RTF 360's Comments

Where's the Outrage at the Banks?

Sun, 25 Oct 2009 16:38:33 -0400

Where's the Outrage at the Banks?
Surely you jest Mr. Brown.

The Fall of the Republic --- The Presidency of Barack H. Obama
www.youtube.com/watch?...

Is a Crash Impending?

Fri, 04 Sep 2009 13:54:46 -0400

Had you been the greatest bear trader in America and gotten short PERFECTLY at 9,630 in the CBOT DOW Jones futures last week friday and went home short DESPITE the higher high on the week and the higher weekly close, all you have in the trade is 200 points and the inability to go through the slow moving average or take out 9,100.
As we have been saying since St. Patrick's Day; "All the surprises are on the upside"
While everyone else is getting a tan and drinking beer because "the market is like watching paint dry" , I'm glued to the screen. This is exciting for a technical trader.

Prediction , Karl Denninger will get capitulate on his amageddon scenario and get long at 10,000 on the DOW

Sector ETF strength: Semis– IGW +2.5%. Transports– IYT +2.4%. Homebuilders– XHB +2.2%. Nasdaq– QQQQ +2%. Industrials– XLI +2%. Sector ETF weakness: Agriculture– DBA -2.3%. Heating Oil– UHN -1.6%. Gasoline– UGA -0.6%. Commodities– DBC -0.5%.

Fri, 04 Sep 2009 13:46:33 -0400

Had you been the greatest bear trader in America and gotten short perfect at 9,630 last week and went home short DESPITE the higher high on the week and the higher weekly close, all you have in the trade is 200 points and the inability to go through the slow moving average or take out 9,100.

As we have been saying since St. Patrick's Day; "All the surprises are on the upside"
While everyone else is getting a tan and drinking beer because "the market is like watching paint dry" , I'm glued to the screen. This is exciting for a technical trader.

The CFTC Is Needlessly Breaking Good Products

Fri, 21 Aug 2009 13:23:12 -0400

" Capo dei capi: The leader of all leaders or boss of bosses. The most powerful Mafia boss to whom all others defer."

Can't tell the players without a program;

www.brucewiseman.net/i...

Bruce is a genius

Obama to Reduce Budget Deficit on 'Fewer' than Expected Bank Failures

Fri, 21 Aug 2009 13:11:15 -0400

Tyler, you are clearly a genius and a national treasure.

That being said; you'd better give up the ghost on the DOW going down. It will close the week above the Fibonacci .382 retracement thus announcing to the bears that their toast.

I only hope to have a whole bunch of red thumbs down so the volitiility to the up side is big.

The Market Bubble Is About to Pop

Wed, 12 Aug 2009 16:55:31 -0400

Quinn, you are way, way too smart to hang that out there with just a stinkin' url to explain yourself.

BTW ; How 'bout that DOW Quinn ?

Time to do an article Quinn ; "How to make Fascism Work For Me While I Wait for the Civil War."

www.cmegroup.com/tradi...

you'll notice the stand made at 9,363 on the CBOT DOW future in the last 2 hours confirming my Fibonacci calculations.
They got the stops above 9,360 before closing.
Bears got religion this afternoon.

www.cmegroup.com/popup...($5)&type=p

Sent: Saturday, August 08, 2009 11:18 AM
Subject: For your thoughtful consideration

Fibonacci retracements are an important big picture benchmark for market observers who use technical analysis.{IN ALL MARKETS}
The DOW future at the CBOT made an all time high of 14,060
the low of the bear market move was 6,460.
the total number of points lost from the top Thursday October 11,2007 was 7,600.

A .382% Fibonacci retracement of the total bear market would be 2,903 points.
6,460 plus 2,903 points is 9,363 on the CBOT DOW future.

My technical work has the tradable resistance between 9,700 & 10,000.
Market participants are and will continue to be acutely aware of Fridays high and may stage a bear raid from there. Know how they will be thinking.
Those same follower of Fibonacci retracements will be forced to capitulate and call for a 50% or for Fibonacci purists, a .618% retracement , should the .382% retracement at 9,363 fail to hold as resistance

10,260 is the 50% retracement {6,460 + 3,800}
11,156 is the .618 % retracement {6,460 + 4,696}

On Aug 12 03:07 PM James Quinn wrote:

> Fat drunk and stupid is no way to go through life, son.
>
> theburningplatform.com...

