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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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Klonopin is my guess.
+10
My guess is that she just graduated from the Barack Obama Hypnotizing Academy with failing grades.
lol :-)
"must...deposit...money...in...bank..."
youtube link from FDICchannel:
http://www.youtube.com/watch?v=7BxiEJcOoo0
"Adding comments has been disabled for this video."
RFLMAO
It's an old Jedi mind trick!
Thorazine....she has tardive dyskinesia!
... "damn, those psilocybe cubensis mushrooms are really kicking in.
- argh.
"For the insured depositor, a bank failure is a non event."
So if a bank fails in Florida and no depositor loses their money, did the bank really fail? This is the kind of stupid talk we get from our nations leaders.
Not only did Florida score 3 of the 4 this week (so far) but Naples scores 2 of Florida's 3. Obviously Naples, Florida is the land of milk and honey.
If you want to buy a house for approx......$7.00 your in...
http://www.youtube.com/watch?v=IfokAugdyHg&feature=player_embedded
I didn't watch the video earlier, but I'm now viewing it... I feel like a fucking two year old,,, HELLO,, MY NAME IS SB. I'M HERE TO HELP YOU UNDERSTAND THE MOST PEDESTRIAN ELEMENTS OF YOUR BANKING INSTITUTIONS..... EAT ME!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
We have always insured your deposits,,,, THEY MAY NOT BE WORTH ANYTHING BUT WE WILL INSURE THEM Muhahahahahahahahahahahaah.............
Vodka Tonics at it again... I've got to stop this shit..
Even if the dollar ends up worth anything, 500 Billion USD isn't enough to cover all the deposits in the US, no? Can someone else do the math, I just woke up and can't think straight.
I'm taking Karl Denninger's advice and closing my BoA checking account TODAY.
We need more bankers like George Bailey--" I haven't got your money here Joe, you loaned it to Mr. Martini so he could buy his house......how much do you need, I mean how much do you really need to get by?" Oh, I forgot, that was before the security of Deposit Insurance. It truly is a Wonderful Life.
Seems like an attempt to prevent a run on the banks. Something big coming soon?
Actually, yes. There is a greater probability of a run on the banks than anything else, besides a disorderly currency collapse. I did a story about it before, its a very long story, but its there if you look at the details, but hey don't worry, everything is great.
Run on the banks? Log in, x-fer your account balance, leave $1.00 in.
The next run on the banks will be electronic. There will be no lines, no orderly dissolution. It will happen in hours, fueled by blogs, twitter, and word of mouth rumors.
Turbo Tax Tim prints "In God We Trust" on all of his legal tender. I dunno what God Tim trusts, but the gods I put my faith in don't give a damn if our economy collapses or soars. Their noodily appendages wave dismissively at faith-based currency.
"I dunno what God Tim trusts"
Mammon (not related to Michelle Caruso-Cabrera)
Anyone want to give odds on an electronic bank run being met with an "Internet Security Alert" where the damned terrorists who hate us for our freedoms are up to no good so we've gotta shut down the Internet?
Anyone want to give odds that this effort will morph into just another pristine example of "counterparty risk" associated with traditional paper assets whose value requires:
i got news for you - those terrorists operate
outside of langley, va...if you think al-qaeda
or any other goof in the middle east could pull
that stunt let me sell you my original signed
declaration of independence with margin notes
and reminder to thom to bring in a bundle of
fire wood before the weekend....
the so-called electronic run of 9/11/2008 which
fraudster kanjorski spoke about earlier this
year was an example of terrorism by said parties...
I'll buy that DoI copy, my puzzled friend.
I am not sure if you are merely a lunatic, or if you are a racist to boot. Well, I have some news for you which, like gravity, you might also find surprising: Arabs are not all <50 IQ miscreants like the members of your family. They know how to log in to email accounts, surf the web....they even know how to make a fire to cook their sheep. Underestimate them---both the majority good Arabs as well as the bad---at your own risk. And buy an airplane ticket and go visit someplace like Doha or Abu Dhabi or Dubai.
But what good is it to transfer your dollar digits from Bank A to Bank B when you don't trust the system anymore? In that case you'll want to collect the dollar banks at your bank. Those bills are worth more than the virtual digits you see in your bank account, but still worth a lot less than hard assets of course.
.
No shit,,
You are right again.... Get out of dollar denominated anything and everything NOW!!!!!!
Is it just me or does this look like amateur hour at the FDIC? These retards had one or two weeks to prepare for this landslide. Or did they just decide to pull the rip cord and throw the entire bunch out the back of the FDIC 747F Freighter at 30,000 feet?
