Old Tool can you translate this for me and tell me if it has anything to do with their reckless gambling addiction? And gambling and fixing the game aren't the same things are they?

Bank of America Trying To Stick Taxpayers With A $74 Trillion Bill By Moving Derivatives Into FDIC-Insured Accounts

http://crooksandliars.com/susie-madrak/bank-america-trying-stick-taxpayers-7

 

Once again those claiming that the Occupy Wall Street/99%er movement has no power nor real effect do so despite much obvious evidence to the contrary.

Protest causes GOP leader to cancel income inequality speech

http://www.rawstory.com/rs/2011/10/21/protest-causes-gop-leader-to-cancel-income-inequality-speech/


The sound of silence from the conservative/Republican/Tea Party is deafening.

 

I believe I have brought that up already...glad you read it...

Someone should have gone to Jail.

 

They are related because BofA's gambling tanked and they don't want to take the hit for their dumb-as-fuck decision-making. If they are successful in this maneuver, the taxpayers will be on the hook for every penny of this risk when it fails (and it will fail eventually). Of course they were only playing the game as set up by our political leadership - with full co-operation by both parties over a long, looong period of time.

 

What does Bank of America and St Patrick's school for orphans have in common....

They are both under funded non profit organisations.

 

Bullshit,,,it's the result of capitalism,,politics had nothing to do with this.

You know as well as I know,,BoA will pull this off.

 

I think Mr. Giannini would howl at what has become of his vision of banking for the people. What a disgrace!

 

It's true that Amadeo might be more than a little bit upset, but he too is culpable. He started the ball rolling with the creation of holding companies like Transamerica which facilitated the interstate banking system and the conglomerates that we have today. He lobbied for the federal laws which allow the banks like B of A to operate under the radar.

I don't doubt for a minute that he would not have wound up in the same mess that Moynihan has.

 

Screw that. I take it back.

I did read that statement (bold above) in a reputable newspaper last week, but I no longer believe it.

Polls of Occupy Wall Street rally participants must be distorted by plants and workers who are dropping by the sites on their lunch breaks.

The hardcore nutcases in the bugaboo tents are not workers, by and large. They are losers.

A couple days ago a Boston talk radio host dropped in on the Occupy Boston encampment at the crack of dawn and interviewed OWS campers as they emerged from their Obamavilles and fired up their Coleman stoves.

Every person interviewed was homeless.

One young male camper speculated that the city might allow them to dismantle the tents and erect more permanent housing. (On the Greenway, a public park that the entire country has paid for, with Federal Funds, as part of a phenomenally wasteful, $17 billion project called the Big Dig.)

Two thirds of them believe that the Rothschilds run the world's banking system and espouse the Zion conspiracy.

I know this does not constitute a scientific poll... but the radio host had trouble finding anyone at Occupy Boston, at six in the morning, who was both coherent and who did not want the filthy Jews skinned and turned into lampshades.

So, I've changed my mind about that, too. Someone will have to convince me that OWS is not packed to the rafters with daffy anti-Semites. Until that happens, I will remain convinced that OWS is nothing but a bunch of ignorant bigots who think the Jews run the money, the government, Hollywood, media, and everything else they have either lost or never had in the first place.

Maybe George Soros is the man behind the curtain, and while I am convinced Soros is Satan's imp, he is certainly no fool. But the useful idiots in these encampments are not Soros, not by a mile, and they cannot begin to articulate the movement's goals and aims.

Losers. Losers, all.

*************

On another note, I haven't been here in awhile. Nearly 150 posts since I last chimed in, we are still beating up on Bank of America, the big-bank-boogeyman of all the disenchanted, dispossessed, and disenfranchised.

I suppose it has escaped everyone's attention that the Robber Baron of the 21st Century, Bank of America, has been beaten so badly by the markets, by Frank-Dodd, by Durbin, by the Countrywide fiasco, and by a host of lessers ills, that it is no longer the country's biggest bank???

That's right. JP Morgan/Chase is now the biggest bank. JP Morgan/Chase has not overextended on mortgage backed securities. JP Morgan/Chase did not receive TARP funding. JP Morgan/Chase was not forced to buy Countrywide, by Friend-of-Angelo-Dodd.

Who is the boogeyman, now?

Still BOA? We still gonna get blood from that stone?

According to Dagney Taggart in Ayn Rand's Atlas Shrugged, the next move of the government will be to cripple JP Morgan/Chase, because BOA, Citi, and Wells Fargo are in need, and will all have to be protected against stronger foreign competitors, such as Toronto Dominion. BOA has needs, and JP Morgan/Chase has the ability to help. Therefore they will be made to help. Or else. And should they fail to do the impossible, they will be demonized, too. As enemies of the People.

Just like BOA.

But that can't be right. It's not the government's fault. And besides, Atlas Shrugged is just a crappy book written by a bitch who was all wrong. Right?

(giggle)

 

And one more thing....

No. I have not yet read the Angiledes report.

But at this point I don't think it matters. No one really cares what caused the housing crisis.

They just want houses.

For free.

 

you are so full of shit.....

But how did they do it....they floated an additional stock offering raising the money from the public and diluting the stock.

They are still borrowing at the Fed window for .0025 and loaning on credit cards at 22% and prime loans at 5.5%.....

yep real heroes you have there...

