>this AA decision is BS, more Orwellian deception
>prosecute while rigging court decisions......
Hey dude, don't you get it? AA is GONE!! So who cares what the court rules now? (I care, because it is a scam and it was a scam from the start to NOT SEIZE IMMEDIATELY all papers, assets, and related material as in EVERY INVESTIGATION EVER UNDERTAKEN BY INVESTIGATORS OF THE US GOVT)
Remember Howard Hughes and TWA? The bankers got TWA from him in a scam, sold the good parts, and seven years later the Supreme Court ruled in Howard Hughes' behalf. But TWA was GONE!! So he got some bucks but the money making machine was
g o n e to those that own the nation's system. AA is gone too. So is Enron? No.
What about the 800+ Cayman accounts that nobody ever asked about? Is that (partly) the stash the USGov is using to buy Treasuries now that other sovereigns are buying less? Maybe Ollie North's accounts are kicking in a bit to help out too.
Note the newspapers claim it is the hedge funds working out of Cayman that are "POSSIBLY" purchasing the Treasuries....yeah, right. Those narcodollars come in handy in a pinch.
This is the part about the S&L scam which I claimed few would remember. What happened? Well, good banks took over, AT THE REQUEST OF the FDIC the soft, undercapitalized banks which were declared INSOLVENT. Fine.
But then when all that was said and done and the insolvent banks were being run by the worthy banks, the FDIC comes in and says "HEY GUYS, we are changing the rules. Instead of 10% capitalization you need 15% capitalization and you don't have it. You are officially insolvent. Period."
Of course prior to their absorbing the involvent banks these were strongly capitalized banks. After absorbing these failing banks their own liquid resources were diminished, but not below allowable limits prior to the rule changes.
Of course the good banks fought like hell to keep their banks, how could the FED people request they take on these weak banks and then up the margin requirements like that, change the rules in the middle of the game, thay can't do that....but they did do that, and in comes Citi, Washington Mutual, JPM, Chase, all the Big Kidds and they Buy Up The Banking Industry.
That is why there are so few banks today and you get such crappy banking services. Do you know, in Miami I am not allowed to deposit into my account a check written to somebody else endorsed to me? i.e. a "third party check". It will be sent back to me in the mail. I cannot deposit a third party check, period (personal account, not business account, dk about business accounts).
So now we have all these great charges ($3.50 to get $10K cash if I want actual greenbacks.....they CHARGE ME to give me money!!!!) OK, enough of the local thievery stories, let's get back to the S&L scam.
The good banks get their banks seized by the FDIC and they are put on the block to sell to JPM, Chase, Citi, WaMu (they were called something else then), Bank of America and so forth, and the banking industry suddenly contracts to a handfull of Big Banks.
So after 3 years of litigation this thing gets to the Supreme Court, and yep, sure enough guys, the FDIC is ruled against and they are NOT ALLOWED to change the rules in the middle of the game.
Sorry that your banks were sold to these other players, and they have of course by now chopped up your banks into unrecognizable pieces and sold and bartered with other banks for each piece the other guy wanted. So tell you what, we will give you money for your banks. We will fine that nasty FDIC for what they did and pay you for your banks (we know you want your banks back, but....we will fine the Govt and let the private Big Banks keep your banks....)
Whose money? YOUR MONEY if you are a tax payer. YOU paid for BoA and Chase to get these "defaulted" banks on the cheap. Not only did they get them cheap, they were subsidized with your money, the industry "consolidated" and you now get lousy, expensive services with long lines and no tellers, and a handful of banks to choose from.
But Americans don't read. And this was 3 years after the S&L scandal was "over" anyway, so who would bother to read about it? Much better to read the sports pages. Or watch TV.
The price of Freedom is Eternal Vigilance. Too few paid the price, and the purchased product is going to be ugly.
I expect the housing prices will fall, but what I expect more is that inflation will rise to the price of the housing, making the housing prices look "natural". This will occur location-specific of course, as with all real estate. Heck, San Jose had its housing bubble pop back in 2000, right?
So yes, the Supreme Court did rule in AA's favor, but it was a point that was shoddy to begin with. I believe that too may have been foreseen and used to "consolidate" the accounting industry. After all, AA was used by the FBI, many govt agencies, and so forth. Getting them out of the way.....gave other players a chance.
Letting AA have time, like permitting Enron to have time, to get the shredders going at all was like the biggest statement that could be made, yet NOT ONE newspaper mentioned it at the time. They dare not, I reckon, or they too would be down the Memory Hole. Anybody that has EVER seen what happens in one of these investigations can verify what I point out here: seize the paperwork, seize or take control of the assets and outstanding operations, WHILE serving the papers, and THEN go to court. That is the way it works unless there is corruption involved in the executive agency of the govt...
Letting anybody have notice and time to act to destroy evidence is prima face inside job.
Orwell? Forget it. Al Capone. Keep the soap box.
Regards,
Martin |
