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Fed Gives Bank Dividend Green Light - Full Release
Following the clusterflock of black swans that has hit world markets in the past month, the Fed has realized it needs to act quick to distribute money to undercapitalized bank shareholders ahead of the upcoming bank sector bail out, which will naturally be funded by taxpayers all over again. According to the Fed, the 19 worst banks in America (in other words those that are allowed to issue dividends) are: Ally Financial Inc. (no, really, f/k/a GMAC is healthy), American Express Company, Bank of America Corporation, The Bank of New York Mellon Corporation, BB&T Corporation, Capital One Financial Corporation, Citigroup Inc., Fifth Third Bancorp, The Goldman Sachs Group, Inc., JPMorgan Chase & Co., Keycorp, MetLife, Inc., Morgan Stanley, The PNC Financial Services Group, Inc., Regions Financial Corporation, State Street Corporation, SunTrust Banks, Inc., U.S. Bancorp, and Wells Fargo & Company. The surge in share prices of the mentioned banks confirms that this is nothing but the latest round of Fed-endorsed taxpayer rape, which nobody can do anything against as the Fed is an "unsupervised" entity, DC is owned by Wall Street, and the peasantry is downloading porn on their iPad.
Full Fed press release:
The Federal Reserve on Friday announced it has completed the Comprehensive Capital Analysis and Review (CCAR), its cross- institution study of the capital plans of the 19 largest U.S.
bank holding companies.
As a result of the CCAR, some firms are expected to increase or restart dividend payments, buy back shares, or repay government capital. The Federal Reserve on Friday will discuss the reviews and its decisions with firms that requested a capital action.
All 19 firms will receive more detailed assessments of their capital planning processes next month.
In February 2009, the Federal Reserve advised bank holding companies that safety and soundness considerations required that dividends be substantially reduced or eliminated. Since that time, the Federal Reserve has indicated that increased capital distributions would generally not be considered prudent in the absence of a well-developed capital plan and a capital position that would remain strong even under adverse conditions.
The Federal Reserve’s actions on capital distributions come after significant improvement in both economic conditions and the capital positions of financial institutions. From the end of
2008 through 2010, common equity increased by more than $300 billion at the 19 largest U.S. bank holding companies. Moreover, conclusion of the Basel III agreement to increase capital requirements and passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act have substantially clarified the regulatory environment in which these firms will be operating.
The return of capital to shareholders under appropriate conditions is a step in the process of improvement in the financial sector and will help to promote banks’ long-term access to capital. Such access will support lending to consumers and businesses. The capital plan reviews foster appropriate capital distributions in a measured fashion while still helping to ensure continued increases in firms’ capital bases.
These supervisory reviews by the Federal Reserve come in the context of a significant change in supervisors’ expectations for firms’ substantive capital policies and capital planning processes. Among other things:
Firms are expected to demonstrate their ability to remain viable financial intermediaries as they make the planned capital distributions, even under stressed conditions;
Firms are expected to continue to increase their capital base; In 2011, firms generally are expected to limit dividends to 30 percent or less of anticipated earnings;
Planned share repurchases will be reviewed if there are material adverse deviations from the revenue and loss assumptions in a firm’s capital plan such that capital is not increasing as anticipated; and
In the event of a sharp deterioration in economic conditions that could have negative implications for safety and soundness, the Federal Reserve may require modification of previously submitted capital plans.
The CCAR involves a forward-looking, detailed evaluation of capital planning and stress scenario analysis at the 19 large bank holding companies. Although it was not standardized to the degree the Supervisory Capital Assessment Program (SCAP) was in early 2009, it builds on the experience gained during that exercise. In the CCAR, the Federal Reserve assessed the firm’s ability, after taking into account the proposed capital actions, to maintain sufficient capital levels to continue lending in stressed economic environments, including under an adverse scenario specified by the Federal Reserve. The adverse scenario was intended to represent developments in a typical recession, with a decline in economic growth, a rise in unemployment, and a sharp drop in risky asset prices (for details, please see Comprehensive Capital Analysis and Review: Objectives and Overview, attached). Federal Reserve supervisors carefully analyzed and adjusted as appropriate projections of stressed revenues and losses provided by the firms in the CCAR.