The Market Bubble Is About to Pop

Wed, 12 Aug 2009 12:45:00 -0400

It's not a "bubble".
Dr. Leeb deals in the abstract and theoretical and obviously hasn't a clue to the practical.

Every company in America is licking their chops for Obama Care thus releasing themselves from paying health care premium payments.

Clearly most of the readers of this blog just don't "get it" because they never had to carry the crucifix of paying for an entire company's health care obligation year in and year out.

Every dime of money that is not paid into health care is free money...unforseen profit...bottom line bonanza.
It will pump up profitibility, stock prices , stock options prices , CEO pay and above all be a greased skid to Fascism.
Rebutt that boys with cold hard facts ...not theory or ideological rhetoric.
The DJIN will print 12,000 because NONE of you calculated for this.
Not even the Obama Bankster Oligarchy.

www.liveleak.com/view?... this "must watch video" it is great and beyond rebuttal ;
"Washington does not have the Constitutional or moral authority to outlaw private markets"

Dow Theory Sees Bull Market Signal

Sat, 25 Jul 2009 11:03:31 -0400

Reparations don't have to come with 40 acres and a mule.
21st Century reparations can just keep giving and giving via nationalized health care.

When Obama takes all the Boomer health care benefits and gives them to his supporters it will not only be "eugenics" it will be good strategic politics. He doesn't want the Boomer vote , he wants the Boomers dead and off Social Security and health care.

There is a reason the stock market is going up.
When those corporations don't have to pay for health care because it was nationalized , all the money goes straight to the bottom line as pure {& completely unforeseen}profit .

Yale's Shiller Still Glum on the Economy, Housing

Sat, 25 Jul 2009 11:01:23 -0400

A turn in housing ? William C. Wheaton, Professor of Economics, MIT.....Schiller is obliged to rebutt Wheaton's arguement.

This column argues that fundamentals on the supply side of the housing market imply that US housing prices are about to bottom out. They should resume rising soon.

Is it possible we are at the bottom of the first dip in the "W" type recovery? An intriguing article was recently written by MIT's William Wheaton, who argues that net new household formation will soon create significant demand by using up existing inventory in the housing market. That demand may be sufficient to stabilize prices and stimulate new construction. It's a matter of demographics.

From VOX, William C. Wheaton:

During the last decade, net new household formation averaged approximately 1.4 million per year. Last year, the Census reported that the US added only 544,000 new households – during severe contractions the young stay at home, singles “double up”, and household formation (normally) slows. Even with declining demographics, however, most analysts foresee new household growth resuming to a level of at least 1 million by 2010 and beyond. If we conservatively add 200,000 demolitions per year, the US economy will “need” at least 1.25 million new units yearly in the near future. With today’s currently depressed construction, this generates a yearly deficit of 750,000 units.

At that rate, the current excess inventory of units for sale or rent will be back below normal by 2011. Prices historically have a strong relationship with sales “duration” – the ratio of inventory-to-sales. Hence under reasonable conditions, in two years we will have to increase construction considerably and prices will have to justify the cost of that construction.

24 Trillion Reasons to Buy Gold

Tue, 21 Jul 2009 13:35:25 -0400

zerohedge.blogspot.com...

The $23.7 Trillion Backstop Heist

"dear taxpayer, (you) are being robbed by the Too Big To Fails and the Reserve Banking System. Much more info contained in this report, which attempts to grasp just how pervasive the involuntary taxpayer support of Wall Street is, including a great overview of the Federal Reserve Banking System

look for a 1 to 3.9 reverse "split" on the dollar.
Stocks and real estate are the safe haven.
Tell the transfer agent/ registrar you want physical possession of the stock certificate

Is the U.S. Dollar the Fed's Next Weapon?

