nova

Bank Reform: One Central Banker that Gets It?

TeresaE wrote:
" Yet one more stellar example of how the onerous laws in this country create none of the safety and security that one would like should happen.

We don't need more laws. We need simple, enforceable laws that truly protect the bulk of our citizens while allowing personal freedom and pursuit of life, liberty and happiness."

Our political system is terribly corrupt. The only interests our politicians care are
- Their own interests
- Interests of their "to big to fail" masters

The Coming Consequences of Banking Fraud

CautiousInvestor wrote:
"The Japanese experience is eerily similar to our recent crisis"

This is a incorrect statement. Japan's crisis took place in a very "stable" geopolitical environment. Japan was continued its domestic & international policies. Until now, Japan just "lost" 15 years of its development. However, Japan's demographics and skyrocketing of China industrial & financial might are changing "the game".

As for the USA, the present economic & political crisis, as well as the US active participation it three major global wars (Iraq, Afghanistan, Pakistan), have led to a major, adversed to US national interests geopolitical shift.

Conclusion: the USA does not have "a luxury" of Japan lost decade.

John Paulson Buying Citigroup Shares?

Together with WallStreet barons, John Paulson's hedge fund is one of America oligarchs running the US government.

If there is a strong inflation, many Americans will not be able to afford food on a table due to the same inflation.

Consequently, these people still will not pay their mortgages. As for banks, they will need to find buyers for these foreclosed houses making real-estate appreciation very questionable.

Geithner's Outburst Was Misdirected; Read the Riot Act to Bankers Instead

The author wrote: "The people Geithner really needs to be delivering a few choice words to are the nation’s bankers."

How in world can he do it? Cursing his own employers?
The author either too naive or just too dishonest and hypocritical.

Five U.S. Banks Are Too Big to Exist

The purpose of financial markets is to facilitate businesses financing. Is the room for business insurances and hedging? Yes, these are viable and important business tools.

The problem with the WallStreet is that it does not serve legitimate purposes for either business or investment communities. Presently, it is involved in illegal financial markets manipulations with exclusively self enrichment purposed.

It is a criminal cartel and it must be liquidated as such.

Five U.S. Banks Are Too Big to Exist

Adam855,

It is of interest that all three (IMF, World Bank, and CIA) report to the same master.

Do I trust them? Did CIA tell us truth about WMD in Iraq?

Five U.S. Banks Are Too Big to Exist

The present US situation is quite simple:
a. Crime does pay extraordinary well with impunity
b. Consequently, these crimes will continue regardless of gimmicks like toothless regulations and laws written by the same criminals

Fitch Report: Financial Companies Hold 99.7% of All Derivative Contracts

Angry Banker wrote:
"Buddy, I'm willing to bet that I've paid a lot more taxes in my life than you have."

May be. But, how much money did you steal ruining America industrial, biotech, high-tech, etc., corporations? You SOB ruined the country!

Did We Nationalize Banks, Or Did They Nationalize Us?

Harry Tuttle wrote:
"Except Obama appointed two insiders to handle the problem. Geithner and Summers, naturally, did their best to save...the banks...
If the unemployment numbers don't get better, Obama may face the same loss of credibility Bush experienced."

I believe you give too much credit to American people intelligence.

More Bad News for Boeing, Citi: Sea Launch Files for Bankruptcy

Just 20 years ago, the USA was the undisputed king of space launches. But not any more. Arianespace is well ahead of the USA. NASA is another government agency without any directions and real operational capabilities. It became another government "welfare" agency. This is the story of American hightech.

US government during Clinton and both Bush administrations severely damaged US space capabilities in time when space becomes the major militery and commercial interprises of the future.

Break Up the Big Banks

The lifeblood of a free-market system is honest, fair, and free competition.

Monopolies do not have and/or allow any competition. This is why it is so vital to enforce anti-monopoly rules and laws.

This is why it is so important to free American economy from Wall-Street monopolistic strangleholds on our economy and our political life.

As for Obama, he is just a fraud, a mobster and a liar.

