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In Case There Was Any Confusion Just Who The Fed Works For...
Today, to little fanfare, the Fed announced a major binding settlement with the banks over robosigning and fraudclosure, which benefited the large banks, impaired the small ones (which is great: room for even more consolidation, and even more TBest-erTF, which benefits America's handful of remaining megabanks), and was nothing but one minor slap on the banking sector's consolidated wrist involving a laughable $3 billion cash payment. As part of the settlement, the US public is expected to ignore how much money the banks actually made in the primary and secondary market over the years courtesy of countless Linda Greens and robosigning abuses. A guess: the "settlement" represents an IRR of some 10,000% to 100,000% for the settling banks. We are confident once the details are ironed out, this will be an accurate range.
Yet what is most disturbing, or not at all, depending on one's level of naivete, is the response of Elijah Cummings, ranking member of the house Committee on Oversight and Government Reform. As a reminder, Congress had demanded that the settlement not be announced before there was a hearing on it. This did not even dent the Fed's plans to proceed with today's 11 am public announcement which can now not be revoked. It is Cummings' response which shows, yet again, just who is the true master of the Federal Reserve.
From The Committee on Oversight and Government Reform:
Today, Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, issued the following statement regarding the public announcement of a new settlement between the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board, and 10 mortgage servicers without first briefing the Oversight Committee as requested on a bipartisan basis last week:
“I am deeply disappointed that the OCC and the Federal Reserve finalized this settlement and effectively terminated the Independent Foreclosure Review process before providing Congress answers to serious questions about how this settlement amount was determined, who these funds will go to, and what will happen to other families who were abused by these mortgage servicing companies, but have not yet had their cases reviewed. I do not know what the rush was to make this settlement without answering these key questions, and although I look forward to obtaining information about how this deal may assist homeowners, I have serious concerns that this settlement may allow banks to skirt what they owe and sweep past abuses under the rug without determining the full harm borrowers have suffered.”
On Friday, Cummings and Oversight Committee Chairman Darrell Issa sent a bipartisan letter to Federal Reserve Chairman Ben Bernanke and Comptroller of the Currency Thomas Curry requesting a briefing before any new settlement was agreed to or announced publicly.
The statement concludes as follows:
In calls to the agencies this morning, agency officials stated that they
would not provide the briefing or answer additional questions before
going public with the announcement of the deal.
And that, folks, says it all, although it should not come as a surprise to anyone who has by now realized that the only goal the Fed has is to boost the Russell 2000 to new record highs, instead of giving any part of a rat's anatomy about the US public or the broader economy.
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Hang em all
The Federal Reserve Corporation is the Root of All Evil!
ANY crime and ONLY a fine!
It's the only economical thing to do.
It saves the taxpayers a bundle on the billion or so years they would otherwise be spending in prison if there was actually a functional Justice System in this country.
Where does one begin to describe how corrupt and fucked up our country has become? When leaders look the other way instead of leading, when corruption is rewarded dependng on how much you pay your important elected friends? Banana Republic. Putin is laughing at us. We are in the process of trading places with the old USSR. As they move towards market freedoms we move towards socialism. As they begin to reward hard work and initiative, we start to redistribute the rewards of hard workers to those without ambition. As our tax rates go up to sustain corrupt wage manipulation and inefficiant bloated government bureaucracy their rates stay at 13%. People who only take find life difficult. People who are productive are rewarded. Maybe Gerard Depardeau is onto something?
I've invented this metal spiky dildo-type thing on a chair that I call the "Bankers' Cum-Uppance". Should be popular once the revolution gets started!
Simple Scam: Banks dump bad loans on Fed -> Fed settles for peanuts -> Fed offsets mortgage losses against interest income on bonds -> Fed sends balance of bond interest (less operating costs) to US government. Net result: Fed just dumped bad loan costs on the US government (us).
The little people get jail time:
Closing Agent Jailed for Mortgage Fraud Crimeshttp://mortgagefraudblog.com/perp-walk/item/20455-story
Don't do the crime if you can't pay the fine.
Sad but true... can't understand where the junks could come from unless we have some banksters in our midst...
I get Junked all the time...I'm blaming the Bots, not my outrageous comments.
With shareholders money.
At the very least can we fire ewvery last one of these sons of bitches?????
you mean do the crime after you've calculated it nets you 1000% profit after the fine. Its called operating expenses.
"The Federal Reserve Corporation is the Root of All Evil!"
Not so fast. In spite of the widespread myth that the Fed is a closed private corporation acting on its own will, one shouldn't forget that 7 out of 12 voting FOMC members (including the chairman) - that is, majority - are members of the Board of Governors who are appointed by the president and confirmed by the Senate. It is therefore the government and the Senate who are de jure the decision makers. The fact, that those people are often corrupt, incompetent or frightened and are de facto the puppets in the hands of private bankers is certainly a big problem. But it is the widespread tolerance and not taking appropriate measures to avoid such a corrupt status quo what is the root of all evil.
FUCK THE FED!
Bernanke belongs in PRISON.
bernanke is the scripted face of the FED he's not the decesion maker. Neither is the board of govoners. Bernanke is our banker equivilant of Mahmood Ahmadinejiad. Our supereme leaders choose to stay anonymous.