Tue, 21 Jul 2009 12:44:44 -0400

zerohedge.blogspot.com/

look for a 1 to 3.9 reverse "split" on the dollar.
Stocks and real estate are the safe haven.
Tell the transfer agent/ registrar you want physical possession of the stock certificate

Goldman's Success: Put Down Those Pitchforks

Sun, 19 Jul 2009 19:32:05 -0400

Ryan Avent does not have the credentials to opine on this .

Tavakoli on the other hand "wrote the book"

For your inspection;
www.cnn.com/2009/POLIT...

Goldman Sachs: Blame the Monster, Or Its Creators?

Fri, 17 Jul 2009 12:45:43 -0400

The "trade " was set up and is known as the "Greenspan Put".

Rubin set up Citi bank by ordering Thomas G. Maheres to write credit default swaps untill the pens went dry.
Ever hear Maheres name again? He was at one time slated to be Chairman of Citi ?
Cassano at AIG and Neal at MLPF&S jumped on the Rubin band wagon only to find out at the end of their careers that they to had been set up by the GSA Banksters.

Greenspan went to John Paulson & Co to cash in his chips.
Rubin got pad through GSA
The politicians who empowered the CDS raid on the system have numbered foreign bank accounts that were paid with the $780 billion TARP that made good on the GE,AIG, Citi, Bear, Lehman etc CDS that they bought.

www.prnewswire.co.uk/c......

In "their" world there are only the takers and the taken.
It is indefensible when the "taken" fall back on ideology to excuse the crime that Max Keiser so succinctly and articulately described.

zerohedge.blogspot.com...

Why Does Goldman Sachs Need a Fed Exemption for VaR Calculations?

Thu, 16 Jul 2009 12:21:38 -0400

www.cnn.com:80/2009/PO...

for Janet Tavakoli the woman who litteraly "wrote the book" on structured investment vehicles and OTC swaps to turn on Goldman Sachs is earth shattering news in the world of high finance.
Please read and share widely; she has busted these Banksters for what they are ; thieves and thugs.

Goldman Sachs does't have "earnings" they have booty & loot.

Goldman Sachs Political Capital Ratio Is Inadequate

Thu, 16 Jul 2009 01:15:33 -0400

What Wall Street Owes You (Commentary)

CNN – July 15, 2009

By Janet Tavakoli

Goldman Sachs Group Inc. announced record earnings Tuesday of $3.44 billion for the second quarter of 2009.

Goldman's stock price leapt 77 percent for the first half of 2009, and closed Tuesday at $149.66 a share.

Without an ongoing series of front- and backdoor bailouts financed by U.S. taxpayers, most of Goldman's record profits would not have been possible.

In April 2009, Goldman Sachs' CEO, Lloyd Blankfein, who received record salary and bonus compensation of $68.5 million in 2007, said that bonus decisions made before the credit crisis looked "self-serving and greedy in hindsight." Now, they look self-serving and greedy with foresight.

Goldman set aside $11.4 billion for employee compensation and benefits, up 33 percent from last year. That's enough to pay each employee more than $390,000, just for the first six months of this year.

In June, Goldman bought back its preferred shares, repaying $10 billion it received from the government's Troubled Asset Relief Program, or TARP, and setting it free of limits on executive compensation and dividends.

But pay is not the key issue. U.S. taxpayers deserve a large cut of the profits, not the chump change -- less than a half-billion dollars -- they got from preferred shares in the company and the relatively small amount they could get from warrants in its stock.

U.S. taxpayers should insist that a large part of Goldman's revenues and profits belong to the American public. TARP money was just part of a series of bailouts and concessions that allowed Goldman to prosper at the expense of a flawed regulatory system.

In March 2008, Goldman, a primary dealer in Treasury securities, was among the beneficiaries of a massive backdoor bailout by the Federal Reserve Bank. At the time, Henry Paulson, former CEO of Goldman Sachs, was treasury secretary.

In an unprecedented move, the Fed created a Term Securities Lending Facility, or TSLF, that allowed primary dealers like Goldman to give non-government-guaranteed "triple-A" rated assets to the Fed in exchange for loans. The trouble was that everyone knew the triple-A assets were not the safe securities they were advertised to be. Many were backed by mortgage loans that were failing at super speed.

