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Monster Orders Upholsterd the Stockholm Exchange

Submitted by Roanman on Thu, 11/29/2012 - 09:56


Speaking of parasitic banks, does anyone think this clusterf#@& came from some private trader?

From SvD Naringsliv ..... I dunno ..... via google translate.

As always, click on the photo below for the entire translated ..... ish ..... piece.


Monster Orders Upholstered Exchange

Isn't that just the single greatest headline you've ever read?

Stockholm Stock Exchange was paralyzed on Wednesday morning of a purchase order of over 4.2 billion index futures. The value of words corresponding to 131 times Sweden's gross domestic product, and the stock market witnessed technical problems. 



The giant warrant december semester in OMXS30, a security equivalent to a basket consisting of the Stockholm Stock Exchange's 30 largest companies, and where trade is very important for the overall pricing of the stock market.

The order was on buy side of the order book and covered more than 4.2 billion futures, to a unit price of almost 107,000 dollars. It gives a theoretical value of 459 561 500 030 000, ie nearly 460 trillion dollars. Sweden's gross domestic product, by comparison, amounted in 2011 to more than 3500 billion.


To quote six American Presidents on money creation and the nature of the banks.

Submitted by Roanman on Sat, 11/03/2012 - 08:12


Since we're already on the subject.


If the American people ever allow private banks to control the issue of their  currency, first by inflation, then by deflation, the banks … will deprive the people of  all property until their children wake-up homeless on the continent their fathers conquered … The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.  Thomas Jefferson

I believe that banking institutions are more dangerous to our liberties than standing armies. Thomas Jefferson

The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating.  Thomas Jefferson

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its constitution; I mean an additional article, taking from the federal government the power to borrow money.  Thomas Jefferson


History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.  James Madison




If (As the supreme court had recently inferred) Congress has the right under the Constitution to issue paper money, it was given to them to be used by themselves, not to be delegated to individuals or corporations.  Andrew Jackson




The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of  consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity.  Abraham  Lincoln

Issue of currency should be lodged with the government and be protected from domination by Wall Street. We are opposed to … provisions [which] would place our currency and credit system in private hands.   Theodore Roosevelt
I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of  credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most  completely controlled and dominated Governments in the civilized world no longer a  Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.  Woodrow Wilson 

Yes you did you half-witted narcissistic twit!!!!!



Banks and government ..... it goes on and on and on and ...

Submitted by Roanman on Thu, 07/05/2012 - 19:51


This story is everywhere and has been for the past 18 hours.

Of the reporting/analysis out there we thought this was the best and most pointed effort.

From the Mark Tapscott at the Washinton Examinor.

The gears above or the photo below will link you up.


Issa report exposes the wink and nudge of 'congressional ethics'



An investigation by the House Committee on Oversight and Government Reform demonstrates why the House and Senate Ethics committees are as useless as the proverbial screen door on a submarine.

The oversight committee -- which is chaired by Rep. Darrell Issa, R-Calif. -- reviewed more than 120,000 documents and interviewed legions of witnesses during its three-year probe of how Angelo Mozilo's Countrywide Mortgage gained sufficient influence to block reforms that could have prevented or significantly lessened the Great Recession of 2008.

It's a sordid tale that includes sweetheart mortgage deals for key Senate Democrats, three former Clinton administration Cabinet secretaries, and several strategically placed congressional aides from both sides of the aisle.

The committee estimates that more than 17,000 special mortgages were issued via Mozilo's "Friends of Angelo" VIP program at Countrywide between 1996 and 2008. Among the many recipients, two stand out in the Issa report.

Sen. Chris Dodd, the Connecticut Democrat who chaired the powerful Senate Committee on Banking, Housing and Urban Affairs, initially claimed not to know about his preferential treatment. He was cleared by the Senate Select Committee on Ethics in August 2009, but he then retired in 2010 after the public learned how close a friend of Angelo he had been. Dodd received waivers of all fees on two mortgages whose combined worth was nearly $800,000.

The Issa panel says Dodd must have known more than he has let on so far, because he also "referred Mary Jane Collipriest, communications director for Senator Robert Bennett, to the VIP unit when she refinanced her mortgage in 2002. Countrywide waived processing and junk fees for Collipriest." ("Junk fees" is a trade term for assorted upfront lender charges.)

Collipriest's immediate boss was then the second-ranking Republican on the banking committee. She became Bennett's chief of staff in 2006.

Dodd helped launch the bailout mania that seized Washington in 2008. The Issa report said "on June 17, 2008, the same day he acknowledged for the first time that he was a Countrywide VIP customer, Dodd announced that he was bringing to the Senate floor a housing bailout to help Countrywide and other struggling subprime lenders.

