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Sheila Bair Addresses A Worried Nation
100: Partners Bank, Naples, FL
101: American United Bank, Lawrenceville, GA
102: Hillcrest Bank Florida, Naples, FL
103: Flagship National Bank, Bradenton, FL
UPDATE:
104: Bank of Elmwood, Racine, WI
105: Riverview Community Bank, Otsego, MN
As you watch the bobbing metronome of Sheila C. Bair's head during this video ("...but as I said [left tick] we have the ability to immediately access [right tock] up to $500 billion from our Treasury line [left tick]...") wonder to yourself quietly:
- How is the FDIC going to slurp down another $500 billion without some roof rasing action on the debt ceiling?
- How can ANYONE promise that no insured depositor will ever (until the heat death of the universe) lose a dime?
Meanwhile, if anyone is spreading evil rumors about the FDIC, make sure to email flag@fdic.gov immediately.
Try not to get motion sick and vomit. Also, try not to vomit.
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Marla covered it pretty well: http://www.zerohedge.com/article/grand-total
WTF with Naples
they don't even know that they've lost yet another bank (Hillcrest) LOL
http://www.naplesnews.com/news/2009/oct/23/unlucky-number-naples-bank-be...
Did she say "The US Government cannot run out of money"?
I think she meant that the U.S. Government cannot run out of OUR money (or that of our descendants).
Dear ... God ..........
She knows she is lying, or she is retarded.
Either way, she is unfit to serve.
I admit to being fairly naive and unintelligent, but I can't help but feel insulted at being expected to swallow that nonsense without first being slipped a Roofie.
"Dear ... God .......... She is lying, or she is retarded"
are those mutually exclusive?
Your call..
DaveyJones,
You're fitting in nicely here at ZH. It feels good, doesn't it.
thanks. It does
lots of bright insane people. the only coping mechanism for an insane world
"Did she say "The US Government cannot run out of money"? "
Yes, it's the same principle as "I'm not broke if I still have checks!"...
US Fed is all coinclipping, counterfeiting, and discounting future promises for present spending.
In other words, the paradigm of a deadbeat, spendthrift, bankrupt.
But with a pretty shield, seemingly erudite language, and the Jewish support groups shaping herd behavior, they can pull it off for much longer.
1913-2012 99 years. Fair run for fleecing the peons and peon nations.
Just in time for Halloween!
Looking like this rollercoaster has reached the top again.
Only, i noticed while i was on the way up, that there were no tracks left on the other side of the apex for the way down.
Typical for me.
Don't worry I have a shoot that Donald Trump gave me in the wake of 9/11.. It's all yours..
He's a beauty isn't he???
I think that the thing to focus on here is that the red jacket just doesn't work with the blouse she's wearing underneath. How does she expect to create financial stability after having put Obama's Fashion Czar on high alert?!
clearly, we need robo for a fashion commentary.
Oh, please spare us... I don't want to see what he would post... he really crosses the taste borderline much to frequently as it is... I'd rather see Andy post another version of Petra before that happens... NOT ;-)
rumor has it that robo is entertaining a new avatar....
Andy's pics are....artistic!
I found out that the whisper numbers for the new avatar were 34-24-34.
For the Cop that is MnN...
http://www.youtube.com/watch?v=DLUuFPAJpfs
There really should be a cookies and cake page for that tho.. Even for a monochrome fan like myself.. [;)
yeah i can't tell if she got that ensemble at
j c penney or walmart....maybe it was supplied
by the production crew to gain more credibility
with the blue-hairs....
Blue hairs?......
The health care plan will deal with those stiff's....Muhahahahahahaha
Funny you should say that,,, I smelled her perfume, and it was unmistakably "Evening in Cleveland".
As in Cleveland Steamer?
Google it! :>)
When authorities start to tap debt markets (paper) in order to cover deposits (which is base money), hyperinflation sets in.
Her body language tell us she is lying.
Her spoken language tells us she is lying, too.
well said Unscarred!!!
;-)
It really is that simple. The fact that everyone is "towing the company line" on this one - from Sheila yesterday to Obama this morning - tells you how serious this is going to get.
Dupe
STATE OF WASHINGTON-STERLING SAVINGS IN SPOKANE? THEY WERE TOLD TO COME UP WITH 300 MILLION IN 90 DAYS OR LESS I BELIEVE- OR CEASE & DESIST
Sheila Bair is one of our best regulators. The problems are very large. I'd trust Sheila and the FDIC who act very professionally over the OCC & the Fed in a minute
thanks for contributing sheila.
Truer words were spoken
You need to hit the books in the section called REALITY.....
