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Any day now the tribunals will begin.....wait for it....wait
Naaa... and the Fed will POMO enough 'profits' to them make up for this 'loss'.
Angelo will not see the inside of a prison:
Charles Ferguson sums it up best at the Oscars:
INQUISITION NUMBER 2
I thought Pimco had a lot of mbs exosure. Does anyone know the number? What could they possibly get in return for sacrificing the right to a bigger settlement? These guys arent stupid. I dont think the amount they make frontrunning the fed comes close does it?
It is not a matter of getting the most return, it is more about exposing the fraud in a counter party, that you have ownership in. . . they would rather see fraud swept under the rug than have it introduced as EVIDENCE
i see you didn't just fall of the turnip truck.
What could they possibly get in return for sacrificing the right to a bigger settlement?
You obviously aren't in "the big club". Neither was Bear Stearns. Capice?
Would not be surprised if Greenspan is acting as consultant to Pimco on this one too. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a1c7Ck736daM&refer=home
wow! Great link, but now I fear even more for the future...theres a digital dollar flood coming.
can't believe this sh*t bankers get away with-------During a 30-minute discussion on banks several months before the global credit crisis, Greenspan's ``brilliance in terms of forecasting the potential for exactly what happened was a big money saver for us,'' Bill Gross at Pimco
That fucking Gross!
A string of British banks have been targeted by protestors over the weekend, with branches up and down the country taken over by activists demonstrating against tax avoidance, bonuses and cuts to public spending.
Members of UK Uncut descended on more than 40 branches of the Royal Bank of Scotland (RBS), Lloyds and NatWest to set up homeless shelters, laundry services and walk-in clinics to bring attention to the social impact of government cutbacks.
"The government is making a political choice to reduce the deficit by making ordinary people pay with job losses and savaged services," said protestor Aisha Atkins. "We are transforming the banks ... to show that it's our society that's too big to fail."
Outlets in Liverpool, Birmingham, Manchester and Cardiff were also affected. A spokesperson for RBS stated that the bank accepted peaceful protests, but was keen to minimise disruption to customers.
"We are transforming the banks ... to show that it's our society that's too big to fail."
Is there a For Dummies version of this?
They've just launched a US organization. Stay tuned for fun.
and I was about to edit for a US Version..
Good on You!
HOLLY cow, they trying to give people good ideas?
all part of the "bailout brigadoons" as i recall.
Will the Fed be once again successful at subverting justice?
You can bet your pippy they can! BTFD!
Thats right. All they have to do is substite "payments" on non-existent or fraudulently rated/bundled loans within the securities that are otherwise non-performing..
There, justice averted.
Take your highest estimate of putbacks, then double it!
Rinse and repeat.
CNBC mupets give out some truthful info on Silver. Watch the guy at the end blurt out about the Asians taking delivery of SLV for physical. Nobody knows how to react and just laughs like iddiots.
Looks like they all became shizophrenic, when they've realized that there is a physical demand for 127% of physical supply. This freaking laughting attack may be repeated when they realize that lets say, bank of america is on the way to bankruptcy... and after them maybe even CNBC's owner GE :)
GE doesn't own CNBC anymore. Do a Google search for "Comcast + CNBC".
Whoops, someone went off script.
Ha ha ha ha.
so it's a race to default, will it be SLV and the GLD or the COMEX? China's placing bets?
apparently it's "US military will win" if China is placing said "bet" as reported just here just today ("China still number one in Treasuries".) Insofar as numbers go "the US and Europe stand alone in not having massive inflations that result in immediate and massive social unrests." I don't think it's because "they report their statistics more accurately outside of Europe and the US" either. The movie was "There will be Blood" and now "there is." This fact changes nothing of course.
um......yes I think this whole thing smacks of street level 3 card monte.
bbbbbuuuutt..... all of those sssssecuritiezzz were AAAA AAA by Fannie and Freddie. Thhhhey sais so. Annnnnd Bawwwwney Fwwwwank ssssaid that they weah all ghood.
"An agreement struck between the big boys could bind all non-agency mortgage backed securities issued by Countrywide, BofA and potentially Merrill Lynch, should trustees for the deals participate..."
Hmmm,and who is the big trustee? Bank of New York Mellon. And what does Bank of New York Mellon want? It wants to join the derivative dealers cartel controlled by the big banks. Just a lousy thought.