Technically, according to the Coinage Act of 1792, as a counterfeiter, he deserves the death penalty.
FYI, It's very disrespectful to be talking about your owners like that. Especially in light of the Heroic efforts they have made to save their financial system from their own larceny.
Eloquently stated~
Thanks!
I forgot to add...
And make off like BANDITS in the process.
...slowly with piana wire!
No, American Indian style...bury them in the desert and poor blood on their heads.
I like the "stake them out on a fire-ant mound" better...
fire ants
If you're going to correct spelling and contribute not even a little humor GTFO and go back to trolling Drudge.
Planning on cutting the body up and placing it upon two or more mounds are you?
It's Fire Ant or, Fire Ants or, Fire Ant Mound or, Fire Ant Mounds...take your pick.
They will continue doing what they're doing until it's hazardous to their health.
Tuff fuck us al, they WIN!
They won. They won it, again.
Those who pay, suffer, those who PRINT, RULE, bitchezz!!
When you go to bed at night, curse those assholes. IT wouldn't hurt.
Just how long is this in-your-face bullshit going to keep up!? I don't have any skin in this "settlement", (other than one of the taxpayers paying for it), but I do have a seat in the theater of the absurd watching the open fraud, crime, lying, cronyism, unaccountability, bribery, and all the other sleaze bag shit that goes down with the bankster cartel/thieves and our phoney, incompetent so called government. The day is not down the road too far when finally, "Justice will be served" on ALL of these traitorist conspirators. It just can't get here fast enough for me.
The closest we've been to breaking the camel's back was in Wisconsin last year. There were 100,000 pissed off people, not just at Walker but at this type crap as well, they were only a few miles from 3 tv stations, but the fake leaders lik e Michael Moore and John Nichols told the crowd to calm down and wait for the recall vote- which got fixed and those fuckers were silent!
In one hour we could have had three tv stations surrounded with 100,000 patriots! damn phonies are worse than the cops. Rotten tomato their asses next time they tell you to wait for a vote.
More of the same.
Who run Bartertown?
http://static.winningateverything.com/files/2012/01/WA_loveblind.jpg
Bust a deal, face the wheel.
Of course the wheel has "spin again" on it.
And the bankruptcy slots are replaced with "taxpayer bailout"...
We are talking about Wheel of Fortune...right?
Rent Mad Max Beyond Thunderdome and you will see the wheel, Bartertown, and the Thunderdome (2 men enter, 1 man leaves).
Congress couldnt find it's ass with both hands so nothing really lost there.
"I have serious concerns that this settlement may allow banks to skirt what they owe and sweep past abuses under the rug without determining the full harm borrowers have suffered."
So do something. You are in a position of power and authority. Instead of being shocked, shocked I tell you, how about you earn your salary and do something.
Oh wait, you got me.
@ fuu,
"how about you earn your salary and do something." Why? I see you haven't read my prior posts. Because they're all CRIMINALS and are compromised, bought, sold and are all "in on it."
The Banksters have hijacked the world's Goverments and Criminal Politicians through Intelligence Operations, blackmail, racketering, murder, drugs, espionage, human trafficing, PsyOp, Flase Flags and funding/arming of terror organizations which they claim to be protecting us from.
The stage is set for complete, total full spectrum World domination from The Global Elite. Understand the core reason these Criminals continue to rape, pillage and steal wealth is though Illusion/Cover. We are not THE UNITED STATES but we are The United States of America. It is not The Constitution of The United States, it is The Constitution For The United States of America. Notice the difference. Do you see the Cover/Illusion.
These Criminals have been hiding behind the Corportate version of The Constituiton. Get it? That's the Cover and the reason behind their Crimes Against Humanity and The American People. Ask yourselves, why CIA propaganda, misinfomation/disinfomation is so good? Because it works. And the Elite own the media and have it staffed with their CIA agents/Council of Foreign Relation stooges like Andersen Cooper and Dianne Sawyer. The PsyOp runs deep, very deep.
The American people can continue to stay divided and blame the puppets Obama/Bush. Like they have any say in the matter. Both parties are the same sides of the same coin, bought and paid for a long time ago by The Elite Orligarchs. These Criminals sold their souls long ago.
So, continue to follow their lies, cover stories and false narratives such as Osama Bin Laden. A convenient CIA funded and trained Operative, code name Tim Osman. Sorry, But I digress.
Divide and Conquer. That's the Elite's game.
Total Complete Full Spectrum World Domination. Via The City of London. The financial location of The Banksters, which Wall Street is just an extension. They own the Military, Media and have put forth hundreds of years worth of planning to complete their goals of the aforementioned.
It began with The Fascist Patriot Act which morphed into The Military Commissions Act, John Warner Defense Act, NDAA, PD51, Torture, Illegal Wire Tapping etc..etc... You get the picture? We're dealing with pure Evil, which cannot be reasoned or negotiated with. Their goal was to break the sovereignty of The United States along with our good men and women of the Military while simultaneously ushering in their NWO protective force of Their Global Military/Police Force to protect their Corrupt system/Crimes Against Humanity. We're just their Debt Slaves. Divided and Conquered.