It is important to note that there are a number of reasons why firms participating in the CCAR may not be making capital distributions this quarter. For example, a firm may not have requested approval of any such action, Federal Reserve supervisors may have believed a requested distribution was too high at this time and could weaken the firm’s ability to weather adverse economic conditions, or supervisors may not have been comfortable with the capital planning process underlying the request. Firms may resubmit capital proposals each quarter, with their prospects for an answer of no objection dependent on their responses to any concerns raised during the CCAR.
Comprehensive Capital Analysis and Review: Objectives and Overview (230 KB PDF)
http://www.federalreserve.gov/newsevents/press/bcreg/bcreg20110318a1.pdf
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off topic, Saudi demos underway:
http://preciousmetalsnews.blogspot.com/2011/03/video-saudi-qadaih-demons...
lol just wait for another no fly zone.. no really.. well maybe no? Never mind
The Arab kings must feel pretty stupid endorsing the tradition of the 'Friday Prayers' what better people gathering ocation can you get where all reason goes bye bye and emotions can spread like a wild fire, they can't ban it they cant use police to disperce the crown every friday they are between a mosque and a hard place
according to cnbc the saudis are providing more funding for the religious police. probably friday prayers on their mind
occasion
disperse
off/on topic
i posted on Marketwatch to skip the spin and git over to ZH for the truth...and Harry Wanger responded "ZH are doomers etc". I said he was a well known shill...5 minutes later my comment was deleted...Is he a wheel at MW or something?
Can I get a coffee pot with my ass raping?
yep. they'll break it over your head when they're done raping you.
better start stretching now!
ponzi has a really big loaf!
this FED decision should lay to rest any sliver of doubt that may have remained about our status as a full blown Banana Republic.
++++ absolutely
Sure explains the last hour of trading yesterday, as them on the inside got to act prior to us lumpkins. Mary, dear, the boys would like some donuts brought in as soon as you can, ok hun?
Where is Elizabeth Warren's Consumer Financial Protection Bureau? Another effin brilliant idea (read waste of money).
Giethner and Bernanke did to her what Greenspan and Rubin did to Broksley Born.
She never stood a chance.
Axe,
Now that is really funny. I do remember getting all kinds of gifts for opening High Yeild Savings accounts. My Mother and I would run from Bank to bank transfering money for the Gifts. Put in one take it out of another. Rince and repeat. We also made great interest. That must have been when Volker was the Fed head.
MARKTOFANTASY4EVA
I would start a poll somewhere, for the general population, as to whether they'd support QE3, but they'd probably confuse it with a cruise ship or movie sequel.
And this is why The Bernank need not be worried, for he can literally run the table.
In the meantime, more hollow words:
Can't afford to make a market negative decision. This cannot be a surprise to anyone.
Epic Corruption
It's no longer called corruption. Now it's called "Free Market Capitalism"
The hubris of not holding back the announcement until 4:59pm on a Friday is telling.
They are not fools. They know that in the grand ole USSA everyone has been distracted since the first round games tipped off yesterday afternoon.
As such, they could hold a press conference right now announcing that payroll taxes are going up effective immediately with all funds going directly into private accounts, and the only crying from the populace would be directed not at them, but at referees who make bad calls.
Got to have priorities you know.
When I hear FED, I'm reminded of the Boa in Jungle Book, Swaying, eyes mesmersing, softly singing "Trust in meeeeeee, trust in meeeeeeee"..
ORI
you're not the only one, symbol swami. the "world's greatest conspriacy theorist" has been hammering on asp-ness of the rothschild viperz for weeks, now!
here's the one and only R.D.Bradshaw, from goldSeek.com, this date:
The Goldsmiths, Part CLXXXV
enjoy, you old snake-charmer, you!
So how does the logic work now? The nation's money center banks are healthy enough to resume paying (larger) dividends due to vastly improved economic circumstances.
