Comment: In other words most banks are finished. The public is not allowed to know this.
(snippet from zerohedge)
And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg's lawsuit is allowed to proceed unchallenged, let alone if any of the "Audit The Fed" measures are actually implemented.
As a reminder, The Clearing House Association consists of ABN Amro, Bank Of America, The Bank Of New York, Deutsche Bank, HSBC, JP Morgan Chase, US Bank and Wells Fargo.
In a declaration filed in the Bloomberg Case (08-CV-9595, Southern District of New York), the banks demonstrate no shame in attempting to perpetuate the status quo with regard to the Federal Reserve and demand that the wool over the eyes of the general population remain firmly planted in perpetuity.
The Clearing House submits this declaration because the Court's Order threatens to impair the ability of our members to access emergency funds through the New York Fed's Discount Window without suffering the severe competitive harm that public disclosure of their identity will cause.
Our members have accessed the New York Fed's Discount Window with the understanding that the Fed will not publicly disclose information about their borrowing, especially their identity. Industry experience, including very recent and searing experience, has shown that negative rumors about a bank's financial condition - even completely unfounded rumors - have caused competitive harm, including bank runs and failures.
LINK
Full Suit by Bloomberg Here
Obama inherited a condition of total bank failure. Systemic economic failure. It's not like he didn't know the whole thing was going to collapse under his presidency. He was apprised of the situation before he ever ran for president.
ReplyDeleteSo what did they tell him about 'their solution' and what did he acquiesce to.
That's the thing. If he was a real president of the people he would be telling the people what the real situation is. Since he isn't, he's down with the program, whatever the program is.
RandomCrap -
ReplyDeleteExactly.
He is a Goldman Sachs paid-for puppet. That is all. A great purchase they made for themselves. Working out very well.
ReplyDeleteEvery politician of any important is owned by the banks with the exception of Ron Paul and ex-congresswoman Cynthia Mckinney (now in an Israeli JAIL! for her efforts to help the starving women and kids in Gaza).
They can get reporters out of prisons run by the "axis of evil" but can't get an ex-congresswoman out of a prison run by a "friend". Nice.
ReplyDeleteCynthia Mckinney is one of the greatest patriots ever in Congress. She was removed from office over the scripted 'pushed a security guard' crap. That is just how powerful the banker media is now. That was a ridiculous scripted set up.
ReplyDeleteBow to the banksters or pay the price.
She pushed for bankster investigations and a reinvestigation of 9.11. The banksers would have none of that at all.
Now - an ex-Congresswoman sits in a jail - incredible! That is the power of the elite banksters. They deleted that story from their US media.
Do people rally to help her? Of course not.
Cynthia Mckinney is in jail? Where did you get this information?
ReplyDeleteShe was jailed in Israel a few months back by those criminals for attempting to take survival goods to the Palestinians, and released a few days later.
Is this what you are talking about? Or is she in jail somewhere else? I am sure the MSM would not carry it.
Like most politicians, he is in it for himself as much as anything else. But along the way he has to play the game and part of playing the game is making deals and appointing the various people that goes with the opportunity. It must be a shitty job compared to being the CEO of some powerful cooporation where you can make your unethical decisions entirely behind the scenes. It has greyed more than a few presidents hair, but that is the small cost of power and prestige.
ReplyDeleteLol.
ReplyDeleteCool cool kitty is gonna rule the world!
Watch out!
Another Antichrist in the making.
Cynthia Mc Kinney is a nutcase. She like that prof. Gates would have been just fine had she been courteous. As for her being in an Israeli jail, If you go over seas, you do not have the Constitutional protections she would have had here. You know, the Constitution she doesn't respect! At least with her in jail over there, she can't make trouble at home. Of course, her stunts were kind of comical. Hah!
ReplyDeleteI'll rule you and my judgment one be a nice one, BOY!
ReplyDeleteI wish I can make money as fast as the debt counter run.
ReplyDeleteCan US ever repay that?
10% interest on this will start making you think.
All Obama programs don't make sense.
This guy is a treason to the United Stated.
1- Bail out bank so they can pay bonuses. Getting noting in return.
2- Bail out home owner at the expense of the renters.
3- Reduce credit card debt at the expense of the one paying cash
4- Giving cash for gas guzzler and the expense of the person who take public transportation.
Because everybody is going to see a HUGE taxe
increase everywhere.
Because money don't grow on three yet.