The Truth about bail-outs.
Bail-outs and too big to fail - systemic risk are all lies to extort taxpayer's money. This is financial terrorism, not authorized by our Constitution, Soviet - communist style extortion.
It is the transfer-redistribution of the wealth from poor to the wealthy individuals or entities.
Stop looting now.
Stop financial terrorism of public servants. Stop illegal bail-outs and government equity acquisitions. Our debt is growing. Financial criminals are charging us with the current losses and our national debt is growing.
Bail-outs are not legal and they are done under communist propaganda “too big to fail”- systemic risk. ( system risk)
All bail-outs are lies and extortion of taxpayer’s money because there are other solutions as below to reduce systemic risk or company risk:
-Any company could spin-off divisions to be smaller by voluntary means.
-Reduce leverage: sell assets to liquidate own debt, convert debt to equity –common shares.
-Issue additional common stock to generate money or capital to pay-off existing debt.
-Merge with other stronger company.
No speculative company that has too much debt should be awarded by taxpayer’s bail-out.
To big to fail, too big to jail - systemic risk?
Reduce leverage or increase capital requirements.
Apply also antitrust laws: Sherman Antitrust Act and Glass Steagall Act to break down all predators into smaller competitive companies to reduce systemic risk, limit their market share.
Implement higher mortgage underwriting standard-loan qualification- residential and commercial.
Mortgage Underwriting Standards-Guidelines: Credit Scores, Debt-to-income-Ratio, Emplyment Status, LTV-Loan to Value Latio, Required Documents about Income and Assets.
How to Underwrite Commercial Loans
Video - Bail-out - $16 Trillions were extorted by FED from taxpayers and went to foreign banks.
"The Biggest Looting Heist in American History"
Bernanke Threatens The Congress -" We will cause an Economic Collapse if you audit the Fed! "
FED GAVE BANKS 23.7 TRILLION NOT 700 BILLION DYLAN RATIGAN FROM MSNBC
9 TRILLION Dollars Missing from Federal Reserve, Fed Inspector General Can't Explain
2.3 TRillion Dollars Missing from DOD Day before 911 2001 Rumsfeld LIES
Leo E. Wanta - $27.5 Trillion Stolen from Americans. Look here!
The Leo Wanta Saga Pt 7 Former Ambassador Leo Wanta Getting 1.575 Trillion Of Stolen US Funds Back To Treasury
Good news for the American people, courtesy of former Ambassador Leo Wanta, as more than 1.575 trillion dollars is being returned to the U.S. Treasury.
Although a rather hefty sum, it is only a small portion of the 27.5 trillion, now more than doubled due to interest, Wanta has been trying to recover on behalf of the American people since the end of the Cold War.
Wanta was named legal trustor of vast sum of money by President Reagan after he was assigned the task of destablizing the Soviet monetary system, his efforts amassing a large war chest of dollars, which was to be returned to the U.S. Treasury
However, according to Wanta, after Reagan left office, he was back stabbed by the Bush I administration, leading to a long and unwarranted jail term to "get him out of the way," including more than 200 days in a Swiss jail and years behind bars on a bogus Wisconsin state income tax charge.
Released more than a year ago, Wanta has been trying with limited resources and no cooperation from the government and the media to return the money to the American people.
During his many years in jail, much of the money has been diverted to numerous private overseas accounts and, according to Wanta, essentially looted by the corrupt Bush and Clinton crime families.
But in an unexpected move in 2003 Wanta filed a federal court case to recover the money. Although the case was dismissed under sovereign immunity, he received verification from the court that his legal trustor status was valid, the judge telling him to use the federal collections courts as a recovery process.
During the last year, Wanta has been trying to retrace his financial tracks and Monday emailed the Arctic Beacon for being one of the only news outlets to follow the story, saying 1.575 trillion is a good first step at lowering the national debt.
"Thank you and your staff for their kind assistance to recover said corporate/repatriation funds with full disclosure to the United States Department of the Treasury, et al," said Wanta Monday in an email to the Arctic Beacon.
"Although the financial arrangements are complicated and did not want to elaborate the sensitive nature of the recovery due wiretapping issues,Wanta said he has been under serious pressure due to the large sum of money, which would be far more than a black eye to Daddy Bush, President Bush and Clinton if wind of the recovery ever made it to the main stream media.
Up until now, as expected, all news outlets in America are playing a hush-hush game, as in essence they serve as nothing more than propaganda arms for the New World Order, bringing down America piece by piece.
In fact, the incredible Wanta story, dubbed the 27.5 trillion dollar man, may prove to be the "story of the century" even though it is cloaked in a complicated web of financial accounting, mystery and intrigue dating back to the end of the Cold War.
But, as expected, in the midst of the many lies told to the people about a failed economy, the crime lords in the Bush and Clinton families having been part and parcel in the biggest rip-off in modern day banking history to the tune of more that 27.5 trillion, a conservative estimate according to Wanta.
Wanta appearied on the radio show, The Investigative Journal, to talk more in depth about the 1.2 trillion dollar recovery.