PS
The only great thing Obama has done so far is to kill UAW union. With a new arrangement prohibiting strikes, the union became just an empty shell. As for Chrysler and GM, spending/wasting 2-3 hundred billions dollars, they will disappear for good.

Bail Out for Dummies - Part I

The most incredible thing I am reading about is so called "money growth & currency devaluation" theories.

If only the FED/government could devaluate US$ and print more money back in early 1930s, the Great depression would be gone in no time. By the way, FDR did devaluate US$ regarding to gold.

These economic geniuses and/or liars built their theories from thin air and in a vacuum.

Let us examine the reasons. By devaluating US$ and printing more fiat-money will trigger following events:
- Debtors will be able to get from under their debts much more easily
- Lenders and debt holders will be greatly compromised being the major losers
- General population standards of living will be greatly reduces due to inflation
- The parties responsible for economic collapse will be handsomely rewarded

The story goes that there are always winners and losers. In vacuum, things are fine, no problems. But,
- Why, in their sound mind, will lenders continue extending/providing credits to parties who are unable and/or refusing to pay back?
- Impoverished general population will be enraged by being openly screwed up. Forcing innocent citizens to pay for crimes committed by the economic & political elite will lead to social unrest and upheavals.
- Rewarding perpetrators, even by "restoring" some resemblance to the previous status quo, instead of curing the original problems will greatly exacerbate them.

Sorry, nothing is free. In any case, somebody must pay for the crimes, either perpetrators or victims. Somehow, Obama administration, the Congress and Wall-Street think that they can without any impunity screw up the country and its citizens by using and appealing to the least productive elements of the society. WOW. This how revolutions are coming about.

How Much Risk is the Treasury Really Assuming from Financial Institutions?

[a corrected version]

It appears that the entire US financial & government cartel continues it fraudulent and criminal activities.

By saving this criminal enterprise, the US economy and the political system will gain nothing good but will regenerate a dangerous vampire back to life and save corrupt politicians this monster feeds and controls.

It becomes crystal clear that a failure to rejuvenate this monster is in the best interests of America and its people.

How Much Risk is the Treasury Really Assuming from Financial Institutions?

It appears that the entire US financial & government cartel continues is fraudulent and criminal activities.

By saving this criminal enterprise, the US economy will gain good nothing but will regenerate a dangerous vampire back to life.

It becomes crystal clear that a failure to rejuvenate this monster is in the best interests of America and its people.

Exclusive: Big Banks' Recent Profitability Due to AIG Scam?

prudentinvestor wrote:
" The government had to make a choice: (a) nationalise the large banks and reboot, or (b) prop them up and save their powerful managers. They chose (b), which requires shovelling hundreds of billions, if not trillions, into private for-profit companies, at the expense of taxpayers. so this "news" is no surprise, and likely just the tip of the iceberg."

Something very similar did happen in the former Soviet Union 15-20 years ago. The first Russian president Boris Yeltsin together with a group of selected con-artists looted the entire state. The general population standards of living went down 85%. All savings were completely wiped out.

At the same time,using very sophisticated schemes,
- Zillions of US$ were transfered into offshore accounts of Yeltsin family members and close to president con-artists
- General population became impoverished
- Suddenly a new class of Russian oligarchs appeared. At least dozen Russian oligarchs immediately appeared in the Forbes 100 riches people of world. These oligarchs seized all most profitable companies and enterprises.
- To protect themselves and their loot, Yeltsin transfered all political power to the State Security Agency (a.k.a. KGB) and their boss A. Putin. Consequently, Russian people found themselves back in "state slavery times".

How was is done? It all was done under a slogan of "Democracy and Privatization".

"Privatization", in a nutshell, worked very simply:
- Privatization of most lucrative enterprises was done "privately" when billion-dollars corporations were transfered into "right" hands for just few millions dollars
- These "right people" got these millions dollars for free quietly from the State banks.

Our former president GW Bush was very good mind reader. He looked into Putin's eyes and recognized someone very close to him: the same gangster, liars and a thief.

WOW. America, you have selected the Russian way going to the future.