Sheila, is a broom!!!!!
The Powers That Be have me feeling increasingly schmonfident.
Sincerely,
Jim Zorn
I'm Sheila, Fly Me!
And next Friday is mischief night. Be afraid. Be very afraid. The zombies may come out of the darkness.
This little video is just a setup play to get that debt ceiling raised. Afterall, she just made a promise to the frightened silverheads who are already super-pissed about the healthcare fiasco.
Now how many congresscritters are going to vote "NAY" on expanding the debt ceiling to insure Granny's deposits ??
Now how many congresscritters are going to vote "NAY" on expanding the debt ceiling to insure Granny's deposits ??
all repubs will vote no. house democrats who vote no will have to give up something for nancy, same in senate.
No need to worry about the debt ceiling increase. But, is a no vote worth having to give 'Nance' a little somethin' somethin'?
http://www.eteamz.com/edgewoodcougars/images/2009128174423_Cougar-4.jpg
she gets her energy from Rahm, and Rahm got his post from her--it is repulsive, but obvious to the trained observer..."nudge nudge say no more"
Corrected, DH......GOP gets a freebie no vote. But I am curious about the rationale that will be referred to by the Dems for lifting the debt ceiling. Surely they won't be delusional enough to refer to a pending need for an FDIC loan from Treasury. Maybe a TARP II will be the company line....??
they will do everything to make it a non issue.....they are trying to attach it as an amendment to a defense dept bill....if the repubs push, and msm picks it up, they will certainly be non specific and paint a broad brush i.e. we've always done it, we need to have the right tools to help the american people, blah, blah, blah
My heart stop beating at-" no matter what happens."
It reminds of the time my third ex-wife said she loved me no matter what happens.
I lost what little the first two did not take four months later.
+1 for chilling astuteness.
I looked you up. Your not warm and fuzzy. I appreciate the response. Hopefully I can return the favor.
Ever consider the possibility that just having a regular place to get your dick wet isn't worth the downside risk?
RE
Wow, now I feel much better Sheila. So lets see, we are a broke, corrupt and the only way we can pay our bills is to electronically print money. We are hated by our trading partners, benny and timmy lie to us almost every day, GS runs our treasury and markets and you tell us not to be concerned.
Great, now I can concentrate on the next American Idol.
Sorry Marla, I did throw up.
ahhhhh, pass me a tissue will you please? not because I got tears in my eyes, I just feel like taking a crap...
You can use that tissue for a better hobby....
Endurance or Distance...
interesting...cnn website, which usually resembles people magazine, has the fdic 100 bank failure as one of its top stories.
must.stop.msm.coverage.now.
"we cannot run out of money"
note to sheila: order more ink.
+100
no ink needed... just a few presses on the controller with the FED cheat codes and...boom.. unlimited funds!
LongLive ZH
I became sick, just as predicted.
She is mocking Obama's head movements as she spews the party line.
She doesn't believe a bit of that crap, and she is in a position to know what is going on. But, what would you or I do if we had her job and a family to support with tax-dollars?
at least she didn't wag her finger and say, "now
look..."
Is there any chance I can get Canadian dollars by Monday morning?
Imagine that... Americans hoping to bankroll loonies. WTF?! The last time Canada was relevant was the 2002 Winter Olympics, when the Russian mafia stole two ice skating golds away from them.
And now, we're flocking to their currency - a welfare sate of $34M with a GDP of $1.3T. At least their policy makers didn't bury their heads up their owns asses, I'll give them that much!
Yeah, what a friggin' surprise. We aren't run by GS, our banks actually hold on to their mortgages, so they care if the people getting them do have income and assets, our feds actually ran surpluses until the US imploded, and our national pension plan actually has assets instead of IOU's.
We have fewer people on welfare than the US does in prison (and it's a lot cheaper to give someone $2,000/month than it is to keep them incarcerated; you could look it up). Our health care costs, despite socialized medicine, are lower per capita than in the US but somehow we achieve a longer average life span. And don't start lecturing me on the military - Canadian soldiers in Afghanistan, working in the most dangerous area, die at a rate twice that of American soldiers working in safer areas.
Yes, we're the staid, boring, bland neighbours to the north. And we really do want to see the US emerge from its slump (although the present Admin seems determined to prevent that), but after decades of being laughed and sneered at by Americans, it's hard to avoid just the teeniest bit of schadenfreude.
Was she in , Terminator3 ...Revenge of the machines ... That voice is gonna haunt me tonight
This is the same as the "the banking industry is sound" argument, if it really was, you wouldn't need to actually come out and say it.
In early 2008, when the company I was working for was filing to go public, I was in a meeting with our CFO when he got an emergency call from Lehman Brothers.