Hey Chup, I'm inviting you over for Easter. Just be prepared for many a blank stare
Compare the following headlines:
Men get six months in jail for stealing food from trash
Jail time for taking food from trash ‘ridiculous,’ Hieb says The men admitted that they jumped a fence and took fruits and vegetables from the garbage area at Sweet Pea. They originally were charged with felony second-degree burglary and misdemeanor theft. They accepted the plea agreement offered by Assistant District Attorney Kerry St. James, they said, because they did not want to risk being convicted of a felony. http://media.steamboatpilot.com/drudge/food.html _____________________________________________________________ HSBC to pay $1.9 billion U.S. fine in money-laundering case HSBC's record $1.9bn fine preferable to prosecution, US authorities insist http://www.guardian.co.uk/business/2012/dec/11/hsbc-fine-prosecution-mon...So now the taxpayers will supply these guys with a roof, heat, toilet and meals for six months. Wouldn't it be cheaper, and in the interest of Justice, just to give them an EBT card?
And while we're at it, senence the HSBC executives to (at least) six months of homelessness.
The more I think about a criminal sentence to homelessness, the more I like it. Break a law and the sentence doubles. No friends bringing food, no Chablis, no heat, no cellphone, no car, sleeping on a piece of cardboard behind a dumpster, washing up in the morning in a gas station bathroom, carrying everything you own in a backpack, washing your other underwear in a bathroom sink.
Corzine is walking around free...go figure...
"In Fiat We Trust"
In fraud and Scams we trust.
If you presented the true story as a "National Treasure" type of screenplay, people would dismiss the true story of the Creature from Jekyll Island as over-blown, unbelievable fiction.
So who went to jail for this fraud? Nobody!
If I lost my papers, when back and recreated them and had the gardener sign the papers and back date them, then went to court I would have been prosecuted for presentation of fraudulent documents.
The criminals just keep pushing their power. From no doc loans and junk rated as AAA to swindling money. Anything goes as long as you have connections to the house and senate.
I am about half way through "Predator Nation". I read til 1:00 am this morning as I could not put the book down. Finally, I had to get to sleep, but it would not happen. I was soooo fucking pissed I laid there thinking of how to kill these fucks. Google Jimmy Cayne. Cocksucker
Don't cooperate with government in any way, reject their governance and your citizenry. You are a human, and so are they, that's it.
they are still just a bunch of undead assholes. mortgage originations will be in the toilet unless rates keep falling. whatever morts they hold are crap. auto loans don't pay diddly. treasurys, ha!
wait for it....wait for it...ok, here u go....
NOTHING WILL CHANGE UNTIL THE SOCIOPATH BANKERS WHO ARE THE REAL GOVERNMENT ARE EITHER DEAD OR BANISHED...
and now for your reading pleasure more propaganda courtesy the money changers and their controlled main stream minisitries of propaganda...
http://www.marketwatch.com/story/golds-dilemma-in-2013-2013-01-07
“Every effort has been made by the Federal Reserve Board to conceal its powers, but the truth is the FED has usurped the government. It controls everything here (in Congress) and controls all our foreign relations. It makes and breaks governments at will… When the FED was passed, the people of the United States did not perceive that a world system was being set up here… A super-state controlled by international bankers, and international industrialists acting together to enslave the world for their own pleasure!” – Rep. Louis T. McFadden
"The few who understand the system, will either be so interested in its profits, or so dependent on its favors that there will be no opposition from that class, while on the other hand, the great body of people, mentally incapable of comprehending the tremendous advantages...will bear its burden without complaint, and perhaps without suspecting that the system is inimical to their best interests." -- Rothschild Brothers of London communique' to associates in New York June 25, 1863
@ Kaiser Sousa,
On 29 April 1945, the bodies of Mussolini, Petacci, and the other executed Fascists were loaded into a moving van and trucked south to Milan. There, at 3:00 am, they were dumped on the ground in the old Piazzale Loreto. The piazza had been renamed "Piazza Quindici Martiri" in honor of 15 anti-Fascists recently executed there.[122]
After being shot, kicked, and spat upon, the bodies were hung upside down on meathooks from the roof of an Esso gas station. The bodies were then stoned by civilians from below. This was done both to discourage any Fascists from continuing the fight and as an act of revenge for the hanging of many partisans in the same place by Axis authorities. The corpse of the deposed leader became subject to ridicule and abuse. Fascist loyalist Achille Starace was captured and sentenced to death and then taken to the Piazzale Loreto and shown the body of Mussolini. Starace, who once said of Mussolini "He is a god,"[123] saluted what was left of his leader just before he was shot. The body of Starace was subsequently strung up next to the body of Mussolini.
There is NO doubt, hypothetically speaking in my mind that the four individuals in the above picture will be hung upside down alive in public square for all the world to see and have their throats slit, so that they may drown in their own BLOOD!!!
that day will be a most blessed day and is long over due...thanks and may i offer this to you who knows and moreso for others still in the darkness of ignorance -
—Sir Josiah Stamp, president of the Rothschild Bank of England and the second richest man in Britain in the 1920s, speaking at the University of Texas in 1927.
