Comments on: Are the Big Banks Faking a “Liquidity Crisis”?

By: 911truthfarmer

911truthfarmer — Mon, 29 Sep 2008 15:50:32 +0000

It’s the latest and greatest scam. We and our grandchildren are to be made chattle by these robber barons, and we pay for the privilege! How do you loan money that doesn’t exist and then ask the taxpayers to take the bad debts? What a paradox, a complete joke, but it works everytime. We keep falling for it! We are being asked to pay back money that never existed. How nice is THAT! I want a piece of that action! Wow. Build it up, tear it down, get a bailout, consolidate power, buy assets for pennies on the dollar, repeat as necessary. Gotta love it. If crisis=opportunity, then we sure missed the big one. We need a complete financial overhaul of the system, but alas, as Ron Paul says, we are solving the problem with the very methods that got us into it. Putting out fire with gasoline, baby!

By: Norm

Norm — Sun, 28 Sep 2008 13:31:53 +0000

Not to advocate Communism but our friend K Marx was right when he said capitalism does NOT WORK! Just think about ! It capitalises on something be it the environment or the poor saps who have to work for the industrial moguls’ It’s a fundament law of capitalist business that any business cannot stay static, it either has to contract or expand. So how much is enough? The need more and more and more and more, it has to stop or end somewhere! As Marx would agree, somewhere down the line, just one or 2 monster Co end up owning everything, which is just about where we are now! Are people so stupid they can’t see it! But there again, most people believe what they are told by 1984 style TV controlled media. WAKE UP and smell the coffee!

By: Paul K

Paul K — Sun, 28 Sep 2008 12:52:18 +0000

I can not understand this. Doesn’t anyone in our law enforcement or oversight for law
and justice prosecute these criminals for passing a bill to take our tax money
with out a damn public hearing to debate the right way to do this. You can not pour money
into a hole unless you fix the hole at the bottom..ie failed house loans and very badly crooked run banking investment firms. The loosening of regulations in the area where
these investment banks and mortgage companies has caused this mess..time for tight
regulation and for wall street to bite the bullet.

Here is a small point to think about when the next time you see law enforcement advertising on street gangs.

Many law anforcement sherriff commanders with their 4-5 star military police state uniforms like Mr. Bradshaw in Palm Beach advertise..

” oh we will get the gangs off the streest that do not belong there. We will work with
every law enforcement agency local, state and federal level to keep the streets from gangs.
blah blah blah

and yet the real gangs they should go after are the ones who passed this bill to use our
tax money. I think they should be the target as gangs whoever was responsible in
drafting this 100 page bailout bill..Folks this bill was in the works for a long time.

It doesn’t take one weekend to write it up!

The gangs we should go after are In D.C. and the corporate elite.

The gangs in the streets are the end result of letting drugs come in
and the middle class slipping down with the poor especially in poor
communities where blacks, latinos and whites live as economic induced
slaves.

Paul
Palm Beach

By: Ali

Ali — Sun, 28 Sep 2008 08:54:32 +0000

Daylight robbery of the American taxpayers. Elect a bad government and the people pay for it. Democracy for the rich and influential. A bad example to the third world. How unfortunate.

By: David

David — Sun, 28 Sep 2008 07:05:26 +0000

If I was anyone in the Federal Government, I wouldn’t show my face Monday!

By: David

David — Sun, 28 Sep 2008 07:03:51 +0000

I hate to say it, but it looks like we are going to have to show those assholes that “We Will Not Be Silent”, and we should fill the streets, Protest, and a hell of a lot more.

Time to kick some ass!

By: Norm

Norm — Sun, 28 Sep 2008 06:14:23 +0000

We are all on an express elevator to hell ! They are robbing us all, and there is nothing we can do about it. Most people are sheep, they believe the main stream media which is controlled by team Hitler, state sanctioned propaganda. I have attempted to inform those around me what’s going on, THEY think I am crazy! I am told we are the paranoid fools! Believing the crap on the internet! There’s NO HOPE! I also believe British people are almost the Ginny pigs for this new World order, social engineering, try it on us first type thing. Who is Americas best friend !!!!!!!!!!! The UK, but you attempt to complete the Green card lottery on line, if your British. It says NOT eligible. What that all about. It’s not prison planet ( it’s prison camp UK).

By: Matt

Matt — Sun, 28 Sep 2008 05:52:26 +0000

“Congress, White House reach financial bailout deal
By CHARLES BABINGTON and ALAN FRAM, Associated Press Writers 14 minutes ago

WASHINGTON – Congressional leaders and the Bush administration reached a tentative deal early Sunday on a landmark bailout of imperiled financial markets whose collapse could plunge the nation into a deep recession
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BREAKING NEWS:Congress leaders, Bush administration reach tentative bailout deal. (AP) » Read story

Congress, White House reach financial bailout deal
By CHARLES BABINGTON and ALAN FRAM, Associated Press Writers 14 minutes ago

House Speaker Nancy Pelosi announced the $700 billion accord just after midnight Saturday but said it still has to be put on paper.

