Even though I have stated over and over that the milking by these financial institution's will continue ... I never did know how or what bite they were going to pull ... and have been waiting in anticipation to see how this would be scammed. But after these "stress test" result's ... it's plain to see now. And technically, since these bank's ... many that are labeled as "Fortune 500" giant's are able to play the "victim card" because they are left holding worthless asset's/ capital, because of the action's of other's in the financial sector ... I could go on and on, on this ... but the bottom line is ... everybody has a victim card to play in this hand. I refer to them as not "Fortune 500" but "Welfare 19". Reason's why this milking will continue ... is because ... we have a government who refuses to let them fail at what ever cost's ... all orchestrated by the ruling global entities, and once you give in, the biting will not stop ... period. This is also why I say that we will struggle more and more from here on ... until this whole system is restructured. If we do let them fail ... we lost everything as far as financial backing ... and those at the top walk away to wherever they choose on the globe ... extremely wealthy off our capital.
No capital is needed for Goldman Sachs, JPMorgan/ Chase, American Express, or Bank of New York Mellon. But that is nothing but hype talk, next quarterly report could make a complete turn ... this is all orchestrated to make us go up and down like yo- yo's, chasing our tail's over these hustler's, and losing our asses in the process. And I sure as Hell dont blame any of this on President Obama ... or Treasury Secretary Tim Geithner ... not one sliver of it ... these guy's have busted ass with their crew's to try to do what they can to try to make this a softer ride and transition, this is deep and widepread and has been building for several year's.... this is why I posted in my earlier post's that this would get worse....because many expert's over the last 5 year's or so ... been suspecting this ... but most American's were paying no attention to it ... after all ... how many American's that are working class ... read thing's like the Wall Street Journal? (Well ... yes ... I do)
Bottom line ... 10 out of these 19 bank's being funded by us need capital ... actually a total to date of $74.6 billion. Bank of America needing the largest of $33.9 billion. So what do we do? Heh,heh,heh ... what can we do? ... is how our government see's it. I mean ... in the worst case scenario ... according to regulator's ... the estimated losses to these institution's could climb $600 billion for this group if they cant cut the mustard and get the capital on the book's they need. And you know because of our pressure on Congress that Congress is going to push for private sector investment's ... but think of that ... I mean ... how many in the private sector will want to invest in this? The only good clout this investment would be ... is your almost guaranteed it wont collapse ... simply because it has the backing of the US Government and taxpayer's ... but do not most invest in the hopes for the best return? The majority of this loss is due to bulk residential mortgages, consumer loan's ... being mostly credit card's/ account's ... and this is also why I said in the past....many American's are to blame to...our extensive greed across the board is the blame. I mean...we whine that were the victim's of the lender's through inticement's, yet we turned a blind eye to alot ... when we sign these contract's ... and say ... oh well ... maybe I cant afford it now ... but that's what credit is for ... I'll get that raise or such and such will come through and it will work out. Then the big bank's are stuck with all these toxic asset's ... that the middle player's/ lender's set up ... and no one was watching the hen house, so those who get the least misery are the middle player's. The taxpayer's and big bank's get stuck holding the toxic's and penalties.
In the meantime...thousand's of US military are arriving in Afghanistan ... only to find that their equipment hasnt even arrived ... and they are short of everything down to communication's equipment ... hmmm ... imagine that ... why aint I suprised? And GMAC financing say's they need another $13.7 billion but will settle for $11.5 billion ... while sales and production in their China Division is skyrocketing, uhhhh, couldnt the Chinese Division help out? Oh ... I'm sorry forgive me ... it may not be acceptable to the 75 million communist party member's ... who also own over 80% of all business in China ... sound familiar? : ) And the CEO's are outraged over these stress test's and all the watch dog's that are watching them like a fox watches a hen house. Hell ... what the hell do ya'll expect? Ya'll are the ones drawing welfare ... and when ya'll draw welfare ... you have to report! Just be grateful you reside and do business primarily in 2009 USA, after all ... it could be worse ... imagine what it would be like if the peoples just got sick and tired of your whining and milking and decided one day to do to ya'll like folk's done in April 1945 Italy to dictator Benito Mussolini and his lovely mistress ... Clara Petacci. : ) So, count ya'll's blessing's. Beside's ... all ya'll have to do is come up with a plan as to how ya'll are going to raise the capital within 30 day's ... then you get 6 month's to try to make it work ... Hell! ...ya'll are getting spoon fed ... Now put up, or shut up!
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4 comments:
Oh, I wish you could condense what you have to say into 2 paragraphs instead of 4. At least throw in a picture or two. :)
Heh,heh,heh....... Yes Ms.Rita, I do reckonize it is rather bland or non-colorful. When I started this...it was simply meant to be a journal...kind of diary too, to just record current event's and of coarse opinionated. And I havent the talent that so many of ya'll have as far as writing, especially the formal education like ya'll who are blogger's have.You yourself have artistic skill's and are with a newspaper, just all around have a knack or a talent for doing such, or even like the Infidel,or Prash with his colorful photography,or other's. Picture's? I dont even have a recent picture of myself for that matter :) Trust me.... many times I wish I had that talent to where I could express my thought's in less word's,but the reality is... I dont.Some thing's my dear I am damn good at... but as you can see... heh,heh,heh .... writing and artistic skill's are not part of those.
Thanx for your visit and advice and opinion though, have a good un.
Of course you have talents & mine are for the most part overrated, just ask my enemies. :)
What you write makes sense & it is always evident you put a lot of thought into your subject matter.
I want to comment on it. Sometimes I'm just to tired to read it. You could highlight the good parts. :)
Just kidding, there. ;)
By the way I have no formal education to speak of. I barely finished 8th grade & any formal education I got after that was in reform school. I never made any bones about it when i was running for political office, it drove my opponents nuts!
Nope..... Ms. Rita ... never thought that.But all caca aside...you do have a good looking website...and you take some great looking pictues too... and have away with word's, so all I can assume is it is just one of natural born talent's.
But yeah .... I dont even like how I make stuff so long, and dragging. I reckon I culd take one of them courses or something. Hell, I dont even like courses.
Thank You Ms.Rita .... later........
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