Wanta, the legal trustor of more than $27.5 trillion dollars in Offshore Money Book
However, President Bush and Fed have illegally blocked the money for over a month with Wanta now losing patience and giving authorities until the close of business on July 31 to fork over the money or saying he intends to file a federal lawsuit, as well as proceed after the entire $27.5 trillion which may have matured over the years to $70 trillion.
The CAFR describes what actually was spent and the status of assets and liabilities at the end of the fiscal year.
It is consolidated financial report, it shows hidden Assets, Investments and Profits owned by governments, City, state, federal.
Each year all State and local governments prepare a financial report on assets, liabilities, revenues and expenditures in more or less in a standardized format that must conform to the Government Accounting Standards Board (GASB) accounting and financial reporting standards.
The CAFR describes what actually was spent and the status of assets and liabilities at the end of the fiscal year.
The fund found its genesis in the state's oil wealth and it has paid a dividend to every resident since 1982. The amount is based on a five-year average of the fund. Founded in 1980, the APFC is frequently cited as among the most transparent sovereign wealth funds in the world, and its history, investments and historical performance can be viewed at its website.
Comprehensive Annual Financial Reports Exposed - Full version video
Slush fund of top politicians found at Vatican Bank, Obama, Clinton, Roberts? Legatus split!
Slush fund accounts of major US politicians identified and seized at Vatican Bank (Rome). Connection established with Daniel Dal Bosco RICO indictment, which cites Giancarlo Bruno, Silvio Berlusconi & Ban Ki Moon. On Wednesday 5th January 2011, it emerged that US establishment-related slush fund accounts had been located in, and seized from, the Vatican Bank in Rome.
The source of funds for these accounts in almost every instance was found to be the US Treasury. Beneficiaries of the covert Vatican accounts include Barack Obama, Michelle Obama and each of the Obama children, Michelle Obama’s mother, all the Bushes and the Clintons, including Chelsea Clinton, Joe Biden, Timothy Geithner, Janet Napolitano, several US Senators, including Mitch McConnell, several US Congressmen including John Boehner, several US Military Chiefs of Staff, the US Provost Marshal, the US Judge Advocate General, the US Supreme Court Chief Justice, John Roberts, several US Judges, the Pope, and several cardinals. Big money was found in each of the accounts.
Vatican Bank 'allowed clergy to act as front for Mafia'
On 21 September, financial police seized assets from a Vatican Bank account. Investigators said the Vatican had failed to furnish information on the origin or destination of the funds as required by Italian law.
The bulk of the money, €20 million, was destined for the American JP Morgan bank branch in Frankfurt, Germany, with the remainder going to Banca del Fucino, an Italian bank.
The allegations led police to seize $30 million in Vatican assets in September
Bush stopped by US Marshals from withdrawing Stolen US Treasury Funds at WAustralian Bank 2009
$5OO TRILLION BLACKHOLE EXPOSED Bernanke was personally blocking the US payouts
Links to above video
2010-4-7 1/2 Federal Reserve BANK CON exposed on MSNBC There is No Money
Judge Andrew Napolitano- BAILOUT Flip Flop Unconstitutional!
BAILOUT IS UNCONSTITUTIONAL: Sen. Tom Coburn (R-OK)
Ron Paul - Bailout is Morally Wrong and Unconstitutional
Ron Paul: "I Swear, Ben Bernanke Is A Puppet For The District Of Criminals!"
Ron Paul nails Bernanke in a lie! -Shipping 12 billion of cash to Iraq
Ron Paul Questions Hillary Clinton on $1 Billion London Fortress
Rating Agencies are corrupted
To quote the WSJ: "While the ratings firms may have taken an active role in developing the mortgage-backed securities, the judges found that the companies weren't liable because they didn't act as official underwriters."
If you aren't infuriated, please read that paragraph again. If you still aren't enraged, allow me to clarify. The ratings agencies -- Moody's (MCO), Fitch and Standard & Poor's -- worked with the investment banks to create products that the agencies could classify as investment grade.
The agencies were paid by the banks for this service
The banks made a ton of money selling these bogus, literally over-rated mortgage-backed securities, which were attractive solely because of the investment rating. The more faked ratings the agencies dished out, the more money they and the banks made.
The U.S. Court of appeals ruled that the ratings agencies were innocent of the ensuing fallout because they are protected by the First Amendment. You and I, the tax-paying citizens of the United States, were on the hook for saving the world from economic Armageddon. I'm not sure if you in any way got paid off for this, but I sure didn't. I don't like paying for parties I didn't attend, and I'm sure you don't either.
Breaking news - 8/05/2011 .
U.S. loses AAA credit rating from S&P
NEW YORK (Reuters) - The United States lost its top-notch AAA credit rating from Standard & Poor's on Friday, in a dramatic reversal of fortune for the world's largest economy.
S&P cut the long-term U.S. credit rating by one notch to AA-plus on concerns about growing budget deficits.
U.S. Treasuries, once undisputedly seen as the safest investment in the world, are now rated lower than bonds issued by countries such as the UK, Germany, France or Canada.
The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 12 to 18 months.
(Reporting by Walter Brandimarte; Editing by Jan Paschal)
Government nationalized Fannie and Freddie mortgages at taxpayers cost and guarantied $5 Trillion and growing.
