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Oct 17, 2011

Are these firms too big to fail, and too influential with politicians to successfully prosecute ANYONE? 

If this is allowed to go on, and no one is held accountable, what does the future hold for other veterans, much less the public?

It seems that this fraud went on in a very large number of banks, and for quite awhile.

Who is supposed to be watching for this fraud?

Who is in charge of investigating it?

Who is in charge of fines, penalties, criminal charges, etc? 

http://realestate.bryanellis.com/5395/13-banks-accused-of-defrauding-veterans-treasury/ 

This is on top of the robo signing scandal and fraud. 

That is on top of the scandal about secretly printing up TRILLIONS and sending it out to foreign banks, via the Federal Reserve, which has not been audited, and maybe never will be. 

That is on top of Fort Knox, which has not been audited since the 1960's. Is there any gold left in there? What are we doing with this gold? What purpose does it have? Why not use it? Who owns it? Who controls it?

Much like the largest corporations getting bailed out during the last financial crisis, and then no one being charged and no one going to jail. Nothing seems to be changing on the legislative side to protect from another crisis from happening. We the people have lost control of our destiny through the normal channels of power. 

Corporations seem to be running the whole show. The can break laws at will, raid the public money coffers whenever they want for as much as they want. They can print up money on demand, (in the TRILLION, via a private for profit corporation called the Federal Reserve. They can elect anyone they want, and create laws that favor them against the people's will. 

 

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Posted: Oct 17, 2011 1:56pm
Feb 18, 2009

Alan Greenspan gave an Economic Outlook speech that was shown on C Span.. here are his predictions.......

This is the most gloomy set of statistics he has ever seen in his lifetime. 
Predicting another 10 percent drop in home prices
Says global output is still in free fall, and will take time to recover as inventory that is in excess is sold or disposed of.. In other words, no recovery until this happens. 
No recovery until home prices stabilize.
3 month Libor bank to bank rate is 100 basis points where it should be 10. This is a worrying number... 
If interest rates keep going up, then recovery could be slowed down or stopped. 
Banks will need more bailout money before they can recover. 
Interest rates may increase if money supply is expanded, which is what is happening now, in my view. 
He said that banks used to have 50 of their assets in reserve, but this dropped steadily until now, when assets in reserve were very low. This caused the current crisis... 
In my words, he is saying that banks started gambling and spinning the Roulette Wheel since the 1980s, when money was leveraged about 40 times.. In other words 40 dollars were loaned out for every 1 dollar in deposits in the bank... When those forty dollars went bad and could not be collected, then there was nothing left in the bank to cover the bad loan... This is happening all over the globe, as toxic complicated loans were packaged and sold, after being mixed up with stocks, futures and other garbage that had no value by companies like the ones that recently had to go and get corporate welfare in order to survive. Taxpayers are now being asked to cover the bad debts of gamblers...
 
...
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Posted: Feb 18, 2009 4:35pm
Nov 20, 2008

A Call to Action

 

December 6, 2008 - Celebrating a New Day for the Earth

Friday, November 14, 2008

To Friends of the Climate Crisis Coalition,

On Saturday, December 6, 2008, concerned citizens around the world will be participating in the fourth annual Global Day of Climate Action. This important day will be midway through the annual UN climate conference, taking place this year in Poznan, Poland. The Climate Crisis Coalition's international ally, The Global Climate Campaign, is synchronizing demonstrations around the world in as many places as possible - to call on world leaders to take urgent action on climate change. As in previous years, CCC is calling on friends and allies to partake in any way they can.

This year, actions in the U.S. are particularly pertinent because the U.N. conference is going to set the parameters for the all-important post-Kyoto treaty to be signed in December, 2009 in Copenhagen. And with the hoped-for dawning of a new era in Washington, this will represent a last chance for the U.S. to clearly reverse its obstructionist role and set the tone so that a significant, strong and binding treaty can be negotiated. The perils our planet faces demand no less.

CCC will again provide an online network where people can find out about events taking place across the country and groups and individuals can register new events. We only have three weeks to put this together, but with our all-consuming elections behind us, and growing number of citizens eager to keep the President-elect Obama and the new Congress focused on the climate crisis, CCC is convinced that it is not too late for significant actions to take place across the U.S. on or around December 6th. Many are all ready in the works.