 

this is worth a 2nd read

 

here is your Jp Morgan Chase again....

http://www.cbsnews.com/stories/2011/10/19/ap/business/main20122589.shtml

 

y

I am not "so full of shit." I am merely mistaken. I wonder why. I definitely do recall having read that JP Morgan did not receive TARP money, but it must have been bad information. Now I have to go back and find out where I read it, because I am P.O.'d.

In any event they are certainly not my "heroes," and they most certainly are the biggest American bank. And as the biggest American bank, they are now in the hot seat.

Which is troubling. Because if your information is correct, they might not be all that healthy, either.

Yep, here it is. WSJ, October 17. I got it wrong. In fact they did not need TARP funds, but were forced by the government to take them, and paid them back in full:

The question is, outrage at whom? On Wednesday, Occupy Wall Street marched on J.P. Morgan Chase's headquarters, after having protested outside CEO Jamie Dimon's home the previous day. That's odd, seeing that J.P. Morgan didn't take on excessive mortgage risk and didn't need (although it was forced to take) TARP money.....
​

And as you've pointed out, JPM/Chase did pay back the funding in full. In fact they did it ASAP, to get the government out of their boardroom, because they were not over-exposed by toxic mortgage backed securities.

So I got it wrong, but not by much. The point I was trying to make is that JPM/Chase will now become the target of government interference, because it has the ability to be. And in fact, as the above episode demonstrates, this has already been the case since 2008/2009, due to the fact that JPM/Chase is a strong bank and has the ability to be targeted.

 

(sigh)

Old news. Every major bank has been hit by these suits. Most of them are settling, because they are already on the ropes. But each and every one of the defendants has maintained innocence of the charges.

Follow the money.

The suits are politically motivated, in order to exculpate the buyers of the securities.

Who are the buyers? And who are their underwriters?

I know who the buyers are, and I suspect that you do, too, Randy. We know whom the suits exculpate, and therefore we know why the suits were brought.

And the suits are not mentioned in the Angiledes report.

I hear Ayn Rand laughing again, from the grave.

 

--------------​

JPM vs. S&P 500​

BankName (city, state)Consolidated assets​

1.Bank of America Corporation (Charlotte, NC)$2,340,667,0142​

J.P. Morgan Chase & Co. (New York, NY)$2,135,796,000​

Citigroup Inc.(New York, NY)$2,002,213,000.​

Wells Fargo & Company (San Francisco, CA)$1,223,630,000​

.Goldman Sachs Group, Inc., The (New York, NY)$880,677,000​

Morgan Stanley (New York, NY)$819,719,000​

Metlife, Inc. (New York, NY)$565,566,452​

8.Barclays Group US Inc. (Wilmington, DE)$427,837,00
09.Taunus Corporation (New York, NY)$364,079,000
10.HSBC North America Holdings Inc. (New York, NY)$345,382,871
11.U.S. Bancorp (Minneapolis, MN)$282,428,000
12.PNC Financial Services Group, Inc., The (Pittsburgh, PA)$265,432,977
13.Bank of New York Mellon Corporation, The (New York, NY)$220,966,000
14.Capital One Financial Corporation (Mclean, VA)$200,707,587
15.Ally Financial Inc. (Detroit, MI)$179,428,000
16.Suntrust Banks, Inc. (Atlanta, GA)$171,796,255
17.BB&T Corporation (Winston-Salem, NC)$163,700,076
18.TD Bank US Holding Company (Portland, ME)$154,722,170
19.State Street Corporation (Boston, MA)$152,881,394
20.Citizens Financial Group, Inc. (Providence, RI)$143,962,035​

Read more: United States' Largest Banks — Infoplease.comhttp://www.infoplease.com/ipa/A0763206.html#ixzz1bYkQTyOR​

 

Fuck you they are all crooks...June is old news....

JPMorgan Chase & Co. resolved similar charges in June and paid $153.6 million.

 

Randy!!! And now I'm po'd at you, you disingenuous little shit!

Yeah, JPM/Chase got TARP money, and yeah, I was wrong about that. But they were forced to take the money by the government, and just how and why was that?

The government forced JPM/Chase to take the $26 billion that was allocated to Bear Stearns, when they were forced to buy Bear Stearns!

(source CNN TARP-tracking project)

And if you knew that when you made your post? What does that make you? A poopyhead, that's what! Poo on you!

(Honestly, I am not a finance expert. I just read the papers every day. I seldom take notes, and I often skim. Sometimes I get it wrong. But not by much, it seems.)

 

No, no. Old news that they were all sued.

Listen, I don't love JPM/Chase. They're not my heroes. All I'm saying is that now with BOA in the tank, JPM/Chase is fucked. That's all.

 

FUCK all major corporation banks. They are all scumbags who think they can do whatever they want, you want to really show them whats up? Take your money out and switch, you shoulda seen the looks on the faces when I walked into Wells Fargo and 3 family members plus myself withdrew all our money, they barely had enough to cover it, which proves to me if there is ever a financial disaster and a lot of people try to withdraw their money you aren't going to get it.


From now on I am keeping most of it in a safe, guarded by my 2nd amendment, and the rest is going to a credit union, that doesn't have ATM fees (booya) has lower interest rates and a friendlier english speaking staff.