These companies produce losses and they are charging us with the debt, demolishing foreclosed houses to reduce supplies and to control the price.
They continue also buying mortgages from the banks and charge us with the debt.
Look what happens to government owned houses now that were acquired from the banks - demolition.
Demolition - it is reducing the supplies of the houses, controlling the market prices to get maximum price.This is communist type-monopoly price control. In capitalism-free market people would benefit from buying at lower prices but it means that government and some predators would lose in lower property taxes.
Communism and monopolies are genocide against humanity. Communist create monopolies and they create price control to the benefit of few wealthy. Communists governments exterminated more than 150 million of own people by food starvation and mass murder. Expect the same today .
Communists are in power and see them at http://www.commieblaster.com/
We are protected by the Antitrust Legislation from all predators : socialism, communism, price control, monopolies, cartels, bail-outs subsidies.....
See this article in full in case it is deleted and make a note that banks are taking also deduction for charitable donation. Crime is everywhere.
Stop communist type redistribution and charging us with the debt. Make nationalized mortgage companies private.
Reduce government spending to balanced budget today. Our national debt is out of control.
Public servants can donate own money to these parasites who want who need from own pockets -this should be mandatory.
Redistribution=socialism=terrorism are not legal.
U.S. National Debt, State Debt and Foreign Debt data. Attention we are facing confiscation and nationalization of U.S.companies
Today it is much larger almost $7Trillion. These companies produce losses and they are charging us with the debt, demolishing foreclosed houses to reduce supplies and to control the price.
They continue also buying mortgages from the banks and charge us with the debt, losses, guarantee.
Government subsidies and nationalization of Fannie and Freddie are unconstitutional drain on our economy and liberties. Economy collapsed because of these poor mortgage underwriting standards and subsidies - all created by public servants in collusion with corrupted banks.
See Federal takeover (nationalization) of Fannie Mae and Freddie Mac.
They are producing losses and we taxpayers are charged for it, increasing our national debt.
Government-sponsored enterprise, GSE : Fannie Mae, FHL Banks, Freddie Mac, Sallie Mae-student loans, Farm Credit Bank, Resolution Funding Corp. Financing Corp .Toatal GSE -Debt - $ 947.5 Billions
Most of GSE companies like Fannie, Freddie Mortgages are nationalized and they are producing annual losses between $300 -$400 billion.
Charging taxpayers with the losses.
See also Mortgage Backed Security -MBS -$7 Trillion guaranteed by government.
As of the second quarter 2011 there is about $13.7 trillion in total U.S. mortgage debt outstanding. There are about $8.5 trillion in total U.S. mortgage-related securities. About $7 trillion of that is securitized or guaranteed by government sponsored enterprises (GSEs) or government agencies, the remaining $1.5 trillion pooled by private mortgage conduits. Mortgage backed securities can be considered to have been in the tens of trillions, if Credit Default Swaps are taken into account.
BofA Donates Then Demolishes Houses to Cut Glut faced with a glut of foreclosed and abandoned houses it can’t sell, has a new tool to get rid of the most decrepit ones: a bulldozer.
The biggest U.S. mortgage servicerWFC) and Citigroup Inc.(C), JPMorgan Chase & Co. (JPM) and Fannie Mae are conducting or considering their own programs.
Disposing of repossessed homes is one of the biggest headaches for lenders in the U.S., where 1,679,125 houses, or one in every 77, were in some stage of foreclosure as of June, according to research firm RealtyTrac Inc. of Irvine, California. The prospect of those properties flooding the market has depressed prices and driven off buyers concerned that housing values will keep dropping.
“There is way too much supply,” said Gus Frangos, president of the Cleveland-based Cuyahoga County Land Reutilization Corp., which works with lenders, government officials and homeowners to salvage vacant homes. “The best thing we can do to stabilize the market is to get the garbage off.”
Bank of America had 40,000 foreclosures in the first quarter, saddling the Charlotte, North Carolina-based lender with taxes and maintenance costs. The bank announced the Cleveland program last month, has committed as many as 100 properties in Detroit and 150 in Chicago, and may add as many as nine cities by the end of the year, said Rick Simon, a company spokesman.
The lender will pay as much as $7,500 for demolition or $3,500 in areas eligible to receive funds through the federal Neighborhood Stabilization Program. Uses for the land include development, open space and urban farming, according to the statement. Simon declined to say how many foreclosed properties Bank of America holds.
Ohio ranked among the top 10 states with the most foreclosure filings in June, according to RealtyTrac. The state has 71,617 foreclosed homes, Cuyahoga County 9,797 and Cleveland 6,778, RealtyTrac said.
The tear-downs are in varying states of disrepair, from uninhabitable to badly damaged. Simon said some are worth less than $10,000, and it would cost too much to make them livable.
“No one needs these homes, no one is going to buy them,” said Christopher Thornberg, founding partner at the Los Angeles office of Beacon Economics LLC, a forecasting firm. “Bank of America is not going to be able to cover its losses, so it might as well give them away and get a little write-off and some nice public relations.”
Donating a house may create an income-tax deduction, said Robert Willens, an independent accounting analyst based in New York. A bank might deduct as much as the fair market value if a home wasn’t acquired with the explicit intent of knocking it down, he said.