The bailout of American International Group, or AIG, ballooned from $85 billion in September 2008 to $182.5 billion. Of that money, $90 billion was funneled as collateral payments to banks that traded with AIG. American taxpayers may never see a dime of their bailout money again, but Goldman saw plenty.

Goldman may be the largest indirect beneficiary of AIG's bailout, receiving $12.9 billion in collateral, including securities lending transactions, from AIG after the government bailed out the insurance company.

The key question is whether Goldman asked AIG to insure products that were as dodgy as the doomed deal from Goldman Sachs Alternative Mortgage Products exposed by Fortune's Allan Sloan in his October 16, 2007, Loeb Award-winning article: "Junk Mortgages Under the Microscope."

If the federal government had not intervened and if AIG had gone into bankruptcy, Goldman probably would not have received its $12.9 billion from AIG. U.S. taxpayers and the American economy are owed some of the bailout money passed directly through AIG to Goldman.

Wall Street firms also reaped trading windfalls when AIG needed to close out its derivative transactions. This was the most lucrative windfall business in the history of the derivatives markets. When AIG left money on the table, it was U.S. taxpayer money.

Goldman Sachs was granted bank holding company status in the fall of 2008. It already had the temporary ability to borrow from the Fed through the TSLF, which would have expired in January 2009. Now it has permanent access to lending from the Fed.

Goldman can now compete with the largest U.S. banks and borrow money at interest rates pushed as close to zero as possible by the Fed. Goldman gets a further benefit: favorable accounting rule changes. In addition, Goldman issued $30 billion of debt with a valuable government guarantee that remains outstanding.

Meanwhile, the American public faces a rising unemployment rate, falling housing prices, rising unemployment, higher local taxes and a dismal economic outlook.

Interested men with reputations and fortunes at stake rode roughshod over public interest. The American public is owed part of the profits Goldman was able to make because of the largesse of our Congress.

Wall Street's "financial meth labs," including Goldman's, massively pumped out bad bonds and credit derivatives that have melted down savings accounts, pension funds, the municipal bond market and the American economy. Risky assets, leverage and fraud led to acute distress in the global financial markets.

The biggest crime on the American economy may go unpunished with no consequences to the perpetrators. The biggest crime was not predatory lending, but predatory securitizations, packages of loans that did not deserve the ratings or prices at the time they were sold. They ballooned what should have been a relatively small problem into a global crisis.

Wall Street owes the American public for its key role in bringing the global economy -- and in particular, the U.S. economy -- to its knees. Goldman is not alone in owing the American public. It is not the worst of all of the Wall Street firms. But among all of Wall Street's offenders, it is the most well-connected, and Goldman was the firm that cleaned up the most as the result of government bailouts.

The opinions expressed in this commentary are solely those of Janet Tavakoli.

Janet Tavakoli is the president of Tavakoli Structured Finance, a Chicago-based firm that provides consulting to financial institutions and institutional investors. Ms. Tavakoli has more than 20 years of experience in senior investment banking positions, trading, structuring and marketing structured financial products. She is a former adjunct associate professor of derivatives at the University of Chicago's Graduate School of Business. Author of: Credit Derivatives & Synthetic Structures (1998, 2001), Collateralized Debt Obligations & Structured Finance (2003), Structured Finance & Collateralized Debt Obligations (John Wiley & Sons, September 2008), and

Dear Mr. Buffett: What An Investor Learns 1,269 Miles From Wall Street (Wiley, 2009).

Janet Tavakoli

President

Tavakoli Structured Finance, Inc.

360 E. Randolph St., Suite 3007

Chicago, Illinois 60601 USA

(312) 540-0243

e-mail: jt@tavakolistructuredf...

web site: tavakolistructuredfina...

Living in the American Mafia State

Thu, 09 Jul 2009 21:16:41 -0400

Just a coincidence....none of these things are related

www.youtube.com/watch?...

www.theatlantic.com/do...
seekingalpha.com:80/ar......
www.reuters.com/articl......
www.youtube.com/watch?...