How does Bernank then justify QE^3? Is the dollar too high? Interest rates too high? Food and fuel prices too low? Foreign governments too stable? Are we that starved of liquidity?
I was thinking the same thing. How can he now justify more QE? One can only guess that corruption is at an all time high and Ben figures he can now do whatever he wants, screw the peasants bring on WWIII if they don't like it. I certainly don't see this as a "good" sign, but will always buy the rumor and sell this news as long as fraud remains the status quo.
Also my first thought. But will it matter? They would be able to ram QE3+ down everyones throats regardless. Or so it seems.
Central Banker Rule #1: (there's no need for rule #2)
Ample liquidity ensures peasants will occupy their time playing 'Angry Birds', watching 'American Idol' and tweeting their posse from newly acquired iPads rather than storming said bankers' primary residences armed with torches and pitchforks.
The point is, at the very least, to get people to pile into the notion of austerity... that QE will be withdrawn... whether you believe them is your business. [again, these people and they puppet masters make their money on the volatility and know everything ahead of time]. I personally think that the FED is temporarily screwed and needs to let off some commodity steam before ramping again. How many ramps it takes before people throw their hands up and toss the dollar is anyone's guess... presuming we even get a pullback.
Great thought Macho Man.
What the FED will probably do is to let QE2 die and let (or create) a market CRASH. Of course all of the Major Banks will know this and Short the Market. Then as you say let some of the steam out of the Oil market. Then everyone will cry for QE3. Banks will then cover their shorts and go long into the FED QE3 pump.
Just as Americans are celebrating the growth in their Brokerage Accounts they wipp the rug out from under them again. So, they will beg for QE3.
Makes a lot of sense.
damn! you are a smart wench! there are some primo women around who burned their bras decades ago and have great nipples, too!
+1
Get real my fellow peasant! The Fed would only need to justify more QE in a democratic society. The need to justify monetary policy decisions that are charged to the taxpayers is really getting old in this day in age anyways. It was merely a formality back in the days when the public cared, and had a pair.
Rickards says the Fed has enough in maturing treasuries for 'QE to infinity' (do not believe QE winding down BS).
No worries... everything's rosie, but... interesting that the Fed will not release stress test data on these same 'healthy" banks... hmmmmm.
Ive spoken to Rickards about this. $750 Billion (Rickards number) a year is optimistic, and assuming that $1 Trillion in MBS holdings will paydown within 2 years of QEII ending. But using fed data as of March 9th I did get to $515 Billion the first year, followed by $565 and $590 the following two years, of maturing assets which the fed will use to purchase additional assets (then the maturing assets should drop by $200B and stay pretty constant). Again, that's assuming the MBS paydown rate is equal to that which happened from Aug 2010 to now (which I'm not sure is possible), and not accounting for interest, which no longer needs to be paid to Treasury but can be held by the Fed with an IOU (speculated to be about $90 B a year).
Flockit, time to start crushing those iodine pills, rolling up the beji's and clearing the nostrils for some bill bixby/peter parker moments!
Another one of those indirect market stimulus to get the ipad porn peasantry to buy into the market... Things are moving so, and like I'v said before Dr.
B lost control over his experiment weeks ago, these are just desperate measures, similar to TEPCO using buckets of water to cool down FUKU - IB
aaaaaAAAARGH! I need more vaseline.
You can get Crisco with your food stamps/ration card. better bang for the buck so to speak.
Another attempt at propping up a failed system-- this should be a non-event as everyone knows these institutions are zombies that prey on the taxpayer. Anyone or pension fund that decides to up their stake or begin to invest in these ponzi's deserves to go down when the system finally fails.
Did BAC see this before release? Lots of 4-filings, especially that HCA Holdings Inc., what gives?
http://www.sec.gov/Archives/edgar/data/70858/000114036111017534/xslF345X...
SunTrust hasn't paid back $4.8 Billion in TARP funds yet, how are they allowed to pay a dividend???
