Max! What are the aliens saying about the banks?

Check Bank of America stock quote 

Alrighty then, seems that the universe is watching human economics, warning all intelligent life to remove any currency as to banking from planet Earth!  Well really Max, first intelligent life would not need us now would they?  But Max and Stacy put an interesting spin on the finance news to help your emotions on the pilfering going on around the globe and yes Max we're watching the credit bubble as it can been seen from outer space.

In many articles I mention as the money becomes scarce the Feds would start going after the piles of money stolen from the public.  Just yesterday Fannie Mae sued nine major bank.  The lawsuit targets U.S. banks JPMorgan Chase, Bank of America and Citigroup, along with global banks Barclays, UBS, Royal Bank of Scotland, Deutsche Bank,Credit Suisse and Rabobank.  The action also accused the British Bankers' Association, which administers Libor.  The task force, comprising state and federal agencies, issued subpoenas and a public call for whistleblowers, amassed millions of documents and farmed out the work to about 10 U.S. attorneys offices.  Wall Street’s six biggest banks have piled up more than $100 billion in legal costs, including settlements and lawyers’ fees, banks being examined for FIRREA (FINANCIAL INSTITUTIONS REFORM, RECOVERY AND ENFORCEMENT ACT OF 1989) violations issued a total of $788 billion of non-agency mortgage-backed securities between 2005 and 2007.

You know something this deck was so rigged and dealt around the world where so many we're thrown under a bus that it's amazing there is no hangings yet alone no one has gone to jail.  Well like the NSA gathering all info from around the world the intel was certainly known.  Lets face it the game is rigged it's man made.  So from here on out only do business with the ones who have a good track record. Those are not my words but words from Warren Buffet.  He has said "he would not be interested in a 100 million dollar deal if it's going to leave my stomach burning."  When I was looking for answers on all of this instead of ranting off we need tools for a better tomorrow.  Life is not so much about me but how I leave this place in line for the person behind me, ah that would be humanity, so we do some house keeping and wash the deck before we leave, thank you.

RT



Central Banking Crooks

With a watch there's a watch maker

  Ah wait, there might be intelligent life here on the planet. To help prevent another giant cash squeeze, federal regulators proposed a rule on Thursday that requires big banks to hold a set amount of assets that they can quickly turn into cash. The liquidity rule works by asking large banks to estimate how much cash might flee in a 30-day period.  They then have to have enough assets that they could quickly sell to cover that outflow.  The top quality assets have to account for at least 45 percent of the liquid asset pool.  In today's market, a broker sells securities to a client, the broker takes out its own loan, pledging securities as collateral. The broker makes money from the higher interest on the client loan than it is paying on its own loan.  So know wonder the bottom falls out when deals go south, all the money is borrowed there is no true asset to cover just a fraction of such finance.

This new rule if imposed would reduce the profitability that today is a common practice on Wall Street.  So if you can't back the deal with your own assets don't come crying to the taxpayers that you need a bail out from money that never existed in the first place.  With or without this new rule from the regulators has taught us a hard lesson and education is expensive.  Do yourself a favor every entity has a track record so we're going to be like the NSA and run recon and monitor business of the likes who you do business with because like Warren Buffet explained, "I only do business in which I feel good about the deal and who I'm working with."  With that said we remove the rocket science out of financial scams heading for the rocks, steer clear of these Jack Wagons and pull up to the pier and have a nice walk on the beach.  This is not hard to do, lets just look at one stock en particular, McDonald's on Oct 1st, 1974 the stock price opened that day @ $0.63 today it closed @ $96.52 it's just a lesson in who you do business with and the lesson here is not so much when you buy and sell, but what you are buying.  That alone will make the difference between a Happy Meal and who the hell do you people think you are!  

So why these banksters turtle wax their ass and continue to slide you know who you want to bed with and that's no swinging nut sack you can't trust.    

europarl

Shaking The Banks, the Pope is even in on it!

Who's Next

This has been years in the making, banking reform.  FHFA sued UBS and 17 other banks in 2011, seeking to recover losses on a total of $200 billion in mortgage-backed securities sold to the two government-sponsored enterprises.  In November, U.S. District Judge Denise Cote, who is overseeing the UBS suit and most of the other FHFA suits, denied a request by Citigroup, Bank of America Corp. and two other banks to dismiss them. 

