| User Info
| CORRUPTION: Reverse-Insurance?! (FDIC) in forum [Market-Ticker]
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$lacker
Posts: 63
Incept: 2009-08-10
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I can only hope that they also open up a life/auto/disability insurance program... we could all use the extra cash
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Mayorquimby
Posts: 13909
Incept: 2008-09-18
The Archaic Past
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Animals willingly walk in to be slaughtered. People are no different. Until, people, en masse, resist and start to take action, power, control and fraud will only consolidate amongst TPTB. It's nature's process. We here on TF are like Jack Nicholson screaming and yelling in One Flew Over the Cuckoo's Nest. Nobody gives a rat's ass.
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They who wish to hurt you, work within the law.
- Morrissey
Gold is theft.
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Krzelune
Posts: 5513
Incept: 2007-10-08
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Last week I almost suggested "tongue in cheek" that FDIC should get insurance against the banks failing from AIG so they could launder their bailout, but I figured you'd ban me for being a tin foil hat wearing goof ball.
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The desire of millions, the inconvenience of millions, the suffering of millions, the death of millions, does not concern them because of the evolutionary humanist lens they peer through.
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Mayorquimby
Posts: 13909
Incept: 2008-09-18
The Archaic Past
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This would upset me to the point of insanity if I was short financials.
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They who wish to hurt you, work within the law.
- Morrissey
Gold is theft.
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Greenrebellion
Posts: 475
Incept: 2009-01-03
Los Angeles
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I knew a ticker was forthcoming on this, my jaw dropped at the pure stupidity of the story when I first read it this morning. I guess this kind of **** shouldn't shock me anymore by now.
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Markytom
Posts: 272
Incept: 2009-02-19
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I thought that the US Government might nationalize the banks - turns out it's the banks that are trying to nationalize (i.e. take ownership of) the US Government. And they may just succeed at doing so. Unbelievable.
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Stoverny
Posts: 391
Incept: 2009-02-25
Banned
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and farther down the rabbit hole we go...
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Logicaloutlaw
Posts: 619
Incept: 2008-01-23
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Tinfoil: it's the new "black".
Now, put your .gov-issued rose-colored goggles on and get back in line like a good citizen.
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All the money you make will never buy back your soul. - Bob Dylan, Masters Of War
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Widgeon
Posts: 13481
Incept: 2007-08-30
Region formerly known as the United States
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This has really got to be the most incredible thing I've read yet. I'm stunned.
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Mayorquimby
Posts: 13909
Incept: 2008-09-18
The Archaic Past
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Game. Set. MATCH .
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They who wish to hurt you, work within the law.
- Morrissey
Gold is theft.
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Soros
Posts: 3109
Incept: 2007-08-31
La La Land
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Quote:Borrowing from the industry is allowed under an obscure provision of a 1991 law adopted during the savings and loan crisis. The lending banks would receive bonds from the government at an interest rate that would be set by the Treasury secretary and ultimately would be paid by the rest of the industry. The bonds would be listed as an asset on the books of the banks. 
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So long and thanks for all the fish.
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Widgeon
Posts: 13481
Incept: 2007-08-30
Region formerly known as the United States
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With this "proposal" seeing the light of day we can now safely call Sheila anything we want. She's clearly an idiot; and I'm probably being charitable by not suggesting anything else.
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Logicaloutlaw
Posts: 619
Incept: 2008-01-23
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Markytom said: Quote:...turns out it's the banks that are trying to nationalize (i.e. take ownership of) the US Government. And they may just succeed at doing so. Unbelievable. Marky, where have YOU been? That's old news. Welcome to the United Sachs of Goldman. Now assume the position, citizen...
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All the money you make will never buy back your soul. - Bob Dylan, Masters Of War
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Ksfq
Posts: 1109
Incept: 2007-07-11
California
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Brilliant! Just brilliant!
