Don’t Blink, or You’ll Miss Another Bailout!

Don’t Blink, or You’ll Miss Another Bank Bailout

MANY people became rightfully upset about bailouts given to big banks during the mortgage crisis. But it turns out that they are still going on, if more quietly, through the back door.

Details are emerging of the New York Fed assisting in billions given away in "potential" legal claims. It doesn't end there.

Don’t Blink, or You’ll Miss Another Bailout



Surprise...not at all! These are still happening, between deals in secret to undisclosed settlements."Too big to fail" continues to fail or does it...

reply to post by dreamingawake


It's never going to stop until Americans stop buying the polarity garbage. We need an "Occupy Wall Street With A Tea Party" group. OWSWATP.

This is where deregulation has gotten us. There is now a new aristocracy which is allowed to ignore the laws the rest of us are expected to follow.

Laws that are written more and more by the ICBs who treat the citizens of the US like their subjects.

If an ordinary citizen makes a simple mistake, the banks are allowed to punish them, with out a trial, or any level of proof. God forbid something should happen to your credit score, giving the ICBs permission to screw you against the wall.

Ah, but the banks themselves can do what they want, like the aristocracy of old, and not suffer any consequences.

Originally posted by Cuervo
reply to post by dreamingawake

 

It's never going to stop until Americans stop buying the polarity garbage.

I agree. I'm really fed up with their parade.

We need an "Occupy Wall Street With A Tea Party" group. OWSWATP.

Indeed and or something similar.

reply to post by dreamingawake




Seems like good advice...

I believer you are correct that there a huge banks out there getting bail outs, for example my morgage for my house was yet again sold to another bank back in October 2012, My Morage was held at GMAC for only a year and it was sold yet to another company. (seems my morgage gets sold about every two years since the crisis, probably since I am never late on a payment). With all the papers that were sent to me it explained that GMAC was filling for Bankruptcy and it will be over a year before they are back. I went to there web site and they are still doing buisness as normal. How can they do that unless they got a bail out. Personally we should just let them fail. I am tired of paying for them, I am tired of doing the right thing all the time and not getting anywhere in life. its like that person that drives 100 mphs on the road and never gets pulled over, but you do 5 miles over the limit and you get pulled over........Crooks are crooks

They’re private businesses. They should be allowed to crumble and fall like most other business when they go south. They don’t bail out people when they lose their job or something and can’t meet repayments. They kick them out of their house and sell it for far far less than it’s worth so as to cover their own losses and leave the person/family broke and homeless. Pack of protected crooks.

Dude what is this ish? All of these people with money can just get gobs of free scratch and the minute I get a student grant I'm that welfare queen people are screaming about on Fox news.

Sigh, I just don't know what to say anymore. Let's just keep giving wealthy people more money. I mean, they aren't wealthy enough already. And they'll probably just fail again and we'll have to bail em out once more.

/facepalm

Maybe the government thinks it`s cheaper to keep bailing the banks out than to let them fail and have to pay out hundreds of millions of FDIC claims?

I bet these continuous bail outs have something to do with why the government decided, a few months ago, to increase the printing of worthless paper money every month.
The only way to get rid of these blood sucking banks is if a lot of people stopped using banks and let them fail.

Steal a loaf of bread and you get 25 years, Steal billions and you get bail outs

The way I see it, this will just carry on the problem. Like always.
Or delay the inevitable...
Our CONgress, save a few, truly think money solves all problems.
This further illustrates that theory.
Bailing out more...

Not cutting spending.
Not tax breaks for the working class.
Not lowering commodity taxes.

Matter of fact, it's quite the opposite these days.
Instead of all these things we should be seeing...we see epic failures.
I don't know about all you, but I'm no longer optimistic about this.
It's just a matter of time...


To think we actually invested trust into the scheme that will bankrupt us all.

I'll say it...

Nationalize the banks. (think of it like repossession by the government)

But that probably won't ever happen because of the Federal Reserve Act, because the US government doesn't even have control of their own currency. The gov really is at the mercy of the bankers, I don't think they would try to take their precious piggy banks from them.

