Tuesday
Dec012009
Elizabeth Warren: "Borrowing at 0% And Speculating With A Taxpayer Guarantee Is A Heck Of A Business Model
Video: Elizabeth Warren With Dylan Ratigan -- Aired November 19, 2009
Warren, head of the Congressional Oversight Panel shares her frustration with the gap between what TARP was supposed to be -- a help for the American taxpayer-- and what it has become: a swinging door of cash for Wall Street. And now Geithner wants TARP extended. Rubin, Summers & Turbo get spanked.
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Dec 1, 2009 at 10:00 AM
Reader Comments (5)
Bamboozled Generation Boozed, Banged
Tue Dec 1, 1:02 am ET
WASHINGTON (Reuters) – Millions of unemployed U.S. workers face sharply higher health insurance premiums and loss of coverage as temporary federal subsidies expire, a healthcare advocacy group said on Tuesday.
With the U.S. unemployment rate topping 10 percent, FamiliesUSA is urging Congress to extend a measure that helps laid-off workers maintain employer-sponsored health coverage with a 65 percent subsidy on their insurance premiums.
A report released by the group on Tuesday said without the subsidy, insurance premiums would consume a significant portion of monthly unemployment benefits and in nine states exceed the average jobless benefit.
http://news.yahoo.com/s/nm/20091201/us_nm/us_usa_healthcare_unemployed;_ylt=AuVIBFKNTE090ijvP0ZeODLGOrgF;_ylu=X3oDMTJ2ZWNhanZlBGFzc2V0A25tLzIwMDkxMjAxL3VzX3VzYV9oZWFsdGhjYXJlX3VuZW1wbG95ZWQEY3BvcwM3BHBvcwM3BHNlYwN5bl90b3Bfc3RvcmllcwRzbGsDam9ibGVzc2ZhY2Vl
Well far be it from me to oppose the desires of the United States government. Fuck them and fuck this country, I no longer give a shit. I've lived in Third World shitholes before and I know how to play this game quite well myself (blush). From now on count me among the enemies of this nation; count me among the likes of GW Bush & Hussein Obankster.
The Democrats plan to fix this. They plan to make it illegal to NOT pay $1,500 month for health insurance when you're unemployed. That should fix the loss of coverage part.
WHY ARE FUCKERS FOOLING US AGAIN?
BANKERS SCAMMED US AND FUCKING THUGS GOT BAILED OUT WE SUFFER UNDER THEIR TERROR TORTURE AGAIN...............
YOUR FUCKING CRIME=HIGH TREASON
Here is BANKER terrorists again:
Worse Than Enron?
by Nomi Prins
omi Prins is author of It Takes a Pillage: Behind the Bonuses, Bailouts, and Backroom Deals from Washington to Wall Street (Wiley, September, 2009). Before becoming a journalist, she worked on Wall Street as a managing director at Goldman Sachs, and running the international analytics group at Bear Stearns in London.
Wall Street’s big banks are playing dangerous new accounting games—and this time taxpayers are on the hook for hundreds of billions. Nomi Prins uncovers a scandal in the making.
Enron was the financial scandal that kicked off the decade: a giant energy trading company that appeared to be doing brilliantly—until we finally noticed that it wasn’t. It’s largely been forgotten given the wreckage that followed, and that’s too bad: we may be repeating those mistakes, on a far larger scale.
Specifically, as the largest Wall Street banks return to profitability—in some cases, breaking records—they say everything is rosy. They’re lining up to pay back their TARP money and asking Washington to back off. But why are they doing so well? Remember that Enron got away with their illegalities so long because their financials were so complicated that not even the analysts paid to monitor the Houston-based trading giant could cogently explain how they were making so much money.
The nation’s biggest banks, plumped up on government capital and risk-infused trading profits, have been moving stuff around their balance sheets like a multi-billion dollar musical chairs game.
http://www.thedailybeast.com/blogs-and-stories/2009-12-01/worse-than-enron/full
http://www.pushhamburger.com
Bernanke Secret plan and you are warned to prepare for survival
INTERNATIONAL TRADER PREDICTS UNMITIGATED TOTAL COMPLETE DOOM!!!
THIS IS JUST PART...
The following information may be the most important we have ever published. One of our Intel sources, highly placed in banking circles, tells us that on 1/1/10 all banks that have received TARP funds have been informed by the Federal Reserve that they must further restrict any commercial lending. Loans have to be 75% collateralized, 50% of which has to be in cash, which is a compensating balance.
The Fed has to do one of two things: They either have to pull $1.5 trillion out of the system by June, which would collapse the economy, or face hyperinflation. This is why the Fed has instructed banks to inform them when and how much of the TARP funds they can return. At best they can expect $300 to $400 billion plus the $200 billion the Fed already has in hand.
We believe the Fed will opt for letting the system run into hyperinflation. All signs tell us they cannot risk allowing the undertow of deflation to take over the economy. The system cannot stand such a withdrawal of funds. They also must depend on assistance from Congress in supplying a second stimulus plan. That would probably be $400 to $800 billion. A lack of such funding would send the economy and the stock market into a tailspin. Even with such funding the economy cannot expect any growth to speak of and at best a sideways movement for perhaps a year.
We have been told that the FDIC not only is $8.2 billion in the hole, but they have secretly borrowed an additional $80 billion from the Treasury. We have also been told that the FDIC is lying about the banks in trouble. The number in eminent danger are not 552, but a massive 2,035. The cost of bailing these banks out would be $800 billion to $1 trillion. That means 2,500 could be closed in 2010. Now get this, the FDIC is going to be collapsed before the end of 2010, which means no more deposit insurance. This follows the 9/18/09 end of government guarantees on money market funds. Both will force deposits into US government bonds and agency bonds in an attempt to save the system.
This will strip small and medium-sized banks and force them into shutting down or being absorbed. This means you have to get your money out of banks, especially CDs. We repeat get your cash values out of life insurance policies and annuities. They are invested 80% in stocks and 20% in bonds. Keep only enough money in banks for three months of operating expenses, six months for businesses.
Major and semi-major banks are being told to obtain secure storage for new currency-dollars. They expect official devaluation by the end of the year.
We do not know what the exchange rate will be, but as we have stated previously we expect three old dollars to be traded for one new dollar. The alternative is gold and silver coins and shares. For those with substantial sums that do not want to be in gold and silver related assets completely you can use Canadian and Swiss Treasuries. If you need brokers for these investments we can supply them.
The Fed also expects a meltdown in the bond market, especially in municipals. Public services will be cut drastically leading to increased crime and social problems, not to mention the psychological trauma that our country will experience. Already 50% of homes in hard hit urban areas are under water, nationwide more than 25%. That means you have to be out of bonds as well, especially municipals.