Big Banks - A Culture Above Any Law

FSB (Financial Stability Board) riding piggy back on BIS (Bank for International Settlements)

The FSB ensuring that UK financial institutions are fully compliant with their global standards and rules, which are above any national law.  So of certain circumstances, against a jurisdiction that is found to be taking action to bring the framework for financial regulation into line with international standards, there is a lesson to be learned.

The FSB enters into a confidential dialogue with the authorities concerned in order to further evaluate compliance with the relevant standards and possible ways to improve adherence to standards.  In other words, an indictment could cause broader problems in the financial system.  Lanny Breuer (Assistant U.S. Attorney General) surveyed Washington and London regulators, policy hands and sought assurance that the system could weather an indictment.

The global financial stability board has an allegiance that systematically lutes from any nation and the Banks shall enjoy immunity from the jurisdiction of any civil action against the Banks for damage caused by any vehicle belonging to or operated on behalf of the Bank.  All documents and any data media belonging to the Bank or in its possession, shall be inviolable (never to be broken, infringed, or dishonored) at all time and in all places.  This allows the Banks to pick and choose information released to prosecution and avoid charges which will only pay fines and penalties which are negotiated.  Hence the phrase “too big to jail” or in any case against the Big Banks, pay as you play and the authorities of any nation will not jail the cash cow.  The only harm that comes to the Big Banks is an internal investigation to see if they did any thing wrong.

Article 14 of the BIS Headquarters Agreement between the Swiss Federal Council and the Bank for International Settlements.  The Officials of the Bank, whatever their nationality, shall enjoy immunity from jurisdiction for acts accomplished in the discharge of their duties, including words spoken and writings, even after such persons have ceased to be Officials of the Bank.  The only time this will not apply to an Official of the Big Banks if that individual violates the trust of the Bank which will destroy an Officials immunity.

The Big Banks and Wall Street are the sovereign masters of the global financial markets, any government and President will and must get in line or they will be brought to their knees.  The only way to stomach any of these policies is to be a better player in the market, Larry Summers was right when it comes to investing pay close attention to what the Power Monopoly is doing and don't bet against them, the house always wins.

Today something has changed, where Russia and China are not content with Western Imperialism and North Korea is the Trump Card an Apocalypse Now.

Globe Backyard TV



Review this educational documentary by BestEvidence: All the Plenary's Men

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

Occupy - Police and thieves

A tribute to Occupy, you're noticed around the world for the stand you have taken against crooked corporations who have robbed the public.

The Wall Street gangsters have gotten American taxpayer dollars and are now using this money to hire attorneys and lobbyist to fight regulations. From derivatives, swaps, sub-prime mortgages, Repo 105 & 108 account practices, who can you trust? Well, actually this is why Greece has failed they bought into this not knowing what they bought and have paid dearly for it! It's understood that no one entity can explain all the tools in financial trading today, so with that are you going to invest your money if you don't know how and why it works? But a broker or trader along with fund managers tells you, by investing in these modern mechanisms it brings your debt down and so the investor believed this would work for them. As this unfolded the only ones cashing in were the financial institutions who created them.

Now for the next gold rush and what will they create, for the fact of the matter is no profits have been higher since Hedge Funds created in 1968. Mirroring the earlier booms in financial speculations in performance fees-structured investment vehicles of the 1920s and 1960s, during the 1990s the number of hedge funds increased significantly, with investments provided by the new wealth that was created during the 1990s stock market rise. During the first decade of the new century, hedge funds regained popularity worldwide and in 2008, the worldwide industry held US$1.93 trillion in assets under management. However, the 2008 credit crunch was hard on hedge funds and they declined in value and hampered "liquidity in some markets" causing some hedge funds to restrict investor withdrawals. What does this mean, the financial institutions are battling right now in Washington (the hand that fed them) so they can create the next gold rush. Let's face it, after the profits from the financial meltdown their not going to be satisfied with small percentage gain, what is the fun in that?