Are these idiots making it up as they go along or do you think they're frantically thumbing through the pages of their high school text books looking to see how it was done during the S&L crisis?
"Bank Closing For Dummies"
about 20 seconds into the video...
'their insured deposits are absolutely safe'
Watch Sheila's head as she speaks these words - she's shaking her head side to side. That's classic body language for 'I'm lying my ass off'.
Exactly right.
Body language helps detectives in criminal cases.
Too bad the detectives won't touch this crime...
a freelance detective friend of mine has the following to offer...
body language analysis of sheila’s tilting head (fdic youtube version) – 2, 3, and/or 4 seems most applicable at this time.
Tilting
1. Tilting the head sideways can be a sign of interest, which may be in what is said or happening. It can also be a flirting signal as it says ‘I am interested in you!’
2. Tilting can similarly indicate curiosity, uncertainty or query, particularly if the head is pushed forward, as if the person was trying to look at the subject in a different way in the hope of seeing something new. The greater the tilt, the greater the uncertainty or the greater the intent to send this signal.
3. A tilted head pulled back tends to indicate suspicion, as the uncertainty of the tilt is combined with a defensive pulling back.
4. The tilted head exposes the carotid artery on the side of the neck and may be a sign of submission and feelings of vulnerability.
5. If the head is propped up by the hand, it may be tiredness or an expectation of continued interest (’This is so interesting!’).
Klonopin sucks. A healthy dose of percocet, hydrocodone and xanax then you're talking... not that I know or anything.
I do. 90mg of Marphine daily and have 2mg Diluadid as my personal shotgun. Her eyes and body drift say it...
I think the blue hairs will buy it.
You are right about that... it was designed for them...
I'm setting the line on the number of days it takes before this video garners 500,000 hits. I say 4 days or Tuesday 10-27-2009 at 9 PM.
Make it platinum Bobble Head Baby Doll Bair, make it platinum. I'm feeling lucky. Or at least luckier than those 7 banks.
I double that bet and say Wednesday @3:00pm eastern. Million eyeballs divided by two=500,000 hits.
I love you, the check is in the mail, and I wont *** in your mouth. Ooops.
Everything is tofu and tabby cats,, Alfred E. Newman>>> What, me worry??
No it's not Ooops,,, It's catch.
So let me get this straight.
Q.Why the need for all the reassurance???
A.Because ROUND 2 is about to begin !!
"Me thinks thou doth protest too much"
That Willie Shakspeare guy is still relevant.
I feel MUCH safer now.
My favorite line:
"We are the government and our insurance guarantee is backed by the full faith and credit of the United States government."
Can someone please explain how a nation who is mired in debt... both national debt and severe budget deficits... can you plausibly extend "credit" to anyone?
Sheila reminds me of a flight attendant giving the requisite seat belt/oxygen mask lecture at the beginning of a flight. From one woman to another... Sheila you are an embarrassment to women everywhere... a little more gravitas would be helpful next time you speak... and a cervical collar might help with that crazy head gyration.
Serving at the pleasure demands a level of loyalty that can be burdensome.. Yes? Nice rise up MnN!
BTW, there are no plausible explanations that I would be willing to actually believe.
Yep... I think they ran out of plausible explanations a long, long time ago :-)
the words, ",,,and no one ever will." reverberate as famous last words.
So, who do you think held the gun at her back for this performance, paulson( on consult ) or bernake? oops, i should have known, larry summers., the do all hatchet man.
larry is to barrack, what dick was to george.
If you followed her carefully after the tarp/treasury bonanza, she seemed very objecting to what took place, but, i am sure she had a good beating to show her how things must (mafia style) and to get in line with the privately held federal government machine.
but, but....larry is the smartest guy in the room, dontcha know?
MN,
Stop asking difficult questions and just watch the bobble head doll. You're getting sleepy. You're eyelids are getting heavy.
Sleep, sleep, sleep deeply and restfully. When you awaken, you will feel refreshed and alert and considerably poorer. Don't be concerned, this is a natural side effect of being fleeced in broad daylight.
rotflmao :-)
Would you like to see the elephant? heh
must buy treasury...bonds...*drool*...3.5% over ten years is a great deal....must buy kindles and read opacity of hope...burn copy of creature from jekyll...what...pyramid ...the eye...it KEEPS watching ME! *faint*
I liked the line that came after that.
"In short...we can never run out of money"
haha, what a joke
Yeah,
"...we can never run out of money"
- That scared the shit out of me.
Monday morning I'm going short the dollar and long green ink.
I'm gonna skin a buck and run a trot line.
A real man with a manageable plan.
Trout for lunch and venison steaks for supper.
...with some fine wine, ehh.