Dr. Paul Craig Roberts , former Asst Secy of the U.S. Treasury .......on Geithner & Goldman Sachs

Taibbi on Goldman Sachs: Finally Online from Rolling Stone

Tue, 07 Jul 2009 10:20:57 -0400

www.theatlantic.com/do...
seekingalpha.com:80/ar......
www.reuters.com/articl......
At the end of "Saving Private Ryan" in his dying breath Captain Miller whispered to Private Ryan; "Earn this".

In the memory of the two million who gave their lives for our freedom and the right to representative self governance lets put this Goldman Sachs Bankster Oligarchy out of business. May they all end up on display just like Mussolini.

Moving Averages Offering a False Signal

Fri, 03 Jul 2009 14:15:42 -0400

I've been a technical trader for three decades.
This is a very well written piece.
Moving averages are but one of many helpful tools.
When the 50 crosses the 200 & vice verca , the Dow Jones is merely telling you ; "Pay attention!".
A combination of a multiple of technical tools that agree with or confirm each other {that the technical trader is proficient with and has a high degree of confidence in using }confirming signals is how you do a complete analysis.

My compliments to Sean Hannon, ...writing about technical analyis is like Michelangelo writing about sculpting.

Bill Gross: Dividend Stocks and Bonds Make Most Sense Now

Fri, 03 Jul 2009 13:10:34 -0400

Gross predicted a bear market for long term treasuries for the entire Bush Administration and kept his clients in the short end thus missing 8 years of a great big bull market.

Bill Gross is the Obama Administrations "Minister of Financial Propaganda" in the tradition of Josef Goebbels.

He is pimping for the U.S. Treasury auctions of $1.8 trillion.

When the economy turns there is 2 years of pent up demmand , inventories that have been worked off, labor that has been let go, and capacity utilization that is all geared up for Armegeddon which will cause price increases and ultimately price gouging once the American consumer is given the signal that "the coast is clear."

On Jul 02 02:41 PM SW Richmond wrote:

> Bill Gross checks in to reinvigorate deflation-thesis, help stick-save
> the Treasury market one last time, and generally talk his book. Spare
> me.
>
> Treasuries are the final bubble. Ever since the recent Treasury market
> dustoff, with yields on the ten-year rapidly rising and foreign buyers
> getting nervous, we've seen a rising drumbeat of articles, pundits
> and discussions about deflation. Deflation-thesis is the only antidote
> the Fed and its lackeys have for the obvious inflationary implications
> of the Treasury's borrowing needs going forward.
>
> Nearly all "news", pronouncements by co-opted insider pundits, MSM
> blather, currency discussions, tax hike talk etc must be understood
> within the context of its effect on saving the Treasury market.

>
> When the Treasury market blows up, you'll know.

It Isn't Just Location: Housing and the Economic Recovery

Fri, 03 Jul 2009 12:57:12 -0400

so much for "quick read"

Did you finish War & Peace " on the toilet?

Why the Dow Is Headed to 6000

Wed, 01 Jul 2009 18:03:03 -0400

yes
on the weekly chart it's clear as a bell

On Jun 30 10:44 AM root wrote:

> Has anybody noticed the head and shoulders pattern emerging in the
> chart of the dow?

NYSE 'Volume' Lowest Since January 5

Tue, 30 Jun 2009 13:28:16 -0400

I spent 15 years of my life on the hardwood in the Treasury bond pit at the Chicago Board of Trade.

Rule #1 never sell a quiet market.

Rule # 2 don't get too excited about a summer market, wait till the kids go back to school.

U.S. Banks Halt New Mortgage Lending

Tue, 30 Jun 2009 13:05:54 -0400

Mr Nielson is right on the mark.

To bolster his arguement I would also like to add that appraisers are comming into transactions that have already occurred , where the buyers and sellers and their real estate and financial professionals have agreed on price and terms and killed the transactions in the 11th hour and 59 seconds.

