Tag Archives: Financial Coup

austerity

awake

Fed’s Dudley Got Waiver to Keep AIG Holdings

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fraud larceny theft
the potters picking up some bargains
don’t panic – stick together – SAY NO! To Austerity

Picture #1 – Under Bush
US Treasury Secretary Paulson (Goldman Sachs)
NY Federal Reserve President Geithner (IMF)
Federal Chairmen Bernanke

Picture #2 – Under Obama
US Treasury Secretary Geithner (NYFR & IMF)
NY Federal Reserve President Dudley (Goldman Sachs)
Federal Chairmen Bernanke

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Ideas for Revolution
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Hitmen Come home

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So This is Capitalism

capitalismSo this is Capitalism, eh?

The New Job Expectation and Motto of the US should be, “Shut up, and be glad you’re alive. Now, get back to work or you’ll be replaced.”

What a terrible atmosphere this is creating, Americans living under greater stress and fear to provide for themselves and their families. Apparently, this is just how corporations like it, and while President Obama wants to improve our image in the world we’re not looking so good to each other right now.

Hard to convince me we are not under the throngs and duress of a Corporate Financial Coup.

1.  Fact – President Obama has surrounded himself with people from Goldman Sachs his largest campaign donor.  Quid Pro Quo?

2. Fact – President Obama hired and reappointed the same people in Federal Reserve under Bush, the people who failed the system, the one we are suffering under now.

3. Fact – President Obama is backing down, he’s changing his mind and allowing corporate tax cheats to get a pass.

4. Fact 1 & Fact 2 President Obama has allowed Big Pharma and Big Insurance  to continue their theft while Fact 3 still, 44,000 uninsured Americans die needlessly every year due to lack of health care; that’s 120 people each day. If that many Americans died in Iraq or Afghanistan we’d lay complete and utter waste to those countries.

5.  …and speaking of Afghanistan, FACT even after the announcement of being awarded the Nobel Peace Prize President Obama decided only days later to quietly send 1300 more troops to Afghanistan.

Democrats FAIL.

Time for a change, time for a Third Party and the time to start is now, because apparently the good will of the people and their vote for change meant nothing.

Someone should have mentioned to the Nobel Committee before they voted, you reward good behavior after the fact, not what you think someone says they might do.

Now before the Obama droolers are all over my dissatisfaction with this president, let me remind them Bush and a Democratic Congress bailed out the Too Big To Fail Banks FACT within a week and that bailout money is still going towards bankers bonuses (President Obama –  FACT a. Before and Fact b. After) and profits while Americans are losing their jobs and homes;  FACT one every 13 seconds; and that number will double by year’s end; that’s one every 6.5 seconds.

Meanwhile, the rest of us pay for these losses, bankers toxic waste, dumped on us by these big banks as they continue to FACT get fees for foreclosing on us all. (looking for a better and more credible sources, but banks are charging the homeowners and ultimately collecting those fees from the tax payers).

Here’s a good question the American People haven’t even wrestled with, “What are our priorities as a nation and as a people?” Are we still in, “As long as it’s not me” mode heading towards “You’re on your own buddy” abdication?

FACT – It is you.

Finally, to the die hard Obama supporters, the bloom is off the rose and here’s a no-brainer piece of advice to the Teabaggers, LGBT Community and Health Care Advocates Protesters, find a way to join and hold hands or right now, this is as good as it gets.

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Financial Coup

This is what a financial coup looks like

The $13 Trillion could be given to every American and used to pay off every mortgage and credit card debt in the US and we’d still have money left over, but it’s being given to the banks.

March 31 (Bloomberg)
“The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion…”

“New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation.”

If you’re a family of 4 that’s $168,420 in your pocket.

Instead you’re allowing your government to give your money and country’s wealth to the people who created the mess, the banks.

Why?

This is a what a financial coup looks like.
President Barack Obama and Treasury Secretary Timothy Geithner met with the chief executives of the nation’s 12 biggest banks on March 27 at the White House to enlist their support to thaw a 20-month freeze in bank lending.

“The president and Treasury Secretary Geithner have said they will do what it takes,” Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said after the meeting. “If it is enough, that will be great. If it is not enough, they will have to do more.”

Commitments include a $500 billion line of credit to the FDIC from the government’s coffers that will enable the agency to guarantee as much as $2 trillion worth of debt for participants in the Term Asset-Backed Lending Facility and the Public-Private Investment Program. FDIC Chairman Sheila Bair warned that the insurance fund to protect customer deposits at U.S. banks could dry up because of bank failures.

‘Within an Eyelash’
The combined commitment has increased by 73 percent since November, when Bloomberg first estimated the funding, loans and guarantees at $7.4 trillion.

“The comparison to GDP serves the useful purpose of underscoring how extraordinary the efforts have been to stabilize the credit markets,” said Dana Johnson, chief economist for Comerica Bank in Dallas.

“Everything the Fed, the FDIC and the Treasury do doesn’t always work out right but back in October we came within an eyelash of having a truly horrible collapse of our financial system, said Johnson, a former Fed senior economist. “They used their creativity to help the worst-case scenario from unfolding and I’m awfully glad they did it.”

Federal Reserve officials project the economy will keep shrinking until at least mid-year, which would mark the longest U.S. recession since the Great Depression.

The following table details how the Fed and the government have committed the money on behalf of American taxpayers over the past 20 months, according to data compiled by Bloomberg.

Quiet Coup

US Indentured Slavery

Audit the FED

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