Most any kind of wine as long as the weather is nice enough to view the flowers at lunch and the moon after supper.
You guys are killing me. I haven't had fresh grilled trout in....forever.
Ohhh - thanks for that. I thought a trot line was from eating bad venison.
It was once said, afterall, that the best way to devalue a perfectly good peice of paper is to print a dead president on it..
me too, but sadly, i wish it was a spoof--it is the twilight zone that she actually said that...she should have added a few reallys behind her declarations to make the emphasis more like a good liar might, since what she was saying was such a boldface lie....but i still think larry s probably was holding a gun to her back.
Rusty, that is poetic. A+
OMFG...LMAO...MNnice (I lived most of my life in MN til I moved to Idaho, and that wasnt typical MN nice...lol)
I'm just sayin'...I mean, say what you REALLY think...LOL
withdrawing deposits is bad mmmmkay?
mmmmkay
I tried not to, but I failed.
"...and access to your money is seemless."
OH SHIT !
Why on earth did she say that cuz already thought it was. ;-)
That's also a big damn lie. Access to your money has more seems on it than terantula has hair. It's got computer seems. It's got armored truck seems. It's got the good old fractional reserve seems. If everyone takes away a couple trillion dollars of deposits it causes 60 or 70 trillion of debt to explode.
....."in short,we are the gov't,we can't run out of money"......The head bobbing and eye winking is a silly attempt at seduction,just imagine a fan blowing thru her hair as she does this...kinda like an old MTV video,but a little creepier
I think I just got sick... and not in the good way...
D.O.D., I just got the joke from the double meaning. That's funnier than hell, playa!
I'm no marketing expert, but that's a terrible "SuperCuts" commercial.
Jake Sky
is this suze ormann in disguise?
immediate access to loc? don't the bonds have to be sold first? won't the debt ceiling need to be raised as well?...
something most folks may not know is that many depositors from the s&l / keating 5 fiasco didn't get reimbursed by the fraud-fdic for years....this dumbass is another financial terrorist who should be guillotined...
That there was even a need to make this video is what scares the hell out of me.
look for increasing mattress sale figures....
Actually, have you seen the mattress stocks lately? I'd say they're on fire, but...
Idiots, how many times do I need to tell you? You hide your money in the mattress, not invest your money in a mattress company.
What the hell is wrong with you guys?
They don't understand the difference between the sack and the rack.
You may be in the sack.. but I'm in the rack...
Kinda like.. Hey baby, I'm going over seas, why don't you come across?
Spot on. Semantics baby, semantics is where the action is.
Fasten your seatbelts, it's going to be a bumpy night!
Uttered by Bette Davis playing Margo Channing in the 1950 classic, All About Eve.
she is a terrible liar.
at 0:24...notice what she is saying while subconsciously shaking her head "no".
when you have to be told that it's all good, it usually isn't...someone needs to put her up in a helecopter so that an accident can happen in mid air which no one can explain except as a freak event....
The functional equivalent of this video is the owner of a football team telling the public that he has complete faith in his head coach and wants him to be with the franchise for the next 3 years.
You can count on the coach being fired within 3 weeks.
After he fumbles the question,,,hey coach what went wrong out there?
or Alan Schwarz getting on cnbc 4 days before bear went belly up
+1
The smirk halfway through and illustration of bad body language throughout confirms this lady has no confidence going forward. I'm sure she knows what everyone else suspects.
Would you smirk or give a half smile when talking about your own house being foreclosed?
Silly.
Another topic Zero Hedge does not understand. Just like its remarks on the imminent collapse on the dollar which you now seem to be reversing course on.
Money can be created out of thin air to replace insured deposits lost in failed banks. And, it has no negative impact on the economy, the money supply the dollar or anything else. If the FDIC runs out of money, all the Fed needs to do is crank up the printing press to replace it with like money of the exact same value.
In other words, you don't need to vomit. You just need to learn more about topics you write about. Just like you did with the dollar.
i hope this was a poor attempt at sarcasm....
otherwise you are a complete dumbass....
I believe the "money out of thin air" is the reason we are contemplating bank failures to begin with.
No?
It's apparent we have people on here who have no concept of what money is. Because a bank fails doesn't mean insurance deposits should disappear. Printing replacement money for FDIC insured deposits adds no net new money to the money supply. More dumbasses who have no idea what they are talking about.
is that you gideon?
and other dumbasses who appear to have slept through accounting 101 where they were supposed to be learning double-entry bookkeeping
indeed you are a dumbass because i am talking about saving people's savings and you are talking about some boneheaded concept you learned in ninth grade. you'd let the system collapse because you are too stupid to figure out how to fix it. then you mock people for providing clearly do-able solutions. well, here you go dipshit. we'll settle your accounting problem since you are too stupid to figure it out yourself. the government can issue new debt for the fdic's fund. the fed then buys the dept and monetizes it. this then creates demand deposits for the treasury. the money is then available to cover the fdic funds without any new money being added to the system. the posters on here literally often seem to be completely clueless. which, btw, is why i generally don't come to zh anymore. the comments are often preposterous.