They were one of the book runners on our prospective IPO, and Bear Stearns had just gone under. They called and swore up and down that everything was fine at Lehman and it was business as usual.
So later the next day I asked him if he'd received similar calls from JP Morgan and Goldman Sachs. No, he said. Well then, that means Lehman Brothers is going bankrupt doesn't it, I said.
Not long after they were gone.
Point being you're dead right. One also recalls the authorities telling people to stay put in the World Trade Center after the planes hit...
that's because the authorities planned the
destruction of the wtc and needed to kill a few
more key people...
Marla: I'm surprised you didn't mention anything about sentence at 2:06 "In short we cannot run out of money", what better way to say 'we'll print ourselves out of any- and every- collapse'?
got another from the land of lincoln and obama.
OMG, she is a bobblehead. I want one!
Update to add First Dupage Bank in Westmont, IL?
Dear Ms. Singer,
I sense you are getting a bit restless by the frequency and voracity of your posts. Please keep them coming.
The most acute phase of the crisis is upon us, equity market be damned if it sqeezes another percent or two. The scary thing is that Europe has been feeling the brunt of the pain in this game of "pass the currency." Our turn is imminent, and will manifest itself in a TBTF failure.
Checkmate, Bernanke.
I've also noticed and appreciated the uptick in Marla's posts. Similar but still different and valuable perspective.
The acute phase of the crisis does seem to be close at hand.
Citigroup?
Dudes,
That is the same voice that announced "Carousel" in "Logan's Run", and the female version of HAL 9000 in "2001". Some sort of anti-depressant at work there.
I'm thinking klonopin and lexapro with an abilify chaser, plus desyrel for sleep. PRN klonopin for the especially stressful times . . . and she hit it hard before this one.
Or some serious opiate dependence.
106 - First DuPage Bank - Westmont, IL
wow, see the COF ad here?
there's a "value" company buy for ya.....
Relax folks, the situation is well contained.
Sheila C Bear market
Can't... Stop... Dry heaving....
http://eclipptv.com/viewVideo.php?video_id=7958
overlay this to the music its awesome..
i like Peter Schiff too, and i don't live in CT, so i can't have a vote for or against him, but here is something worth looking into:
If you read the book The Creature from Jekyll Island, A Second Look at the Federal Reserve you will read about a man named Jacob Schiff who was the head of a major investment firm, Kuhn, Loeb &Co. He was a principal backer of the Bolshevik revolution and he was an advocate for the passage of the Federal Reserve Act....even though Peter Schiff's lineage may not be in relation to Jacob Schiff, and even if he is a relative, that doesn't make him guilty of an ancestor's sins, it is however, just important to know where people come from.
I don't think they're related.
Also, Peter's dad is Irwin Schiff, well-known tax opponent...http://en.wikipedia.org/wiki/Irwin_Schiff
Thankx faustian bargain! i just put it out as a possibility as a public service!
I do think he has done a fine job of analysis over the last few years, and with his knowledge, he could be a crime buster--let's hope he is the anti-chris dodd!
These aren't the droids you're looking for
"for instance, in 1989, at the height of the so called SL crisis"
is that like the so called holocaust?
oh, now I remember, that was that scandal where people actually got charged and went to jail.
except for the keating 5....who should have been
hung...
They DID run out of money. Case closed. Wells Fargo keeps calling me in a panic-something about wanting to move my money(it's not there) in some other savings account. They are up to no good.
Sounds a lot like when various fed officials in 2007-2008 said the subprime problem would be "contained". The bank insolvency problem will be contained too. With the "expected" loss ratios that we are seeing (based on the FDIC's "estimate" which is probably rosy), this is going to be "contained" all right!
Monday Oct.26th Bloomberg News: "Stocks advance led by whatever banks are left."
Overheard at the Fed:
Sheila, that's not how I taught you to move your head.
The more the govt goes out of its way to tell me there is ABSOLUTELY NOTHING to worry about... the more I worry.
That's rather comforting, for the FDIC head Ms. Bair to come out on Friday evening and ramble on for 3 minutes about how safe your money is.
Are you thinking what I am..
Monday morning/ no money / bank closed.... And Ms Bair is heading for the tall grass...
Apparently Friday evening is the preferred time to roll out bad news...there are less people paying attention.
My question is why now,when at the height of crisis last year people didn't seem too worried about their deposit,and I don't recall that anybody from the FDIC showed up in such fashion(pleas correct me if I am wrong. Is it because they are not able to do certain things,or may be something big coming up(like an actual publicly traded bank)?up untill now,none of the banx is publicly traded(unless somebody here knows of one).But again,WHY NOW?aren't we suppose to be in the green shoot period,or is it before the complete drought??!!!