This is like a junkie looking for the next fix, the financial meltdown was a super high in profits never seen, thus greed always finds an endless field of conquest and leaves the man endlessly dissatisfied. Watch who you do business with and know what you're investing in. Even though MIT math majors are working in finance today, this is not rocket science because if you don't know how it works you won't launch, hell you won't even go out to the pad to see if it does fly. Simple for all of us, if you do not like the way a corporation is doing business don't buy what it sells in service or products, make them earn it. Grade them as if in school, a passing grade earns a business a failing grade will close their doors. Best advice for anyone anymore is, don't depend on advice to as where to put your money, education is expensive and we are broke. Take the time to learn about what is available and who is behind it.

In an anonymous survey of CFOs last year, the study found that at least 20% of companies are "managing" earnings and using aggressive accounting methods to legally alter the outcome of their earnings reports.

What may surprise you is that these accounting methods used by CFOs to "manage" the numbers are completely legal.

Occupy This!


 Mbrewer1959

Repo 105?

If there has ever been a Betty Crocker  recipe for book cooking it's this Repo 105 and 108 which is the same just a percentage separates the two by 3%.  Now accounting becomes rocket science,  firms are hiring grads from MIT with math majors and you would have to be one to even begin to calculate their books.

Repo 105 is an accounting maneuver where a short-term loan is classified as a sale. The cash obtained through this "sale" is then used to pay down debt, allowing the company to appear to reduce its leverage by temporarily paying down liabilities—just long enough to reflect on the company's published balance sheet. After the company's financial reports are published, the company borrows cash and repurchases its original assets.  Now isn't that clever,  a temporary move to hide your toxic assets until underwriters are done looking your books over and then give the borrowed money back to your buddy.  But oops,  Lehman could not pay back the borrowed money and all hell broke lose.

Same thing happen to AIG when they created insurance for the swaps and derivatives sold to fund managers and other countries throughout the world like Greece,  the rug was pulled because Lehman went BK so AIG could not cover their spread.  Then the bailout started, they all got money from the Feds on the backs of American taxpayers (Thank You) with that there was no demand for what they should do with the bailout money.  So now with all that cash  from the Feds the battlefield has begun.  Wall Street does not want to be regulated and has hired attorneys along with lobbyist with the hundred of millions and even billions to halt regulators from the fat cow profits they designed.

They got the bailouts and instead of helping they bit the hand that feeds them so this shell game that contains no red ball can continue.  Because let's face it, no profit has ever been created like the subprime meltdown, we have a junkie on our hands.  What you need to do is control your own investing, many programs available with the purchase of stocks directly through a company itself,  no need for a broker or fund manager, instead of feeding this junkie cut them off.


traynickel

AIG- Treasury Department Turns a Profit

AIG Stock Price

WASHINGTON (AP) — The U.S. government said Monday it will show a profit of more than $12 billion from its $182 billion bailout of AIG after selling a big chunk of its shares in the insurer.

The Treasury Department announced the sale of almost 554 million American International Group Inc. shares at $32.50 apiece, netting the government about $18 billion.

The sale reduces the government's stake in AIG to under 22 percent from about 53 percent. That puts its holdings in the insurer below a majority stake for the first time since the 2008 bailout.

It will also mean that the $182.3 billion bailout has been fully recovered, and then some. The Treasury Department said it and the Federal Reserve have recovered $194.7 billion so far.

"To stabilize and then restructure the company with a very substantial positive gain for the American taxpayer is a significant accomplishment, but we need to continue the critical task of implementing Wall Street reform so that the American economy is never put in this position again," Treasury Secretary Tim Geithner said in a statement.

AIG, which is based in New York, nearly collapsed at the height of the financial crisis in 2008. As the housing market crumbled, it suffered crippling losses from exotic financial instruments based on mortgage securities.

Its bailout was the biggest of the Wall Street rescue packages.

If there is more demand for the latest stock sale, underwriters have a 30-day option to buy up to $2.7 billion more of the government's stake in AIG. If the option is fully exercised, the government's stake in AIG would drop to 16 percent.

AIG said it's buying back $5 billion worth of the stock.

Its shares closed Monday at $33.30, slipping 69 cents, or 2 percent.

52-Wk High 35.36

52-Wk Low 19.18

TheStreetTV

Jack a true Businessman

Wealth is the abundance of valuable resources or material possessions or the control of such assets. The word wealth is derived from the old English wela, (well) which is from an Indo-European word stem. An individual, community and region or country that possesses an abundance of such possessions or resources is known as wealthy.

Business as usual:

SuperEd86