Obama bails out banks again. Bernanke is absolutely insane. B of A gets $75trillion of derivatives, JP Morgan gets $79trillion of derivatives gaurenteed by FDIC and Federal Reserve.
Fast and Furious was a Obama Admin giveaway of guns to Sinoloa drug cartel because the ATF, DEA, FBI and host of other alphabet agencies made no effort to track the weapons, they just "gave" them away. They kept the Govt. of Mexico in the dark about the whole operation besides making no effort to track the weapons. Obama Admin is carrying out warfare against the southern border states creating havoc there with weapons sales to drug cartels, war against the rest of the country by partnering with Sinoloa drug cartel to sell illegal drugs in the US and war with the country of Mexico by providing weapons to Sinoloa drug cartel that is openly at war with Govt. of Mexico.
Now, after supplying the Sinoloa Drug Cartel with weapons the Obama Admin. audaciously wants taxpayers to foot the bill for dog crap derivative debts cooked up by B of A and JP Morgan. They have intensified their financial WW3 against US taxpayers by throwing the debt onto taxpayers backs. More socialism for the banks. More looting of taxpayers.
Iceland refused to pay for the private (dog crap derivatives) debts of private banks and US taxpayers should do the same.
Article 1) Backstopping characterized : a direct transfer of risk to the taxpayer done by the bank without approval by regulators and without public input.
Article 2) William K. Black's perspective or how Wall Street TBTF banks are looting the taxpayer again.
"BAC’s answer is to “transfer” the bad derivatives to the insured bank – transforming (ala Ireland) a private debt into a public debt."
Article 3)Obama Govt partners with Fed and B of A to push $ trillions derivative debt onto taxpayer. William K. Black, Karl Denninger provide perspective.
Article 4) Occupy Wall Street is against looting of the taxpayer to pay private debts of private banks. Statements being drafted.
Article 5) Describes how the conniving influence of British oligarchy bankers and British monarchy convinced Wilson to back Federal Reserve Act of 1913 and its companion the Federal Income Tax Act (that was passed on September 5, 1913). Wellington House in London , the predecessor of Tavistock Institute had a hand in the propaganda effort to "mass brainwash" people and pass Fed Act.
"The deceptive language of the Federal Reserve Act was under the guidance of Bernays and Lippman who set up a “National Citizen’s League” with the notorious Samuel Untermeyer as its chairman, to promote the Federal Reserve Bank, that secured control of the people’s money and currency and transferred it to a private monopoly without the victim’s consent."
1) HOLY BAILOUT – Federal Reserve Now Backstopping $75 Trillion Of Bank Of America's Derivatives Trades
3)The Federal Reserve and Bank of America Initiate a Coup to Dump Billions of Dollars of Losses on the American Taxpayer
4)Occupy Wall Street May Address Looting by Bank of America and Federal Reserve