Financial Times:
Citigroup is close to a secret agreement with one of its main regulators that will increase scrutiny of the US bank and force it to fix financial, managerial and governance issues.
FDIC Pushes Purge at Citi - WSJ.com
Citigroup Demands Wachovia, Wells Fargo Terminate Merger Deal ...
Citigroup: Battling the FDIC, but Losing the Regulatory War ...
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We failed when we failed to Nationalize these corrupted banks..!
They're out of control, yet in control of our government...especially this White House...!
We lost a great opportunity to improve our system, instead Obama chose to enrich them and reward them for their corruption and incompetence...and allow them to continue to prey upon Americans...!
Such a terrible waste same as this so called Health Care reform which failed to address the rising costs and allow the profit motive to remain in control of and prey upon Americans...
Funny how "Conservatives" so called are against Nationalizing these banks, but want to Nationalize every American's women's Uterus..!
"Secret?"
Has no one heard of "open meetings laws?"
Look ... I -know- that the FDIC has been taking bribes for the last fifteen years (and more). I -know- they do not want their dirty laundry to be aired. And, I know that Citi is working some kind of a "deal" that will magically turn into billion-dollar "profits."
But I also know of fifty million people who don't have jobs .. or insurance .. or homes. And I call those people, "plaintiffs."
I know that Article 2, Section 4 of our Constitution lists "bribery" right alongside "treason," for they are one and the same.
So ... no more "sweetheart deals" between banks and regulators. Banks do not "negotiate" whether or how the laws of the land are to be enforced those who have flagrantly broken them.
Glass-Steigel them!
Divide them up and get rid of the JUNK at the expense of the Stakeholders!
Bye Bye TOO-BIG-TO-FAIL!
With $32TRILLION of Toxic Derivatives Hidden "Off-BALANCE-SHEET" why save them or any of these WS MAMMOTHS who have OUT-LIVED their TIME!
When did it sound like a good idea to have "OFF-BALANCE-SHEET" accounting? Wasn"t this an invention by the ENR0N Accountants Arthur Anderson to hide the corrupt practices of ENR0N? Why is the ENR0N L00PHOLE still legal and WallStreet still using it to hide their FAKE ACCONTING?
Clean up the Banks and Return Democracy to our Congress and our Country for the first time since Jackson!
_________
Wilbur Ross, one of the super-rich Timmy picked for his PPIP program, in a RARE MOMENT of FULL HONESTY on CNBC last Monday, said,
"This is the largest TRANSFER of DEBT from the PRIVATE Banks to the Government in History and it will take MANY YEARS."
Are they going to gradually weigh down Americans with 50 years of GDP Growth ($700 Trillion) that will take 200 years to work OFF?
Close the ZombieBANKS, FD1C/C0NGRESS!
WilburRoss is also implying it is the Greatest transfer of wealth from the American People/Government to WallStreet over MANY YEARS as a corollary!
Thanks Wilbur for the RARE MOMENT of FULL HONESTY from WallStreet!
CNBC has the video interview with Maria unless imysteriously erased now!
If you cannot find it I have it on my DVR!
A Federal Agency in our Government, the 0ffice of the Comptroller of the Currency, 0CC, issues a quarterly Report that has the following info:
1 JPM0RGAN $81TRILLION in Toxic Derivatives
2 B 0F A $78TRILLION
3 G0LDMAN $48TRILLION
4 M0RGAN $39TRILLION
5 C1T1GROUP $32TRILLION
http://www.occ.gov/ftp/release/2009-72a.pdf
Page 23!
i am so pissed after hearing paulson lies again today.they forgot to have bank of america sign a contract ,that would pay us intrest on our money we gave them.
MARCH ON WALL STREET
Monday, August 10th, 2009
Beginning at 8 AM
Starting on the corner of Wall St. and Broad St. and spreading out from there...
EXCELLENT wish I could be there with you, but on West Coast!
Will be with you in spirit!
This is a GREAT use of HP! Thank YOU!
Thanks for the support...
The beauty of protesting in NY is that there are over 8 million people who are within a bus/subway/walking distance... Even if a small fraction of the population showed up it would be huge.
i hope i can make it, please keep posting this! we need to take back our country from these financial terrorists who own our government and the messages the main stream media spew to the unknowing masses.
Thanks and please spread the word as much as you can... I will repost this in as many places as I can (without being flagged for spam hopefully), but feel free to post as well.
Citibank "negotiating" "change" for itself, by itself? Bwahahahahahahaha!
Let them and all those bail-outers go bankrupt. I'm sure that can't be any worse than the continuing bailouts with no net benefit for Americans and not getting us out of depression.
That is the nature of regulation and regulatory institutions. They allow the powerful to write the rules they want into law to protect themselves and punish thier competitors.
If everybody hasn't noticed, We are in a depression.......