"The truth is that the U.S. financial crime syndicate appears to be quite content to allow foreclosures to continue to mount, while it secretly accumulates millions of pieces of properties for next-to-nothing. Thus, the game-plan is to pretend to lend to Americans – in order to delay any meaningful assistance, and maximize the number of Americans who lose their homes"

The evil that has been perpetrated upon America by these banksters is pre meditated, Machevellian , on going and designed to destroy the Baby Boomer generation. The only way to stop it is with armed insurrection.

www.crisisbydesign.com/

U.S. Banks Halt New Mortgage Lending

Tue, 30 Jun 2009 12:55:16 -0400

You also have appraisers that are actively sabbotaging done deals , completed transactions.

On Jun 30 11:18 AM 20dollar wrote:

> True, if it is not Fannie, Freddie or FHA, banks are extremely conservative
> with their lending.
>
> I am a Real Estate investor of 25 years. I am perfect in every way
> on paper (800+ FICO, plenty of documentable income, a lot of liquid
> cash in the bank, and a very strong net worth). On a good day I am
> lucky to get 65% LTV (non Fannie, Freddie, FHA) on a non owner occupied
> property. (banks really don't like these as they are perceived to
> be risky)
>
> I used to have personal relationships with 9 different banks. Because
> they knew me, they were able to lend to me on reasonable terms. Now,
> out of the 9 that I have done business with for over 20 years, there
> are only two that will work with me. (or at least quote terms that
> are not laughable) That's how bad things really are.
>
> Wells Fargo out the blue took away a large credit line recently.
> Their reason? "For my protection as a customer" You have got to be
> kidding me!
>
> I called them and got the run around. They informed me I could re
> apply! Again, mind you I am perfect in every way and have never ever
> been late on a payment to anybody EVER IN MY LIFE!
>
> Then the same crap just happened with Inter Bank. They took away
> a substantial line of credit from me for no reason. Got the same
> run around from them!
>
> So against my better judgement I have maxed out my additional credit
> lines with the big banks-Chase, Bank of America, US Bank before they
> take them away as well (I will say right now they are cheap-they
> are all indexed with prime). I have not done this with the smaller
> local lenders that know me however. I have been assured by the president
> in both cases, they would NEVER pull a stunt like that on me-but
> I'm not holding my breath.
>
> This why the economy is in the tank!

Why the Dow Is Headed to 6000

Mon, 29 Jun 2009 18:39:21 -0400

8,529 Serge - up again.

They're coming for equities because it is crystal clear these companies will still be arround after regieme change regardless of the color of the new currency.

Questioning Conventional Wisdom on Credit Default Swaps

Fri, 26 Jun 2009 13:25:31 -0400

JUNE 26, 2009 Gensler Says Derivatives-Dealer Oversight 'Critical' to Obama Plan

Mr. Gensler worked with Sen. Phil Gramm and Alan Greenspan to exempt credit default swaps from regulation, which led to the collapse of A.I.G. and has resulted in the largest taxpayer bailout in U.S. history. He supported Gramm-Leach-Bliley, which allowed banks like Citigroup to become “too big to fail.” He worked to deregulate electronic energy trading, which led to the downfall of Enron and the spike in energy prices.

CDS & Systemic Risk
"While an argument can be made that currency, interest rate and energy swaps are functionally interchangeable with existing forward instruments, the credit derivative market raises a troubling question about whether the activity creates value or helps manage risk on a systemic basis. It is my view and that of many other observers that the CDS market is a type of tax or lottery that actually creates net risk and is thus a drain on the resources of the economic system. Simply stated, CDS and CDO markets currently are parasitic. These markets subtract value from the global markets and society by increasing risk and then shifting that bigger risk to the least savvy market participants.

Seen in this context, AIG was the most visible "sucker" identified by Wall Street, an easy mark that was systematically targeted and drained of capital by JPM, GS and other CDS dealers, in a striking example of predatory behavior. Treasury Secretary Geithner, acting in his previous role of President of the FRBNY, concealed the rape of AIG by the major OTC dealers with a bailout totaling into the hundreds of billions in public funds.

