What do you think? Would you actually vote for this farce that seems to me a little too much money for a little too many people that are all a little too rich?
I read an article lately about Washington Mutual's buyout by JP Morgan Chase. With gov't brokering, this company was saved from totally going under and it's depositors didn't have to worry about their money. The big thing for me is that we didn't have to use government money.
What struck me as abusive and one of the roots of the problem was that the current CEO (who's only been on the job 3 weeks) will walk away with a minimum of 11.1 million dollars. How does a struggling company hire someone with a multi-million dollar signing bonus? I sure wish when I started a job that they'd pay me even 10,000 dollars up front. "Nice work if you can get it", BUT if we bail out these companies; who is going to be paying those signing bonuses and severance packages? The American taxpayer. It's just NOT what I would call fair.
The everyday worker will lose their job or be laid off, the prices and bank fees will stay the same or be raised, credit card debt will continue to rise and people's bad debt will be sold to loan sharks for collection, and all the time we're paying to be treated badly. Does this sound fair?
Write your Congressmen and Representatives and let them know that you won't take it; you can't stand it; it STINKS! Let them know that elections are coming up and they will be held accountable for thier votes.
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The Financial Crisis
agbo ato
over the past two weeks I have listened in amazement to all the major news outlets tell the american
people they cannot possible understand what is happening on wall street.
we simple need to trust the people in charge
okay
but
I submit that the banking problem is not difficult to understand
it is in fact very easy to understand
and the reason no one is explaining what happened is because the country would be outraged
let me explain it
let me explain it with an example using simple numbers
lets say a bank has a millions on deposit
that means it can lend a million dollars if it secures collateral to secure the loan
so
in simple terms a bank that has a million dollars can offer loans for 100 homes worth 100,000 each
when you come in for the loan the bank pays either the builder or the former owner the $100,000 then
you pay back the loan with interest
the interest is the profit for the bank and as the bank makes loans the value of the banks stock goes up
based on the interest due
these loans are secure because if you default on the loan the bank can reposses your home and sell it to someone else and there is no threat to the original investiment
this process used to be strickly regulated by the federal government
then along came george bush
who said the banks don't need regulations
we will let them do whatever they want
and because mose bankers are white male republicans letting them do what they want will be good for the economy
so
the federal reserve bank which is a key player in all of this
said banks are now free to lay off their loans
what does that mean
it means if you go to a bank and ask for $100,000 the bank can pay the buyer or the previous owner
then they can sell the loan to a third party
so
using our original example
if a bank had a million dollars in deposits before george bush they could make 100 loans for 100,000 dollars
and the 100,000 dollars was secured by 100,000 worth of real property
with no regulations
the banks can now make unlimited loans and it does not matter how much money they have or how much collateral they have
what typically happened is the banks sold the loans to china
this means the bankers were paid the 100,000 by chinese banks plus half the interest and the chinese bank keep the other half of the interest
so for example a bank with a million dollars in deposits could easily make two million dollars in loans
the SEC removed its regulations of the banks so that the bank could say that it was worth two million dollars
which then doubles the value of the banks stock and most of that stock is owned by the bank executives
so what happened
the courts in the United States rules that laying off loans in this manor was illegal and that the second party bank (in this case the chinese banks) had no legal claim on the colateral for the loan
what does that mean
its real real simple
if you buy a home and the bank sells your loan and you stop payment on the loan the bank cannot
reposes your home you cannot loose your home no one can do anything about it
that is the current legal situation
okay
so that means chinese banks have close to a trillion dollars in worthless loans
based on the decisions of the courts those loans have no value
the reason they have no value is because the secondary bank cannot forclose on the home and take possession of the home based on failure to pay the loan
so
the banks sold china commerical paper that has no value
based on the laws of the united states when you sell something that has no value and you represent the
idea that what you sell has value you are committing a crime the crime is called fraud
what the banks did is no different then if I were to sell you the brooklyn bridge
same thing
so in very simple terms that everyone can understand dispite what the news tells us
every major banking institution in the country has committed massive fraud
fraud worth more than a $1000 is a felony punishable by ten years in jail
because home loans are typically for more than a $1000 every banker in this country
faces serious jail time
but only if the justice department has the courage to take action
in my experience the justice department takes the position that it is not possible for white republicans to commit crimes
the justice department beleives that criminal behavior is limited to non europeans
so dont expect any massive arrests
so what was it that congress wanted to do
banks stay in business by using their colateral to borrow money from each other
