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04-24-2009, 08:29 PM | #1 |
Project Avalon Moderator
Join Date: Sep 2008
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Posts: 1,259
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I smell foul play in the US banks....
Hi Everyone,
So the stress test has been done and the results given to the banks today. The banks were told to keep this information private until May 4th when an official announcement will be made with the results for us mere mortals outside the banking sector. Seriously, what does the Treasury think it's doing? Does it really think that the bank directors won't leak the information to their buddies? Of course all the politicains will also have a copy of this report and also their friends and families. This is an open invitation to white colar crime. In business terms this is called priviledged information and to act on it is a crime. If all these people know this information before the investment companies and individual Wall Street investors (who are normally the last ones to know anyway) they can dump and buy whichever stock they think fit. Then when the stools come in contact with the fan and everybody is running to the failed banks to try and get their money out, or buy stocks of the banks that faired well in this test, it will all be too late. They will ony be able to sweep up the crumbs so's to speak. Of course each bank will only get information pertaining itself, but in this day and age of dirty deals and politics, word will spread around and there will be mutual back scratching in the loop. Let's see what happens. Best regards, Steve Last edited by Steve_A; 04-24-2009 at 08:31 PM. |
04-24-2009, 08:57 PM | #2 |
Avalon Senior Member
Join Date: Sep 2008
Location: great northern boreal forest
Posts: 440
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Re: I smell foul play in the US banks....
i'm sure you're right on the money steve.
again, the rich folks get the upper hand over the plebes. the treasury knows exactly what it's doing. |
04-24-2009, 09:00 PM | #3 |
Avalon Senior Member
Join Date: Sep 2008
Location: Turtle Island
Posts: 2,776
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Re: I smell foul play in the US banks....
Blessings Steve,
I spoke with a very respected Avalon member last night on Skype and he suggested something big happening this weekend. He highly recommended checking out Larry Nichol's blog talk from yesterday. "We Now Have a Communist Government" Live today is: "The Fed's Are Getting Busted" Link: http://www.blogtalkradio.com/Nichols-live Stress-Tested Banks May Struggle as Bad Assets Triple By Elizabeth Hester and Linda Shen April 24 (Bloomberg) -- U.S. banks that get preliminary results today of government stress tests may struggle to raise money after bad assets at the biggest lenders almost tripled on average in the past year. Pittsburgh-based PNC Financial Services Group Inc. saw nonperforming assets -- those no longer accruing interest -- jump more than fivefold in the first quarter from a year earlier. They more than quadrupled at U.S. Bancorp in Minneapolis. At 13 of the largest U.S. banks, bad assets increased 169 percent on average from a year ago, according to first-quarter data compiled by Bloomberg. The tests on the 19 largest banks are likely to focus in part on loan quality as a measure of health. The lenders, which may need to raise $1 trillion in capital to cushion losses according to an April 23 KBW Inc. report, may have a hard time persuading investors to give them cash. Article continues: http://www.campaignforliberty.com/wire.php?view=4432 Please also see this article about nationalization of the banks: U.S. May Convert Banks’ Bailouts to Equity Share April 20, 2009 http://projectavalon.net/forum/showthread.php?t=13337 I also saw on Yahoo minutes ago about GM getting another bailout, not a bankruptcy. Treasury lends $2 billion more to GM Associated Press April 24, 2009 WASHINGTON - The Treasury Department said Friday it has provided General Motors Corp. with another $2 billion in federal loans as the giant automaker struggles to restructure. The Treasury said that the payment was made to GM on Wednesday and provides working capital to the company. A government report revealed earlier this week that the Treasury was prepared to provide GM with up to $5 billion more in federal loans and Chrysler with up to $500 million more in bailout support as they race against deadlines to restructure. GM has until June 1 to complete restructuring plans that satisfy the government's auto task force, while Chrysler has until April 30. Source: http://www.journalgazette.net/articl...49948/-1/BIZ09 Last edited by peaceandlove; 04-24-2009 at 10:31 PM. |
04-24-2009, 09:08 PM | #4 |
Avalon Senior Member
Join Date: Sep 2008
Location: Turtle Island
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Re: I smell foul play in the US banks....
I forgot to mention this Fever I Am Video:
Mike's commentary on Bank Stress Tests and Reinhardt's prediction of collapse on May 11th. Don't Panic! Total banking collapse in May? See articles linked at the right of this page under (more info). Video (11:36): http://www.youtube.com/watch?v=p9jtL...e=channel_page |
04-24-2009, 09:12 PM | #5 | |
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Join Date: Sep 2008
Location: Turtle Island
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Re: I smell foul play in the US banks....
See also Karl Denninger's Blog:
"Make 'Em Eat It - Personally 4/24/2009 Excerpt: Quote:
Last edited by peaceandlove; 04-25-2009 at 07:47 PM. |
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04-24-2009, 10:36 PM | #6 | |
Avalon Senior Member
Join Date: Sep 2008
Location: Turtle Island
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Re: I smell foul play in the US banks....
Commentary with links to articles from Fever I Am's blogspot.
April 23, 2009 http://feveriam.blogspot.com/ Quote:
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04-25-2009, 01:11 AM | #7 |
Avalon Senior Member
Join Date: Feb 2009
Location: Beyond the rim....
Posts: 412
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Re: I smell foul play in the US banks....
Looks like its happening sooner than they wanted. You can only control so much I guess.
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04-25-2009, 03:49 AM | #8 |
Avalon Senior Member
Join Date: Feb 2009
Posts: 8
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Re: I smell foul play in the US banks....
Interesting developments.
Then it seems to me, all is going as planned. There seems to be no surprises here. A bumpy ride? Some have been waiting for this to occur. When the next step in the plan arrives the public needs to be accepting of it. |
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