Wells Fargo and Fannie Mae already started donating houses and demolition funds in Ohio. San Francisco-based Wells Fargo, the biggest U.S. home lender, gave 26 properties and $127,000 to the Cuyahoga land bank, said Russ Cross, Midwest regional servicing director for Wells Fargo Home Mortgage. Since 2009, Wells Fargo made more than 800 donations, the bank said.
Fannie Mae, the mortgage-finance company operating under U.S. conservatorship, made its first deal with the Cuyahoga land bank in 2009, and sells houses to the organization at a “very nominal value,” or about $1 and an additional $200 in closing costs, said P.J. McCarthy, who heads alternative disposition programs.
Fannie Mae sold 200 foreclosures to the Cuyahoga organization in 2010 and has similar programs in Detroit and Chicago. Cleveland is the only city where Washington-based Fannie Mae contributes $3,500 toward demolition, McCarthy said.
“It’s an economically justifiable transaction,” McCarthy said. “Holding on to a property that might sell for $1,000 or $2,000 or $5,000 for several hundred days is not in anybody’s best interest.”
JPMorgan, the second-biggest U.S. bank, has donated or sold at a discount almost 1,900 properties valued at more than $100 million in more than 37 states since late 2008, including 22 in Cleveland, said Jim O’Donnell, manager of community revitalization. The majority aren’t demolished, he said.
Citigroup has been donating foreclosures since 2008 through the National Community Stabilization Trust, according to an e- mailed statement from Natalie Abatemarco, managing director for the bank’s office of homeownership preservation. The New York- based company, ranked third among U.S. lenders, is part of the Washington-based nonprofit trust’s pilot program that starts in late August to provide funds for purchases in distressed neighborhoods, and the money can be used toward demolition, Abatemarco said.
Demolishing all of Cleveland’s foreclosed and abandoned properties might cost $250 million, Frangos said. There are as many as 13,000, according to Case Western Reserve University in Cleveland and Neighborhood Progress Inc., a nonprofit organization working to counter the effects of foreclosures in six Cleveland areas, according to its website. The Cuyahoga County land bank owns about 899 properties and will demolish about 700 in the next six to seven months, Frangos said.
Blow Them Up
The oversupply of homes once prompted Warren Buffett, chairman and chief executive officer of Berkshire Hathaway Inc. (BRK/A), to quip in February 2010 that one solution was to “blow up a lot of houses -- a tactic similar to the destruction of autos that occurred with the ‘cash-for-clunkers’ program.’”
Still, the knockdowns aren’t likely to outpace foreclosures, said Rick Sharga, RealtyTrac’s senior vice president. Foreclosures may accelerate as banks clear a backlog caused by soft real estate markets and legal disputes over tactics used to seize homes.
“These sorts of programs will basically only be nibbling on the edges,” Sharga said.
To contact the reporter on this story: Lindsey Rupp in New York at Lrupp1@bloomberg.net
To contact the editors responsible for this story: David Scheer at email@example.com; Rick Green in New York at firstname.lastname@example.org.
©2011 BLOOMBERG L.P. ALL RIGHTS RESERVED
Fannie, Freddie - government owned posted losses - taxpayers are charged with the losses.
Fannie/Freddie regulator sues UBS on $900 million loss
NEW YORK (Reuters) - The regulator for Fannie Mae and Freddie Mac sued UBS AG , accusing the Swiss bank of misleading the housing agencies into buying risky mortgage debt, resulting in more than $900 million of losses.
Fannie Mae loss widens; asking taxpayers for $2.8B -08/05/2011
Looting from taxpayers continue, charging us with the debt for losses.
How to limit predatory market share - too big to fail.
Getting rid of too big to fail.Senators Kaufman, Casey, Merkley, Whitehouse and Harkin (along with others who may pile on) have introduced a 20-page amendment to actually address “too big to fail.”is refreshingly simple legislation – 20 pages of common sense.
It limits firm size to 2% of GDP including off-balance sheet vehicles for banks, 3% for non-banks, and forces divestiture of overages. It also requires reporting and testimony before Congress if regulators fail to promptly address violations.
In addition it places a hard cap of 10% of deposits in any one institution (a limit that already exists by the way, but has been wantonly violated by The Fed allowing mergers during the crisis that breached the limits – and yet there has been no requirement to divest.)
This would place a balance-sheet limit of about $280 billion on a bank.
This would put an instantaneous full-stop to the outrageous obscenity called “Wells Fargo”, which has $1.7 trillion in off-balance sheet “assets”, not to mention the other “big banks” that have hundreds of billions off sheet as well.
We now get to find out who is really for Wall Street reform – and who needs to lose their seat in The Senate.
Recent News about increased capital requirement for banks.
To Cushion Against Losses, Fed Considers Raising Capital Requirements for Banks
BASEL III is a new global regulatory standard on bank capital adequacy and liquidity agreed by the members of the Basel Committee.
Auto Industry-Bail-outs- to General Motors. Taxpayers might not see their money again
List of companies with Bail-out
Related articles to the FED
I am calling for National Tax Revolt and Termination of Federal Reserve
Terminate the Federal Reserve System - Ponzi Scheme and financial terrorist. Collapsed our economy and extorted bail-outs.