Brother Larry is that you?
The snark sounds familiar.
I get it! So if I deposit $1,000 to a bank, the bank then gives the $1,000 dollars to a hobo, becomes insolvent, and another $1,000 is magically printed to replace it, then no new money was created?
Then why fund it from bank assessments at all? Please include your newsletter subscription URL in the reply.
Is this Phil Gramm... if not then someone doesn't have a good grasp of the situation and I don't think it is ZeroHedge. Everyone here knows that money can be created out of 'thin air'... I think the United States government has that trick down pat. They problem is that the FDIC is supposed to be funded by the banks... not the US government... on second thought maybe this is Sheila since that is exactly what I would expect her level of understanding to be.
oh how i miss phil.....i think all of that talk
about pitch forks, hatchets, and a shortage
of rope might have skeert him off..
You are so nice...
I know Miles... its just me :-)
You and MsCreant have been hangin' out. I can tell. ;-)
A new ZH reader from Zimbabwe.
Everyone is just spot-on with the sarcasm this evening.... lol
We're all giddy with excitement. We thought 3, maybe 4 on the outside for Bank Failure Friday.
When it hit 7, I was tingling all over my body and my first thought was, I won't be needing the Viagra tonight baby.
CD,,
Why is that???? I find myself excited about the failure of everything.. I think I have it figured out..
I'm so sick of telling my friends/relatives about the coming doom, that when it happens, I can say,, I told you soooooo.,, On the whole they don't believe me,,
The consensus trance....
Poor fools,,
Geopol,
I think it's more along the lines of they can't (as in they are unwilling to) believe you. For if they did, they might have to actually do something about it. Starting with looking in the mirror and asking themselves why they allowed themselves to believe this horseshit for the past couple of decades.
In the face of a massive economic failure, they would have to face all the demons they've been reassured don't exist for all these years. Joe Blow has taken the softer easier way for years with the full backing of every authority center in the US. They allowed themselves to be seduced while they unlocked the front door and allowed the wholesale rape and looting of their property, family and self.
After you've participated in such a massive level of denial and lies for as long as the average American has, the shock to ones emotional stability would be too great if you just turned around and stopped. After a while, the lessor of the two evils is to stay in complete and utter denial and pray to God you either die first or everyone else goes down in flames at the same time and you're not alone in your shame and humiliation.
Art Cashin, in the video interview posted in ZH today, said that you would be surprised how many professional investment decisions are made in order not to look stupid. Why would we think the average Joe was any less susceptible to emotional games and denial than a professional is?
CD, An amazing and concise outline of the American condition.
I will cut and past for the archives...with your permission.. Thanks so much..
that could have been gideon himself....what have
we done to deserve such an august presence
in october?
.
Fight Club
Tyler,
Do you have any hit-men on speed dial ?, an Anon poster has just requested to get his face beat in.
What's rule #1 Rusty?
ohh shit, my bad.
Who says you can't clap with one hand! Your not-so-common sense is just so refreshing! No doubt you can take your logic and philosophy on the lecture circuit and make a mint in appearance fees. It'll be biscuits and gravy seven nights a week in your home!
Now that you "pointed out the obvious", which those ZH'ers can't quite figure, perhaps you'll lobby for raising the limit on insured deposits to, let's say, $1 billion instead of the soon to expire $250K. Why not? It's costless, right? No impact on the money supply or government obligations; just replacing something that no longer exists, right?
Hey, I've got an idea. Meet me tomorrow and we'll go to BAC and borrow a trillion dollars (they've got 11 percent of total US deposits, so they'd be the best place to shop.) Then we'll take the money and party like frat boys in Ft. Lauderdale on Spring Break. So we default. No harm done. Tim or Ben or Sheila justs gives BAC a quick trillion out of thin air and makes everyone good again.
Now THAT's how an economy should work.
that was creepy. is it possible post a posted video in your own youtube account, because i will start adding some really fun comments to her head bobbing creepy - its all OK everything is fine, no running, walk safely to the exits diatribe
At what point in time are we going to have to ask GS for a loan?
Drugs must be necessary to move up to the level in Govt to NOT VOMIT.
Please...
