Deutsche Bank, a German lender, has sold the Fed more than $290 billion worth of mortgage securities, Fed data through July shows. Credit Suisse, a Swiss bank, sold the Fed more than $287 billion in mortgage bonds. The data had previously been secret. It was released Wednesday per the recently-enacted law overhauling the federal financial regulation. The Fed, ferociously backed by the Obama administration, fought lawmakers' desire for full disclosure throughout the financial reform debate. Webmaster's Commentary:
This is what appears to be surfacing.
As detailed in "Bankers Hone Wild", mortgages were cranked out by unscrupulous mortgage brokers, then resold into mortgage securities, which were in turn re-sold to investors as triple-A investments, even though the bundles included sub-prime mortgages already defaulting as US jobs were shipped overseas.
Worse, we now know that individual mortgages were pledged as collateral to multiple security bundles, which is illegal! This is mentioned at 3:48 in the next video.
What appears to have happened is that the European banks realized that the American investment firms selling those mortgage-backed securities were engaging in fraud! Greenspan has admitted to such.
Obviously, the European banks are never going to sit still for fraud, even from Wall Street, even from the USA! No doubt the European banks demanded a refund on those fraudulent investment packages. No doubt the Wall Street mortgage fraudsters refused, suggesting that the bankers of Europe dump their losses on their populations just as the American banks were being forced to do. That some European banks did so explains why so many European nations are in financial trouble, with Iceland just one example. However, the larger European banks may have decided to "get tough" with the Americans, and this may explain the mysterious electronic run on the US financial system in February 2009, which almost crashed the US economy. Strangely, the American people were never informed who had initiated the financial transfers, even though obviously this information is recorded in the transactions on the computer systems.
This "attack" may have been a warning from the European main banks to the US to make good on the bad investments, or risk full public exposure for the mortgage backed securities fraud!
Soon after, we learned that the Federal Reserve was handing out trillions and trillions of dollars, loans which the American people are expected to repay, only the Federal Reserve refused to say who was getting the money, and even implied that exposure of the recipients of these trillions of dollars might pose a threat to the US economy. Now, nearly two years later, we find out that the Federal Reserve was buying back the mortgage-backed securities from European banks including Deutsche Bank and Credit Suiss.
In other words, the American people were looted to make good on the fraud perpetrated by Wall Street not only against American financial institutions, but bankers in the Eurozone as well. The Wall Street Fraudsters should have gone to jail. But they walk free and clear, heading into a wonderful holiday with record-setting bonuses to spend while ordinary Americans have been made jobless, homeless, and hungry to keep the criminals out of prison. The Mortgage Backed Securities fraud is the biggest fraud in the history of the United States, and as today's revelations make clear, we still do not know the full scale of the financial rape this nation has suffered.
Today, the private Federal Reserve was forced to reveal that they loaned upwards of 9 trillion dollars to major financial institutions in emergency overnight loans. These loans were done in complete secret, used to “save” the economy, which had slip into a deep staged economic depression. Most of the money has been paid back, yet the interest rates that these major institutions received were near ZERO. That’s right, The Federal Reserve bailed out their partners on Wall Street at near zero interests rates while everyday American citizens have been continually blasted by high interests rates around every corner.
Thanks, Centers for Disease Creation... from my WP email alert and to think I just finished showing a friend moments ago History International's The Crumbling of America about our failing infrastructure, saved on the DVR. Important Doc even with the global warming part and that jackass Meigs using it as a vehicle for street cred in the science sector after managing the Popular Mechanics hit piece on 9/11 researchers so long ago now. ...The water in almost 15,000 D.C. homes that were repaired during a massive effort to remove lead pipes may still be contaminated by dangerous levels of the metal, according to a report released Wednesday by the Centers for Disease Control and Prevention.
Sanity restored: Philadelphia puts ‘Christmas’ back in the village By Daniel Rubin INQUIRER COLUMNIST I'd like to thank Mayor Nutter for saving Christmas. Wednesday afternoon he announced that the city had over-reacted in changing the name of the traditional German Christmas Village on Dilworth Plaza to simply "Holiday Village." "Christmas Village" it will be once again. And here I had been ready to bury the decision. Why not? Pulling the word "Christmas" off the sign over the village gate seemed ridiculous Tuesday afternoon when I walked around that dollop of Deutchland outside City Hall, sampling the hot nuts and sizzling bratwursts, and oggling the tiny elves and fat Santas.