 UBS Americas will pay $885 million to settle ongoing litigation with the Federal Housing Finance Agency (which oversees Freddie Mac and Fannie Mae) over the bank's sale of toxic residential mortgage-backed securities to F&F.  The FHFA has alleged that the various banks violated federal and state securities laws when selling private-label RMBS to the housing agencies. Under the terms of the settlement, UBS will pay approximately $415 million to Fannie and $470 to Freddie to resolve certain claims.

Some of these names, as the settlement agreement covers claims between FHA and UBS in the following cases: FHFA v. UBS Americas, Inc.; FHFA v. Ally Financial Inc.; FHFA v. Countrywide Financial Corp.; and FHFA v. First Horizon National Corp. Of the 18 suits filed in 2011, FHFA has now settled three cases and remains committed.  The banks are shaking as to who is next.

Fannie Mae and Freddie Mac, a bipartisan group of senators calling for their dissolution within five years.

Taxpayer Protection Act of 2013:

To provide secondary mortgage market reform and for other purposes. The bill would transfer some of Fannie and Freddie's functions to a "modernized and streamlined" agency. To keep taxpayers from absorbing losses in the secondary mortgage market during periods of economic stress, the bill requires private market participants to hold 10 percent of the first loss of any mortgage-backed security that purchases a government reinsurance wrap.

Overview: House Bill

Summary: H.R.1101 — 113th Congress (2013-2014)
Introduced in House (03/12/2013)

Homeowners and Taxpayers Protection Act of 2013 - Directs the Secretary of the Treasury to establish the National Commission on Natural Catastrophe Preparation and Protection to advise the Secretary regarding the estimated loss costs associated with reinsurance protection contracts.

Requires the Secretary to implement a program that utilizes premiums from eligible state or multi-state plans to pre-fund future natural catastrophe recovery by making available for purchase, only by such plans, contracts for reinsurance coverage.

Requires such contracts to cover insured property losses covered under primary insurance contracts to homeowners, mobile homeowners, renters, and condominium owners for specified natural catastrophic events.

Prescribes requirements for the operation of state plans and the terms of reinsurance contracts.

Encourages states to create and maintain catastrophe funds for themselves or with other states.

Sets forth requirements for the treatment of insured losses and maximum federal liability.

Establishes in the Treasury the Catastrophe Preparedness Fund, consisting of contract sales receipts and any amounts borrowed or earned, which shall be used to pay Commission administrative costs and loss payments under reinsurance contracts. Prohibits the authorization or appropriation of federal funds for the Fund or for implementing the reinsurance liquidity protection program.

Establishes a post-catastrophe market stabilization program for liquidity loans to: (1) expedite payment of claims under state catastrophe insurance programs, (2) authorize the Secretary to issue loans to assist financial recovery from significant natural catastrophes, and (3) promote the availability of private capital to state catastrophe insurance programs in order to provide liquidity and capacity.

Establishes the National Readiness, Preparedness and Mitigation Committee to administer a Readiness, Preparedness, and Mitigation Grant Program of grants to state and local governments, nonprofit organizations, and other appropriate public and private entities to develop programs and initiatives to improve catastrophe response, citizen preparedness and protection, and prevention and mitigation of losses from natural catastrophes.

Banks bail on mortgages and MSR: (mortgage servicing rights)

Banks Bail

Wells Fargo announced that it is eliminating its entire remaining joint venture mortgage banking affiliates.  Bank of America is now in the midst of one of the biggest transfers of MSRs in history, selling servicing rights for about $215 billion of loans to Nationstar Mortgage Holdings Inc.  There is some history here: about half the loans involved are owned or guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae.  Bank of America agreed to a $10-billion-or-so settlement (some of the public received $3000 to keep quiet, many haven't even cashed the check) with Fannie over who was responsible for the problems with the massive defaults on loans from the mortgage boom era.

The Pope:

There is a Pope!  Francis himself is imposing a shake-up in the Vatican's staid and dysfunctional bureaucracy, setting in motion a reform plan and investigations into misdeeds at the scandal-plagued Vatican bank and other administrative offices.  It was a slightly more diplomatic expression of the direct, off-the-cuff exhortation he delivered to young Argentine pilgrims on Thursday.  In those remarks, he urged the youngsters to make a "mess" in their dioceses and shake things up, even at the expense of confrontation with their bishops and priests.

Another Tricky Day:

Well, Pod a lot of shaking going on, the whole world is fed up with this crap.  What's happening now is that the Banksters and Jack Wagons are getting their punk ass pockets picked.

TheWhoVEVO