First you have to ask yourself why did Obama win, why not Kucinich? Obama had good ideas but when he arrived in Washington he found out who runs this country and it is not him. He has to juggle it just like a general does in the Army, half politician and half doing his job. Seems to me the people in power are the FED. Why are they blocking Ron Paul's cry for auditing the FED?
Because the FED is a government protected private banking cartel which continually acts like the ATM for the special interests of both parties. It is shameful. It also allows the private banks to reap all the profits and then allows them to spread the losses to the American tax payer. This is not a partisan issue......the FED needs to be FULLY audited NOW!!!
It also ensures this country will be in debt as long as the fed exists. Every dollar in circulation started it's life as debt.
not audited bUrNeDdOwN....IiIIiiiii,,,,,.........
More proof that the citizens of the U.S. have been taken in by Obama's hollow verbiage.
blame obama .nothing he could do right now .we money to get the econonmy rolling again.and they have our money .thank you bush
lol i need to proof read .
"Zombie Banks", by definition, operate in the DARK.
Paul Krugman nailed the problem, when he called for an Open Process of selling the toxic assets and taking the losses, and re-constituting what is left of these over-leveraged quasi-criminal financial organizations commonly known as "Too Big To Admit To Their Crimes" Banks.
Instead, we will live with these "Walking DEAD Banks" for the next ten years, operating behind closed doors.
When "The Best & Brightest Economists" call for swift solutions, based on the Japanese mistakes decades ago, we should LISTEN.
Does Beranke even comprehend the lessons of Japan?
Whom are the Federal Reserve Bankers protecting? Henry Paulson's buddies at GS?
I think so.
Is the secret regulator going to regulate Government Sachs???
This just gives you a small idea who controls the Government money talks and BS walks!
So much for Obama's codswallop about "transparency in government."
So much for Geithner's transparency promises.
What do you call someone whose actions are intentionally, repeatedly different from their promises?
Obama has a lot of audacity to so plainly disregard his promises of transparency. Not much hope that he will actually perform to the promises he made.
you're spot on....they are not as advertised ..and I'm disappointed...what recourse is left for the American people?
I agree 100%. What I find even more laughable is that this administration now wants to give the FED more powers. We know that the FED has created $1 Trillion on balance sheet. Funny that the FED has NO CLUE where the money went. Watch this and try not to http://www.lewrockwell.com/blog/lewrw/archives/029485.html29485.html
Yet the most disturbing thing is that the FED has actually created $9 Trillion OFF-BALANCE sheet. Hmmm....I wonder where that money went? The FED is a disgrace. It is responsible for enslaving the lower/middle-class with debt!! Audit the FED....and then Abolish the FED!!
15 Million person march on the white house and Mall.......
What needs to be open to scutiny is WHO is on the Board of Directors.
Is CITI too big to fail? I don't know but throwing more money at a company that can't function on it's own is very worrying. A sign of bad management, as the public is not privy to all that goes on, we are unable to judge. Obviously the regulators are concerned with mis management and CITI's failure to follow banking regulations.
The majority of Americans who are not shareholders of CITI stock could care less if the company failed. Should we be concerned about is if there are too few Investment Banks in the US?
If CITI collapses the US financial indistry goes pop! And we WILL have a depression (not that we don't already...!), overnight, and for a LOOOONG time.
The real answer to these problems is: don;t ever allow your government to become corrupted by wealth and power. Use a 100% public finance system fro campaigns.
It is too late now, the genie is out of the bottle, and we are in serious, serious trouble...
the supreme court rules that lobby campaign funds are not bribes although WE KNOW THEY ARE! What is our recource ?
Voting these suckers out of office. Vote for no incumbants. This is all we have left. As soon as they show signs of corruption, make a list and vote them out! Just like the JR legislature (D-FL) is showing signs, she needs voting out to never make SR !
Yeah cementing two party rule and increasing the incumbancy rate to 100% with publicly funding all campaigns sounds like a real winner. Who decides who gets money for campaigns? Why the people currently in power will. How in the world is that going to help things? The USA has a very different political reality than other countries in the world. We have a global empire which hundreds of corporations and thier client politicians rely on for thier life blood. There is no way that public financing will do anything other than further cement control of the corporate interests.
Wrong.
Require a specific amount of signatures, based on district/office you are running for. If that requirement is met, you are given funding based on office sought, just like every other candidate.
This opens up running for office to thousands of non-millionnaires who might actually care about public service. Other counties do it and it works fine. The only thing special about the US is how insane campagins are and how ripe for corruption the process is.
How would the incumbancy rate be run up to 100%, with pressure increased for other candidates, and no fiscal advantage?
We don't have to be corrupt....
Why the "secret." That is never good!
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First Posted: 07-16-09 12:53 AM | Updated: 07-16-09 12:56 AM