Thursday, October 20, 2011
I've moved to Wordpress
Here's the link. Please go there and sign up to continue to get emails of posts.
Wednesday, October 19, 2011
In case you missed it -- important development with Bank of America
Lifted from Zero Hedge. The original post with links is here. Notable that OWS is seen as the go-to place to deal with this criminal behavior.
Many people are furious that the Federal Reserve and Bank of America have initiated a coup to dump billions of dollars of losses on the American people (and see this).
Many are suggesting that the “Occupy” protesters rally to stop this robbery.
One of the top stories currently on Reddit (one of the top social media sites), is:
OWS and 99%: Please pay attention to this and stop it from happening (BofA and Fed socializing losses)
I understand that the Occupy protesters are, in fact, currently debating making a statement on this theft.
Currently, there are two competing draft statements. This one is from someone very savvy on understanding how the average American thinks:
A portion of the 53 trillion dollars of derivatives (yes that’s with a t, about the size of the entire global economy) transferred to Bank of America’s parent company from Merrill Lynch in 2008 has recently been transferred to Bank of America.
Derivatives contracts in a bank are paid before anyone else gets paid.
Therefore, these derivatives contracts would be paid before depositors receive their money. These people just cut in front of you.
It's very simple, the reason that banks and trading houses were originally separated was to prevent this sort of thing. What’s really going to happen is that the government is going to end up bailing out the FDIC … so this will end up being a government bailout.
You’ll end up getting shafted, either by derivatives holders cutting in front of you or by your having to bail out the FDIC so it can bail out banks depositors. Either way, this is yet another instance of looting by the big banks and big government.
Just say no … don’t let this stand.
And this one is from two people who are experts on the technical issues involved:
We denounce Bank of America’s transfer of high risk derivatives to its federally insured accounts. This is yet another example of systemically dangerous institutions, big banks like BofA and JPM, once again attempting to shift potentially substantial losses onto the backs of hardworking Americans. The fact that the Federal Reserve supports this action demonstrates Ben Bernanke’s complicity and/or gross incompetence in supporting the Wall Street elite at the expense of tax paying citizens.
Updates as they develop …
Many people are furious that the Federal Reserve and Bank of America have initiated a coup to dump billions of dollars of losses on the American people (and see this).
Many are suggesting that the “Occupy” protesters rally to stop this robbery.
One of the top stories currently on Reddit (one of the top social media sites), is:
OWS and 99%: Please pay attention to this and stop it from happening (BofA and Fed socializing losses)
I understand that the Occupy protesters are, in fact, currently debating making a statement on this theft.
Currently, there are two competing draft statements. This one is from someone very savvy on understanding how the average American thinks:
A portion of the 53 trillion dollars of derivatives (yes that’s with a t, about the size of the entire global economy) transferred to Bank of America’s parent company from Merrill Lynch in 2008 has recently been transferred to Bank of America.
Derivatives contracts in a bank are paid before anyone else gets paid.
Therefore, these derivatives contracts would be paid before depositors receive their money. These people just cut in front of you.
It's very simple, the reason that banks and trading houses were originally separated was to prevent this sort of thing. What’s really going to happen is that the government is going to end up bailing out the FDIC … so this will end up being a government bailout.
You’ll end up getting shafted, either by derivatives holders cutting in front of you or by your having to bail out the FDIC so it can bail out banks depositors. Either way, this is yet another instance of looting by the big banks and big government.
Just say no … don’t let this stand.
And this one is from two people who are experts on the technical issues involved:
We denounce Bank of America’s transfer of high risk derivatives to its federally insured accounts. This is yet another example of systemically dangerous institutions, big banks like BofA and JPM, once again attempting to shift potentially substantial losses onto the backs of hardworking Americans. The fact that the Federal Reserve supports this action demonstrates Ben Bernanke’s complicity and/or gross incompetence in supporting the Wall Street elite at the expense of tax paying citizens.
Updates as they develop …
Moving to WordPress
Please go to the new blog and sign up on the upper right for email notifications.
Housekeeping
1. I've noticed that the chimpster's email has not been getting to me -- the reason for my silence to any messages you've sent. That is fixed, but given the limited email list google allows, it would be better if you could go to the blog directly, or get the RSS feed into your reader. Alternatively, I'm going to set up a conduit to twitter which could be used.
2. Often for some of you, there is no link visible in the email version of the blog post-- that has to do with your email program which doesn't seem to capture the html coding for whatever reason. The solution in this case is always to click on the link in the signature line which will take you to the blog page.
3. I am soon going to move to wordpress in order to integrate with Twitter -- due to the obvious recent developments in political life. I am hoping that will be relatively seamless, though I haven't assessed its email/listserv function.
I heartily recommend investing the time to learn about how twitter works -- it's just another tool in the box.
2. Often for some of you, there is no link visible in the email version of the blog post-- that has to do with your email program which doesn't seem to capture the html coding for whatever reason. The solution in this case is always to click on the link in the signature line which will take you to the blog page.
3. I am soon going to move to wordpress in order to integrate with Twitter -- due to the obvious recent developments in political life. I am hoping that will be relatively seamless, though I haven't assessed its email/listserv function.
I heartily recommend investing the time to learn about how twitter works -- it's just another tool in the box.
Marxism Raising Its Ugly Head?
Nassim Taleb on Bloomberg, essentially saying that poor capitalist management has endangered capitalism.
Tuesday, October 18, 2011
Taibbi on Rush Limbaugh
I never thought I’d see it, but some of the dukes and earls high up in America’s Great Tower of Bullshit are starting to blink a little bit.
The right realizes they risk being unmasked. The rest of the post here.
The right realizes they risk being unmasked. The rest of the post here.
Saturday, October 15, 2011
Video of the People Arrested For Trying to Close Their Citibank accounts
The authorities seem to be getting twitchy. Cops in the service of the megabanks doesn't have such good "optics", as they say in certain business circles.
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