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

Swiss UBS Banks gets Coal for Christmas

Well since 1995 Transparency International has been grading corruption in all countries.  At the head of the class Sweden has always been at the top coming in 4th place in 2011 with a score of 9.3, that is excellent. I mean even during WWII Hitler went around Sweden, why? Germany was already receiving iron ore from Sweden on a cash and carry basis. Germany also needed a neutral country as a conduit for goods and foreign currency, and a stage for negotiations and an outlet to the world. As bizarre as it sounds, some goods and materials were purchased by neutral 3rd countries from Allied nations (the US for example) and sold to the Germans via Sweden. Traditionally a neutral country for over 200 years and Hitler did not want to bother Sweden when he already had Norway, a more strategically located nation.

Being neutral does have advantages but will also get you in trouble working with the wrong partners as is happening for Swiss Bank UBS. For example, the Swiss bank had agreed in 2009 to pay $780 million to settle charges that it had helped clients avoid taxes. Wednesday, Dec 19th UBS announced it would plead guilty to one count of felony wire fraud as part of a broader settlement. With federal prosecutors, British, Swiss and American regulators secured about $1.5 billion in fines, more than triple the only other rate-rigging case, against Barclays, their first Libor (rate-rigging) settlement, a $450 million payout. The Justice Department said two former UBS senior traders, Tom Alexander William Hayes, 33, of Britain, and Roger Darin, 41, of Switzerland, will be charged with conspiracy, while Hayes also will be charged with wire fraud in New York federal court. Justice Department officials said they believed the two men were in Britain and Switzerland and would be seeking their extradition.

Lanny A. Breuer

“We are holding those who did wrong accountable,” Lanny A. Breuer, the head of the Justice Department’s criminal division, said at a news conference on Wednesday. “We cannot, and we will not tolerate misconduct on Wall Street.”
By securing a guilty plea against a subsidiary, the department has shown that it is willing to punish severely one of the world’s most powerful banks. Fallout from the UBS case is expected to increase pressure on some of the world’s largest financial institutions and spur settlement talks across the banking industry. UBS said some of its personnel had "engaged in efforts to manipulate submissions for certain benchmark rates to benefit trading positions" and that some employees had "colluded with employees at other banks and cash brokers to influence certain benchmark rates to benefit their trading positions."
Britain's financial regulator called the misconduct by UBS "extensive and broad," with the rate-fixing carried out from UBS offices in London and Zurich.The most significant wrongdoing took place within the Japanese unit, where traders colluded with other banks and brokerage firms to tinker with yen-denominated Libor and bolster their returns.

Since Thanksgiving, UBS has tried to negotiate lower penalties with the regulator, according to people briefed on the matter. But David Meister, the agency’s enforcement chief, would not back down from $700 million in fines, an agency record.
The Commodity Futures Trading Commission cited more than 2,000 instances of illegal acts involving dozens of UBS employees across continents.

Gary S. Gensler

“The settlement reflects the magnitude of the wrongdoing and how critical it is that these be honest and reliable,” said Gary S. Gensler, chairman of the Commodity Futures Trading Commission, the American regulator that opened the UBS investigation.
The Royal Bank of Scotland has said it expects to pay fines before its next earnings statement in February, while American institutions, including JPMorgan Chase, also remain in regulators’ cross hairs.

Sergio Ermotti

"We deeply regret this inappropriate and unethical behavior. No amount of profit is more important than the reputation of this firm," said UBS Chief Executive Sergio Ermotti.

Well, I guess Santa is coming to town to mop up and for Sweden's grade for Transparency I guess this will cut down some, looks like we are going to change even if you are too big to fail. Good People of Earth have had enough and the pressure is ON!

ITVNews