Regions is in that same boat and is still bleeding money. They owe several billions but now they are allowed to pay out higher dividends. Doesn't really matter how much the dividend is with Benny Bucks though since soon you will have to take a wheelbarrow full of them to buy your copy of Hustler.
"Peasantry is downloading porn on their iPad"
Any links Tyler? I like Old school Nina Hartley
So when are we likely to see some burnin' an' hangin' of these corrupt venal arsewipes?
This is insane.......the banks are corrupt and protected by a corrupt government. Our government is a failure in the first degree.........we have complete corruption now.
The criminal syndicate known as Wall Street is indeed running the table, looting the treasury, and destroying the nation.
Unless and until corrupt bankers are removed from the system, tax payer funds are returned to the treasury, large banks are broken up, and at least 100,000 folk from the financial services industry in NY, NY are released from their jobs, there is no chance of financial recovery from the Greater American Depression...as massive US debt looms.
Real capital [not Bernanke capital] cannot form in a banking system as corrupt as ours. It's really simple.
Egg management fee bitchez.
yield on Royal Bank of Canada 3.349 yield on JPM .444
Never fear...iPads will now be exported "with radiation" already included in the new bundle!
There's an app for that!!!!
I feel all warm and fuzzy giving my money to bank shareholders and bank CEOs.
This year will see another "record high of Bank Bonuses" on Wall Street.
These "financial services groups" a.k.a. fraudsters have financed the repeal of the regulations safeguarding public and taxpayers. They said they were going to "supervise themselves" and then melted down the economy, collected bonuses and now are hard at obstructing justice. Our very government is complicit, it is evident in the way SEC and Justice Department are p us sy-footing around the fat cats. The very fabric of our governance has been destroyed and more, bigger financial disasters await in the wings, unless we see to it that the justice is served. "I hope we shall crush in its birth the aristocracy of our moneyed corporations which dare already to challenge our government to a trial by strength, and bid defiance to the laws of our country." - Thomas Jefferson once said. How fitting, how prophetic! How alarming that we failed to accomplish that! At http://www.WallStreetClassAction.com we organize a class action against the banks, the ratings agencies and other financial institutions involved in staging the colossal securitization fraud and subsequently crashing the economy and resulting in over $5 Trillion in asset losses in the US alone. We realize that our own government is effectively a captured entity, so no criminal indictments will be forthcoming. But WE THE PEOPLE will hold the fraudsters accountable. United we stand.
Good luck, and I agree. Crash the system, crash it now. The sooner we do, the sooner compensation will find its way to people who are actually worth a shit.
terms aren't 'coined' out of happenstance, like human "resource". we are a commodity just like oil, wheat, lumber, etc. the human resource is expensive to maintain (use up valuable depleting natural resources to live because we are growing at a rate of over 3 people per SECOND globally) and are a bitch of a problem should the humans wake up. so to say this extends a little beyond money would be an understatement. the ones in conrtol aren't stupid, there's a big problem for everyone.
It's not a ponzi. Really. The bank dividends are not taxpayer funded. Trust me.
banks should only be allowed to pay dividends if they mark all their assets to market to prove they are not insolvent
Imagine CEO "PAY" since all "their" stock options are "dividend eligible"!
Become a farmer or a landlord better both, leave this scam, when it comes down
there will be no one left standing! Your rentals will do great, your produce will
feed you and many others! This is what I started doing a year or so ago! And I am slowly getting ready to exit a profession that has fed me and my kin since 1983!
Desipite all that has developed since the earthquake, the S&P is only down 1% since last Thursday's close (the last trading day before the earthquake). I am shocked that a disaster could rock the world's third largest economy and creditor to the US and the efficient market believes that only warrants a 1% decline in the S&P. This is a total farce and the central planner could only play with currencies so long before crashing the market.
I'm old and stupid and lots of grey hair. And I don't want to pull it all out.
So I'm going to put my head in a bag and SCREAM.
