobs in record numbers (and the banking crises did not occur from irresponsible lending practices--it occured because of the massive number of toxic derivatives), I would like to propose the following:
1. That corrupt members of the judiciary, especially those in Nebraska that suppressed evidence of pedophilia for high-level politicians, corporate and business 'leaders' and 'law' enforcement (i.e. 'The Franklin Scandal', before and after, etc.) and those who made judgments based on non-existent income tax laws (as in the Ed and Elaine Brown case, when case precedent such as that with Vernice Kuglin was already established) should immediately lose their jobs (laid off).
2. That corrupt members of federal 'law' enforcement that participated in the above and including (but not limited to) Waco, Ruby Ridge, etc., should immediately be laid off. This includes but is not limited to the US Marshalls, FBI, CIA, DEA, ATF, IRS.
3. That officials in the FDA who have participated in the coverup of dangerous effects from vaccines and medications because of known connections with large pharmacuetical corporations be immediately laid off.
4. That corrupt officials with the USDA that have participated in Monsanto's agenda to control food by limiting seeds and forcing farmers to purchase 'terminator' seeds in addition to filing lawsuits for their patented crops that naturally cross-pollinate should be laid off.

There are many places for these employees to go. They could join the people who have been forced to live in the many 'Tent Cities' that are steadily growing in size and number all over the US. They could eat in soup kitchens, secure in knowing their paychecks are helping to alleviate the 'banking crises. This would be a great start, please let me know what you think..



posted on Feb, 21 2009 @ 09:43 PM
link   

Originally posted by liquidsmoke206

So should I pull all my money and go buy some silver? I should huh?
You think?


I got most of my money in commodities, mostly gold and silver.



posted on Feb, 21 2009 @ 09:48 PM
link   
reply to post by carole9999
 


We can bring the corrupt govt officials and banksters to their knees quite easily if we the people practice jury nullification. If some guy is charged with attacking or even killing one of the elite gangsters, juries need to say not guilty even if they thing he is guilty.

That will scare the crap out of our "leaders".



posted on Feb, 21 2009 @ 10:16 PM
link   

Originally posted by Make Speed Limit 45
reply to post by carole9999
 


We can bring the corrupt govt officials and banksters to their knees quite easily if we the people practice jury nullification. If some guy is charged with attacking or even killing one of the elite gangsters, juries need to say not guilty even if they thing he is guilty.

That will scare the crap out of our "leaders".



BLESS YOU!!!!!

Everyone in our nation should be aware of the "Jury Nullification" power of the people - before they take it away!

Thanks for mentioning that! Star for you!



new topics

top topics



 
9
<<   2 >>

log in

join