We have a credit union bank account for direct deposit of paychecks.. We are not keeping any saving on purpose. We have been putting all of our money into hard goods, Guns, Ammo, Food, Plants, Seeds, Gardening equipment, I just built a chicken pen and I am getting chickens soon, Building a rabbit hutch to breed rabbits, Stocking up on lots of things, Bought a crossbow and stocking up on parts/bolts/accessories, Got a bow package, Starting to do canning, going to get a good dehydrator system, Joining an organic farming coop in our neighborhood also they have 5 acres since I have very little room we will be helping them grow more stuff to share.

Also going ot start breeding superworms, giant nightcrawlers, also going to breed guinepigs.

We also bought a new flatscreen TV because if the shtf you def need a decent TV to watch my thousands of movies and tv episodes while the world ends ;D

reply to post by Philippines


How about putting the regulations back in place that prevented all this mess from happening (don't need NEW regs, old ones worked fine), and no - do not nationalize the banks. I have had enough of the government making the decisions on who wins and who loses.

How about letting the too big to fail actually fail.

Originally posted by BlindBastards
They’re private businesses. They should be allowed to crumble and fall like most other business when they go south. They don’t bail out people when they lose their job or something and can’t meet repayments. They kick them out of their house and sell it for far far less than it’s worth so as to cover their own losses and leave the person/family broke and homeless. Pack of protected crooks.

Agreed. Isn't capitalism supposed to be every man for himself? As in if you make it - good for you, if you fail - too bad, better luck next time.

I guess they only espouse true capitalism when it suits their agenda.

As sad as all this hidden manoeuvring is, the Fed is a private entity.

It is just like one bank giving money to another.

Unlike the UK bailouts, which used government money.

Originally posted by MidnightTide
reply to post by Philippines

 

How about putting the regulations back in place that prevented all this mess from happening (don't need NEW regs, old ones worked fine), and no - do not nationalize the banks. I have had enough of the government making the decisions on who wins and who loses.

How about letting the too big to fail actually fail.

I'm all for letting too big to fail - fail. It's about time some consequences started to happen to them.

The regulations coming back would be great as well, as it's in the constitution in Article 1, Section 8:

Source - Wikipedia

Clause 5: To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;

The banks should have been nationalized for a long time if I understand the constitution correctly, but that was amended in 1913 so the Federal Reserve is the national bank and coins/regulates money, except not owned by the nation.

I'm not saying the government would do a good job, but they would probably do better than the Fed. However now is not the time to see exactly what the unchecked Fed Gov. would do with unfettered access to the printing presses and money creating computer terminals.

It's all broken, on a crash course to failure, and will not get fixed until that happens, in my opinion.

reply to post by dreamingawake


things like this bring out the radical "burn it all" in me.

no surprise here! We allowed this to happen and we will pay a high price for this! We should have never allowed the federal government to bail out the TBTF banks! Once we allowed this there was no stopping the eventual repercussions. I remember thinking in 2008 how we were being swindled by the biggest con in history but now i realize that was just the beginning and it would seem they are in for the long con! There is nothing stopping these TBTF banks from doing what they want no matter what they do! No laws that can't be surpased, no government that can't be blackmailed manipulated or threatened and no peoples that need to be satisfied except for their stockholders! People keep saying the economy will fail but the truth is it already has except the masses don't know yet! I believe this is how these banks blackmail the fed, courts and government! Why they don't follow any laws! Maybe this happened before 2008 and could have happened anytime before we lost the gold standard!
Well whatever the case may be, sooner or later there propped up house of cards will fall and the panic that will ensue will never be delt with!

This part struck me...........

"Here’s the skinny: Late last Wednesday, the New York Fed said in a court filing that in July it had released Bank of America from all legal claims arising from losses in some mortgage-backed securities the Fed received when the government bailed out the American International Group in 2008. One surprise in the filing, which was part of a case brought by A.I.G., was that the New York Fed let Bank of America off the hook even as A.I.G. was seeking to recover $7 billion in losses on those very mortgage securities."


So, the fed prints worthless money and then charges interest on it to who they lend. Well that's the basic Gist of it.....

Then in reality, the fed lost nothing of 'Real' value except the cost of the printing of said money.

" Nothing from nothing nothing, leaves nothing"