Their dead on, and PIMCO and the others where told to sabotage this in order to keep BoA "solvent" and to keep the Fed/Obama administration from having to go to congress and ask for another 750 billion dollar bailout. I really don't see how they are going to derail this with more and more institutions getting in on the other faction. Because the evidence does show that they have been doing illegal stuff and that by law they should get full reinbursment. The funny thing is that CNBC and other financial and media outlets on television hasn't been covering this soon to be big black swan.
[[investors challenging the bank include Pacific Investment Management Co., BlackRock Inc. and the Federal Reserve Bank of New York, people familiar with the matter said in October.]]
once i see the fed in on this, you know there is going to be a settlement, and swept under the rug
The FSA have recently fined RBS and NatWest and a Which? article stated:"Recently in an investigation by the FSA, 53% showed deficient complaint handling; 62% showed a failure to comply with FSA requirements on timeliness and disclosure of Ombudsman referral rights; and 31% failed to demonstrate fair outcomes for consumers. "
"Following this RBS and NatWest agreed to make significant changes to their complaints handling arrangements."
oh sorry I am in EXTREME PAIN from this revolting response
ROFIA a new term Roll On Floor In Agony
then the people will have to fight them in court , every single mortgage holder
There's no end to the slimballing and back scratching -- they're TPTB.
PIMCO is going to get big favors from the Fed after this.
Ok, I missed the link. Can't the non PIMCO / non Black Rock group go ahead with their own 100% putback lawsuit?
If PIMCO and Blackrock want to accept a 1% putback let them split off into their own group.
Why does everybody have to accept the PIMCO deal?
this does involve "States Attorney's General" and therefore "can't so easily be poo-pooed." The original "bad line" from Morgan was "4 to 6 weeks" so this article is in fact being "charitable" to "the bank of banks." of course "the states' AG's" after "going after the banksters" also "immediately stated their wish for a negotiated settlement" of said..."fraud" for lack of a less obvious reality. Point being "we've been down this road before." So let's cut the CNBC dick-sucking crap and as ask "is national bankruptcy a better option"? The bankers are asking it...i gurantee it. We should ask it too.
This morning I watched 'Moral Hazard' going backwards 100 miles per hour into the future. Crack up is coming soon.
Hey Jamie, who's going to bat lead off on Bastille Day?
You, Lloyd or the PimPs at PIMPCO?
think of the deals being made between PIMCO, Blackrock, insolvent banks ( you know BofA had some deal to swallow Countrywide) the FED. Think of the money. Think of all the money, 10s of billions at a minimum being tossed around.
Meanwhile the big thing on the news is whether someone with a college degree who works 9 months out of the year with snot nose brats should make 60k and get a pension and health care benefits and whether they should have protections to unite together to get more money from the state...what uniting is PIMCO and FED doing, and the FED, even tho we don't control them, its our freaking money they throw around....I remember 30, 40 years ago in the white working class neighborhood I grew up in, a guy could walk out of high school, start working at a factory and get a simlar type of salary, be able to easily afford a house, raise a family of four without his wife working, get full medical, and get a very nice pension ( without saving), go on vacations...no student loan debt, house paid off in 20 years, cabin up north and he was the second generation doing this!
We are arguing over scraps because there is practically 20 percent unemployment out there. Meanwhile, the FED could wipe out the budget deficits of every state for next three years for far less than a small portion of what the banks got in 2008, let alone all this other crap going on behind scenes.
You make it sound like the people running the show are not really on our side! Well, at least they direct our attention to folks within our reach upon whom we can righteously vent our frustration. We can even use Wall Street Speak and make it sound like the indisputably responsible and necessary thing to do.
Austerity for working Americans! And the unemployed, too.
$4.5 BILLION IS NOT HIGH ENOUGH!
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. Wall Street monopolistic monstrosities have destroyed the fabric of our society and broke our laws, making a mockery of fiscal prudence, ethics and justice. Even our very government is controlled and manipulated by this highly illegal banctel, where bank executive officers "retire" or transition into various government regulatory and controllership positions, futher aiding and abetting the ongoing fraud. And when the overleverages casino style betting and back-hedging finally tipples over and out of control, the losses are effectively socialized, while the injured parties are thrown out on the street. This is way worse of a "socialism" than a most convoluded and abused government wellfare program would be. It's an unsult to injury, and uninhibited and open contempt for our laws. It is clear as day that the government will not prosecute the crooks, but we the people will. United we stand. WallStreetClassAction.com
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