this is called luquidity
if the banks are holding worthless loans they have no collateral to secure their loans and the
banking business comes to a standstill
so congress proposed that the american people buy the worthless loans
what does that mean
it means the minute we buy them they will have no value
we will never recover the loss and the idiots who are telling us we will make money on the deal on lying
so why does congress want us to buy the loans
it means the banks can essentially committ fraud twice
they committ crime and then double their money by committing the crime twice
that is insane
so how did they propose to do this
one clause in the legislation said that the bank bail out could not be reviewed by the courts
this means the adminstration and congress joined hands to nulify the power of the courts
if you look at the US constitution is says that no two branches of government can unit to nulify the
power of a third branch of government
if the recent banking legislations had passed it would have effectively destoryed the US constitution
based on federal law any conspiracy to destroy the US consititution is considered a crime
the crime is called treason
so
based on the written laws of the United States and based on the fundamental principles of the US constitution everyone who voted for that legislation is guilty of treason
so that is the overview in broad strokes
but god is in the details
once you look at the details it becomes even more bizzare
the federal reserve banks controls the banking industry in america
they came up with this idea and they put the process in motion
they are the criminal masterminds who literally stole billions of dollars from innocent investors around the word
so who are these people
based on the laws of the United States it is illegal to reveal the names of the owners of the Federal Reserve b bank
it is illegal to publish their names and it is illegal to publish how much money they make
in other words it is a crime to identify the criminals
I am not joking
but the insanity does not stop there
the federal reserve bank has permission from the US government to print money
so the one trillion dollar bailout will not be paid by money from the US treasury
the US government will borrow the money from the Federal Reserve bank
which simple creates the money by pusing some buttons on a computer then we pay the bank interest
on lending us money that never existed has no backing and was simply created from thin air
so the bankers make money simply by printing money
when I was young the banks could only print money that was secured by gold
by Nixon took the dollar off the gold standard and now we print money whenever we need it
that is the reason for inflation
it is the reason why when I was young coffee was ten cents a cup and now its two dollars a cup
and here is the big kicker
the only thing we know about the federal reserve bank is that its true name is the bank of england
so
the unknown bankers who created this criminal conspracy made money on the original loans they made money selling the loans now they want to make money by having the taxpayers buy the worthless loans for a second time then they want to make money by lending us the money to pay for the worthless loans
yes that is what is happening
the US constitution says that the US government has the right to print its own money
but instead of doing this we pay the bank of england to print dollars
two presidents have tried to print money and shut down the federal reserve
they were
drum roll please
they were
abe linchon and John F kennedy
lucky break for the bankers that they did not live to implament their plans
so
what is going on here
the federal reserve banks used AIG to create the useless loans
AIG is the insurance company that the US taxpayers have already bailed out
so who is AIG
AIG board of directors George Bush Sr and Bill Clinton
which is why clinton is supporting mcain
why would he support mcain
the answer is simple
the banking fraud we are witnessing today happened twice in the past
the first time led to the great depression
the second time was the S&L scandle of the eighties during the reagan adminstration
the man held responsible for that massive fraud was John Keating
John had two partners who escaped prosecution
Jeb bush Georges brother
and
anothe drum roll please
John Mcain
so
we do know the name of one person who runs the federal reserve bank
lord Rothschild
for the past month his wife appears on Fox News every other day to tell us that she has switched her support
from clinton to mcain
of course she has
if mcain is president he cannot go after the bankers without exposing his own participation in a similar scheme twenty years ago
hello
so the news media tells us that the problem can be fixed by following the guidance of secretary paulson
okay
paulson was teh ceo of lehman brothers
he was knee deep in the fraud before coming to washington
when he left lehman brothers the company gave him a billion dollar bonus
that is one billion with a BEE for his role in selling the chinese worthless morgates
so what does this mean to you and I
george is paying for the way by borrowing 2 billion dollars a day from the chinese
the chinese have said you screwed us so no more loans
that means the federal reserve will print more money to make up for the loss
which means the dollar will be worth less and less
that fact that the dollar is worth less and less on the global market is the reason why the price of
gas is so expense and it is the reason why food is so expense
and nothing being done in washington is going to change that for the average person struggling to make ends meet
my estimation is this
the thirteen members of the federal reserve banks each made about 250 billion dollars each off this latest crisis
and it is against the law to know their names
if that doesn't make you just a little ticked off
check your pulse
and please correct me if I am wrong but none of this is hard to understand
ire
baba Awo Falokun
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