teomaxxx

you US guys remember the 160 billions you are on the hook for bailing out uncovered bets of AIG in the form of credit default swaps? prepare to pay some more, they made shitload more insurance without having a single buck to cover it.


http://market-ticker.org/archives/12...Continues.html
AIG: The Looting Continues
No wonder The Fed was threatening Congress when asked about audits - it might expose the underlying realities of something like this:

European banks including Societe Generale SA and BNP Paribas SA hold almost $200 billion in guarantees sold by New York-based AIG allowing the lenders to reduce the capital required for loss reserves. The firms may keep the contracts to hedge against declining assets rather than canceling them as AIG said it expects the banks to do, according to David Havens, managing director at investment bank Hexagon Securities LLC.

$200 billion dollars for foreign banks that we, the taxpayer, have now backstopped through The Fed with zero oversight or approval by Congress?

These aren't even American businesses!

The average weighted length of the European swaps protecting residential loans is more than 25 years, while the span tied to corporate loans is about 6 years, AIG said in a regulatory filing. Contracts covering corporate loans in the Netherlands extend almost 45 years, and the swaps on mortgages in Denmark, France and Germany mature in more than 30 years.

So now we, the American Taxpayer, are backstopping mortgages in Netherlands, Denmark, France and Germany?

Remember this?



Now you know why, and what The Fed and Treasury have done - in black and white.

You have been robbed America, and now they intend to steal $200 billion more - to bail out not Americans but foreigners.

Tell me again why we're doing this, and why people aren't in prison?


they shuffled around 120 bilions to the banks via AIG already. guess how this is going to end up?

pornguy

Why are they not in Prison. Because they are RICH. And I mean ROLLING in money. They dont go to prison.

And anyone that wants to bring up Bernie can. He will be out in a year or less.

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FelixFlow

the Fed might not end anytime soon, but the American people are gonna demand some answers! !

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96ukssob

yeah sure as the gov't looks down and laughs at us as we do.

ive gotten emails from friends and family to sign some petition to audit the federal reserve to prevent things from happening... no matter how many people sign, takes on swing of the Obama or some other big wig to over turn that.

no matter how you look at it, were fucked. and its even more fucked up that I have to pay their ignorance and greed while they get to keep every time.

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Blackamooka

The American people are too busy trying to figure out what reality TV show they want to watch next.

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teomaxxx

they are RICH now. I predict in a few years, when people will go to the streets, they wont be RICH anymore....or RICH, but outside US.
if you look to the history, there are big crises every 60-70 years similar to the GD1 or even worse. this time goverment did everything possible to save wallstreet (which create only fake wealth, not real wealth ) but not joe6pack - they will soon learn, how that was big mistake

Agent 488

i didn't read it.

GetSCORECash

We are doing this, so that average Joe can pay $300 a year for a million dollar life insurance policy.

We are doing this, because we want those foreigners to come back, and invest in the greatest country in the world.

We are doing this, so that the economy wouldn't have collapsed, and the big banks could keep on makeing profits...

Ok, you have a point... but it's too late. Now that we bailed out the big banks, we own them, and we simply have to get them off the books.

Have you seen AIG stock lately? I can't believe people are buying this shit. I'm too scare to option trade it, as it could go in any direction.

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teomaxxx

while i see your point, i think all those bailout will have much worse consequences later (in form of higher long term interest rates (which arent actually set by FED, but by market), which would further destroy economy and anyone in debt)

just one point more, US taxpayer doesnt own big banks, they own him via US goverment.

bushwacker

Only if he leaves in a bodybag.

BFT3K

Yeah, seriously. There is no fucking way Bernie is coming out alive, and as at least one previous post already made this bet - he will likely be dead within 2 years.

Mr. Cool Ice

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FelixFlow

^ you dont need to have people sign a petition, just educate them to place calls to their Senators

the bill do audit the fed has passed house, now its up to the Senate

http://www.ronpaul.com/on-the-issues...serve-hr-1207/

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