'Light Up the Night' at Bradley Park and Chanukah on Worth to commemorate Jewish holiday By Christopher C. Paine Daily News Staff Writer Updated: 10:03 a.m. Tuesday, Nov. 30, 2010 Palm Beach will mark the arrival of Hanukkah, the Jewish Festival of Lights, with two events during the next few days. The Light up the Night Chanukah Festival in Palm Beach will occur at 5:30 p.m. Thursday in Bradley Park....Both events, which are open to the public, will feature a Menorah lighting.
The United States would be ready to support the extension of the European Financial Stability Facility via an extra commitment of money from the International Monetary Fund, a U.S. official told Reuters on Wednesday. Webmaster's Commentary:
The EU is in trouble because like the US they are enslaved in the grip of a private central bank issuing the public currency at interest.
The EU banks are in trouble because like Wall Street they have gone on a gambling binge with derivatives. And the US Government is looting the American people to prop up the bankers of Europe.
Several large foreign banks benefited heavily from the U.S. government's $3.3 trillion bailout of the financial system, according to documents released Wednesday. Webmaster's Commentary:
So ... Americans are jobless, homeless, and hungry so that European bankers could be saved from their own greed and recklessness, just like their Wall Street cronies.
Forget the words "save", "rebuild", or "bailout". The banks in Europe bought the mortgage-backed securities being sold by Wall Street. Once it became obvious that those mortgage-backed securities were fraudulent and over-subscribed, meaning the same mortgages were being re-sold over and over into different bundles, the European bankers threatened to make the fraud public unless the securities were redeemed. That is when the Federal Reserve started pouring out trillions of dollars, all of it considered a loan to be repaid by the American people, to buy back all that bad paper from Deutche Bank and Credit Suiss among others. In other words the US Government is impoverishing the American people to keep their "too big to jail, too big to jail" banker buddies out of prison for the fraud they committed.
Speaking during a meeting attended by several business executives at the Ohio State University on Tuesday, US Federal Reserve Chairman Ben Bernanke voiced his deep concerns over the slow pace of the economic recovery in the United States, saying that "We're not growing fast enough to materially reduce the unemployment rate," AP reported. Bernanke said the economy needs growth of 2 percent to 2.5 percent in order to inject life into the dried-up job markets. As the US economy tumbles in the face of a big recession and growing jobless rates, he acknowledged that job creation is the biggest issue plaguing the US economic growth. Webmaster's Commentary: The QE2 policy only helps banks, and does nothing for We the People except for creating inflation, which working people hardly need any more of, thank you very much.
And that statistic of allegedly 9%? unemployment!? The real figures are probably double that.
What to do to get the economy going?!?
1. Cut taxes and Federal spending (particularly on those illegal and immoral wars the US is fighting)
2. Incentivize businesses to establish, stay, and grow here in the US.
The machinegun fire came from Israeli positions near Shebaa Farms on the border between Lebanon, Syria and the occupied Palestinian land on Wednesday, dpa reported. According to the source, the Wednesday shooting came from Israeli troops stationed in al-Sammaqa and Rwaisat al-Alam positions. No casualties have been reported. UN sources said that they were checking the latest shooting on Lebanon by Israeli troops. Webmaster's Commentary: Starting another war in Lebanon will most likely bring in Syria and Iran, and the conflict could spread across the region like a wildfire, out of control.
The delicately balanced global climate talks in Cancún suffered a serious setback last night when Japan categorically stated its opposition to extending the Kyoto protocol – the binding international treaty that commits most of the world's richest countries to making emission cuts. The brief statement, made by Jun Arima, an official in the government's economics trade and industry department, in an open session, was the strongest yet made against the protocol by one of the largest emitters of greenhouse gases. He said: "Japan will not inscribe its target under the Kyoto protocol on any conditions or under any circumstances." Webmaster's Commentary: It looks as though Japanese scientists have been working with Japanese business interests, and the business interests have told the Japanese government that:
1. The alleged "science" of the warmistas has absolutely zero hard evidence with which to back up their allegations, and
2. It will absolutely eviscerate an already fragile economy in Japan, which Japan's government doesn't need.
The developments have echoes of the pressure applied by Washington on European capitals last May to create the near $1 trillion EFSF safety net that was last week used to rescue Ireland after its banking crisis spiraled out of control. The IMF, whose biggest single shareholder is the United States, has committed 250 billion euros to the EFSF. While reluctant to dictate to Europe how it should address the unfolding debt crisis, the U.S. government is growing concerned about the global fallout of Europe's predicament. U.S. Treasury's prices fell and the euro strengthened against the dollar on Wednesday after the news that the United States would be prepared to support an enlarged EFSF.
