Wow, how much bigger can Goldman Sachs, Bank of America, and JP Morgan get??? Wowzah...
So big they can't be allowed to fail!
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Yeah...crazy crazy stuff...its on CNBC right now, they don't even have a story yet online...just broke a couple minutes ago.
How do you like that?? Washington Mutual's deposits get seized by FDIC yet it wasn't insolvent. 4th Amendment anyone???
J.P. Morgan couldn't take it with him when he went to hell, but I'll bet he's still plenty pleased
"They [the Soviets] intend...to induce the Americans to adopt their own 'restructuring' and convergence of the Soviet and American systems ... Convergence will be accompanied by blood baths and political re-education camps in Western Europe and the United States. The Soviet strategists are counting on an economic depression in the United States and intend to introduce their reformed model of socialism with a human face as an alternative to the American system during the depression."Anatoliy Golitsyn The Perestroika Deception 1990
Originally Posted by RonPaulVolunteer
Let em get into the deposit base, pay themselves back, go broke and then everyone will support a bailout for mom and pops deposits. I will never bank with any of em. If they acquire my deposit, I 'll go to another bank. None of the investment banks can borrow at under 10 percent so they need to rip off mom and pop depositors and Uncle Ben said its ok. It used to be illegal.
Thar She BLOWS: FDIC Seizes WaMu Sells Deposits to Government buddy JP Morgan!
Just in!
FDIC siezes WaMu accounts and gives them to their best friend in CRIME, JP Morgan.
I'm glad to see FDIC chairman, Sheila C. Blair is doing a fine job for her constituents at JP Morgan!
The American Dream, Wake Up People, This is our country! <===click
"All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
Thomas Jefferson June 1826
Rock The World!
USAF Veteran
Haha if those two slobs on the right aren't the poster boys for rich white elites I don't know who is!!!!!!!Just in!
FDIC siezes WaMu accounts and gives them to their best friend in CRIME, JP Morgan.
I'm glad to see FDIC chairman, Sheila C. Blair is doing a fine job for her constituents at JP Morgan!
Hot dog! She's a big one, Willie!!!
"They [the Soviets] intend...to induce the Americans to adopt their own 'restructuring' and convergence of the Soviet and American systems ... Convergence will be accompanied by blood baths and political re-education camps in Western Europe and the United States. The Soviet strategists are counting on an economic depression in the United States and intend to introduce their reformed model of socialism with a human face as an alternative to the American system during the depression."Anatoliy Golitsyn The Perestroika Deception 1990
One thing straight: JP Morgan is NOT acquiring WaMu deposits...
FDIC seized Washington Mutual accounts/deposits and SOLD THEM (undisclosed/Classified Amount) to their Partner in Financial Crime for the past Century: JP Morgan.
NOTE:
The FDIC will not disclose the amount of the transaction, but my insider knowledge has WaMu depositors accounts valued @ $134 BILLION.
So they are saving the depositors... why? Because the FDIC is OUT OF MONEY!!!
WaMu will now Fail...
It's a creative BAILOUT of another kind... maybe that $100 BILLION JP MORGAN borrowed yesterday?
Love the Secrecy with the TAXPAYERS money and assets.!
The American Dream, Wake Up People, This is our country! <===click
"All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
Thomas Jefferson June 1826
Rock The World!
USAF Veteran
How do you sell deposits? I thought those were liabilities...
"My aim is not to pass laws, but to repeal them." Barry Goldwater
http://www.abelard.org/e-f-russell.htm
YouTube - Mel Brooks Catch Phrase
http://hatchetfacednutmegdealer.blogspot.com/
The Government might as well nationalize the banks and run it the way it wants it; it's just arbitrarily doing things the way it wants now, with our financial and banking systems.
Say what? How is this even possible? As far as I know, the FDIC isn't a regulatory agency. How can it "seize" a private bank's assets? Something is missing here.
"Let it not be said that we did nothing."-Ron Paul
"We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book
There is something real fishy with the sale of deposits. The FDIC gets money from JP Morgan and then JP would have 134 Billion in liabilites and 13.4 million in reserves? This does not sound like JP would take that deal as I understand it. Maybe there was no sale and that is why it is undisclosed and the FDIC forced Morgan into taking on the deposits.
"My aim is not to pass laws, but to repeal them." Barry Goldwater
http://www.abelard.org/e-f-russell.htm
YouTube - Mel Brooks Catch Phrase
http://hatchetfacednutmegdealer.blogspot.com/
Less than 2% capitalized for on demand deposits.
http://www.ronpaul2012.com/
When they all fail, the FDIC will have to get newly printed funds from the fed, which will cause hyperinflation.
http://www.ronpaul2012.com/
Because We're the Government -- And You're Not.
I guess it's time for me to find another bank.
