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| User Info | More Bernanke Lies and Lawlessness: Bear Stearns in forum [Ticker] | |||
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Genesis Posts: 71435 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/983-Mo....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-23 15:21:46
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Curbyourrisk Posts: 1891 Incept: 2008-08-19 Long Island, New York
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We need a March on Washington. The "Million Patriot March" ---------- Hopium: hope filled delirium preached by the White House and Swallowed whole by the American Sheeple. Why is Franklin Raines a free man? "We saved the world from disaster" - Ben Bernanke - Jackson Hole 08/21/2009 
2009-04-23 15:40:37
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Bluebird Posts: 524 Incept: 2008-05-02 
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We need a March on Washington. The "Million Patriot March"...with Pitchforks,
2009-04-23 15:42:49
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Phirang Posts: 8824 Incept: 2008-10-25 
bar khoba's revenge
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ARMED marches. If there mercs are willing to shoot citizens in daylight, then we know what's up. ---------- The Treasury can issue debt on your behalf because the State can and will stomp the wealth out of you and your family.
2009-04-23 15:43:32
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Txin1880 Posts: 1270 Incept: 2009-02-25
Texas
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I wish this is what would be hammered into peoples heads! The heat needs to be squarely on .gov, they are the ones that abdicated their responsibilities, Congress, FED, SEC, FDIC, all ineffectual, complicit, spineless, useless. It's like installing fire alarms, using fire resistant materials, hiring 24 hr monitoring, funding a local fire department, hiring and training firemen, installing water mains to neighborhoods, and then your house burns down because they are all in the back room playing poker. OK, I suck at analogies. You get the point. ---------- Don't just starve the beast, slit it's throat. "Blow up your TV, throw away your paper. ~ John Prine
2009-04-23 15:48:05
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Greenrebellion Posts: 429 Incept: 2009-01-03
Los Angeles
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This is outrageous, the Fed is so out of line, yet no one is willing to step in their way.
2009-04-23 16:19:37
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Koaj Posts: 959 Incept: 2009-02-03
NJ Online
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We need a March on Washington. The "Million Patriot March"...with Pitchforks, ---- and torches still wondering why the Ken Lewis blackmail news isnt in huge letters on every single web news outlet maybe auditing the Fed through HR 1207 is the only way to slow them down. after the audit people will finally be outraged to demand an end to the Federal Reserve
2009-04-23 16:24:38
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Rutben Posts: 900 Incept: 2007-07-27
Phoenix, AZ
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Amen. I am rereading cause and effect of French Revolution, anticipating "possibilities" if things go "out of control". Guillotine is the default option although these cowards are not up to it. Cage match in a bowl of jello are about all Paulson and Bernanke could handle.
2009-04-23 16:31:05
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Escaping_east Posts: 107 Incept: 2009-04-19 Europe
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At the risk of sounding stupid but how does that technically work out as a loss for the taxpayer? -Fed prints money to buy assets -Fed overpays for those assets and loses money -Treasury has to step in and cover that loss? As I said somewhere else, I would really appreciate a whole ticket that deals with how these deals work on a technical basis, non-wonkish. I'd like to be able to explain this to other people. ---------- The problem with socialism is that eventually you run out of other people's money
2009-04-23 16:34:48
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Koaj Posts: 959 Incept: 2009-02-03
NJ Online
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escaping - others may do it better but i'll try -fed prints money out of thin air -fed loans money to the us treasury/taxpayer for government spending/stimulus etc and charges interest -fed is paid back through the income tax (no coincidence both came into being in 1913) i'm missing a few steps but this has been highway robbery for close to 100 years and it needs to end. at this point, the Fed is printing money to buy short term debt which is akin to a snake eating its own tail
2009-04-23 16:47:31
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Hihoherewego Posts: 595 Incept: 2009-02-25
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Quote:In his testimony Wednesday, Bernanke said he did not believe the central bank would lose money on the deal and said it could make money. He said he did not consider the transaction a bailout because of the losses sustained by Bear Stearns shareholders. That's all well and good because all this proves is that he 'believed' and that it 'could make money' and that he did not 'consider' the transaction a bailout. All his subjective opinion and not an absolute lie per se. Now where you get him by the short hairs is the disregard of the Reserve Act and then the constitution's appropriation origination only through purview of Congress. But as we all know they will hide under the guise of 'national security' and that any breaking of the law was done to prevent systemic meltdown. So what does a federal prosecutor have in his quiver that overrides a national security defense allowing prosecution of these people? I'd like to know.