I took all my surplus cash out of the bank today. And plan to keep liquid until...
HOW MANY CEO'S SAID THE SAME THING ONLY DAYS BEFORE THEY BLEW UP IN 2008 and 2009?
OFF COURSE YOU ARE COLLECTING ALL THAT INTEREST SO IT IS WELL WORTH THE .25bps that you are making on that deposit as your purchasing power gets cut in half so whatever you stupid americans do ...don't take your money out...leave it in the banks!
PLEASE FORGET THAT THE BANKS ARE INSOLVENT, THE COUNTRY IS IN SOLVENT AND YEA>>>>> SO ARE WE (THE FDIC)....
will trade fresh
afgani opium
for
lehman shares..
They should cast Kathy Bates to play her when they make a movie of this period.
Bank run Monday.
My twin brother stole my idea about Annie Wilkes
http://www.youtube.com/watch?v=i5OlolbLXvw
I've been thinking,,which is dangerous shit for me,,But do you folks remember about a year .5 ago that it was widely speculated that when this banking collapse starts it's going parabolic...
Friday Oct 23rd 7 Banks down the sink.
Friday Oct 30 20 Banks "
Friday Nov 6th 65 Banks "
Next 678 gone
America GONE
Shiela Baird GONE
Geopol - look at the chart in this thread over on itulip:
http://www.itulip.com/forums/showthread.php?t=11654
Specifically, this picture:
http://www.itulip.com/images/non-performing1987-Q22009.gif
Geopol - look at the chart in this thread over on itulip:
http://www.itulip.com/forums/showthread.php?t=11654
Specifically, this picture:
http://www.itulip.com/images/non-performing1987-Q22009.gif
Thanx, I believe this will be the vortex around the drain.
MUWAHAHHAHAHA
Flagged!
Watching the video while listening to Radio Zero was incredible.
A question to poise to Ms. Bair.
Are you protecting my deposits from inflation?
I watched the video. I vomited. Sorry Marla, you warned us not to vomit but I couldn't help it.
I have this strange feeling that I would like to take the entire fractional reserve banking system and shove it up the Federal Reserve's collective ass.
How bad do things have to be for the head of the FDIC to release a confidence brief?!
Bad enough that drugs are required to deliver the brief.
IE:Grave, very grave.
Ya know I'm getting sick and tired of saying to people "I'm afraid you right"
But I'm afraid you right...
In terms of an average size of a 'bank', how large was LEH or MER? Probably huge
Perhaps the REASON the debt ceiling is being raised is due to expectation of the necesity of that line of credit. just a though.
Bair really makes me angry. She is deceitful and manipulative.
When a bank "fails" what really happens? Actually, nothing happens.
The bad loans are still there - they don't just magically vanish.
They are simply handed over, along with all the existing deposits, to another bank that essentially gets more 'assets' (and customers) for nothing, while also shaking off those pesky bond holders and stockholders.
This is what happened when Washington Mutual was seized and given to JPM. The entire purpose was to make JPM richer, while simultaneously eliminating competition.
Bair was central to that conspiracy.
I have full faith in Ben Bernanke's willingness to print up however much money the FDIC requires.
It may take a wheel barrow full of money to buy a tank of gas; but I have no doubt that the FDIC will make good on its promise.
Oh my!
"at the end of the Second Quarter, we had more than $42 billion of reserves", she said on October 23, apparently feeling it was unnecessary to mention that the already complete Third Quarter ate that whole chunk.
"we have asked banks to prepay THREE YEARS of insurance premiums", but we can get all the money we need from Treasury (which is also where the banks are getting their funds for the three years of premiums).
"we'll never run out of money", of course we're a little low on faith and credit.
"In the 75 year history of the FDIC, no insured depositor has lost a single penny"
And how many years ago was the previous Depression? So it's as battle tested as the Spanish Armada?
"at the end of the Second Quarter, we had more than $42 billion of reserves", she said on October 23, apparently feeling it was unnecessary to mention that the already complete Third Quarter ate that whole chunk."
If not for all the head-wagging-of-reassuring-compassion, people might have paid more attention to that particular part of the show/con.
"We can never run out of money"
But your money can run out of value.
Haven't you heard? There's no "inflation"....
Ya , and there was never a BJ performed at the high school prom..
I'll thank you not to mention BJs on the same screen as a video of Sheila Bair bobbing her head around, SIR.