That is an amazing quote isn't it? And on the subject of Banks and Banking; we've been discussing here on Zero Hedge about the Basel III reserve requirements; especially that they might elevate Gold to a tier one asset; well the anouncement is out; and they didn't elevate gold to a tier one asset. But they said "some equities, (stocks)" and "Morgage Backed Securities" would be tier one reserves. Mortgage Backed Securities? hello, haven't we been here before? Personally, I was amazed. apparently all problems have vanished and everything will be fine forever. I'll be darned.
“The Federal Reserve banks are one of the most corrupt institutions the world has ever seen. There is not a man within the sound of my voice who does not know that this nation is run by the International Jewish bankers.” – Congressman Louis T. McFadden (Rep. Pa)
“The International bankers rule the world through debt, which is money they create out of nothing. They need world government to ensure no country defaults or tries to overthrow them. As long as private bankers, instead of governments, create money the human race is doomed. These bankers and their allies have bought everything and everyone.” – Henry Makow
“The one aim of these Jewish financiers is world control by the creation of inextinguishable debts.”
– Henry Ford
“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and it’s issuance”.
— James Madison
“I care not what puppet is placed on the throne of England to rule the Empire, …The man that controls Britain’s money supply controls the British Empire. And I control the money supply.
- Baron Nathan Mayer Rothschild, 1815
“Banking institutions are more dangerous to our liberties than standing armies.” – Thomas Jefferson
“You are a den of vipers and thieves. I intend to rout you out, and by the Eternal God, I will rout you out. If the American people only understood the rank injustice of our money and banking system, there would be a REVOLUTION before morning.” – Andrew Jackson
‘The Great Depression resulting from the Stock Market crash) was not accidental. It was a carefully contrived occurrence….The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all.’
- Louis McFadden
“My concern about the legislation is that if the GAO is auditing not only the operational aspects of our programs and details or the programs, but is making judgments about our policy decisions, that would effectively be a takeover of monetary policy by the Congress; a repudiation of the independence of the Federal Reserve which would be highly destructive to the stability of the financial system, the dollar and our national economic situation.”
- Ben Bernanke
“Well, first of all, the Federal Reserve is an independent agency and that means, basically, that there is no other agency of government which can overrule actions that we take.”
- Alan Greenspan
Robert H. Hemphill, Credit Manager of the Federal Reserve Bank of Atlanta Georgia:
"This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defect remedied very soon."
Whenever I hear a claim that something is "antisemitic" - I first wonder 'well, is it true or false' and then I wonder - just what inconvnient facts about jewish power and or double standards is this meant to hide?
Then I go back to watching football - because fuck this country and its inability to learn from history.
control of media, control of banking, and control of government = control of history.
You know what, despite the obvious truth of all that, in the next thread there will be 15 gutless dupes and zionists who will take exception to any suggestion at all that the Jews are behaving like a pack of murdering stealing scumbags who are more than willing to kill everyone in any country to maintain the financial power in amereeka.
There is only one valid class of targets to go after to lift the globalist madness - nothing else is a valid target.
And any little zionist sympathiser scumbag in some wretched little govt agency taking notes can go fuck themselves. Truth and free speech will not be taking a backseat to any one.
MBS? ... do they even know who has a claim in them? ... actually ... never mind
The Tyler of his day.
There is an incredible amount of terrible opinion pieces on TV and the internet. All the know nothings have gone so bearish on gold. When I look at it, I see it about to ding 1800 again.
Who does number 2 work for?
Satan
The reason they make settlements (agreements to split profits from fraud more or less) before consulting the public representatives and or discussing the details in a public way is that they don't really give a rats ass what you think since you lack the power or balls to do anything about it.
Worst case if some representatives won't shut up about it or wont take a bribe to shut up they will just "dispose of the useless water-container" and that will be the end of it.
The only way anyone is even going to remotely give a crap is if some nut job takes the law into his or her own hands =/ vigilantism , the only real rule of law left in America at this time.
You have a president who wants to be emperor :(H.J.Res.15)
You have a congress too scared or dumb to act.
You have a public completely brain-washed by credit cards and commercials.
You have a Government that promotes dependency and poverty so that they can keep their jobs as "wealth re-distributors" so that they can "re-distribute the bulk of the wealth to themselves while handing out pennies to the public that got them into office!
You have state governments that have become completely dependent on federal funds just to operate on basic levels (utilities, public transportation and government worker "benefits")
Welcome to America, where you get all the "benefits" that you don't want or need at your own expense at gun point, o and just in-case you were thinking of leaving, they made sure through economic terrorism that every other country is just as fucked as America if not worst (currency wars).
Welcome to 2013, its gona be a wild ride, might I suggest you buckle up and hold your nuts less the G-Force from the government "thrusting" detach them violently.
Sad to say but I can't disagree with anything you just said!
Meanwhile in reality land, Cummings is overjoyed at this development as now he is free to act as badass as he wants... after the fact.
He keeps a tough, do-gooder facade, while the banksters escape punishment.
In other words, a political WIN-WIN!
Excellent rant wolf, thanks, I needed that... (-:
Wolf,
You nailed it.
Well, they can still have a hearing and now it would be even more interesting...
And XLF continues to the moon...long live the Rothschilds!
So do something about it then...people have been talking for years, all beside themselves and whatnot. That does no good.
Fixed it for you.
Welcome to the Federal Collectivist Empire.