Stop the crimes of FED –shareholders.Terminate FED – illegal communist type banking.
Lies and corruption of FED. Bought an "opinion of economists", on FED payroll.
Goldman Sachs - Financial Master - Fraud designer of CDO, MBS.
The truth is that bank can issue additional common shares to generate the cash, to increase capital requirement. Common shares of any public corporation would be diluted , but is means less risk therefore stocks should benefit in longer term.
Any large Corporation can issue common stock to generate more cash for the current business operation or expansion.
Current regulation does not apply to smaller banks, so small banks would benefit from lending if large banks decide not to do it.
I love regulation it is against predatory expansion and high leverage of the too big to jail, too big to fail predators.
Too big to fail, systemic risk?
Make all predators smaller: force them to spin-off by voluntary means or by the rule of law. Increase also capital requirements to reduce leverage.
Stop lies, stop lies, stop lies of JP.Morgan and the Media.
While millions of Americans face bankruptcy their political leaders launder $trillions to off-shore accounts.
According to a study on executive compensation released by New York State Attorney General Andrew Cuomo:
• Goldman Sachs, which earned $2.3 billion for the entire year 2008 and received approximately 4 times their net earnings or $10 billion in TARP funding, paid out $4.8 billion in bonuses in 2008 – more than double their net 2008 income.
• Morgan Stanley, which earned $1.7 billion in 2008 and received approximately 6 times their net earnings or $10 billion in bailout funds, handed out $4.475 billion in bonuses, nearly three times their net income.
• JPMorgan Chase, which earned $5.6 billion in 2008 and received approximately 4 times their net 2008 earnings or $25 billion from the government, paid out $8.69 billion in bonus money.
• Citigroup and Merrill Lynch lost a combined $54 billion in 2008. They received a total of $55 billion in bailouts which they used to wipe out their entire $54 billion debt from their book then put themselves back in debt by handing out $9 billion in combined bonuses. ($5.33 billion for Citigroup; $3.6 billion for Merrill Lynch, which was subsequently acquired by Bank of America.)
• Bank of America earned $4 billion in 2008 and paid out $3.3 billion in bonuses in 2008 immediately after the bank received $45 billion in TARP funds. They were given over 10 times their net earning for 2008. Bank of America used the bailout money to buy up banks including Merrill Lynch which they paid $50 billion for. Bank of America actually money laundered federal aid money – used to purchase high-value items (other banks) to change the form of the money – took tax payers’ dollars and bought other banks.
• AIG was given more than $173 billion in Bush / Obama bailout scheme money. The Wall Street Journal reported that about $50 billion of more than $173 billion that the U.S. government has poured into American International Group Inc since last fall has been paid to at least two dozen U.S. and foreign financial institutions. The newspaper reported that some of the banks paid by AIG since the insurer started getting taxpayer funds were: Goldman Sachs Group Inc, Deutsche Bank AG, Merrill Lynch, Societe Generale, Calyon, Barclays Plc, Rabobank, Danske, HSBC, Royal Bank of Scotland, Banco Santander, Morgan Stanley, Wachovia, Bank of America, and Lloyds Banking Group. American International Group Inc. lost $62 billion in just 92 days or so they declared in order to get $173 billion from the US people. AIG was used by Bush and Obama to money launder more US tax dollars to banks that had already received $billions. They went through AIG to intentionally hide money transactions that were obtained illegally by faked and or falsified bank quarterly financial reports.
Both Bush and Obama actions are criminal, idiotic to say the least. Its a classic case of dumb and dumber. Both have got to be either the dumbest people on the planet when it comes to leadership and handling a crisis or the most craftiest criminal masterminds in the world. How they handled the US economic crisis proves this.
Both Bush and Obama were given an amount that would be needed to fix the problem but they both paid 4 to 6 times the asking price. If you were shopping to buy a good used vehicle and you found one and the asking price was $10,000 would you give $40 – 60,000 to the seller? Of course you wouldn’t. But that is exactly what both Bush and Obama have done. They’ve given away 4 to 6 times the asking price for a lemon. They both illegally took large sums of money from the American people (tax dollars) and poured it into allegedly failing Federal Reserve owned or controlled banks (to this day no evidence or audit has ever been presented or taken to prove that they were actually failing) which they (the reported failing banks) used the legitimate banking system to launder the Bush / Obama money to other banks. The US tax dollars were suppose to be used to buy up all the failing banks’ worthless bad debt (no evidence exists or has ever been presented to actually verify that the money was ever actually used to buy up any bad debt). Instead the money was actually used illegally to buy other banks and write big fat bonus checks to each and every money laundering conspirator – including Bush and Obama.
No sooner had Obama signed his $787 billion bonus plan check to the Federal Reserve bankers in February 2009 than the first major disclosure of corruption were reported by federal investigators in April 2009. The LA Times reported that federal investigators had opened at least 20 criminal probes into possible securities fraud, tax violations, insider trading and other crimes.
The cases represent only the first wave of investigations, and the total fraud could ultimately reach into the hundreds of billions of dollars, according to Neil Barofsky, the special inspector general overseeing the bailout program.