Stevie Wonder was a lier?
rather begs the question...if a depositor doesn't notice if a bank fails and there is a seamless transition..what's the point in having a deposit in the bank in the first place? may as well turn the FDIC into a bank and charge banks anyway...hmmm...wait ...there's a catch..no banks left..hey! maybe we will get money centers that work and that aren't banks! Simple!
Sheila is way in over her head--she used to run the NYSE Washington office back when they were something. However the fact that she is a little better than the rest speaks volumes as to the talent in DC. A Bob Dole creation--think about that-
NOTICE how the FDIC will never mention the TIMEFRAME for returning your money!! WHY??? Because they can take as long as they want to get it back to you---it's in the fine print !!!
Why anyone would have money in one of Bank of America, Citi, or Chase is completely crazy!! Send these taxpayer dollar stealing criminals a message by moving your funds to a local bank that did not lever up, or solid credit union!!
If the government wont protect us, we need to protect ourselves!
Once again the axe comes down after 4:00 pm Friday. I'm sure it's just a mere coincidence.
All is well in Pleasantville folks. Don't worry.
i feel like Balloon Boy after watching this video.
anyone who hasn't already should rate this video on youtube.
currently rated 1 1/2 stars.
The Government issues Xanax to Civil Defense Management during Nuclear War in the 80's I think there is much Xanax in this lady's system at the moment, or she is in withdrawl.
I know I would after having to deal with nothing and borrowing from nothing.
I hope the extra treasury printing presses being purchased didn’t go backordered. We are going to need them really soon.
No prob.,sub-contract the extra printing work to China
The little banks are failing faster because the big banks that were 'to big' to fail are still sopping up deposits.
The effect is a lot like the effect of the bankruptcy of United Airlines on Southwest Air and Delta. UAL ditches shareholders, debt, pension and healthcare liabilities and comes back.
Goldman gets defact bale via AIG and runs amok in markets, BoA and Citi do not go into receivership when they should - and they still hold all those deposits which would have run or been sold.
This is what happens when the public interest, ethics and knowledge and experience are ignored.
Dear Mrs. (Ms.?) Bair,
FYI
Your message, to me at least, had an effect quite opposite from what I'm sure were your good intentions, and now I'm scared as hell. Thank you so much.
Somebody
Sheila is the least reassuring spokesman I’ve ever heard. My question is: Why did we have to hear this? Is it because people are fools, we who have “unwarranted fears.” Are we almost to panic? I understand why Hoover kept reassuring us everything was okay. The question is, why is Sheila reassuring us?
sheila will work for the senior citizen crowd and for many in the 50+ group who are not financially sophisticated. those would be the ones in line in the first place if the msm starts drumming this up.
The fact that she had to make this video leaves me uncomfortable
Agree with the maj of ZH responders..... troubling timing here lads and lassies. Sheila is pleasantly soporific in a sensual sort of way (black silk stockings would match the red jacket...). No, seriously, fasten seatblets, here we go... it is not as it we aint been warned. Look for the first teteering domino to be conflagration centered on Iran .....MUMMY, I'M SCARED!
Something is up..... mummy hold my hand, I'm scared. still, we have all been warned repeatedly over the past few months. Its showtime.
Buster
There you again, Marla, misrepresenting the remarks of dedicated public servants and inciting hysteria in the process.
First of all, Ms. Bair promised that no depositor would ever lose a "penny." Don't try to spread panic by suggesting that depositors' exposure is nine cents greater than it is.
Second, what might incorrectly be viewed as metronomic head motions, opiatic expression and condescending tone -- however induced -- is actually just the composed demeanor with which true leaders respond to stressful situations. Just like airplane passengers in an emergency water landing at 600 mph -- blank faces, calm as hindu cows.
I think you got the speed wrong..
geeeeeeeeeeeeeeez
im getting nervous
I love the way you're breaking my heart
It's terribly, terribly, terribly, terribly thrilling
I love the way you're breaking my heart
Although you're gonna ruin it
It's heaven while you're doin' it
I love the way I feel when we kiss
You're terribly, terribly, terribly irresistible
Sigh to me, and lie to me, you really know how
It's gonna hurt tomorrow, but it feels so good now
So darling just keep playing your part
Take your time and really finish the things that you start
'Cause I love the way you're breaking my heart
Did anyone else notife that at 0:24 min when she says your deposit is totally safe, she actually SHAKES HER HEAD?!!!
Body language never lies, does it? Funny!
Did anyone else notife that at 0:24 min when she says your deposit is totally safe, she actually SHAKES HER HEAD?!!!
Body language never lies, does it? Funny!
Goddammit, I am not a fucking *CONSUMER*!!!
boo this song
who the hell is playing? not marla. was so good earlier