Tag Archives: Occupy Wall Street

The Real Story of TARP, Bailouts and the Federal Reserve

The Real Story of TARP, Bailouts and the Federal Reserve

In spirited debates across the country, Occupy Wall Street needs to be explained to those that just are still asleep in America.

Occupy has been described as a movement that should have happened four years ago, but better late than never.  The movement is a peaceful refusal of what corporate America and Wall Street banks have done to the public in so many directions, people do not know where to begin. 

The Real Story of TARP, Bailouts and the Federal ReserveThe Real Story of TARP, Bailouts and the Federal Reserve

 

The beginning goes back to 2007 and this simple video explains why the anger continues to drive people into the streets in a show of a force that will not stop, will not be quiet and will not go away.

The Entire Story

The Real Story of TARP, Bailouts and the Federal Reserve

 

Wall Street stole and distributed the 27 Trillion Dollars – it was not just 750 Billion!

What about the rest of the story 27 Trillion Dollars, according to MSNBC, i thought it was only 700 billion?
The Federal Reserve sent the rest to banks and corporations around the world.

The Fed won’t tell us-they are a Private Bank.

The banks across the world continue to steal trillions in bonuses and dividends and are currently being bailed out in Europe where they are on the verge of collapse and meltdown.

How do they steal the money?

They use derivatives and credit default swaps.

What are derivatives and credit default swaps?

It is a bet.

Is that legal?

Yes.

So why is it stealing?

Because banks put them on their balance sheets as assets, or real money. Knowing they will default They take bonuses and dividends against these- and that is Fraud. Misallocation of funds, conspiracy to name a few.

Then when these stocks default the asset becomes toxic and worthless the bank is  then broke.
But the money is gone.

It gets worse. The banks across the world are intertwined and have tremendous exposure to sovereign defaults. They are swaps so if one country defaults it can spread like a disease to other banks across the world and you have another credit meltdown.

Will it come to America?

If it happens of course it will?

Why do they allow this and not arrest the bankers?

Bankers don’t go to jail, they own and run politicians who are just puppets for them.

But it goes beyond banks to corporations bribing politicians directly using the word lobbying instead of bribery.

The corporations get legislation passed that in some cases they help write, this legislation allows them to outsource jobs, benefiting from tax loopholes and offshoring and generally bringing down wages and limiting competition.

So the people vote but are not represented.

It sounds like the entire system is corrupt?

Yes. It is.

Why is this allowed?
Because the people are sleeping.

What can be done to stop it?

Maybe the Occupy Wall Street is the beginning of that.
We shall see.

 

 

Anger Banking-Occupy Wall Street Move your Money

Anger Banking-Occupy Wall Street Move your Money

Back in 2008 when the banks took advantage of lax regulations augmented during the Bush administration a movement called: Move Your Money sprang up as a reaction by the public. 

At that time, those who had faith in Big Banks, were joining a movement that at least gave some power back to the people, especially those who still had any money left after the Wall Street derivative scandal.

Move your Money consisted of a basic principal which is to move your funds to smaller, people based community and credit union banks. This revolution actually started four years ago by the people and is associated with Huffington Post CEO Adrianna Huffington on December 29, 2009.

The movement had petered out in the past few years but has been reborn with the people’s movement of Occupy Wall Street which was born of seething anger by Americans who are jobless and have been reduced to the economy of a third world country.

Anger Banking-Occupy Wall Street Move your Money

Anger Banking-Occupy Wall Street Move your Money

Over dinner the thought of hitting Wall Street where it hurts (the bottom line) and in a mass movement to move money from the large banks that perpetrated the fraud and into safer, ethical banks locally.The big banks thrive on using people’s money to make shady investments then turn around and take high roller risks, many of which are backed by bets against those investments. It is called covering both ends of the investment, win or lose the big banks make money, the customer loses theirs.

From 2007 Americans lost 16 trillion dollars in home ownership and wealth and in 2008 more were pushed into jobless poverty as a result of the Wall Street meltdown. Consumers at that time felt they could no longer trust their bankers and their government to protect them from criminal banking fraud. This resulted in four years of Americans feeling that the middle class workers are being forgotten, that their government has abandoned their needs and are playing politics with their lives.

The corruption continues today, October 2011 but now Occupy Wall Street protesters are living in their backyard, setting up tents, communication systems and declaring an occupation of where the thievery all began-Wall Street.

Anger Banking a phrase we coined, declares the outrage of Americans against big Wall Street banks that were once considered Too Big to Fail yet, they are not regulated in spite of the new financial reform bill passed finally in July, 2010.

