Forum Post: Bank Of America Dumps $75 Trillion In Derivatives On Taxpayers, Super Committee Looks Away. Seize BoA Now.
Posted 13 years ago on Nov. 9, 2011, 9:18 p.m. EST by MonetizingDiscontent
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BoA Dumps $75 Trillion In Derivatives On Taxpayers, Super Committee Looks Away. Seize BoA Now.
http://www.opednews.com/articles/BoA-Dumps-75-Trillion-In-by-Ralph-Lopez-111108-355.html
(OpEdNews) It's real money, especially since "Bank of America Deathwatch"... http://www.nakedcapitalism.com/2011/08/bank-of-america-death-watch.html ...financial pundits have multiplied on the web and it has become a bit of a geek guessing game. When will BoA finally tank? And when it tanks, the question becomes, who will walk away with all their money, and who will be left holding the bag? The deal just snuck through with the Federal Reserve's, and implicitly, Congress's approval insures Wall Street casino gambler's debts by moving them into accounts meant for penny-pinching grandmas.
Citing Bloomberg, financial commentator Avery Goodman tells us: http://seekingalpha.com/article/301260-bank-of-america-dumps-75-trillion-in-derivatives-on-u-s-taxpayers-with-federal-approval
"Even if we net out the notional value of the derivatives involved, down to the net potential obligation, the amount is so large that the United States could not hope to pay it off without a major dollar devaluation, if a major contingency actually occurred and a large part of the derivatives were triggered."
We will continue to see more of this because the wealthy owners of the Fed.will not allow a loss to occur, I say we need to arrest all the Federal reserve chairman's and high officials and also all the government officials need to be investigated , any of them that agrees to any plan the Fed. has had from the beginning up until now, and shut down this illegal operation. We as a free sovereign nation can print our own money with no interest , the Fed has robbed this country blind since it began and the politicians let it happen because they are blinded by greed and that is what the Feds. count on birds of a feather . We dont need of want them !!!!
Great point, our money is printed at interest, so there is always more debt than money. It really is a ponzi scheme. The power of the purse should be returned to congress where they could print it without the interest. Cut out the middle man, and reign in the federal reserve.
Try giving this man a look, he could help get it done. (as far as bringing charges goes)
Bill Black @ #occupywallstreet Discussing Arresting Banksters
http://www.youtube.com/watch?v=4XJe7O-3QBc&feature=player_embedded
(white-collar criminologist, former financial regulator)
BofA is a nasty and rude Corporate Citizen. Shut them down. Close your Merrill Lynch accounts!
Yes shut these crooks down, I agree, the people just don't owe it. The bankers do. This debt isn't ours. This is their bad bets, their fraud, their accounting tricks and general malfeasance and its out of control. OCCUPY The ATTORNEY GENERALS OFFICE ....Quick! Someone call Bill Black and tell him to be there too!
Bill Black @ #occupywallstreet on Arresting Banksters
http://www.youtube.com/watch?v=4XJe7O-3QBc&feature=player_embedded
William Black: Not With A Bang, But A Whimper: Bank Of America’s Derivatives Death Rattle
http://dailybail.com/home/william-black-not-with-a-bang-but-a-whimper-bank-of-americas.html
Former Financial Regulator William Black: Occupy Wall Street A Counter to White-Collar Fraud
http://www.youtube.com/watch?v=zq-sO_uNaFw
(DemocracyNow!) Amy Goodman interviews William Black, a white-collar criminologist, former financial regulator, and author of "The Best Way to Rob a Bank is to Own One." Black teaches economics and law at the University of Missouri-Kansas City and recently took part in Occupy Kansas City.
TL;DR - looks like THE FED is up to the same scam as always. Seize the Fed! They'll probably try to blame OWS when the bank fails.
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