As forecast, the private NY Fed is preparing to unleash on their big Carolina-based competitor, Bank of America. They will stop and nothing to crush them and loot their assets, and they've already paid Congress and the President to do it.
Good luck to the People of North Carolina. Man, you are going to need it. That will teach you to spit in the face of the NY Federal Reserve bank cartel.
It is just beginning.
Won't they only be in trouble if mark to market returns?
ReplyDelete1000s of banks are in trouble whether they mark it or not, the mark-it knows.
ReplyDeleteBAC is special because they are a $3T prize ripe for Fed looting. They're about to get the Bear Stearns special.
The NY Fed views themselves as royalty. A huge North Carolina bank is an American menace. The Federal Reserve DESPISES America.
FDR,
ReplyDeleteWhat is your opinion of GE, and their continued survival?
My understanding is that they are in distress.
With Immelt on President Obama's Economic Recovery Council, and his being on the board of the New York Federal Reserve - it seems their position is a continued lock.
I have no positions on GE, but I had worked there mid-level sometime ago - hence, my interest in the subject.
Thanks,
Kiel
FDR
ReplyDeleteIs not Wells Fargo a nice fat hog ready for the processing plant, with all their bad mortgage loans?
It looks like the NY AG, Cuomo, is in on the action as well.
ReplyDeleteSovereign debt defaults beginning - where will it lead?
ReplyDeleteMy guess is short-term (months to years), propping with other fiat Euros or then Dollars as faith in or northern Europe's resolve in the Euro evaporates.
How long does this masquerade continue?
Eventually there is going to be he'll as all fiat fails, with US dollars last man in the boat.
Don't think it will be long enough for anybody's 30 year bonds to mature. And before the dollar collapses there will be worldwide conflict.
I'm going to guess within 3- 8years
It looks like Italy wants some too....
ReplyDelete"Italy’s financial police are seizing 73.3 million euros ($102 million) of assets from Bank of America Corp. and a unit of Dexia SA as part of a probe into an alleged derivatives fraud in the region of Apulia"
(from Bloomberg By Elisa Martinuzzi)
Did the fed frame Ken Lewis and BAC?
ReplyDeleteFDR- you just had to unleash cashzilla, didn't you? No worries, FAZ made me some money on my day off!
ReplyDeleteQuestion:
ReplyDeleteHow will the Fed seize the assets of these banks? Perhaps more importantly, what specific assets will they seize?
Has the Fed ever actually seized assets in its history? If so, when, where, and whose?
I don't dispute the possibility that the Fed may do this now, but it would be a more convincing claim if there is historical precedence for it.