Answer to the American Taxpayer …We’ll never surrender….

The banks are using the bailout money to prop and hedge the derivatives they still have out there, but assets[other banks foreclosures etc], and or give bonuses…..They could just as well hold on to these bad assets as well as the goverment can and eventually make money off of them.

First off the banks need [as they were supposed to] to have a certain percentage of cash assets on HAND of their net worth value of deposits. To go along with this the FDIC somehow needs to be able to BACK up it’s insurance. Even under the 100,000 per Social Security number according to the 2006 regulations they could not back every account for that amount of money. Now they have raised it to 250,000 per Social Security number, Where’s that money going to come from?? It’s a farce!!

As I understand it the bad assets when held long enough WILL make money and lots of it which is why the government doesn’t mind taking them on,

Get rid of or regulate the hell out of derivatives,

Then some entity preferably Not the government must be able to make the banks as business owners have their books be transparent and not holding 4 sets of them.We need to reincorporate the glas segal act and obey the now revised version of Basil ll.

The banks and especially the powerful ones are all tied to the world banks so this is going to be a very difficult road to haul, JP Morgan and the Bank of New York being the two biggest perpetrators of fraud. The Bank of New York has been being used to launder money from the world banks and JP Morgan in conclusion with the FED [notice that they since the time of history have always come out on top] is the lead bank in taking over the others. There is a timeline of events,

It is time for we the taxpayers to quit taking the hit for the incompetent and manipulative manner in which the FED along with the banks not only saw this all coming; if in fact it wasn’t planned, but the banks in conclusion with each other all manipulated the markets so that not only did they get us coming but going to.

The FED needs to be completely overhauled has of the moment it is actually running things with or without the world banks.That is too much power and actually a conflict of interest in the entire way it’s structured and especially the power given to the head. I believe that whomever is the head of the FED if in fact we decide to keep them around should be an economist with a banking background but with no ties absolutely with the banks. This person should maybe be joined by 8 others to complete what would be like a supreme court?

The terms that they would serve, would as we have learned, from congress be carefully determined.

They signed away the glas segal act and then ignored the Basilll agreement. The FED is directly involved with all the banks getting bailout monies who then either used it to shore up more derivitives, bought assets such as other banks and/or also gave bonuses which are now I’m sure in the Bahamas or Dubai. So this petition needs to encompass a lot of entities. That’s why I’m having such a hard time with it. Thoughts?

cabin:
Who really received our bailout dollars?

Bloomberg and fox filed FOIA to a federal court and got turned down because the Fed reserve is a private institution, and is not covered under FOIA, the court ruled. Sounds fishy to me that they work hand in hand with the treasury with taxpayer money! Still digging, have heard that France, England, Germany, Russia, and China received payments on securities that were outstanding, right after the money was distributed. I’m trying to find written proof, and a reference….

rockingjude:
France basically blackmail us when the first bailout was given. That was the reason for the emergency session. They figured that the Basil ll agreement had been violated, but really it was a wasted or empty threat as they all bellied up to the table.They knew that AIG collected little or no collateral to secure these derivatives and CDOs. I wonder if we could find the (Fox)transcript and file it another way. I have a feeling that this might have to be separated into parts. bummer

Answer to the American Taxpayer or else The Global Economy will take you down, bank by bank and corporation by corporation!

We’ll never surrender….