""""""""((((((((((FUCKING BULLLLLLLSHITTTTT)))))))))"""""""
The surge in share prices of the mentioned banks confirms that this is nothing but the latest round of Fed-endorsed taxpayer rape, which nobody can do anything against as the Fed is an "unsupervised" entity, DC is owned by Wall Street, and the peasantry is downloading porn on their iPad.
Good god, man. Who in the world could have said it better?
Oh, I almost forgot my Friday song dedication to the U.S. Taxpayer, courtesy of the Ben Bernank and The Timmay Geithner:
From France! Man, they were big. Must have really been something to them. Really had something going. Kurt was about to be the biggest rock Star of all time, and he had a new love of his life, his daughter Francis Bean. He had cleaned up while touring the world with Nirvana. Then he died.
http://www.woosk.com/wp-content/uploads/2010/04/kurt-and-fran2.jpg
Nirvana - The Man Who Sold The World:http://www.youtube.com/watch?v=fregObNcHC8&feature=relmfu
I have to believe this, the intervention, the power cable news, etc. were all engineered for today's expirations. We need to see some downward pressure next week. Otherwise, maybe I should start eating McDonalds and watching TV - then I could go happily to the mall every weekend with my newly found consumer confidence!
The timing is exquisate.
It's still gonna take an afternoon short sqeeze to get them in the money.
MS is at $27.50 and the calls are at $30 & $31.
BAC is at $11.17, up .19 and only $12 has more open contracts.
GS has surprisingly few contracts.
I'm sure that when the date was set it was intentional but of course no one saw the radiation coming until it was too late.
And you guys/gals pay your taxes...???? You are paying for your own slavery..... The Non Federal no Reserves Corporation LOVES you.....
I had the naive impression that US Bancorp wouldn't necessarily belong in that group. Are they just as bad as the rest?
So the trickle down starts with dividends?
Honey, pack the wagon and hitch the mules. We're headed to the Hamptons.
US cost of living hits record:
http://www.cnbc.com/id/42130406
Click your heels 3 times and repeat after the Ben Bernank:
There is no inflation. There is no inflation. There is no inflation.
Is your nose growing?
Disgusting, but not unexpected. The Fed is ONLY looking out for the banks. Anyone that believes otherwise is naive...
JFC
So, this SHOULD cause heavy rotation out of dividend paying REITs and into financials!!!
Oh fuck, REITs are still way way up anyway. I guess my thesis was wrong, again.
"In the event of a sharp deterioration in economic conditions that could have negative implications for safety and soundness, the Federal Reserve may require modification of previously submitted capital plans."
A situation which is likely one well placed Shiite suicide bomber on a Saudi oil field away.
The ghosts of Joe McCarthy and J Edgar are already calling for me to appear before a congressional hearing for just making such a suggestion and "putting thoughts and plans into the minds of our enemies".
Insanity.
We live in an age where to adhere to a moral or ethical memeplex makes you a sucker and a mark.
What is it about banking that appears to attract sociopaths?
New ethical meme: Debts to living people are to be honored. Debts to governments / corporations ... repudiate at will.
<<< We live in an age where to adhere to a moral or ethical memeplex makes you a sucker and a mark. >>>
You are correct in so many ways.
<<< What is it about banking that appears to attract sociopaths? >>>
Greed draws sociopaths to the banking sector as moths are drawn to a flame. That is where they can go to buy the US Congress and create the path of least resistance for themselves to wealth and power.
F'n JP Morgue announces that it is buying back its shares. Surprise anyone? Now that the taxpayer has been raped, and the treasury looted, all the banks bailed out...twice...now start pumping the ill gotten gains into their own shares.
Perfect.
In the mean time, the criminal syndicate is selling the piss out of this news...in the financial stocks specifically.
Good grief [and by that I mean please, someone get a fire hose and and start hosing out the banks]
This never ending three card monte game is boring, just take my wallet and stop bothering me
if the banks don't distribute stolen cash now, in a few months there won't be any cash to distribute! recall 2007 when wall st banks were repurchasing tens of billion worth of own shares. had they kept that cash "in the bank", they might have survived 2008 meltdown.
but since they're all now officielly TBTF, why would they use cash as a cushion for the next "black swan" when they can pay themselves, and then get a bailout!