Crime pays as long as you are a bankster
Time to deposit that Trillion Dollar Plutonium coin at the Reserve office.
Do you mean the Trillion Dollar Platinum Coins that are 100% pure platinum (not electroplated on tungsten) and are protected from audit assaying by an act of Congress under which penalty to touch or inspect the coins is DEATH?
The ones that have imprinted upon them "We don't trust in your thieving fictitious God anymore" ?
Those platinum coins?
well no, I did mean to suggest plutonium as it is quite rare and when handled properly capable of immense rehypothication.
In that case I hope your critical mass calculations are spot-on or we could experience an extremely hot hyperinflationary event.
intersting concept...use a radioactive coin with a half life of just a few years...issue 200 of them in trillion dollar form..seal ina vault...open in a few years and voila..the debt is gone!
Keep the idiot Arabs, Chinese and South Americans pacified long enough to hold US fiat dollars.
Meanwhile Bernanke, the Federal Reserve and member banksters keep printing.
And he will roll over like a good boy
Must be watching lots of porn up there at the Fed, like SEC, can't be bothered with prosecuting anyone, porn is much more fun.
God bless the internet. Finding quality porn used to take real effort.
Terrorist crooks the bunch of them.
Hope somebody bought the dip with me. This is fun.
... will this agreement now allow the banks to clear out their foreclosure backlog?
No.
Not until Linda Green mark II is fully up to speed with both hands.
LOL. Fair enough Winston, but lots of gains between here and there.
or they get hold of and modify the chinese printing presses used by the fed
It's sad to see how dumb Americans are not to see how they are getting screwed everytime some government agency renders a judgement against one of the major banks.
First the "Bank"gets off with a slap on the wrist, and are ordered to pay a fine to the prosecuting agency, whether the SEC, FED, FINRA, whatever. Nobody that committed the fraud at the "Bank" has to pay one cent.
The "Bank" doesn't have any money, they get any money they have left over from the profits of doing business. And all that money comes from the Stupid Americans, that pay for services at the "Bank" and then the "Bank" takes that money and uses it to pay the fines the government imposes.
And that is nothing more than an additional tax on the American people, plain and simple.
And the average Stupid American sits back and cheers that the the "Bank" was prosecuted and fined. And the politicians parade themselves out and pat themselves on the back for a job well done.
Agreed. And the most enraging part, besides the bullshit slap-on-the-wrist "fines" is the lack of investigation, JAIL TIME for the crimes committed or CLAWBACKS.
"The man in the street does not notice the devil even when the devil is holding him by the throat."—Johann von Goethe
And the American ppl have guns....
Fucking use them against these scum.
well said, the officers resposible for the scams should be thrown in jail and their assets seized
Keep ignoring the Constitution... get the same results.
Haven't you heard? Constitutions are sooo 18th century.... archaic really. http://www.nytimes.com/2012/12/31/opinion/lets-give-up-on-the-constituti... P.S.- BTFD
Dear Sheeple,
Keep fighting amongst yourselves over gay marriage, welfare, and the scraps we let you have while we pillage the real wealth of the country.
Sincerly,
A banker
-b + w
there, fixed it for you
Not surprising in the least, disappointing at the best. In a nutshell, the OCC issued a consent order to the 14 banksters that they would fund an independent review of the homeowners they screwed. The wheels on this bus started falling off immediately as these banksters, who realized their victims had moved long ago as they evicted them, used only direct mail (to the addresses of the foreclosed) to inform them of the requirement that they file for the "review".
Since forwarding orders with the PO expire after 1 year, many of these notices were returned and went into the circular file. No Radio, TV, Internet advertising was conducted, reportedly because it would attract the "wrong people".
Then, for the 330,000 some-odd (including myself) who filed for a review, the banksters hired only those companies "in their pockets" to conduct reviews. Reportedly when even then they discovered a great deal of malfeasance, they sought to reduce the number of questions from 2200 to about 550, disregarding violations of state law, unless the review request "specifically cited" the law the requested believed to have been broken (although the filing questionaire said nothing to this effect). The OCC went along with all this.
So to no one's surprise, the very day before checks should have started being cut under this "consent order", they totally pulled the plug on this program.
I for one, would like some answers on how we 330,000 who gathered our paperwork and pro se knowledge (in unvoluntarily being forced into this debacle by being lied to, cheated on, and generally treated like dirt by Chase in my case), will be compensated for the hours of work devoted to requesting the reviews which will now also be moved to the "round file". Or perhaps these bastard bankers will save our filings to be used against us should any have the temerity to actually file a lawsuit.
This is the state of justice in America in 2013.
Actually they had reason to find them.
Part of the docs to submit a review relieved you of your rights for other recourse outside
the review award.Talk about signing a blank check.....
hats off to you for your effort..you woudl think there would be some pro bono going on here and a massive class action for you and your 330,000
All that has hapened is an "ANNOUNCEMENT".
Where is the money coming from,(Whose printing press).
Where is the money going, (deficit reduction, duhhh)?
Sometime I wonder if this is the new normal or not. It may just be normal, that is has always been this corrupt, and that we just happen to know about it is the only thing that seems "different." Not that it is okay, but I wonder if it is even preventable.
From my experience its always been this corrupt.
The scale, and blatant in your face of it now, is new.
