I think these big banks are blackmailing us.

[cottonseed]

I remember reports many months ago during the beginnings of this crisis. Reports of banks threatening to "blow up" pension funds first, then state funds, then whatever else is down the pike. These big banks are dirt and this is the nightmare we've been fearing these last couple decades. They became too big to fail, too big to save, yet they're willing to blow the whole damn world up if their criminal enterprise is not preserved. This is serious business and I'm not looking forward to seeing how it shakes out.

[Occam Bandage]

1. Starring Clive Owen, in theaters everywhere Friday. nt

[KT2000]

3. Clive Owen?

I'll be there!!

[uponit7771]

2. THEY ARE!!! They are the villians!! They've got over 780 BILLION in reserves now up from 2 billion..

...in August 08.

800 Billion sound familiar?!

Yeap, just the amount of capital the feds have to inject into our GDP because the fuckin banks are lending making TWICE the margins they did in 07-06!!! They got the money from the reserves at .5 and now they wanna lend at 5.5 when it comes to home loans when they can cut the rate down to 3.5 on AAA paper and get the housing market back up.

THEN they're raising interest rates on non secured debt!!! Credit cards are going up to 29 freakin percent on AAA ratings also!!

Barney Frank is the ONLY person I've heard address this issue even the slightest!!!


Someone has get to get the banks money out of the treasury and into peoples hands!!!

[kenny blankenship]

4. There certainly seems to be some "external" force staying the govt. hand

Everyone but the govt admits that the US banking system is insolvent.

[Numba6]

5. Not that it will do any good, but international finance is more than just good guys vs. bad guys

http://politicalwire.com/archives/2009/02/10/how_close_we_came_to_total_meltdown.html

On C-Span, Rep. Paul Kanjorski (D-PA) explained how the Federal Reserve told members of Congress about an electronic run on the banks "to the tune of $550 billion dollars" within "an hour or two" last fall.

According to Kanjorski, on September 18, 2008 the Fed tried to "stem the tide" by pumping money into the financial system but it didn't work and decided instead to announce an immediate increase in deposit insurance to $250,000 per account to stop the panic.

Said Kanjorski: "If they had not done that, their estimation is that by 2 p.m. that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed. It would have been the end of our economic system and our political system as we know it."

http://zerohedge.blogspot.com/2009/02/how-world-almost-came-to-end-at-2pm-on.html