A group of the biggest U.S. banks said they would stop accepting California's IOUs on Friday ... if California continues to issue the IOUs, creditors will be forced to hold on to them until they mature on Oct. 2, or find other banks to honor them.
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The group of banks included Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and J.P. Morgan Chase & Co., among others.
I guess the banks don't think the 3.75% annual interest rate is worth the risk for a "BBB" rated debtor on the Rating Watch Negative list.
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Sell your IOU'S :
HERE
The new Johnny Depp movie about Dillinger shows how Americans supported and idolized a bank robber because in the 30s we hated the bankers openly.
ReplyDeleteBecause the bankers now own our media they are able to portray theyselves in a better/false light now. They can steal trillions of dollars from taxpayers openly and convince you that is a good thing.
They can have so much influence over our Congress that the Senate crushed audit-the-Fed legislation within days. No. No. Can't make the thieves open their books, ever.
When the bankers soon go for the brass ring via their power grab, bank holidays, etc - when they openly steal all the middle class wealth - people like Dillinger will once again be looked upon as American heros.
Even the banker media via CNN, FOX, ABC, NBC, CBS, etc can only cloud matters so much.