It's just like the lawn, you keep mowing it down and it behaves. Might need a scythe this time though, the renters just let it grow.
Take Bernanke, Dimon, Blankfien and all of their ilk...and KILL THEM ALL.
That's if you want anything to change. Otherwise, just continue with more of the same...
I remember posing the idea months ago that buying BAC ($8 at the time) was a good idea since they touch the money first and thus get full purchasing power, pocket the commission on bond sales, FED buying MBS, have inside info, inflated home prices cleaning up the balance sheets, etc. People here said I was nuts. I still think they're buys for the next few years, but have diversified into XLF (BAC got ahead of itself). If you're mad about the FED robbing you, buy the banks, because that's where the money is going.
I know dissent or counter-views aren't welcome, so let the thumb downs begin!
only 5 up arrows so far..have you ever thought of forming a hedge fund?
Legistlative process?
The law?
Government accountability?
Checks & Balances?
LMFAO4EVR
Who are the other morons? The shit-eating money-stealing grin of the vampire squid-fuck doing "God's work" I know, But I don't know about red tie, blue tie or maroon tie.
the red tie moron is Ken Lewis , formerly of Bank of America.....and the man who bought Countrywide and Merrill Lynch
I thought that mug looked familiar. Kenny boy - who paid way more than mini-bar prices for Bank of Countrywide-Lynch. Thanks for the info.
"A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murderer is less to fear. The traitor is the plague."-Cicero
Cicero, Romans, Countrymen: If you cannot shout or utter that Enemy's secret name in the Market, lest you not thrive or survive, then to what avail your stoic prose?
Shall we not resist in equal or superior cunning, guile and stealth, and shall we not struggle and fight? And risk life, limb, health and wealth?
-The Bart.
i'm pretty sure that in the corridors of power, ZH is considered thus.
Apparently this hft algo guy turned a nice profit of paper to turn back into physical:
stateside
Nautilus investor Bailey makes hostile takeover bid
2013-01-07 14:53 ET - News Release
An anonymous director of Gannibal Securities reports
FINANCIAL PRESS: OTTAWA TRADER MAKES HOSTILE TAKEOVER BID FOR NAUTILUS MINERALS
Michael Bailey and his family office solely controlled by him have commenced a tender offer for all outstanding shares of common stock of Nautilus Minerals Ltd. for 97 cents per share, net to the seller in cash.
Under the terms of the tender offer, the family office controlled solely by Mr. Bailey will commence a hostile all-cash bid to purchase all the outstanding shares of Nautilus Minerals Ltd. for 97 cents per share for a total purchase price of $237.99-million. This represents a 209-per-cent premium to the previous-day closing price of Nautilus's stock.
The tender offer is scheduled to expire at 12 a.m. Eastern Standard Time on March 1, 2013, unless the tender offer is extended. The tender offer is conditioned on the tender of a majority of Nautilus's shares calculated on a fully diluted basis, as well as the receipt of certain regulatory approvals and other customary closing conditions.
Gannibal Securities has been engaged to act as adviser in this transaction, and will negotiate lock-up agreements with major Nautilus Minerals shareholders Metalloinvest (21 per cent), Anglo American (11.1 per cent), MB Resources (16.9 per cent) and Teck Resources (4.5 per cent). The law offices of Faskin Martineau, a national law firm, will represent Mr. Bailey in this transaction.
The family office controlled solely by Mr. Bailey currently owns a minority stake in the company, and is now making a hostile bid to acquire 100 per cent of the outstanding company stock with the intention of taking the company private to finance and execute the underwater mining business plan. Mr. Bailey, an experienced investor and resident of Canada, is an algorithmic trader and formerly a member of the Band of Scoundrels, an elite group of high-frequency proprietary traders that successfully shorted Citigroup and profited over $130-million in October, 2008.
The acquisition is expected to close during the first quarter of calendar year 2013; however, the close date is subject to customary closing conditions, including regulatory review in Canada.
Yes! This is awesome. He is taking it private, out of the hands of the moronic orc public, to actually do something useful with it. I hope he builds an underwater nuclear sub base and annihilates all orc infested coastal suburbs!
Quite the ungrateful lot you all are. If it wasn't for the fast and bold actions of the fed from 2008-present, and the cooperation, sacrifice and hard work of these banks, we would still be in Great Depression 2.0 right now. The banks were kind enough to cooperate, and reform their systems, making the systems more "dummy proof" - for the dumb cattle.
Cough... cough..
Wild Billy D and a bit of financial history -
http://www.bibliotecapleyades.net/sociopolitica/world_order/WorldCh05.htm
Seeing that We The Sheeple are not doing anything about it either... More green grass of Hopium and cool waters of Kool Aid for sheep and 100% patriots, please.
It is a true shame that our nation has to this with our leaders being nothing more then lap dogs (I am being too kind) for the TBTF. But you can already see cracks in this system, and sooner or later it will fail.
Brothers and sisters:
much of the articles here and the comments fail to bear in mind an essential point.
The Fed, the Banks, the closed Jewish shop constituting thr federal oversight agencies...
THEY ARE BANKRUPTING THE COUNTRY AND DESTROYING THE CURRENCY ON PURPOSE.
