The Secret Bank Bailout

There's one method that the Federal Reserve has been employing to shovel money to the bank elite that is rarely mentioned, though I hear the sums that have been shoveled are in the billions and they are showing up on the books of firms like Goldman Sachs as pure profit. It's really pure scam.

Here's what went on for months, according to traders familiar with the situation.'

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Elizabeth Warren: "Just Take It," Said Hank Paulson to the Banks

Bank of England Makes £1billion Profit from Bailouts

The Bank of England revealed yesterday that it had racked up record profits of almost £1 billion in the year to February as its fee-earning activities burgeoned amid the global financial and economic turmoil.

During a crisis that has brought some of the mightiest forces in global banking to their knees — and some to collapse and oblivion — the Bank emerged as having thrived while famed commercial institutions foundered.

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Credit Card Companies Piling on Fees, Raising Rates Ahead of New Federal Rules

It appears that credit card issuers are insisting upon exercising their right to abuse their customers in the name of higher profits. A survey of recent activities by the top eight credit card issuers reveals that since the Federal Reserve announced rule changes designed to curb unfair credit card industry practices last December, the companies have implemented even more onerous practices, raised interest rates more aggressively and increased the number of fees that they can impose on their customers.

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Stress Tests Show 10 Big Banks Must Raise Total of $75 Billion

Three months of intense anticipation ended Thursday when the Obama administration said stress tests found that 10 of the largest U.S. banks will have to raise a total of $75 billion to prepare for losses that could come from a deepening recession.

Bank of America (BAC) will have to raise $33.9 billion; Wells Fargo (WFC), $13.7 billion; GMAC (GJM), $11.5 billion; and Citigroup (C), $5.5 billion, in the next six months. The results culminated an unprecedented process by the government to test the top 19 banks that control two-thirds of the nation's financial assets.

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So another bailout is looming then!

Chrysler Declares Itself Bankrupt

America's third-largest car manufacturer, Chrysler, has declared itself bankrupt after a handful of creditors withstood pressure from the Obama administration to forgive billions of dollars in debt, casting a cloud of uncertainty over tens of thousands of jobs at factories, suppliers and dealers.

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A Fraud That Makes Madoff Look Small Time

Since Bernard L. Madoff was handcuffed and taken from his office by FBI agents, we have been made well aware of the nature of Ponzi schemes, fraudulent investment opportunities that pay off early participants with money from newcomers, not from returns on legitimate stock or bond holdings. Mr. Madoff, once a highly respected member of the Wall Street establishment, has admitted to defrauding investors of as much as $50 billion in such a manner. When asked by the agents who arrested him if he could explain what he'd done, he reportedly said, "There is no innocent explanation."

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The Free Market, Financial Style - How the Scam Works

Newspaper reports seem surprised at how high banks are bidding for the junk mortgages that Treasury Secretary Geithner is now bidding for, having mobilized the FDIC and Fed to transfer yet more public funds to the banks. Bank stocks are soaring – thereby bidding up the Dow Jones Industrial Average, as if the “financial industry” really were part of the industrial economy.

Here’s the rip-off as I see it. For an outlay of $750,000, the bank rids its books of a mortgage worth $2 million, for which it receives $4,250,000. It gets twice as much as the junk is worth.

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Darling Rejects bankers Pay Cap

Alistair Darling has refused to cap the level of pay and bonuses handed to the bosses of Britain's bailed-out banks because of the dent it would make in Treasury coffers.

The Chancellor told MPs yesterday that while the Government was keen to take action on excessive remuneration in the financial sector, he added his view was "double-edged" because a strict ceiling would leave a black hole in tax revenues.

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Stop Paying Taxes Lawfully

Another Twist for the Unemployed: Debit Card Fees

If you're out of work like Steve Lippe, who was laid off from his job as a salesman in January, you know you already have problems. But looking at the fine print that came with his new unemployment debit card, he became livid.

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Treasury minister who approved Sir Fred's pension has £100,000 RBS pot of his own

Lord (scumbag) Myners laughing all the way from the bank!

He has faced a barrage of criticism over his involvement in agreeing RBS chief Sir Fred Goodwin's £700,000 pension.

And now it has been revealed that Lord Myners is himself drawing £100,000 a year in retirement income from a company linked to the nationalised bank.

The Labour City minister's £99,800-a-year pension stems partly from his time as a director with NatWest, which RBS bought in 2000.

Tory MPs are now raising questions about the extent of his personal knowledge of RBS's pension scheme.

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What's Dead - All of It

Just so you have a short list of what's at stake if Washington DC doesn't change policy here and now (which means before the collapse in equities comes, which could start as soon as today, if the indicators I watch have any validity at all. For what its worth, those indicators are painting a picture of the Apocalypse that I simply can't believe, and they're showing it as an imminent event - like perhaps today imminent.)