This is very upsetting. The US Tax Payers are now funding Dividends to Shareholders and Stock Buy Backs.
I resent Tax Payment money thru QE1 & 2 to prop up the Banks and now being used to pay dividends to Shareholders and Buy Backs.
And then what happens when the Banks fail and the Tax Payer is on the hook for even more money.
CRIMINAL JUST CRIMINAL.
hi, wtfsparkles!
listen. banksters gotsta eat, too! they have kids who "need" braces, too! besides, without some "reasonable" QE, the Treasury checks would freaking b-b-b-bounce. food stamps would s-s-s-stop. as soon as the economy "picks up" and "re-flation" wipes out the rest of the savings of most everyone with paper assets, we can get those zeroes added to our "money" and get this shit "paid off"!
any questions? lol!
Oh for gods sake...stop all the bitching. You people still hold the power but you're too busy titillating your prostate with your nose.
Stop paying your fucking taxes if you don't believe in the system. Stop banking with the primary dealers and those banks mentioned today. Stop shopping at the mega-corporation buffet. Stop voting. Stop taking handouts from the government. Stop playing the markets...its a fucking ponzi scheme. Practice a little civil disobedience.
Get real. Who are you really protecting? Your own interests? Obviously so, because you can rant about the system but you are still a willful participant. Some smart people here, including Tyler :>], but talking ain't getting the job done. Just as hear over and over again from you whiners...."watch what they do, and not what they say"....they are saying the same about us!
You don't like the system....change it. Stop reacting to their stimulative bullshit and propaganda. Turn your back on them. Remove them from your lives. And stop the fucking whining.
BOY, that would get their attention if everyone stopped paying their Income Taxes. Talk about the FED and the Government scrambling.
Although, as much fun as it is to think about, I doubt it would ever happen. The penalties are too tough.
wtfsparklez,
isn't getting out of banks just as important as claiming 9 dependents and delaying all payments to all goobermints as long as is feasible? if you have the wealth of precious metals at your fingertips, and strong emergency cash on hand ~~~/;-) there are NO counterparties to that freaking par-tee, now, are there? the more they print, the more Federal Reserve Notes and barter value for your PM's.
Why do we even have a President, Congress or a Senate anylonger? This proves who is in control and who is calling the shots. What the Federal Reserve has done to destroy the future of America should be criminal. People should be in the streets fighting for the future of their children. Now the pimp daddy FED just keeps handing out money and wiff to its whores. With all the intervention going on right now it's pretty obvious the ponzi is getting more and more complicated everyday. I understand now why Ben Bernanke said he was 100% positive he could control things if they got out of hand. He is in control of everything and doesn't need any approval to manipulte any market or steal from the American people. He has been givin a green light by our lame Congress and Senate to rape, steal and pillage anything he wants. Who would have thought just a few decades ago that our very existence would rely on a milksop and his Federal Reserve and a handful of bankers? I don't see how we will make it even a few more years without this whole thing falling apart. What scares me is the silence from nations like China, Russia, Iran, and other oil producing countries that can hold us hostage at any givin time. We are being led into an economic trap and when they pull the rug out from under us it is game over and it will be too late for us to do anything except start a big ugly war that we will never win.
WOW the mob is more honest.
Going to Dicks and buying a pitch fork and a tiki torch.
we all know these banks are insolvent.
WAKE UP AMERICA
Amazing, let's just take Shitti (formely known as Citi) as an example, it's equity has market value of 131 bln, assetts are 1.9 trillion, so MV equity to assets is 0.6% or 14 times leverage...and this is before considering any additional leverage added by derivatives, repo 109 or whatever they invented since 08.....and now they get green light to milk the tiny equity...un-fucking-believable bithchez! This is more likely to explode than the Fukushima reactor...this is the Fuckusall reactor and the Fed just increased it's chances of meldown to 99.9% give or take 10 bps.
I'm hooked on intervention!