Indeed, it is my view that every day the OTC CDS market is allowed to continue in its current form, systemic risk increases because the activity, on net, consumes value from the overall market - like any zero sum, gaming activity. And for every large, overt failure in the CDS markets such as AIG, there are dozens of lesser losses from OTC derivatives buried by the professional managers of funds and financial institutions in the same way that gamblers hide their bad bets. The only beneficiaries of the current OTC market for derivatives are JPM, GS and the other large OTC dealers" David Fuller

Goldman Analyzes Its Risk Exposure

Tue, 23 Jun 2009 12:33:46 -0400

They missed one.

1) All risk managers must have achieved puberty

Fledgling Conflicts of Interest at Nouveau Rating Agencies

Mon, 22 Jun 2009 15:50:05 -0400

Well, if you thing we were tough on Larry Summers last week, then be sitting in the Senate Banking Committee's hearing room later today when we remind the members that it was Larry Summers, Alan Greenspan and Robert Rubin who smeared the reputation of then-CFTC Chairman Brooksley Born and the other members of the Commission a decade ago to prevent federal oversight of OTC derivatives.

We wrote about this issue last year in The IRA: "The Subprime Three -- Rubin, Summers & Greenspan', April 28, 2008" It is high time that the Congress compelled a public explanation from these three men, all of whom were in public service at the time, for their actions regarding OTC derivatives. We're not looking for sanctions or prosecution, you understand, just to complete the public record.

Click here to read the written testimony by IRA co-founder Christopher Whalen for the hearings today before the Senate Banking Committee on the subject of "Over-the-Counter Derivatives: Modernizing Oversight to Increase Transparency and Reduce Risks."

Fledgling Conflicts of Interest at Nouveau Rating Agencies

Mon, 22 Jun 2009 14:33:52 -0400

Conflict of interests at ratings agencies, crushing competition at banks that have far superior buisness plans despite Basel II instructions to leverage realestate with no bank capital and reserve requirements ; ........naw none of these things have anything to do with Banksters hijacking Americas' government.

www.sltrib.com/busines...
"Obama wants to eliminate industrial banks"
"Goldman Sachs on pace for record bonuses"
www.reuters.com/articl...

Fed Starting to Panic over TALF Collateral Concerns

Thu, 18 Jun 2009 13:57:24 -0400

HR 1207 Ron Paul’s Audit the Fed bill is now up to 258 cosponsors.

The White House, {in ' warp speed ' response to Rep. Paul's' populist move for Federal Reserve transparency} seeks to give the fed more power ,much more secrecy and also the full protection of the Executive Branch and Executive privilege ...... primary evidence that Banksters have already hijacked Americas government with their full frontal assault on U.S. Constitutional separation of powers and it's checks and balances .
----------------------...
In this issue of The Institutional Risk Analyst, we comment on the economic stability plan of Larry Summers and his plans for making the Fed part of the White House staff. We then feature a guest comment by Joe Mason on the Obama Administration proposal to fix the private market for securitizations.

us1.institutionalriska...

Comprehensive Plan for Regulatory Reform (June 17): New framework includes 1) The Fed as systemic risk regulator and creation of ‘council of regulators'. 2) Requires the originator, sponsor or broker of a securitization to retain a financial interest in its performance ('skin in the game'). Also regulate all financial derivatives for the first time. 3) Consumer Financial Protection Agency for strong investor protection and rules against predatory lending. 4) New resolution mechanism that allows for the orderly resolution of any financial holding company whose failure might threaten the stability of the financial system, including large hedge funds and major insurers such as AIG. 5) Lead the effort to improve regulation and supervision around the world
The Fed will retain day-to-day supervision of the largest bank holding companies - which the Bush administration had proposed taking away - and may become sole regulator. The Fed will also directly supervise non-bank financial companies that reach a size and complexity comparable to these banks. Fed is also likely to be given the final word on bank capital requirements, including a surcharge for the systemically important financial institutions. FDIC will receive a new non-bank/holding resolution authority. No federal insurance regulation but a national insurance office within the Treasury to gather information about the industry (Financial Times, June 1
www.crisisbydesign.com.../
Should be required reading for every American regardless of political party who is concerned about his country's future.
I've read "The Hidden Beginning" several times and completely concur with Mr Weisman.
It's all about bank capital and reserve requirements