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Realist
Posts: 124
Incept: 2009-07-14
Pennsylvania
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Karl,
I was just going to email you a request to write about this development. Thanks for writing about it.
If the Government is considering a plan like this, what other "official" fraud and corruption will they consider? What's worse is that some of these considerations will actually be implemented. Is there no end to this?
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A trillion here, a trillion there and pretty soon you're talking about real money.
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Kuhio
Posts: 208
Incept: 2008-12-31
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A democracy cannot exist as a permanent form of government. (Unknown - attributed to Tytler.)
The fault, dear Brutus, is not in our stars, but in ourselves, that we are underlings. (Shakespeare - Julius Caesar)
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Karl, the corruption that so runs so completely throughout the entire system is acknowledged and acquiesced not only by Congress, but by the American people themselves.
Once one comes to understand this essential truth, then all of the revelations exposed at ZH and your excellent detailed analyses begin to make perfect sense.
Humans as a species simply cannot bring themselves to handle the hard tasks unless there are no longer any alternatives or options. We put off WWII until we had no other choice; then, once in, we had no problems nationalizing an entire economy, drafting millions and sending hundreds of thousands into certain death.
Likewise, we will never deal with the underlying issues of this crisis until it is too late. Nothing is going to happen until it happens - and when it does, we will gladly march in lockstep following whichever "dear leader" points the way.
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Perfectstorm
Posts: 211
Incept: 2008-02-25
florida
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Looks like the only real pool of cash left is the deposits and while they are being counted 2 or 3 different ways already bennie is also happily devalueing them for his own purposes. Things are deteriorating so fast they can't even give us a full ponzi. It looks fractional now too.
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Plocequ1
Posts: 526
Incept: 2009-08-23
Boston,Mass
Banned
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Excelent Post mayorquimby. We need more people like RP mcmurphy. And don't forget Chief.
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"Man looks into the Abyss, and there's nothin' staring back at him. At that moment, man finds his character, and that's what keeps him out of the Abyss"... Lou Mannheim, Wall Street."Its a huge **** sandwich and were all gonna have to take a bite"... Lt. Lockhart , Full Metal Jacket.
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Mayorquimby
Posts: 13909
Incept: 2008-09-18
The Archaic Past
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Sounds like a good time for this one:
"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin . . . . Bankers own the earth. Take it away from them but leave them the power to create money, and, with a flick of a pen, they will create enough money to buy it back again. . . . Take this great power away from them and all great fortunes like mine will disappear, for then this would be a better and happier world to live in. . . . But, if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit."
- Sir Josiah Stamp, president of the Bank of England and the second richest man in Britain in the 1920s.
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They who wish to hurt you, work within the law.
- Morrissey
Gold is theft.
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Blackswan
Posts: 5563
Incept: 2007-11-06
Just outside of Philly
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Shot ticker off to my pos Senator.
You can't make this **** up. Mr. Specter can you please look into this or are you to busy worrying about who is the next Eagles QB?
Respectfully,
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“It’s checkmate. Everywhere it’s checkmate.”
Hugh Hendry
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Sushihorn
Posts: 7802
Incept: 2007-10-22
Arlington, TX
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ONE
BIG
CIRCLEJERK
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Mayorquimby
Posts: 13909
Incept: 2008-09-18
The Archaic Past
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AT
OUR
EXPENSE
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They who wish to hurt you, work within the law.
- Morrissey
Gold is theft.
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Risingcream
Posts: 4406
Incept: 2007-09-07
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Can we cry yet?
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Civilization...ancient and wicked. --Subotai
“The distance between insanity and genius is measured only by success”
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Mangoelvis
Posts: 1727
Incept: 2009-07-11
Las Vegas, NV
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Sheila just came out with an announcement that they were unlikely to take this route. Maybe she reads the Ticker too.
FWIW, announcement came via CNBS as "Breaking News" about 30 min ago.
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Evolutionarily speaking, sloths must taste terrible.
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