WHAT YOU CAN DO: Rallies, teach-ins, forums, vigils, movie showings and other gatherings of all types are encouraged. CCC will publicize and report on these actions through postings at the Climate Action: 12/6/08 site.

 

The Issues

CCC is urging participants to concentrate on four demands.

Binding and enforceable climate legislation in the U.S within the first 100 days of the new Congress that will begin to sharply curtail greenhouse-gas emissions. The U.S. must also exert leadership toward reaching a similarly effective post-Kyoto treaty.

Reduced levels of atmospheric CO2. Our allies at 350.org, inspired by climate scientist James Hansen and author Bill McKibben, are making a compelling case for a drastic reduction of greenhouse gas emissions, not just to level off atmospheric concentrations that are already far to high, but to reduce them to a level where the earth and life as we know it has a fighting chance. Top climate scientists have come up with the number of 350 parts per million: that must be our goal and our rallying cry.

100% carbon-free electricity within 10 years. Al Gore has issued a five-part plan to repower America with a commitment to producing 100 percent of our electricity from carbon-free sources within 10 years. This is a goal that must be embraced by all.

Pricing carbon pollution will create powerful incentives for our economy to rely upon energy efficiency and renewable energy sources, both of which will reduce emissions, create green jobs and promote economic and social equity. This involves gradually-increasing carbon taxes on the use of coal, oil and gas, with revenues used to reduce other taxes or distributed directly to individuals on an equal basis. Any of this revenue directed toward developing green energy must be for truly renewable sources - excluding nuclear power and 'clean' coal.

CCC and its allies are planning a major petitioning campaign to Congress and the Obama Administration requesting that equitable carbon pricing be an essential component of a new comprehensive climate bill that needs to be enacted in the first 100 days of the 111th Congress. The website where groups and individuals can support this effort, sign the petition, and send letters to Washington will be launched on November 20th!

We now have remarkable opportunities at a unique juncture in our history. Any help that you can offer would be most appreciated. Please let us know by return email if you can assist with the December 6th Global Day of Action or with our Carbon Pricing Initiative. And, please click here to make a contribution which would now be especially appreciated.

Together, with allies around the world, we can make December 6th, 2008 an event that helps move us toward a New Day for the Earth.

 

 

Tom Stokes, CCC Coordinator
tstokes@kyotoandbeyond.org

Ezra Small, Project Organizer
esmall@kyotoandbeyond.org

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Posted: Nov 20, 2008 5:59am
Sep 18, 2008

http://www.care2.com/news/member/214325341/758293?saved=1

Note the above news please...

Senator Phil Gramm slipped legislation that DEREGULATED banks and securities firms, which allowed them to sell ARM loans and then repackage them as bonds, stocks and more... making them invisible and part of the larger financial global market.. 

Gramm is solely and individually responsible for this crisis, as he CAUSED IT. Where is he now? He was promoted and is now advising McCain, and will be the new Treasury Secretary if McCain is elected. DO YOU WANT HIM IN THAT POSITION?

This crisis is so complicated that no one can figure out where the loans went, who bought them, or how it will affect anyone..

The net result though is easy to see. Banks and insurance companies are melting down, and becoming worthless, as witnessed by AIG, the largest insurance company in the world selling for what amounts to a NICKEL. The largest securities dealing firm also sold for a NICKEL..

The Feds have printed almost  TRILLION dollars in the last year to bail out major companies and firms, but basically ignored the people at the bottom.. The rich get the money, while the poor suffer. The last Depression was caused by this same self centered short sighted focus.

What would happen if they bailed out every consumer with an ARM loan? Would that not stabilize the market, feed money to banks and the rest, as well as give a helping hand to those who are REALLY SUFFERING, instead of shoveling Billions to people who already own twenty mansions?

Who is directing this fiasco? President Bush... is in charge.... but I get the idea that neither Gramm nor Bush, nor McCain has any CLUE what to do. They are certainly not helping the little guys.

What will be the result? My prediction is that there will be a panic, and then a Depression... That is my prediction, based on what happened in the past.

Get ready, it will be wild ride. When people and nations lose faith in the dollar, which has nothing behind it except over stressed citizens who are losing their homes, and are now paying to bail out major corporations, banks and stock traders, what then?

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Posted: Sep 18, 2008 7:24am

 

 
 
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