Once you understand it's not stupidity or incompetence, but design, and once you appreciate that the best thing about war for banks is the debt is creates, then the better you will understand how little to do with 'solutions' is anything going on in Washington.
We're riding this for the bottom. It is largely run by 'international elites' - they are coming for your guns and putting DHs on the streets, they are coming after the internet, and prices and taxes will go up as dissenters are sent to Hope Camps.
Just because you're paranoid, don't mean they're not after you...
"Resistance is futile. Arguments are irrelevant. Prepare to be assimilated."
- The (Gold)Borg.
>;)/,
just because you are able to point the finger at a particualr group of people, doesn't mean you shouldn't stand on your own two feet
In my work, I always try to clearly define the problem before I begin work on any assignment. Since it seems we know the problem, what do we do now to move forward and solve the problem?
Keep believing in the value of "justice system," which is nothing but an elaborate simulacrum designed to convince credulous sheep that there is an even playing field and consequences for actions. In reality your laws are nothing but worthless fiat scrip written by your true masters. When it is no longer convenient to uphold these promises, the laws are simply changed, or ignored, and there is nothing you can legally do about it - a fact which only a damned fool could think to be a coincidence - because in addition to the courts, your masters also control the armed forces and police, who, obviously can do whatever they please, because the laws governing them, like all the other laws, might just as well not exist.
Good luck forcing the guy who by definition has the most conceivable economic, political, and military power (limited by nothing but imagination and the laws of physics) to obey his own rules.
WATCH and be unamazed as, for its next spectacular trick, the American populace will now surrender its most effective means of self-protection (no, not that piece of two-ply toilet paper called the Constitution) from all threats foreign and domestic - its firearms - into the waiting hands of that great benign benefactor known as the State, in an act of INFINITE **********ing CREDULITY.
(Riddle me this, Average American, exactly what good is some longwinded text in a leatherbound law-book, or a cop en-route from five minutes away, or all the prosecuting attorneys in the entire world, when you're staring down the barrel of a loaded gun?)
To all investors, your wakeup call came when the bankers came for the savers. What makes you think that would have satisfied them?
And, still, there exist some Americans who believe there is representative government.
This is the most blatant example yet demonstrating the complete worthlessness of the U.S. Congress. And the terrible tyranny we find ourselves living under.
There will be no media outcry, of course, because they are supporters of the tyranny. But there is Zero Hedge. The hope is the identification of the totalitarian control and the need for Americans to revolt against this system before it is too late.
"The statement concludes as follows:
Humor me here, I have a confusion: Was the "statement" conclusion given by the Ovrsight Committee staff, or by a Fed/OCC agency staff?
The article's immediately preceeding text was the Oversight Committee's, or interpreted as such.
I know it's hard to believe, but it was the Oversight Committee; perhaps these toadies should find themselves another name.
i see Jewish people .............
off with their heads....
head of the fed - JEWISH
head of half of the fed regional banks - JEWISH
head of the sec - JEWISH
head of the cftc - JEWISH
head of the fdic - JEWISH
head of the office of budget and management - JEWISH
head of the cbo - JEWISH
head of the national economic council - JEWISH
head of the council of economic advisors - JEWISH
chief of staff to the president - JEWISH
chief counsel to the president - JEWISH
head of the IRS - until recently - JEWISH
Yet suggesting there seems to be a preponderence of Jews in banking and finance is an 'anti-semitic' canard?
People must be terrified of being called an anti-semite. Even ZH wouldn't dare print an article to note that 2% of the population runs the show... the folks behind both parties, it turns out.
Remember - affirmative action is good and necessary to make the pool reflective of America, but as with deposing foreign regimes for 'war crimes' - this lofty notion simply doesn't apply to the Jews.
Cute.
http://en.wikipedia.org/wiki/List_of_United_States_federal_agencies
At what point can we talk about a Zionist Occupation Government and banking elite siphoning off the country's blood and treasure just like all the "canards" going back to the 5th century BCE?
Maybe there's something to the fucking shit, no?
Well, if you think of the shiny Three-sided Triangle that tops the US Pyramid on FDR Notes, then you've covered only two sides of it - those of Power and Wealth.
You seem to have omitted the third side: Influence (education, media, entertainment). Since these have a very diverse demographic set of non- Jewish leaders, your hypothesis seems to fall short. And is not... Kosher.
p.s. As a matter of policy and whim, I do not always indicate whether my txt is serious, ironic or surreal satire (Python-esque), and leave that to the reader to decide.
That's ok, we'll just resume the worst.
Have a look at the credits of almost any moovee and its pretty clear who's making that stuff, same broadway, same the old-normal newspaper genre. It's hardly a secret.
Coward. That may or may not be my opinion.
Rabbi Menachem Mendel Schneersohn - Until Recently, Head of the Chabad-Lubavitch Hasidic movement.
Geez, looks like the Jews are starting to take over the Synagogues as well.
Who knew? Oy!
And what is called persecution of the Jews, in many instances, is reaction to the revolutionary actions of the Jews, as in the Jewish participation in Cyprus during the Second Century when 240,000 Greeks were slain and in Eastern Europe in the 1920s and 1930s when millions died under the iron fist of the Jewish-financed Bolshevik Revolution.