“We’ve still got more to do to finalize it, but I think we’re there,” said Treasury Secretary Henry Paulson, who also participated in the negotiations in the Capitol.

“We worked out everything,” said Sen. Judd Gregg, R-N.H., the chief Senate Republican in the talks. He said the House should be able to vote on it Sunday, and the Senate could take it up Monday.

The plan calls for the Treasury Department to buy deeply distressed mortgage-backed securities and other bad debts held by banks and other investors. The money should help troubled lenders make new loans and keep credit lines open. The government would later try to sell the discounted loan packages at the best possible price.

At the insistence of House Republicans, some money would be devoted to a program that would encourage holders of distressed mortgage-backed securities to keep them and buy government insurance to cover defaults.

The legislation would place limits on severance packages for executives of companies that benefit from the rescue plan, but details were sketchy.

Also, the government would receive stock warrants in return for the bailout relief, giving taxpayers a chance to share in financial companies’ future profits.

To help struggling homeowners, the plan requires the government to try renegotiating the bad mortgages it acquires with the aim of lowering borrowers’ monthly payments so they can keep their homes.”

-12:49 AM… good timing, Wall Street whores. I sent a letter to my Congressman saying I intended to do everything humanly possible to resist paying them a cent. I intend to keep my word.

By: David

David — Sun, 28 Sep 2008 05:42:07 +0000

While You Were Sleeping…………………….Sunday!!!!!!!!!

Predictions vs. reality in Iraq
27/09/2008 11:50:00 PM
On cost, according to estimates from the Congressional Research Service, we have already burned through around $550 billion in Iraq, at a rate of about $2 billion per week.

Where did a lot of our wealth go?

Who Lied to Congress in order to get approval to Invade Iraq?

Are We Going To Fall For it Again?

Speak Out People! Even if you can’t physically fight back, Use the internet and phones.

There are enough poor, armed citizens to back you up.

Speak Out! Email your Representatives on Sunday!

Here, copy and paste this to an email and send it to every Congressman and Representative :

Do Not Pass Bailout please.

Paulson’s calculations were not assisted by any economists at all, and they cannot be trusted. It is a purely arbitrary, “back of the envelope” type figuring. According to Bloomberg: Swiss investor Marc Faber, known for a long track record of good calls, believes the damage may come to $5 trillion.

From “The Australian” News :
September 28, 2008

US politicians worked frantically today to agree a $US700 billion ($A839.53 billion) Wall Street bailout before markets reopen after the weekend, voicing optimism a deal was within reach.

House of Representatives Speaker Nancy Pelosi said she hoped an agreement in principle between lawmakers and the White House could even be reached today.

Where did a lot of our wealth go?

Who Lied to Congress in order to get approval to Invade Iraq?

Are We Going To Fall For it Again?

My God, the American People can see what you are doing this time, do not make the biggest mistake since electing GW Bush President.

Feel free to use this. dlb

By: LZ

LZ — Sun, 28 Sep 2008 05:05:45 +0000

Take what Bloomberg says with a grain of salt. INSTEAD, focus on what THE EXPERTS are saying… You know… The EXPERTS that have ACTUALLY been warning the American people about the events that are coming true now. Not some rag that has been painting a rosy picture of our Economy for the last 30 – 40 years… they were clueless then, they are clueless now. And yes, hording cash should be expected behavior from greedy banker’s in times like these. The last laugh will be on them though, because when this is all said and done, most of us wouldn’t even wipe our asses with their worthless Federal Reserve Notes.

_____________

680% Inflation?
Posted by Lew Rockwell at September 27, 2008 07:16 PM
From http://www.lewrockwell.com/blo.....23154.html

Writes Steve Fairfax:

The Federal Reserve has released statistics showing a dramatic change in bank reserves in the two-week period September 10 to September 24.

Banks are now holding reserves that are 268% of requirements. Typically, and as recently as August, reserves are 4 to 5% over requirements.

Banks normally make overnight loans of “excess” reserves to other banks short of reserves. Now they aren’t. In times like these, bankers are like all conservatives: They start to worry more about return OF principal than return ON principal. If they make an overnight loan to the next bank to fail, they might not be repaid in a timely manner, or ever.

This could be the “lockup” that Congressmen have referred to when reporting on the sobering closed-door briefings from the Billionaire Bailout Boys.

There are many other things worth noting. As mentioned earlier, the monetary base had a VERY large increase. It went up by over 7.6% in two weeks!

The Mogambo Guru will be needing CPR!. That’s a very large creation of money, well into hyperinflation territory. Compounding 7.6% in two weeks for 26 periods gives a 680% increase per year.

I’d like to hope that the Fed will reduce the monetary base, but of course that is difficult, and this is an election year, and there are so many good reasons why creating ever greater amounts of money seems like a good idea at the time…