We all know that at least $600,000,000.00 is rinsed through Citi's management accounts every year. Why do you think we fuck over the Taliban,,, their religion doesn't like drug growing/poppy sales. Now that they are subdued, we can get the fields going again..
We all need to wake up,,, the war on drugs,,give me a break..
watch obama's war on frontline. will show you all you need to know about the drug trade in Afghanistan.
I think you missed the point
Ya,, I think it was late when I posted that,,,I was looking for the trigger word DRUGS and you provided it, and I went on a rant,, But it does flow to some degree,
So let me get this straight, each week, up until the last 3 "mystery" weeks the average bank clsures cost about $1B. Banks pre-pay $45B, which WE will pay for through higher fees. If we through in the loss-share agreements that means those losses will grow by about 60%, my figure based on WFC figures, Regions, and a host of other regional bank figures, there is no way $45B will hold the FDIC until the end of the year let alone until next year, period.
That $500B is useless until they raise the debt ceiling, which they will, but still until that happens forget about it. So, how will they cover the deposits? My guess is they will use intra-government loans which mysteriously get left off the public debt total or they will be granted special access to the Fed window or some other BS. Anyone else have any idea how to make money appear from nowhere when you are flat broker and your credit card is maxed out?? Seriously, anyone? I know they will, but I do not see an honest way of doing it. I am probably thinking too much ino it, but at the very least maybe I can find a new way to run my books...
I interpreted that as a bank holiday is imminent....
What say you? As i stash cash and weapons and whatnot
in my attic.
The basement,,, if the house burns down, that's the only thing the local fire department can save...
Sears Robuck safe @ 4000 degrees for four hours... should cover it.
that sorry sack of shit bitch ought to be ashamed of herself
but then again, she is one of our country's "leaders"
hahahhahahaahhahaahha
fucking crooks
"What family of narcotic sedatives are being used in this video?"
I'm thinking Percodan with a mojito chaser. She is a terrible liar. Can you imagine the Chinese watching this? Full faith and credit of what? If Hopey McChange and Bair let this place implode/hyperinflate, I imagine the Chinese are just going to send their best "touchless" assassins over and we'll start hearing about a lot of heart attacks and brain aneurysms.
Hopey McChange... love it... and I voted for him... sad as that is right now :-)
lol.... +1 on Hopey McChange
+878 billion (and counting) on Hopey Mac
No, I go for the hot lead enema... Chinese style..
Black and Decker funnel..
Fuck,, do you think that funnel is made here??
One of the biggies must be insolvent ..
only one?
CIT is definitely on the brink... Next week they have to make a decision so they might be clearing the decks this week for a bad upcoming Friday.
The Fed requires another financial crisis to stoke demand for $100+ billion treasuries/month. The only question is when.
Your right.. When? Just the right time...CIA clock.
It'll be NY NY like it was in 2001... I'm sick of this shit...
2 more bite the dust
This is too good. I had moved my accounts from one of these banks to a much more solid community bank in the area after some searching... TWO years ago. The former got a notice from the Fed a few months after I was out, and finally just now the FDIC closes it and hands over their deposits to - the bank I moved mine to. I just had to chuckle a bit.
Yee-haw! I used to have an account at one of these fine institutions as well!
aaaah, Stepford Wives.
Can I get you a cuppa cawfee?
No thanks.
At around 24 seconds into her speech, she says "I want to take this opportunity to reassure consumers that their insured deposits are absolutely safe."
Note the body language: As she is saying the above quote, she is shaking her head from side to side, indicating that she does not believe what she's saying.
http://www.eyesforlies.blogspot.com/2008/01/interpreting-body-language-h...
yep
(http://www.zerohedge.com/article/shelia-bair-addresses-worried-nation#co...)
My bad, faustian. You da man. -1 for me.
Here's a working clip of Hillary:
http://fox.com/blogs/faces_in_the_news/2009/01/23/more-head-shakes/
no probs...great minds, and all that.
there's that word ... consumer. forgive my french. sheila... i am a goddamn american and if you call us that again, fuck you.
The subtle use of the term consumer is so deceptive, a form of newspeak.
As a citizen, you have obligations to your country and yourself, including oversight of your leaders and your own affairs.
As a consumer, your only obligation is to belly up to the trough and mindlessly consumer. Go ahead and consume and leave the burden of responsible citizenship to us.
Fucking Nazi doublespeak bullshit. And for the most part, we fall for it.
got 2 more...wisconsin and minnesota...working our way through flyover.
betcha we get one in state of washington in a few hrs.
There are a couple of good candidates in Snohomish, King and Klickitat Counties...
Good work putting this post together.
Check out those loss ratios. Ouch
This developing story gains momo