The Dodd-Frank Bill also included a new Consumer Protection designed supposedly to end the gambling on Wall Street.  The bill was going to protect against more bailouts, protect consumers from shady financial deals by bankers and institute new laws on banks for credit card gouging which they are still doing today.

By the time Dodd-Frank was finalized the bill was so watered down, critics say that it is totally useless, does not solve the banking fraudulent practices and was a waste of time.

Last week the Bank of America and other banks following suit are raising or establishing new fees for the use of a debit card. The BOA stated this was because of the new regulations in Dodd Frank however it appears to be another gouging and more about higher profits for banks. The outrage has renewed the resurgence of Move Your Money as well, the fear that large banks will falter in the oncoming economic downturn globally.

The Occupy Wall Street has become a national movement growing bigger each day, louder and more a force to be heard going into the 2012 Election. The recession caused by a financial meltdown is deeper than any other recession and will take efforts from the government to reform the banking industry not using a bill with watered down rules that look like Swiss cheese with the loopholes and flaws.

 Anger Banking-Occupy Wall Street Move your Money

Anger Banking-Occupy Wall Street Move your Money

NYPD-Protecting the Bulls Balls

NYPD-Protecting the Bulls Balls

Only in America can New York Police Department get paid for protecting

the symbol of Wall Street which is:

 

Bulls Balls

They get paid to protect the balls of the bronze bull that has become a symbol for Wall Street. 

Only in America.

NYPD Protecting the Bulls Balls

 

Keepin

You would think Mayor Bloomberg could just put a blanket on that obscene statue that stands for greed, theft, corruption and fascism.

 

 

Feds Refuse Disclosure on Bailout

Feds Refuse Disclosure on Bailout

Secretary Henry Paulson first approached Congress with the bombshell that the US economy would come to an end, let alone the world if an emergency bailout was not forthcoming.
 
Paulson demanded total control of the funds, legal indemnity and in a secretive manner would not disclose who would receive the funds or what comprises the collateral.
 
 
Not one person appearing that day or several days later seemed to be bothered by these terms, and seemingly were so afraid of the sky falling -they went along with the plan to bailout Wall Street.
This timeliness of the bailout came in the middle of a Presidential election, when most people and politicians were distracted by the election and the subsequent infighting in both parties.
Two trillion dollars later, we are no closer to the truth and in fact if we were to know the truth there would be a run on the banks.
Feds Refuse Disclosure on BailoutFeds Refuse Disclosure on Bailout
There are no details on the collateral in spite of the agreements made in September that both Ben Bernanke and Henry Paulson would comply with the demands for transparency Americans do not know where the money is going, and nor does Congress.
 
Bloomberg News is requesting the details under the FOI Act and has filed a lawsuit in the federal court several days ago to impose full disclosure.
 
Since it is taxpayers money to begin with, there should be truthfulness in who is receiving these funds and under what terms. Barney Frank said the Fed’s disclosure is sufficient and that the central bank’s risk exposure is appropriate during these hard economic times.
Everyone states they want transparency but this is basically a wash on disclosure and that is not acceptable.
 
Updated Sept. 28, 2011
 
We all know now that the Wall Street bailout went to executives in the way of Christmas Bonuses, golden parachutes and huge salaries for CEO’s like Lloyd Blankfein who took home 68.5 million dollars in cash and equities in 2007. Blankfein later shopped for a 40 million dollar estate in the Hamptons, a 26 million dollar apartment in Central Park and sold his Nantucket property for sale at 55 million dollars.
 
Goldman Sachs had partners also that received huge bonus money worth 12 to 15 million dollars, as well 30,000 employees received 10.9 billion in pay and bonuses that year.
 
 
 
 
Basically, they took the TARP money and paid themselves richly, rewarding themselves for criminal behavior in manipulating mortgages and derivatives.We know now that only Bernie Maddoff was sent to prison for his crime of a ponzi scheme but no other CEO’s have seen a jail cell.
 
 
Today, people are out of work in greater numbers than in 2007 and a certain backlash has started with Occupy Wall Street which is spreading like a virus across the USA.

People are standing up to these Wall Street crooks, in a peaceful demonstration that demands they be removed and banks to be dismantled by the government, so that control of the US financial system will not be subjected to any further criminal schemes by these same CEO’s who are still in charge on Wall Street.
Feds Refuse Disclosure on BailoutFeds Refuse Disclosure on Bailout
 
Feds Refuse Disclosure on BailoutFeds Refuse Disclosure on Bailout