The disclosures reinforce fears that the hastily designed and rapidly changing bailout program run by the Treasury Department and Federal Reserve is going to carry a heavy price.
What started out as a $787 billion effort only to buy toxic securities has morphed into at least 12 separate programs that cover up over $16 trillion in direct financial transfers, zero interest loans, loan guarantees and bank bonuses by and to the Federal Reserve bankers.
“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”~ President Woodrow Wilson: 1916
“America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.” ~ Abraham Lincoln
Bail-outs-salary and bonuses - this is looting from the company
This is not salary or bonus, this is bail-out looting from corporation and depositing into own illuminati -account - tax free- off-shore account, collapsing the company, extorting bail -outs again from the God father Jewish -Mafia -- the FED, charging the people with the debt, taking bail-out bonuses, collapsing the company again and criminal cycle is in process again.
Lehman Brothers Boss Defends $484 Million in Salary, Bonus
The Looting Of America: The Federal Reserve Made $16 Trillion In Secret Loans To Their Bankster Friends And The Media Is Ignoring The Eye-Popping Corruption That Has Been Uncovered
Wall Street Bailout: Fed's $1.2 Trillion Secret Loans Revealed
Kaptur CHEWS Up Tiny Tim GOLDMAN And Spits Him Out.mp4
Revealing testimony exposes who Timothy Geithner really works for - the privately owned Federal Reserve Bank. He is an agent of the foreign owned Federal Reserve Bank. His loyalties are to them. Timothy Geithner is a criminal. He is a proven tax evader. He is a money launderer. A fraudsters.
An embezzler. He is not fit to be the United States Treasury Secretary. He has stolen at least $16 trillion from the American people and gave it all to the foreign owned Federal Reserve Banks.
He is guilty of high crimes and misdemeanors. Section 4 of Article Two of the United States Constitution: "The President, Vice President and all civil officers of the United States, shall be removed from office on impeachment for, and conviction of, treason, bribery, or other high crimes and misdemeanors."
Lenders that may face a lawsuit by the U.S. Federal Housing Finance Agency over faulty mortgage loans, according to six people with knowledge of the matter.
Federal Reserve System - illegal control and bail-outs
When finally a chink of transparency was visible in the Fed’s records via a one-time limited audit earlier this year, mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, it was revealed that the Fed made $16.1 trillion in secret loans to their Wall Street buddies at the height of the crisis.
Not only did the “too big to fail” banksters and even major foreign banks get trillions in nearly interest-free loans, but the Fed actually paid them over 600 million dollars to help run the emergency lending program! Thus the very financial institutions that caused the financial crisis were paid by the Fed to manage all of these bailout loans.
Banks Put Americans on the Hook for Trillions
Wells-Fargo derivatives $73T
Protests to terminate FED
October 3, 2011
The Occupy Wall Street crowd has become predictably focused on issues like taxing the middle class and moderately “rich,” ending capitalism and even re-electing Obama to ‘fight’ the very elites who pushed him into power. Focus should instead be on the real source of power for the out-of-control bankster class- the private, unaccountable Federal Reserve bank that creates money out of thin air, issues secret loans to insiders and foreign governments and systematically institutes debt on the American people through their undue powers.
Communists are looting and from illegal - nationalized mortgages Fannie, Freddie, producing losses and charging taxpayers.
Gingrich says he received Freddie Mac compensation
Stop looting -redistribution by government owned- illegal Fannie, Freddie mortgage companies.They are looting and charging taxpayers with the losses. Make them private again.
Fannie, Freddie criminals execs score $100 million payday
Outrage over Fannie and Freddie bonuses
STOP looting now, make these nationalized criminals private again. Taxpayer's liability is growing and reaching 7 Trillion.
NEW YORK (CNNMoney) -- Mortgage finance giants Fannie Mae and Freddie Mac received the biggest federal bailout of the financial crisis. And nearly $100 million of those tax dollars went to lucrative pay packages for top executives, filings show.
The top five executives at Fannie Mae received $33.3 million in 2009 and 2010, while the top five at Freddie Mac received $28.1 million. And each company has set pay targets of as much as $17 million for its top managers for 2011.
Stop looting by AIG
AIG was given more than $173 billion in Bush / Obama bailout scheme money. The Wall Street Journal reported that about $50 billion of more than $173 billion that the U.S. government has poured into American International Group Inc since last fall has been paid to at least two dozen U.S.
Postal Service loses $5.1 billion in fiscal 2011
The losses could add pressure on Congress to pass legislation offering relief to the cash-strapped agency.
Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress
International Monetary Fund - IMF - U.S. share is 17.72%
Since the United States has by far the largest share of votes (approx. 17 percent) amongst IMF members (see table below), it has little to lose relative to European nations.
Conservatives Seek to Block IMF- Bailout of Europe
There is talk that the International Monetary Fund (IMF) will play a greater role in bailing out beleaguered European economies such as Italy and Spain. And conservative congressmen are working to see to it that doesn’t happen, The Hill reports.
The worry is that U.S. taxpayers will be on the hook in a major way, as the United States is the biggest contributor to the IMF, providing about 17 percent of its budget. Sen. Tom Coburn, R-Okla., says he plans to introduce legislation telling the Obama administration to veto an enlarged role for the fund.