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If you only read one article here today make sure it's this one!!!

Watchdog Lifts Lid on Shadowy Bank Umbrella Body UKFI

A parliamentary watchdog lifted the lid yesterday on the shadowy government organisation that will manage taxpayer-owned stakes in British banks.

The chairman and chief executive of UK Financial Investments (UKFI) told the Commons Treasury Select Committee that the banks’ umbrella body operates from a small room in a Treasury building in Westminster with no more than a dozen employees.

Glen Moreno, UKFI’s acting chairman, who is also the chairman of Pearson, the media business, said: “This company operates in a room smaller than a bank chief executive’s office. Its chief executive makes less — if the press is to believed — than John Thain’s [former chairman of investment bank Merrill Lynch] chauffeur did last year.”

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Glen Morino, Chairman of Pearsons Media Group, who sits on its board of Directors alongside David Bell of the Financial times and Chairman of Common Purpose International, and many other 'Banking Directors'

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JP Morgan Chase Continues Foreclosure Proceedings Despite Promised Freeze

Can we trust the banks? I guess we are leaning the answer to that question - or we will soon enough. As part of the Fighting for Our Homes Campaign, we documented the story of Gaila, who is being foreclosed upon by wholly-owned JP Morgan Chase subsidiary, EMC Mortgage. Gaila said an eviction notice was posted on her property this past weekend - while the supposed 'freeze on foreclosures' was in effect. In Gaila's case however - betraying the 'freeze' is a minor offense compared to the havoc JP Morgan Chase's EMC is wreaking across the country.

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Lloyds Chief Executive in Line For £10 Million Payout

Mr Daniels signed a new contract last month which makes him eligible for cash and share bonuses worth up to £8.27 million in 2009 - on top of his £1.035 million basic salary.

Lloyds claimed last night that the Treasury had been "consulted" over the deal sparking accusations that Alistair Darling is failing in his pledge to rein in banking bonuses. The new pay package will be announced in the bank's annual report to be published next month.

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When will you realise that the money grabbing batards will not stop ripping you the tax payer off till you get off your arse and do something - Peacefully!

Yes we are Raging - Against a Government That Spies on its Citizens While Ignoring the Crimes of Greedy Bankers

Today one of Britain's most senior police officers with responsibility for public order raises the spectre of a 'summer of rage', with victims of the increasingly bitter recession taking to the streets in possibly violent protest.

Superintendent David Hartshorn, who heads the Metropolitan police's public order branch, warned that law-abiding middle-class individuals who would never have considered joining demonstrations may now seek to vent their anger through protests this year.

Many will consider such a scenario unlikely, or point out this has not been the 'British way' over the past two decades.

Violent protests take place in Europe - in recent weeks Greek farmers have blocked roads over falling agricultural prices, a million workers in France took to the streets to demand greater protection for their jobs and wages and Icelandic demonstrators have clashed with police in Reykjavik - but not here.

But can we really be so sure? The public's rage with the banks and the Government is growing by the day.

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Homes of Minnesota Politicians Vandalized for Supporting the Fraudulent Banker Bailout

Six Minnesota politicians who each supported the fraudulent banker bailout, robbing the U.S. taxpayers of $5 trillion dollars got a wake up call Wednesday morning when they awoke to find spray painted warnings on the side of their homes and garages.

Unknown person(s) spray painted: Scum, Criminal, Traitor, Fraud, U R A Sellout, Psalms 2 and Resign on garage doors and the homes of Democrats and Republicans who supported the unpopular Wall Street Bailout sometime in the early morning hours of October 22nd.

In a bizarre twist of priorities the destruction of the U. S. economy and theft of trillions of dollars from generations of Americans is somehow insignificant compared to some minor vandalism on the homes of the gods.

The incident is being called disturbing, threatening, hateful, and terrorism. Local, state and federal law enforcement has been called upon to investigate. Too bad the people can’t get this level of response when Congress commits serious crimes against The Constitution.

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Nationalization: Code Word for Banker Takeover

It is now a mantra in the corporate media — the only way to fix the banking system is to “nationalize” the banks. “A touchy word has entered the public debate about the future of America’s economy. It’s a word that would shock the nation in normal times, but as even Republicans begin to whisper it, temporary ‘nationalization’ of troubled banks is increasingly seen as our last best hope for fixing our financial system,” declares Thomas Kelley, writing for Yahoo News.

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RBS: Give Us Back Our Money You F*ck*ng C*nts

ROYAL BANK OF SCOTLAND - Give Us Back Our F****** Money
by DontPanicOnline