154 trillion dollar bailout?
 

been hearing that BOA and Jpmorgan have transfered over 150 trillion dollars of risk on to the FDIC and federal reserve?

http://dailybail.com/home/holy-bailo...illion-of.html

fucking hell...

coincidentally, the day gaddafi is assassinated

no real coverage about this at all

http://reason.com/blog/2011/10/20/sc...mmentcontainer

The United States will officially pass the 100 percent debt-to-GDP line on Halloween. Via Zero Hedge:

We decided to dig into the actual numbers (cancelling out the per capital denominator as it is the same on both sides of the equation) and came to a very disturbing revelation: as of today, total US Debt, is $14.942 trillion (source), obviously an all time high. Q2 GDP as was reported by the BEA three weeks ago, was $15.012 trillion in current dollars. In other words, the spread between total GDP and total debt has now collapsed to an all time low $70 billion. Incidentally, this number was $1.8 trillion at the beginning of 2010. Then we decided to take a quick look at theupcoming bond issuance and find that tomorrow the Treasury will announce approximately $99 billion in 2, 5 and 7 Year bonds to be auctioned off October 25 through 27... With a very appropriate settlement date: October 31, elsewhere known as Halloween. Yes, ladies and gentlemen: All Hallows E'en will be doubly scary this year: for the first time since World War II, US debt will officially surpass GDP on Halloween 2011.



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Holy shit.

Why people still do business with BofA is beyond me. I wish everyone would close their accounts and let this crooked bank fold.

Thanks for the info, as sickening as it is :disgust

The american public another step closer to slavery...

@#$@#^%&@ holy crap!

The hippies on wall street are going to be pissed tonight!

http://www.bloomberg.com/news/2011-1...bank-unit.html

so.. yea. confirmed jp morgan as well

haha i want to believe you. however i do not.

from my understanding the derivatives here would be loans over time, amounting to a dollar amount.

because the GDP doesn't match that dollar amount, doesn't mean the problem 'doesn't exist'

it just means banks loaned out more money than what could very well exist on the entire planet

if this is true, i don't think america has that option

those accounts would be frozen at the first sign of trouble

How many trillions have they made since 1913? Think Bill Gates was ever anywhere near the richest person in the world? :1orglaugh:1orglaugh:1orglaugh

"Using figures provided by bank analyst Richard Bove of Rochdale Securities, we can estimate that the FDIC obligation to depositors at the bank is about $800 billion, compared to the FDIC?s reserves of $3.9 billion."

This is all gonna end very well. I can feel it. :helpme

http://firedoglake.com/2011/10/20/ba...make-a-profit/

But remember folks, like the OWS movement tells us, it's got nothing to do with the politicians that actually CONTROL the federal government and who DECIDE where our money is going to be given.... ignore that! We should just re-elect them, and give them MORE of our money and MORE CONTROL over our economy and marketplace, since they are doing such a great job. It's not their fault! It's all the banks fault!



Oy! :disgust
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And that my friend is the whole Marlboroack family generations income till the world ends.

I've wanted to move from BofA for awhile. Today did it, new account already opened.

Find a local credit union?

No longer with BOFA, now I have to figure out my way out of Citi, that will be hard.

I love the tech at chase, daughter calls and needs a few bucks, couple clicks from my droid and I can transfer money right into her account.

As for the rest, I'm wondering if I have enough ammo?

i did that, found out it's attached at the hip to citibank :disgust

OWS movement tells us that? or is that what you hear?

:thumbsup:thumbsup did they ask or anything why you were leaving?

who control (ie: pays for) the politicians idiot?

Not all politicians. Just the democrats right? :1orglaugh

here is William Blacks (William Kurt Black [born 6 September 1951] is an American lawyer, academic, author, and a former bank regulator.) take on what has occured here:

http://dailybail.com/home/william-bl...-americas.html

do you have a better source ?

bloomberg somewhere..

edit: http://www.bloomberg.com/news/2011-1...bank-unit.html

but i, and we, haven't been able to find ANY other mention of this on other newspapers.. even the ones, as pointed out earlier in this thread, one would think to find it on

creepy.

yes but i don't see exactly the same information, or this is perhaps my english that is too poor (that's possible)

Say goodbye to the sovereignty of your country when it cant repay the debts and then the bankers regulate it through bankruptcy.

Nope. All of them.




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Is that notional value or real value?

actual story:

http://www.bloomberg.com/news/2011-1...bank-unit.html

Bank of America Corp. (BAC), hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people with direct knowledge of the situation.

The Federal Reserve and Federal Deposit Insurance Corp. disagree over the transfers, which are being requested by counterparties, said the people, who asked to remain anonymous because they weren?t authorized to speak publicly. The Fed has signaled that it favors moving the derivatives to give relief to the bank holding company, while the FDIC, which would have to pay off depositors in the event of a bank failure, is objecting, said the people. The bank doesn?t believe regulatory approval is needed, said people with knowledge of its position.

Ahh... yes the OWS movement is more focused on wall street, while the Occupy movement in general is focused on many topics, including wall street and out of control gov at all levels. Sometimes the focus is at the local level, sometimes at the State, the Gov and even some directly towards the Reserve, and much more.

That's the joy of this movement... you know what's wrong, you know one of many ways we're getting screwed - so go out and protest it. Someone else might think something else is totally screwed up, and that's fine too, because it is.

At this point, it would be easier for us to list what's not screwed up... so people have a reason to be pissed, and they are, and clearly you are some what too!

I see. So if I pay you to go kill small children then you will have no choice but to take the money and go do it? Obviously you wouldn't be at fault, since I offered you money. You automatically must take it and do what I say. Interesting!!

:-)))

they are both complicit, but to think the lobbyists and corporations that flood the government with cash are innocent, is well, stupid.

And the banks dont control the government. Are you Naive? Also a side note Japan is 197% of gdp and dont see them falling off a cliff. Everyone wanted to go to war and pay the lowest taxes in 50 yrs and your surprised? lol

No worries, the recovery is juuuuuuuuust around the corner. Then it's all rainbows and unicorns again.

read from the '?The Normal Course?' and down

i believe it is notional, but with this quote:

"Using figures provided by bank analyst Richard Bove of Rochdale Securities, we can estimate that the FDIC obligation to depositors at the bank is about $800 billion, compared to the FDIC?s reserves of $3.9 billion."

so..

Considering the entire wealth of everyone in the world doesn't equal $150 trillion I call BS.

Derivatives have nothing to do with how much hard money there is in the world. You could be betting on the entire real estate market, which obviously is in the trillions, but is not in actual currency form.

According to the Bank for International Settlements, which is like a bank for central banks, as of last year there were $601 trillion in outstanding derivatives.

http://www.bis.org/statistics/otcder/dt1920a.pdf