2009-04-23 16:55:58
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Curious1 Posts: 251 Incept: 2008-03-22
Oregon
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Nothing will happen. We will continue to be looted by those in power. The beat goes on, the house always wins. Nothing to see here, move along please.
2009-04-23 16:56:00
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Vfl Posts: 147 Incept: 2009-03-19 Seattle Metro, WA
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Will Bernanke do the honorable thing and resign? Ur...... unlikely, not until he found out his solution to the current crisis is the source of the problem. Bernanke, meets arithmetic.
2009-04-23 17:00:31
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Crow Posts: 172 Incept: 2008-02-25
Canada
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Man, its just unbelievable. We can bend and break as many laws as we like cause we mess around with money, the world will end if we don't. What scares me most is that had the free market been allowed to work, despite the tankage we may well have been putting in a long term base around now that could last for generations. Talk about death by a thousand paper cuts. ---------- When does Keanu get here?
2009-04-23 17:02:36
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Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves.
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Koaj and escaping I think its like this: -Fed keeps the prime lending rate near zero for years, commercial banks borrow at the rate and use the loan amount as their "reserve" requirement at the Fed from which they can then create new loans at the required fractional reserve ratio of 10:1 -Banks and bezzlers make a bunch of nonsense loans to people who are really inadequate to paying the loans back all under the ARM's, Alt-A's etc. -Banks then pool the crap loans together in nice little bundles and sell them to each other on the stock market as quality financial instruments. -J6P investor wants in on the game since the funds looks good -Sideletters are issued between derivatives originators explaining to those in the "club" that the only purpose for the derivatives is for reckless speculation on the stock markets and no worries they will get bailed out if caught short. -Deliquencies begin cascading and the sweet financial instruments start to smell rotten -Fed plays the trump card and gets credit from .corpgov to cover bad bets, aka TARP -Fed also through the open market operations begins to buy said crap instruments at skittle face value. -Commerical banks who have sold skittles to the Fed then take that money from the "asset" sale and put the proceeds back into their kitty at the Fed for reserves so they can loan out another bunch of skunk loans at the 10:1 reserve ratio. Repeat steps above. EDIT: Of course they may have just used the TARP money to buy more secure investments, Treasuries, or to cover OTC bets amongst themselves. Not sure, I don't like Vegas either ---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke Last modified:
2009-04-23 17:49:11 by statusquojoe
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Ghostcrab Posts: 86 Incept: 2009-04-17 Dallas/FtWorth Banned
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Here here. The million arms beared patriot march, the million man militia.
---------- "History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling the money and its issuance." - James Madison
2009-04-23 17:29:43
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Phirang Posts: 8824 Incept: 2008-10-25
bar khoba's revenge
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million man militia... then who is lord humungous?
---------- The Treasury can issue debt on your behalf because the State can and will stomp the wealth out of you and your family.