"Dodd's plan, known as the Dodd-Shelby bill, allowed mortgage lenders to dump up to $300 billion of their worst loans on to taxpayers via a new Federal Housing Administration refinancing program."

The Issa report notes that shortly thereafter, this newspaper "obtained a 'confidential and proprietary' document" that made clear the bailout section of Dodd's measure was exactly what Countrywide wanted.


Your Bank at Work

Submitted by Roanman on Mon, 07/02/2012 - 16:43


From the LA Times via Jesse's Cafe Americain.


Some banks require customers to pay all costs in legal disputes

Checking account disclosures at some banks make the customer liable for the bank's losses, costs or expenses from any dispute over the account, regardless of who wins.

June 21, 2012|By Jim Puzzanghera, Los Angeles Times
WASHINGTON — Some consumers might be in for a surprise if they take their banks to court over checking or credit card disputes: A provision in account agreements says even if you win, you lose.

Checking account disclosures at four large banks and one large credit union make the customer liable for the bank's losses, costs or expenses — including attorney fees — from any dispute over the account, regardless of who wins.

HSBC's 36-page Rules for Deposit Accounts phrases its clause this way:

"You agree to be liable to the bank for any losses, costs or expenses the bank incurs as a result of any dispute involving your account. You authorize the bank to deduct any such losses, costs or expenses from your account without prior notice to you."

Neil Brazil, an HSBC spokesman, said the bank's provision was designed primarily to protect it from any losses it might incur from legal disputes between the primary account holder and other authorized users, such as a spouse.


The moral of course being, read the damn paperwork.


Watching vids on a Saturday morning

Submitted by Roanman on Sat, 06/09/2012 - 07:51


We've run a number of interviews with law professor and former federal government banking regulator Bill Black who has become one of our personal heroes having put a no kidding thousands of bankers in jail during the Savings and Loan fiasco.

We learn something every time we stumble across one.

The overall quality isn't as good as the couple we have posted previously, but it is no less educational.

If you'd like to know how it is that the banks in this country were able to effect another no kidding trillions of dollars in fraudulent mortgages while riding off into the sunset with a bailout on the losses leaving you with the bill, Professor Black has your answers.

At just under 14 minutes, you have the time.

Way super double highly recommended.

Our highest recomendation. 



We have two previous interviews with professor Black posted here.


John Dingell gets it right in 1999

Submitted by Roanman on Tue, 01/31/2012 - 19:15


Too bad he goes to babbling a bit about privacy issues at the end of this speech, because John Dingell hits it out of the park ... with men on ... and then some ... during the 1999 debate on the Gramm-Leach-Biley Act.  

Which legislation repealed those portions of the Glass Steagall act that seperated institutions that take customer's deposits from investment banks and insurance companies.

Too big to fail said Mr. Dingell in 1999.





Click on the above cartoon to link up to Khalil Bendib who I think is the above artist as I can't read the name ... at



Your government at work for the banks ... part 2

Submitted by Roanman on Sat, 01/21/2012 - 16:44


This from Reuters who unlike most of the rest of our national media, has recently awakened to the smell of coffee and is now rolling.

Ah well, better late than never.

Not a week goes by that somewhere in my reading somebody doesn't marvel that more than 3 years into this mess nobody is in jail or even under indictment for all of the fraud and basic malfeasance that has taken place at the banks.

Here's your likely answer.

As always click anywhere below for the entire story.

Highly educational.


Insight: Top Justice officials connected to mortgage banks



(Reuters) - U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department's criminal division, were partners for years at a Washington law firm that represented a Who's Who of big banks and other companies at the center of alleged foreclosure fraud, a Reuters inquiry shows.

The firm, Covington & Burling, is one of Washington's biggest white shoe law firms. Law professors and other federal ethics experts said that federal conflict of interest rules required Holder and Breuer to recuse themselves from any Justice Department decisions relating to law firm clients they personally had done work for.

Both the Justice Department and Covington declined to say if either official had personally worked on matters for the big mortgage industry clients. Justice Department spokeswoman Tracy Schmaler said Holder and Breuer had complied fully with conflict of interest regulations, but she declined to say if they had recused themselves from any matters related to the former clients.

Reuters reported in December that under Holder and Breuer, the Justice Department hasn't brought any criminal cases against big banks or other companies involved in mortgage servicing, even though copious evidence has surfaced of apparent criminal violations in foreclosure cases.

The evidence, including records from federal and state courts and local clerks' offices around the country, shows widespread forgery, perjury, obstruction of justice, and illegal foreclosures on the homes of thousands of active-duty military personnel.


Change you can believe in.



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