The Market Ticker: The Looting Has Become Brazen

This is priceless... The Looting Has Become Brazen

Oh do come on:

Some banks are prodding the government to let them use public money to help buy troubled assets from the banks themselves.

Banking trade groups are lobbying the Federal Deposit Insurance Corp. for permission to bid on the same assets that the banks would put up for sale as part of the government's Public Private Investment Program.

I predicted this a couple of months ago, if you remember.

Wow, just wow... Sometimes you have got to wonder what banks are thinking when they do this stuff, are they trying to get the people angry?

Denninger goes on to say...

Most of the time when you rob someone (including the Treasury) you wear a ski mask so your identity is at least somewhat obscured. This has gone well beyond that; the banks are now robbing the public out on the open with the full complicity and cooperation of the government.

Do you intend to let this continue America?

No, this does not "fix" the economy. It can't. All it does is shift the loss from them to you, and those who must buy our Treasury debt so your Social Security and Medicare checks can continue to go out are not stupid enough to allow this to continue in perpetuity while tax receipts crash due to you losing both your job AND home.

I cant believe it... They are robbing the sheeple right in front of their eyes! Are they that stupid?!

I'm going to go grab a beer, a cheap cigarette (because they cost so damn much now!) and sit outside just shaking my head.

GAH! HOW CAN PEOPLE BE SO STUPID!?

But you know what Tentickles the media and the government keeps feeding us that the economy is recuperating but hey what can you expect when the first thing Obama did when he was elected president was to forget about the American people that elected him needs and got this nation into another trillion dollar debt.

A debt that is the one that have been keeping the nations Markets and banks afloat while the deficit is now "unsustainable" as per Obama' words.

After the fake "recovery" the fall will be worst than the last market fall last year.

[edit on 27-5-2009 by marg6043]

reply to post by Tentickles


Can you put it in laymen's terms for us stupid people who do not understand banking/economic stuff (I think it is only me lol)?

reply to post by xxpigxx


The "too big to fail banks" took tax payer money in the name of "bailouts" to help them pay for their financial mistakes.

In other words we the tax payer paid for all their loses.

But they have something called "toxic" assests, after the fall of the bubble call "the housing market" this bubble burst in July of 2007 and that is what cause the domino effect that is killing Americas economy right now, and the job market [among other things].

This Toxic assets is nothing but "worthless paper" that they want to "sell" in order to generate income from them.

The "toxic assets" are not backed by anything so nobody wants to buy them, now the banks wants the "government to give them more tax payer money so they can buy them themselves".

Now if this doesn't sound corrupted enough after the unconstitutional government bailout at the expenses of tax payers then people will never wake up.



[edit on 27-5-2009 by marg6043]

It is insanely corrupt.
The sad part is that they will let them do it.

Originally posted by xxpigxx
Can you put it in laymen's terms for us stupid people who do not understand banking/economic stuff (I think it is only me lol)?

Sure. Read the book ATLAS SHRUGGED. Everything that is happening now is like someone is following the book ... the looting .. the facist financial takeover by the White House ... the nationalization of everything ... all of it ...

Read Atlas Shrugged. It's basically happening now.

Originally posted by FlyersFan

Read Atlas Shrugged. It's basically happening now.

Sooooo true.....It used to be required reading, back in the day, along with The Fountainhead....Could you imagine what Ayn would have to say if she were alive today?

SO the government bought the bad loans (i.e. the bailouts) . . . and now the banks want the government to loan/give them more money (i.e. another bailout) to buy back the bad loans that the government bought (i.e. the bailouts)?


Edit: I am . . . errr . . . "acquiring" Atlas Shrugged and The Fountainhead as we speak.

[edit on 27/5/2009 by xxpigxx]

Atlas shrugged has been on my "gotta get to" reading list for years now. I guess I'm finally going to tackle that huge volume.

One HUGE problem I have with digging deeper into Randian ideology is the fact that one of her personal confidants/friends, was none other than....wait for it..........former Federal Reserve Chairman Alan Greenscam er Greenspan.

[edit on 27-5-2009 by jefwane]

Hmm..

Bilderbergs meet.

North Korea set off nuke.

Bond Dislocation.

Stretched out military talk to be used as excuse for draft.

Hmm...


The clock is ticking.

China will use this military distraction to move assets around. This has EVERYTHING to do with China.


[edit on 27-5-2009 by projectvxn]

reply to post by jefwane


Yeah, that certainly sets off a few alarms..

I havent read it either though, and prob. never will, IMO its a waste of time and there is better time to be spent just analyzing markets

Simple question here. Are all these toxic assets from foreclosures? They are actually something and backed by intrinsic value, correct?! I thought the problem was the gap between what the market is asking and what the purchaser is willing to pay. Am I making any sense?

So is it that banks have toxic assets which they don't want to take the loss for, and they're basically demanding the taxpayer pay for the difference between asking/selling price, and they (bank) get to keep the assets?

I think I may be very confused. Not sure.

[edit on 27-5-2009 by unityemissions]

[edit on 27-5-2009 by unityemissions]

GAH! HOW CAN PEOPLE BE SO STUPID!?

Because they have been brainwashed by church, state, school and media for so long they are no longer able to discern the truth. And, most don't even care as long as it doesn't effect them.

Originally posted by inthesticks
GAH! HOW CAN PEOPLE BE SO STUPID!?

Because they have been brainwashed by church, state, school and media for so long they are no longer able to discern the truth. And, most don't even care as long as it doesn't effect them.

Some banks are prodding the government to let them use public money to help buy troubled assets from the banks themselves.

Gee, I didn't know that the $700 billion that set up TARP back in October 2008 came from the taxpayers.

Thank you MT for such a revelation. Keep looking after the feeble-minded.

Originally posted by xxpigxx
I am . . . errr . . . "acquiring" Atlas Shrugged and The Fountainhead

Read Atlas Shrugged first. It's more than 1,000 pages but you'll be amazed at how what is happening today is so similar to what is in the book.


Atlast Shrugged threads -
www.abovetopsecret.com...
www.abovetopsecret.com...
www.abovetopsecret.com...
www.abovetopsecret.com...





[edit on 5/28/2009 by FlyersFan]

reply to post by Tentickles

Great post, great find, Star and Flag.

I am still waiting for the giant derivatives mess to unspool.

Saw some of it with Mad(e)off, and some with Stafford.

They have it hidden on the OTC market which is not SEC regulated.

They were taking debt, calling it an investment, and then sticking
it over there to the tune of 100's of trillions.

The Market Oracle homed in on it as well as the International Forecaster,
and buffet spoke in a marketwatch article about it back in 2007.

Google "marketwatch derivatives" and try not to puke.

Right now also they are talking that even after bailout AIG is set to
collapse, and so is Fannie MAE and Freddie MAC.

GM is forced into Chapt 11 in less than a week due to failure of its
bond sale.

44% drop in IRS revenue, and 47 of 50 states are running deficits.

U6 unemployment near 20%, so they only report the U3 numbers.

Cities are getting ready to disincorporate themselves to avoid
paying pensions and other expenses.

The commercial real estate collapse is coming, the credit card
default mess is coming, and federal governments pension
guaranty insurance fund is about to tank.

If something could suck it is about to suck.

I still say it is too much to coincidence, this was all planned.

They are gonna massively devalue and crash everything, and then
swoop in like vultures and prey on the rotting carcass that was the US.

Good Luck to all the good ppl !