One may be forgiven to believe that via its FX liquidity swap lines the Fed only bailed out foreign Central Banks, which in turn took the money and funded their own banks. It turns out that is only half the story: we now know the Fed also acted in a secondary bail out capacity, providing over $350 billion in short term funding exclusively to 35 foreign banks, of which the biggest beneficiaries were UBS, Dexia and BNP. Since the funding provided was in the form of ultra-short maturity commercial paper it was essentially equivalent to cash funding. In other words, between October 27, 2008 and August 6, 2009, the Fed spent $350 billion in taxpayer funds to save 35 foreign banks.
Webmaster's Commentary:
Forget the words "save", "rebuild", or "bailout". The banks in Europe bought the mortgage-backed securities being sold by Wall Street. Once it became obvious that those mortgage-backed securities were fraudulent and over-subscribed, meaning the same mortgages were being re-sold over and over into different bundles, the European bankers threatened to make the fraud public unless the securities were redeemed. That is when the Federal Reserve started pouring out trillions of dollars, all of it considered a loan to be repaid by the American people, to buy back all that bad paper from Deutche Bank and Credit Suiss among others. In other words the US Government is impoverishing the American people to keep their "too big to jail, too big to jail" banker buddies out of prison for the fraud they committed.
Anticipating a nationwide grassroots surge of protests against naked body scanners and aggressive pat-downs, the TSA simply turned off its naked body scanners on Wednesday and let air travelers walk right through security checkpoints without being X-rayed or molested.
All across the country, air travelers are reporting that the TSA simply deactivated the naked body scanners and let people go right through without a scan. "Backscatter scanners are off. No scan. No patdown." reported a traveler from the Seattle airport. "Backscatter machines aren't being used at LAX," reported another traveler. "They're all roped off." As soon as the TV cameras leave, however, they can turn those machines right back on and start molesting people once again. This is classic behavior of police state tyrants: They present a calm, professional image to the media, but once the cameras leave, all of a sudden their hands are back down in your pants.
The Musudan is now playing a starring role in reports this week prompted by WikiLeaks' release of U.S. diplomatic cables. One of the documents says that Iran has obtained 19 of the missiles from North Korea, prompting news reports suggesting that the Islamic republic can hit targets in Western Europe and deep into Russia - farther than Iran's existing missiles can strike. The problem, however, is that there is no indication that the Musudan, also known as the BM-25, is operational or that it has ever been tested. Iran has never publicly displayed the missiles, according to experts and a senior U.S. intelligence official, some of whom doubt the missiles were ever transferred to Iran. Experts who analyzed Oct. 10 photographs of the Musudan said it appeared to be a mock-up.
Monday, 29 November 2010 10:42 Wind and snow snarl, delay and make life generally miserable for commuters Copenhagen Airport came to a standstill this morning as strong gusts of winds forced the cancellation of all outbound flights and prevented incoming flights from landing. Service resumed around 8am, but delays were expected to continue throughout the morning and the airport advised passengers to keep up-to-date on their website The snow and wind has also affected traffic on land. After working all weekend to clear the roads of the 40 centimetres of snow that fell on Friday and Saturday, crews were again at work this morning ploughing and salting after last night’s snowfall.
The Federal Reserve, under orders from Congress, today named the counterparties of about 21,000 transactions from $3.3 trillion in aid provided to stem the worst financial panic since the Great Depression. Bank of America Corp. and Wells Fargo & Co. were among the biggest borrowers from one program, the Term Auction Facility, with as much as $45 billion apiece. Some aid went to U.S. units of foreign institutions, including Switzerland’s UBS AG, France’s Societe Generale and Germany’s Dresdner Bank AG. The Fed posted the data on its website to comply with a provision in July’s Dodd-Frank law overhauling financial regulation. The information, which also includes the amounts of transactions and interest rates charged, spans six loan programs as well as currency swaps with other central banks, purchases of mortgage-backed securities and the rescues of Bear Stearns Cos. and American International Group Inc.
Sweden's local councils are running out of money for clearing the snow and ice from their roads, according to Swedish Radio News. The harsh winter earlier in the year, and the current early onslaught of winter, has meant that costs have exceeded predictions, and that they will now have to cut back on other expenditure, says P-O Högstedt from Vetlanda local council in the south of the country. "The money's run out, but we have to keep clearing the streets, we have to carry on", says his colleague, Stig-Åke Almkvist, from Mellerud council.
People living in the southern province of Skåne are advised to stay at home this evening and during the night as the province can expect large amounts of snow, strong winds and low temperatures. The Swedish Meteorological and Hydrological Institute have issued a class-1 warning and the Transport Administration is also advising people not to drive unless it is necessary.
All news and commentary taken from, Mike Rivero's whatreallyhappened.com.
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