Hardly a day goes by that the Fed isn't marshaling the markets, the economy, and now Forex and global commerce and international relations.
Bernank has truly arrived! He is the Utopian Leader we've all been waiting for!
DOW not 36K, 360K !!!!
Bernank has to intervene and pump the markets any way he can. The government pension funds need the Dow to hit 36K or better just to be able to get the 'rainbow and unicorn' returns these funds need to stay above water. Calpers admits they need 7.5% annually.
http://www.cnbc.com/id/15840232/?video=3000011329&play=1
No coincidence Calpers out making the PR rounds after its starting to come out that it was an executive piggy bank during the 'boom' days.
http://www.latimes.com/business/la-fi-calpers-probe-20110315,0,126433.story?page=2
I guess they don't mind if the poorest 50% of the world's population starves to death.
I'm hooked on intervention!
Hardly a day goes by that the Fed isn't marshaling the markets, the economy, and now Forex and global commerce and international relations.
Bernank has truly arrived! He is the Utopian Leader we've all been waiting for!
DOW not 36K, 360K !!!!
http://www.youtube.com/watch?v=M8ghWyG1kAw
~1:08 "...I'm losing control..."
More evidence that you cannot fight City Hall.
JPM rocketing more than 3% already, has way outperformed NEM, AEM, GOLD, KGC, and other assorted mining stocks strapped with OTC derivatives, which prevents them from paying a meaningful dividend.
Seems like with $1,400+ gold, NEM should be paying a yield of 6%.
JPM will probably be paying 4% by the end of next year, that is why investors are voting with their feet and buying The Morgue right now.
Not everyone in the county falls for the bullshit coming out NYC and DC.
From Drudge Report: Barack H. Obama Elementary to close....due to low enrollment
I wonder if anyone believes they just now opened the swap line.
NY Fed confirms intervention in currency markets:
http://hosted.ap.org/dynamic/stories/U/US_FED_INTERVENTION?SITE=AP&SECTI...
This is like spitting in the face of ever American Taxpayer. They have lost big with the crisis the Banks created. They have paid to re patriate the Banks. They have lost money on every POMO to benifits the Banks. And now the Banks are going to give the money away to Stockholders and buy back their shares?
After close to 3 TRILLION IN DEBT to bailout the Banks and now they are going to give the profits away.
They should be paying dividends to the American Public who has lost their shirt on their actions.
The elites view you as animals. You should make peace with that, and plan accordingly.
Funny; I view them as dead men walking. If you squint, you can make out the ropes around their necks already.
"The surge in share prices of the mentioned banks confirms that this is nothing but the latest round of Fed-endorsed taxpayer rape, which nobody can do anything against as the Fed is an "unsupervised" entity, DC is owned by Wall Street, and the peasantry is downloading porn on their iPad.The surge in share prices of the mentioned banks confirms that this is nothing but the latest round of Fed-endorsed taxpayer rape...."
Just a creative new way to pump air-backed political (fiat) money into the economy and ease the markets into a "crackup boom" as suggested by von Mises long ago.
"The surge in share prices of the mentioned banks confirms that this is nothing but the latest round of Fed-endorsed taxpayer rape, which nobody can do anything against as the Fed is an "unsupervised" entity, DC is owned by Wall Street, and the peasantry is downloading porn on their iPad.The surge in share prices of the mentioned banks confirms that this is nothing but the latest round of Fed-endorsed taxpayer rape...."
Just a creative new way to pump air-backed political (fiat) money into the economy and ease the markets into a "crackup boom" as suggested by von Mises long ago.
Push silver past 36.5 (as someone said earlier), and perhaps we'll find out where the collapse will begin.
Will China just walk away with the physical?
Will JPM lose their asses (and bonus money)?
Will Citi suddenly raise ATM fees to 20.00?
QEn+1
Like giving child molesters the right to hand out more candy.
"In the event of a sharp deterioration in economic conditions that could have negative implications for safety and soundness, the Federal Reserve may require modification of previously submitted capital plans."
Presumably that means on Monday then?
DavidC
. Internet playing up, double posted.