Edward Gibbon in The Decline and Fall of the Roman Empire, Volume I, writes, “Humanity is shocked at the recital of the horrid cruelties which they [the Jews] committed in the cities of Egypt, of Cyprus, and of Cyrene, where they dwelt in treacherous friendship with the unsuspecting natives,” referencing Dion Cassius, a Roman consul and noted historian who lived from 150 to 235 A.D. “In Cyrene they massacred 220,000 Greeks; in Cyprus 240,000; in Egypt a very great multitude. Many of these unhappy victims were sawn asunder…" and worse…
And, now New York University Professor Nouriel Roubini (former senior advisor to Timothy Geithner and past practicing economist at the International Monetary Fund (IMF), the Federal Reserve, World Bank, and Bank of Israel and business associate of Larry Summers), tells Americans they must “maintain a basic welfare state, which is right and necessary in our age of globalisation, rapid technological change and demographic pressure” by financing his and his associates' dream of universal socialism, translating into “higher taxes for the middle class as well as for the rich.”
The negative impact of a government on a person is inversely related to the wealth and connections of that person. Try RISING ABOVE that!
A geeky way of rephrasing The Golden Rule: "He with the gold, rules".
:-)
Where is the leader, that breaks the power of the banks? Rhetorical question.....divide et impera. That's where we are with our political system. TBTF to be not TBTF would result in a civil war. The bankers are aware of this and play their game. Ordinary people have to accept this as a fact. Nothing will change unless a massive ammount of people are starving. Being hostage of the banks is nothing new. In fact is has been so for centuries.
http://www.shtfplan.com/headline-news/outrage-bank-of-america-freezes-fu...we-believe-you-should-not-be-selling-guns-on-the-internet_01072013
"And remember, where you have a concentration of power in a few hands, all too frequently men with the mentality of gangsters get control. History has proven that."
"The issue which has swept down the centuries and which will have to be fought sooner or later is the people versus the banks." AND THEY KNOW IT.
John Dalberg Lord Acton
the government works for the banksters,
the workers are employees to do the will
of the systemically essential financial
noose squad, here a song about it.
the second link contains some very important
information concerning gmo, tumors ..etc.,
and your food. russia banned the junk,
america loves it ! go figure , oh yea,
the banksters and wall st. fools again.
.
Comedian makes fun of Government Spending Tim Hawkins "Will make you Laugh
http://www.youtube.com/watch?v=f3zLvLwXuTk
.
Gary Null - The Natural Living Show
Monday January 7 12:00pm
1 hour
http://archive.wbai.org/
.
it appears homicide is perfectly legal when
the rich do it to the poor or "middle class".
fraud too. catherine a. fittz talks about that,
it is a problem. madeline not too bright talked
about it. etc ... and what about that navy seal
who just offed himself with a wife and 9 year old
daughter. 42 years old. the media mentioned this
for perhaps a nano-second. the government went on
like nothing happened. i get that. nothing happened.
no story, no explaination, no inquiry of note;
nothing.
this thing is going down under it's own weight.
it appears that "civilisation" has become nothing more than a
virtual shit show, not just a regular shit show but
a cruel and deluded one.
.
Navy SEALs commander commits suicide in Afghanistan
Published: 24 December, 2012, 22:49
http://rt.com/usa/news/navy-commander-suicide-us-758/
.
reported on Christmas eve and then dropped like a stone.
My father had it right many years ago:
Son, the American system is more enduring than the Communist system. The former has visible public opinion and an invisible government, whereas the latter (the communists) have it 'bass acwkards'.
You see, in an 'open' system with a shadow or secret government, The (Machiavellian) 'Prince' must always know what his subjects are thinking and planning, but they must not know what he is truly thinking and planning.
In other words: The Ruler must see their cards, they must not see his.
Robin Trower said it best when he sang "...takers get the honey, givers sing the blues."
the good news is when they are in a privately owed jail they will work for the corporation producing product all the while the state pays the corporation to keep them in jail
NO Sell till 500,000 P/E of the S&P!!!!
And let's not forget who's at the helm in Treasury (nor ever forget the infamous criminal hank paulson before that);
--
Er, well, yes you do interfere in other country's processes, all the time in fact, you have a serial habit of doing just that, in the most outrageous ways, constantly.
But next we see that Tim Geithner, and the US Treasury's (zio-kike-infested) 'financial terrorism section' plus his fellow duel-nationals distributed within the US Administration, are indeed what's behind the sanctions on Iran which big-ears has been signing into law for them. They have been systematic and concerted in undermining the US's position in the world, in the aid of zionist-kikedom's interests. It's really a classic example of why the people should never be accepted as appointees to public office, in any country, and especially not within a Treasury. They should be 100% eliminated from all such positions, as they are a living-example of treachery and fifth-column activity.
Ha! right, so Israel doesn’t interfere in other democratic countries, except Iran is a democracy. The last paragraph in the article even plainly admits it;
So one-eyed zio-kikes yet again embellish insane contradictions and leverages galactic-scale corruption to try and start a major global conflict. But to hell with the World and the US, that's OK, as long as Israel gets its war and murder spree, and it can sucker someone else to both fight the battles, and pay for it all, and to take the heat and blow-back from it.
Fuck them ALL