Senate Republican Steering Committee Chairman Jim DeMint and Washington Rep. Cathy McMorris Rodgers, a member of the House Republican leadership, are set to introduce such legislation too.
“I’m adamantly against the IMF being involved in this,” Coburn said. “We’re throwing good money after bad down a hole that I think is not a solvable problem.”
Read more on Newsmax.com:
Conservatives Seek to Block IMF Bailout of Europe
Reporting from Washington — Taxpayer losses from the government seizure of failed housing finance giants Fannie Mae and Freddie Mac could reach nearly $400 billion, but likely won't top that level as some had feared, the firms' federal regulator said Wednesday.
To offset some losses, the Federal Housing Finance Agency is seeking billions of dollars in repayment from banks that sold bad loans to the firms, acting director Edward J. DeMarco said.
Fed Report Says Fannie, Freddie Losses May Aid Housing RecoveryJan. 5 (Bloomberg) -- A report from Federal Reserve Chairman Ben S. Bernanke called the weakness in the housing market a “significant barrier” to U.S. economic health and said Fannie Mae and Freddie Mac might have to bear greater losses to stoke a broader recovery.
USA- IMF Bail-out share = 17.72%
The International Monetary. Countries contributed to a pool which could be borrowed from, on a temporary basis, by countries with payment imbalances.
The Zionist bankers- the FED are looting, extorting, transferring our money to Zionist IMF Bank-to Zionist- European Union - ECB banks and Zionist European banks owned by Zionist Rothschild.
This is the result of large debt. Terminate the FED and illegal "National-Central" Zionist banks, print own money debt free, interest free. We do not have to die of idiocy and poverty.
Bankers should reconstruct all loans and take the losses since they created such illegal loans based on illegal Fractional Banking System.
Public schools are illegal government monopolies, they are communist terrorist camps breeding communist propaganda, extorting the money for Bolshevik unionized teachers, illegals, somebodys' bastards, public servants early retirement plans- $60, 0000.00 annual to infinity while taxpayers can not afford any.
Prices are not legal and all student loans are not legal. People are poor and have to much debt : leveraged with high mortgage loans, student loans, auto loans, credit cards , taxes, illegal -high prices in health care, energy.. because of illegal price control. There is no disposable income to spend to move economy, to create jobs.
These loans should be reconstracted by bankers and all losses must be assumed by them.
Ron Paul Brilliantly Answers Student Loan Question. Student loan crises arrived – $1 Trillion.
Federal Government & Attorneys General reach landmark settlement with major banks
Justice Department –Mortgage settlement
Servicers will be restricted from foreclosing while the homeowner is being considered for a loan modification.
See the truth criminal- communist face of public servants, transferring the wealth from the poor to the wealthy.
The Wall Street gold rush in foreclosed homes –transfers the wealth from poor people who lost homes to the wealthy.
Bolshevik Government confiscated/nationalized mortgage companies Fannie/Freddie mortgages at the cost of taxpayers and is looting from these mortgages, producing very large losses, charging taxpayers while the wealthy bankers benefit from, making millions in salaries and bonuses.
Banks like Bank of America destroyed also foreclosed homes to reduce supplies to control the price, article is above.
See this now. Government is redistributing -confiscating the wealth from poor people who lost the houses to the wealthy bankers and will charge taxpayer for the losses again.
These Government Owned Enterprises called GSE are producing about $400 Billion in losses annually, charging taxpayers for the losses.
Critics, meanwhile, contend the federal government is fostering a transfer of wealth of sorts by selling big pools of foreclosed homes to big fund investors and high-net-worth individuals.
They will make also fat profits in renting out foreclosed homes.
Should Fannie Mae Sell Foreclosed Homes in Bulk to Hedge Funds? -Tech ticker
Should one of these outfits manage to turn a huge profit by buying a portfolio of homes from Fannie Mae or Freddie Mac and then flipping them, it'll be yet another example of public entities absorbing losses while private entities rack up gains.
Rather than sell homes to hedge funds who can rent them out, it would be smarter for owners of foreclosed property simply to rent the homes to the people who already live in them.
$ 43 Trillion -Banksters -racketeering lawsuit in United States History
NEW YORK, Oct. 25, 2012 /PRNewswire via COMTEX/ --
Spire Law Group, LLP's national home owners' lawsuit, pending in the venue where the "Bankster
In connection with the federal lawsuit now impending in the United States District Court in Brooklyn, New York (Case No. 12-cv-04269-JBW-RML) - involving, among other things, a request that the District Court enjoin all mortgage foreclosures by the Banksters nationwide, unless and until the entire $43 trillion is repaid to a court-appointed receiver - Plaintiffs now establish the location of the $43 trillion ($43,000,000,000,000.00) of laundered money in a racketeering enterprise participated in by the following individuals (without limitation): Attorney General Holder acting in his individual capacity, Assistant Attorney General Tony West, the brother in law of Defendant California Attorney General Kamala Harris (both acting in their individual capacities), Jon Corzine (former New Jersey Governor), Robert Rubin (former Treasury Secretary and Bankster), Timothy Geitner, Treasury Secretary (acting in his individual capacity), Vikram Pandit (recently resigned and disgraced Chairman of the Board of Citigroup), Valerie Jarrett (a Senior White House Advisor), Anita Dunn (a former "communications director" for the Obama Administration), Robert Bauer (husband of Anita Dunn and Chief Legal Counsel for the Obama Re-election Campaign), as well as the "Banksters" themselves, and their affiliates and conduits. The lawsuit alleges serial violations of the United States Patriot Act, the Policy of Embargo Against Iran and Countries Hostile to the Foreign Policy of the United States, and the Racketeer Influenced and Corrupt Organizations Act (commonly known as the RICO statute) and other State and Federal laws.
