Surprise, surprise! Who Knew?!? I'm sure it has nothing to do with their alchemy powers over money creation and ownership of the Private Federal Reserve! Senator Admits That Bankers Own Capitol Hill Joe Weisenthal|May. 1, 2009, 6:53 ...More blunt was Senator Dick Durbin of Illinois who said, earlier this week: "And the banks -- hard to believe in a time when we're facing a banking crisis that many of the banks created -- are still the most powerful lobby on Capitol Hill. AND THEY FRANKLY OWN THE PLACE." http://www.businessinsider.com/senator-admits-that-bankers-own-capitol-hill-2009-5
achilles28, do you believe a grand scale nationalisation of the major US banks is still an option somewhere in the future as political capital to recapitalise these stocklisted banks will or already has evaporated? Thanks.
I doubt nationalization is in the cards as Banks won't relinquish control of the FED to Government. And Banks tell Congress what to do, not the other way around! When a person considers exactly HOW we got in this mess, getting out is beyond easy AND painless. Its all derivatives created by banks. Derivatives written on derivatives equate to leveraged losses many times greater than total money in existence. Bankers levered themselves so hard - that if wrong - Washington would be FORCED to bail them out. The solution is to nullify all CDS contracts written on a non-existent underlying. Meaning, credit default insurance is only sold against tangible underlying (1:1). Presto. Problem solved. Just nullify the contracts, return money on excess contracts. Thats it. Mortgage losses are nowhere near 13 Trillion - which has been loaned out or promised to banks to pay for phony "losses". In reality, there's some 1 trillion in mortgage defaults, and tens of trillions more written to insure those defaults, and on the companies who can't pay the insurance on the defaults they wrote! Its all a big fucking scam that could end tomorrow, but won't. WHY? TO KEEP THE CRISIS GOING. Bankers have never seen this type of money flowing onto their balance sheets. What we're also not being told is where the 13 TRILLION in bailout money to pay for "losses" has gone. In the market, when you lose a trade, somebody holds the other side, right? Somebody got the money you lost, right? Well, apparently in the world run by these criminals, a PAID LOSS on a derivatives contract goes NOWHERE. The Government took the loss through money paid to AIG, that went to.......nobody. Those hundreds of billions - in the ONE CASE of AIG - simply "vanished". In the context of everything we know so far, what does that tell you?