2009-04-23 17:31:00
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Ghostcrab Posts: 86 Incept: 2009-04-17 Dallas/FtWorth Banned
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ROFLMAO I just re-watched Road Warrior for the first time in like 10 years over Easter! The Lord Humungus' Speech http://www.youtube.com/watch?v=_TL4XZdyo.... Sorry if this post is off topic. I can't stop laughing. Good catch Phirang. ---------- "History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling the money and its issuance." - James Madison
2009-04-23 17:35:36
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Mouse Posts: 20 Incept: 2009-03-16 CA
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Quote:In his testimony Wednesday, Bernanke said he did not believe the central bank would lose money on the deal and said it could make money. He said he did not consider the transaction a bailout because of the losses sustained by Bear Stearns shareholders. What I found even more galling than Bernake denying that anything the Fed had done was a bailout was his repeated failure to answer important, relevant questions from Senators and Congressfolk by repeating "It wasn't a bailout. It was a loan." They'd ask him just about anything (e.g., where the money went, how it had been spent, as well as many other questions) and he'd answer "It wasn't a bailout, it was a loan" as if that completely absolved him from accountability and meant that he didn't need to answer their questions. It was a bailout. Congress knows it. The American people know it. We deserve answers. (Not that we're likely to get them.) Last modified:
2009-04-23 17:48:27 by mouse
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East2west Posts: 220 Incept: 2009-03-03
California
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And yet, tonight all the evening news shows will be focusing on Obama calling for new credit card regs. Cuomo's investigation of Paulson and Bernanke will receive, at best, a 10 second mention. The problem with this country is not ONLY the actions of our government officials. Rather, it is also that most Americans have NO CLUE of what has happened and is continuing to happen on a daily basis. That must change.
2009-04-23 17:50:03
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Mike57 Posts: 352 Incept: 2009-03-10 Bethlehem, PA.
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Why did nothing ever come of Warrens COP investigation where she claims that Paulson purposely overpaid for securities to the tune of 78 Billion Dollars. She's very carefull not to use the word fraud but giving away 78 Billion Dollars to your bankster buddies billionaire boys club and lieing to congress about what your doing just doesn't seem quite right. : http://cop.senate.gov/video/index.cfm#ta....
2009-04-23 17:57:34
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Ghostcrab Posts: 86 Incept: 2009-04-17 Dallas/FtWorth Banned
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E2W The media is as culpable in all this as the ratings agencies, the accountants, etc... etc... How many different companies is it that own the MSM outlets, and who are the companies owned by? Now that I would love to see a ticker on! ---------- "History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling the money and its issuance." - James Madison Last modified:
2009-04-23 18:01:43 by ghostcrab
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Hihoherewego Posts: 595 Incept: 2009-02-25
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What it will eventually boil down to is a citizenry war of The Smarters against The Stupids. Yup you could call it 'class warfare' alright but on steroids. West vs East, North vs South, that sort of thing. The Smarters or the Stupids as the case may be will only be able to take so much and then all hell will break loose. It will first come on a micro-scale, that is with towns, cities, so forth. Then it'll get more macro where entire certain Smarter-fortified states (think Montana, Idaho, Florida, those kindas) will get hardass on the Stupids. The Stupids will start by looting the sh*t out of everything and then setting fire to it. However bear in mind there that will be pockets of Stupids that set fire first and then loot. The Smarters will then respond by preventing such mayhem with whatever means necessary - you know, that unique sound a 12 gauge pump makes from up on a rooftop. The National Guard will provide back up until they no longer can and they say f*ck it, let it all burn down. Now we're talkin suburbs here too mind you. Of course the Smarters will highly resent this since they had their own money and livelhoods involved in the particular things getting burned down. Then as things get totally out of hand the fed gov steps in with a few Abrams and some as of yet undisclosed very high-tech crowd control 'devices' which kicks everyone's ass back in line. Everyone then feigns behaving for a little while until the next event and the process repeats until even the gov gets its ass kicked and then it ends up every Smarter and Stupid for himself. Yeah, then it's fu*ckin Mad Max. ps. Hey just in and coincidentally....somebody 'asks' for cigarette (ie., the asker couldn't afford a pack to begin with - possibly a proto Stupid?) and the guy (possibly a proto Smarter) who didn't hand over the cig fast enough from his burgeoning cig full pockets gets his ass beat in. Oh hell. It's the Haves vs the Have-nots already. http://www.breitbart.com/article.php?id=.... Last modified:
2009-04-23 18:49:12 by hihoherewego
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Templar223 Posts: 397 Incept: 2008-04-28
Champaign, IL
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Remove them? No. Jail them. John
2009-04-23 18:43:25
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Drake Posts: 939 Incept: 2007-07-27
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Nothing will be done. This is a corporatacracy!
---------- The wise are aware of their treasure, while fools follow their vanity. Reality is the murder of a beautiful theory by a gang of ugly facts!
2009-04-23 18:47:33
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