"The individual is handicapped by coming face-to-face with a conspiracy so monstrous he cannot believe it exists." - J. Edgar Hoover
Luckily I transfered my savings to US Bank a couple years back.
http://www.ronpaul2012.com/
The FDIC already requested $150 BILLION from the FED/TREASURY.
the FDIC is below the law mandated, in my opinion, BS reserves level of 1.15-1.5%
The WaMu accounts are the liquid assets (savings/peoples money) so it's not so much a Liability as it is: JP Morgan received $134 BILLION in CASH accounts.
NOW, That is a TOTALITARIAN OLIGARCHY move by the FDIC and I can't see how they have power to do it.
All the money loaned yesterday (SECRETIVELY) and now this today.
There's something very goofy going on with the Financial Circus of moving money around... everywhere. The FIAT, UpSide Down Pyramid Sheme Monoploy Money system... is coming to it's KNEES!
LOOK for MARTIAL LAW SOON, I mean Dubya BUSH to use EXECUTIVE POWER and Executive Orders!
Last edited by HOLLYWOOD; 09-25-2008 at 06:13 PM.
The American Dream, Wake Up People, This is our country! <===click
"All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
Thomas Jefferson June 1826
Rock The World!
USAF Veteran
Wait, what? Did the FDIC just seize Deposits and then sell them to JP morgan? How the $#@! did they do that?
loved the utube!
Diversity finds unity in the message of freedom.
Dilige et quod vis fac. ~ Saint Augustine
"I'll believe in good cops when they start turning bad cops in."
This board has been talking about WAMU for months. Now they don't wait until Friday's after the market closes.
Where were the open market bids to take WAMU over. All done in secret and they will not tell the details. Favor the banks they control and have their money in to make the big bucks.
This system has become so corrupt it is beyond belief. Everything is now done in secret so we have no clue.
All the more reason to make a tidal wave against the bailout tomorrow.
DK
It's getting very close...
wagers and bets:
A: Executive Decision: Clear & Present Danger (not Pakistan, Afghanistan, Iraq, Georgia & all that Empire crap)
B: Executive Order: ( override the coined, "STALEMATE" and push an emergency $250 BILLION through to BANKS, then another, and another...)
C: Martial Law: (China and the World... DUMP the GREENBACK and they all want to collect on the U.S. Debt they're holding) Margin CALL!!!
Keep backing Ron Paul and keep objecting to the ILLEGAL FINANCIAL SYSTEM and CORPORATE MASTERS!!!
Call WASHINGTON DC... ALL of them especially those POS: Chris Dodd, Charles Shumer, Harry Reid, Nancy Pelosi, and the 3 Financial Stooges: Blair, Bernake, Paulson
Last edited by HOLLYWOOD; 09-25-2008 at 06:11 PM.
The American Dream, Wake Up People, This is our country! <===click
"All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
Thomas Jefferson June 1826
Rock The World!
USAF Veteran
This was likely done to put pressure on Congress to push the bailout through. The timing is just too perfect.
Agree
"Anarchists oppose the State because it has its very being in such aggression, namely, the expropriation of private property through taxation, the coercive exclusion of other providers of defense service from its territory, and all of the other depredations and coercions that are built upon these twin foci of invasions of individual rights." -Murray Rothbard
I still say we need to organize a general strike - pick a day and no one goes to work or school!
Diversity finds unity in the message of freedom.
Dilige et quod vis fac. ~ Saint Augustine
"I'll believe in good cops when they start turning bad cops in."
(shouting)
WE SHOULD BE IN THE $#@!ING STREETS, OBSTRUCTING TRAFFIC AND RAISING HELL!
(/shouting)
This is VERY HISTORIC... University ECONOMICS classes, Financial experts, and the professors must be going hysterical!
AND...
We all have front row seats, thanks to Ron Paul... Feels Good, Eh?
"Banking establishments are more dangerous than standing armies!"
Thomas Jefferson
Last edited by HOLLYWOOD; 09-25-2008 at 06:18 PM.
The American Dream, Wake Up People, This is our country! <===click
"All eyes are opened, or opening to the rights of man, let the annual return of this day(July 4th), forever refresh our recollections of these rights, and an undiminished devotion to them."
Thomas Jefferson June 1826
Rock The World!
USAF Veteran
I am going to the bank tomorrow and getting all my money out.
This is getting stupid.
"Your mother's dead, before long I'll be dead, and you...and your brother and your sister and all of her children, all of us dead, all of us..rotting in the ground. It's the family name that lives on. It's all that lives on. Not your personal glory, not your honor, but family." - Tywin Lannister
"WaMu ended August with $143 billion in retail deposits -- roughly triple the size of the entire Federal Deposit Insurance Corp fund that backs customer deposits. It has also said it expects to end the quarter with a "well-capitalized" status well in excess of federal minimums."
site source:
http://www.cnbc.com/id/26893741
so where does this power of the FDIC to seize deposits come from? anyone know?
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