Community | December 02, 2010 | 14 comments

The Federal Reserve bailout scandal explained

source: http://www.rys2sense.com/anti-neocons/viewtopic.php?f=11&t=23845&p=151481#p151481

maasanova
All the numerous tendrils of financial corruption are starting to re-converge on the core of the scandal. Here is what happened and how you got screwed by the bankers and the US Government in layman's terms.

1. Wall Street created the mortgage-backed security as an investment device, sold them, used ponzi scheme tactics to make them look immensely profitable while the SEC looked the other way.

2. In order to meet the demand for MDS created by the illusion of major profits from the Ponzi activity, the mortgage bundlers pledged the same mortgages over and over and over again into different investment bundles.

3. In late 2008 the fraud started to appear in US financial circles. Congress, itself invested in the financial firms that bought those fraudulent mortgage-backed securities, voted through TARP to save their own fortunes at the expense of the US taxpayer.

4. In 2009, the foreign banks began to realize that Wall Street had screwed them and began to demand the repurchase of the bad paper. The Fed started handing out trillions of dollars borrowed against the American people, mostly to foreign banks, to cover the fraud.

5. But cash was flowing out of the nation faster than the Federal Reserve could print it up. Something needed to be done to balance the loss and put the bankers back into the black, so the only real hard assets left n the nation, Americans' homes, were to be sacrificed for the good of the banks' capital structure.

6. By perpetuating tax credits that encouraged the offshoring of American jobs to other countries, the US Government created a situation in which millions of Americans would no longer be able to make their mortgage payments and lose their homes to the banks. The banks would then add the full value of those homes to their balance sheets to keep themselves appearing solvent.

The US Government deliberately killed your jobs, so the fraudulent bankers could save themselves from prison by taking your homes to cover the buybacks from Europe. That is pretty much the story of the last few years.

Analysis from Mike Rivero at What Really Happened
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14 comments // The Federal Reserve bailout scandal explained

  • Sovereignthink
  • Sovereignthink
    • 0
      Sovereignthink  

    • It will fail so long as the core measurement of the individuals, the dollar, the currency of the people, is a privately owned debt based system of slavery.
      It is Fraud in very value of or lives, or parents lives, our grand parents lives and what value is allowed to be given to our children or kept for our own happiness.

    • 1 year ago
  • remanns
  • DogBoy
    • 0
      DogBoy  

    • Good one. Middle class gets screwed again. Sad but true This made it easier to understand the scope of the financial arm of the money mongers.Capitalism is a failure and will continue to fail at the expense of the middle class.

    • 1 year ago
  • telcod
    • +1
      telcod  

    • And the big so fucking what question is, "If the powers that be could pull this off, what do they have to worry about." Let the people rant and rave, give them all the information they want. The real power has been solidified for some time now and they ain't gonna give it back. They have recreated a feudal system, dumbed down the population, frightened the people with stories of witches and demons, sent our children off to die in occupations for oil and applied the lessons of buying Manhattan for a pocketful of trinkets on a national scale. All this while leading people to believe that they are all able to become millionaires in the wasteland of the free, that greed is good, that your neighbors are to be feared, that you live in a free country (free to howl at the moon), that we are better than....and that God was a capitalist and a republican. In amerika the new game is, "Be grateful for what we let you have or we will take it all away at once. But make no mistake we will get it all"

      The lesson of Rome and the Medieval Feudal states? No George Washington took down Rome and the feudal states disappeared after the purge by the plague. America disappeared a long time ago and the US government is bought and paid for, except for a few impotent patsy, do gooder types they allow for entertainment and contrast. That is what the Federal Reserve knows and most people are clueless about. Global charades anyone? And how about those awful North Koreans? Keep on voting. Better rethink legalizing drugs. The beer might not make it much longer.

    • 1 year ago
  • Dagum
    • 0
      Dagum  
    • telcod:

      The powers that be have nothing to worry about .

      Nobody cares to stop them. Only when it's blatantly obvious, but way too late, will anything close to amounting to a politically significant portion of the U.S. population, BEGIN to wake up.

    • 1 year ago
  • Sovereignthink
    • 0
      Sovereignthink  

    • The Bankers or US – It’s Openly Admitted, It’s Fraud, It’s a Scam and It Can Never Be Repaid

      The Austerity, Taxation, Regulation and Policy Enforcement Descend on United States as China Stops All New US Treasury Purchases and Down Grading USA Credit Rating and Debt Consumes Europe It’s The Bankers Or Us
      Either the bankers or us will be free at the end of this crisis. The total cost of the derivatives is over $1.5 Quadrillion, a sum that will completely consume the world in perpetual debt, a sum that can never be repaid. It is an economic shearing, a shearing of the sheep. The economic crisis has always really been a complete transfer of power to the banking class.
      Greenspan admits that it was all a scam and fraud……
      Alan GreenspanAlan Greenspan: ‘There are two fundamental reforms that we need; that is to get adequate capital and two to get far high levels of enforcement of fraud statues. Existing ones I’m not even talking about new ones.
      Things were being done which were certainly illegal and clearly criminal in certain cases. In which, I mean Fraud, Fraud is a Fact, Fraud Creates very considerable instability in competitive markets.
      If you cannot trust your counter parties it won’t work and indeed we saw that it didn’t.’
      (full)
      sovereignthink.wordpress.com/2010/12/02/the-bankers-fraud-or-us
      -sovereignthink

    • 1 year ago
  • CalgarC
    • 0
      CalgarC  

    • next year we shall have wiki-banks and its gonna be fucking EPIC... i expect to see many arrests out of this and sadly some assassinations as well

    • 1 year ago
  • madjik68
    • 0
      madjik68  
    • CalgarC:

      I waiting with much anticipation to see what Mr. Assange will release about the banks. I'm sure it's stuff we already know. But, it would be nice to have a little vindication on the matter.

    • 1 year ago
  • maasanova
  • CalgarC
  • CalgarC
  • maasanova
  • CalgarC
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