Ann Barnhardt and I (Warren Pollock) have an open conversation organized to provide background to this crisis, the setting of legal precedent, netting, settlement, and future trends including a potential bank holiday. We talk about MF Global as it applies to savings and commercial banking, brokerage, insurance, and commodities. We talk about numeric impossibility of solving the problem, incest between government and finance, having the victim of the crisis pay rather than the fraudster. We explain how the MF Global bankruptcy process will define how customer funds will be treated in a bank holiday. We talk about the idea of having an honest bank holiday to root out fraud vs an economic crisis which plays to looting and criminal activity of vested interest.
Washington is owned by the private global banking cartel that owns Wall Street. International law does not apply to this criminal cartel. They stole trillions of dollars from the American people with help from corrupt politicians over a stretch of many decades, culminating in the government bailout in 2008, and they have not been held accountable.
These bandits and looters could care less if America crashes and burns. In fact, they want America to die because they want to institute a private world government upon its ruins.
Remember our scenario #2 of the “TippingPoint“?…makes one go hmmmm ~jude
Posted by: Leo Kolivakis
Post date: 11/29/2010 – 21:21
Canadian university pension plans have fallen into a collective $2.6-billion hole, and may have no choice but to cut services to begin climbing back out of it. And US university pension pans aren’t faring better…
(Reuters) – Nearly 59 million Americans went without health insurance coverage for at least part of 2010, many of them with conditions or diseases that needed treatment, federal health officials said on Tuesday.
They said 4 million more Americans went without insurance in the first part of 2010 than during the same time in 2008.
The findings have implications for U.S. healthcare reform efforts. A bill passed in March promises to get health insurance coverage to 32 million Americans who currently lack coverage.
President Obama guaranteedAmericans that after health reform became law they could keep their insurance plans and their doctors. It’s clear that this promise cannot be kept. Insurers and physicians are already reshaping their businesses as a result of Mr. Obama’s plan.
The health-reform law caps how much insurers can spend on expenses and take for profits. Starting next year, health plans will have a regulated “floor” on their medical-loss ratios, which is the amount of revenue they spend on medical claims. Insurers can only spend 20% of their premiums on running their plans if they offer policies directly to consumers or to small employers. The spending cap is 15% for policies sold to large employers.
Reading carefully through she notices that basically the two largest banks and Freddie and Fannie are now actually backing a company named ESSENT which is a mortgage quarentorto back loans that lenders plan to place with the government-owned mortgage companies.~got that?
~jude
By Jamie McGee
Feb. 18 (Bloomberg) — Essent Group Ltd., the mortgage guarantor backed by JPMorgan Chase & Co. and Goldman Sachs Group Inc., will capitalize on a housing-market rebound and tighter standards instituted by money-losing rivals, said Mark Casale, the insurer’s chief executive officer.
Essent, which said today that government-owned mortgage companies agreed to take the loans it insures, joins the industry after competitors have recorded two years of losses on loans they backed before standards improved. Essent plans to begin selling policies in the second quarter, Casale said today in an interview.
What in the world are the Senate Democrats thinking? Isn’t this supposed to be about “health care reform”? Apparently their idea of reform is to take a system that has trillions of dollars in unfunded liabilities and expand it without ever addressing the underlying reason for the huge future debt?
Brilliant. Just brilliant.
But apparently winning the process (passing something called “health care reform”) has become more important than the original purpose of “reform”.
Now, it appears, negotiators are making headway to ensure that the [Medicare] expansion would take place at a far quicker pace than any proposed public option. According to the well-placed source, Democrats are rallying behind a proposal that would allow a portion of the 55-64 year old age group to buy in to the Medicare system as early as 2010. By contrast, a public plan forinsurance coverage would not come into being until 2014.
That group which would get immediate access, of course, would the the high-risk group that will cost the most to treat.
In addition to debating a potential start date for a Medicare buy-in proposal, Senate Democrats are also in negotiations over who, exactly, should be allowed to qualify for the expanded Medicare program. At this juncture, it doesn’t appear that everyone in the 55-64-age bracket would be granted access. Negotiators are considering limiting consumers to those who would qualify for high-risk insurance pools already set up under the Senate’s health care legislation. This would mean primarily those who have been uninsured for a certain amount of time, have a history of poor health or are unable to get insurance because of a preexisting condition. The Senate has already earmarked $5 billion for subsidies for this group to buy insurance and may increase that total to help them pay for Medicare coverage — should it become available to those under 65 and above 55 years of age.
Note that the subsidy is only to help this group buy insurance coverage under Medicare. It says nothing about the cost of that pool to Medicare. And, don’t forget, they’re cutting Medicare payments by $500 billion over then next 10 years.
Then, in 2014, they’re going to bring in the rest of that age group in total. And they’re going to tell you this will save money and “reform” health care?
* Medicare’s expected future obligations exceeded premiums and dedicated taxes by $89 trillion.
* In other words, Medicare’s liability is about 5 1/2 times the size of Social Security’s ($18 trillion) and about six times the size of the entire U.S. economy.
* Throw in Medicaid, and health care spending alone will crowd out every other thing the federal government is doing by mid-century, says Goodman.
Quite a bold statement if true. But a report released Friday by the non-partisan and independent Centers for Medicare and Medicaid Services, the agency in charge of running Medicare and Medicaid, blows the lid off of every one of Obama’s claims. All of the following quotes are from the report itself:
Reacting in part to Friday’s CMS report, Robert J. Samuelson writes in today’s Washington Post:
The disconnect between what President Obama says and what he’s doing is so glaring that most people could not abide it. The president, his advisers and allies have no trouble. But reconciling blatantly contradictory objectives requires them to engage in willful self-deception, public dishonesty, or both.
By Representative John Boehner (R-OH), Washington, Oct 29 Members ofCongressand the American people are just beginning to look at Speaker Nancy Pelosi’s (D-CA) 1,990-page government takeover of health care, but it’s already becoming clear just how costly and unsustainable this proposal is. From higher taxes on middle-class families to job-killing mandates on small businessesto cuts in Medicare benefits for seniors, here are 10 facts every American should know about Speaker Pelosi’s 1,990-page government takeover of health care:….
December 9th, 2009 | 
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