In the District Court lawsuit, Spire Law Group, LLP -- on behalf of home owner across the Country and New York taxpayers, as well as under other taxpayer recompense laws -- has expanded its mass tort action into federal court in Brooklyn, New York, seeking to halt all foreclosures nationwide pending the return of the $43 trillion ($43,000,000,000.00) by the "Banksters" and their co-conspirators, seeking an audit of the Fed and audits of all the "bailout programs" by an independent receiver such as Neil Barofsky, former Inspector General of the TARP program who has stated that none of the TARP money and other "bailout money" advanced from the Treasury has ever been repaid despite protestations to the contrary by the Defendants as well as similar protestations by President Obama and the Obama Administration both publicly on national television and more privately to the United States Congress. Because the Obama Administration has failed to pursue any of the "Banksters" criminally, and indeed is actively borrowing monies for Mr. Obama's campaign from these same "Banksters" to finance its political aspirations, the national group of plaintiff home owners has been forced to now expand its lawsuit to include racketeering, money laundering and intentional violations of the Iranian Nations Sanctions and Embargo Act by the national banks included among the "Bankster" Defendants.
The complaint - which has now been fully served on thousands of the "Banksters and their Co-Conspirators" - makes it irrefutable that the epicenter of this laundering and racketeering enterprise has been and continues to be Wall Street and continues to involve the very "Banksters" located there who have repeatedly asked in the past to be "bailed out" and to be "bailed out" in the future.
The Havens for the money laundering schemes - and certain of the names and places of these entities - are located in such venues as Switzerland, the Isle of Man, Luxembourg, Malaysia, Cypress and entities controlled by governments adverse to the interests of the United States Sanctions and Embargo Act against Iran, and are also identified in both the United Nations and the U.S. Senate's recent reports on international money laundering. Many of these entities have already been personally served with summons and process of the complaint during the last six months. It is now beyond dispute that, while the Obama Administration was publicly encouraging loan modifications for home owners by "Banksters", it was privately ratifying the formation of these shell companies in violation of the United States Patriot Act, and State and Federal law. The case further alleges that through these obscure foreign companies, Bank of America, J.P. Morgan, Wells Fargo Bank, Citibank, Citigroup, One West Bank, and numerous other federally chartered banks stole trillions of dollars of home owners' and taxpayers' money during the last decade and then laundered it through offshore companies.
This District Court Complaint - maintained by Spire Law Group, LLP -- is the only lawsuit in the world listing as Defendants the Banksters, let alone serving all of such Banksters with legal process and therefore forcing them to finally answer the charges in court. Neither the Securities and Exchange Commission, nor the Federal Deposit Insurance Corporation, nor the Office of the Attorney General, nor any State Attorney General has sued the Banksters and thereby legally chased them worldwide to recover-back the $43 trillion ($43,000,000,000,000.00) and other lawful damages, injunctive relief and other legal remedies.
James N. Fiedler, Managing Partner of Spire Law Group, LLP, stated: "It is hard for me to believe as a 47-year lawyer that our nation's guardians have been unwilling to stop this theft. Spire Law Group, LLP stands for the elimination of corruption and implementation of lawful strategies, and that is what we're doing here. Spire Law Group, LLP's charter is to not allow such corruption to go unanswered."
Comments were requested from the Attorney Generals' offices in NY, CA, NV, NH , OH, MA and the White House, but no comment was provided.
About Spire Law Group
Spire Law Group, LLP is a national law firm whose motto is "the public should be protected -- at all costs -- from corruption in whatever form it presents itself." The Firm is comprised of lawyers nationally with more than 250-years of experience in a span of matters ranging from representing large corporations and wealthy individuals, to also representing the masses. The Firm is at the front lines litigating against government officials, banks, defunct loan pools, and now the very offshore entities where the corruption was enabled and perpetrated.
Contact: James N. Fiedler877-438-8766 http://spire-law.com/
SOURCE Spire Law Group, LLP
Copyright (C) 2012 PR Newswire. All rights reserved
Folks this could be the straw that crushes these f*****g maggots. Thing that bothers me is , Are they just looking for the cash to be returned??? WTF would happen if i did this?? THIS STORY CAN NOT DIE PEOPLE SO DON'T LET IT!!!
$ 43 Trillion -Banksters -racketeering lawsuit in United States History
Media Coverage and murder.
Did Corporate Media Coverage of a $43 Trillion Lawsuit Lead to the Heinous Stabbing of Two Young Children?
CNBC Digital VP's Children Murdered After $43 Trillion "Bankster" Lawsuit Suit Post, Post Removed