Protest the men recieving the money, not the men giving it.

[OccupyZFed]

http://investmentwatchblog.com/holy-bailout-federal-reserve-now-backstopping-75-trillion-of-bank-of-americas-derivatives-trades/

This means that the investment bank’s European derivatives exposure is now backstopped by U.S. taxpayers. Bank of America didn’t get regulatory approval to do this, they just did it at the request of frightened counterparties.  Now the Fed and the FDIC are fighting as to whether this was sound.  The Fed wants to “give relief” to the bank holding company, which is under heavy pressure.

This is a direct transfer of risk to the taxpayer done by the bank without approval by regulators and without public input.  You will also read below that JP Morgan is apparently doing the same thing with $79 trillion of notional derivatives guaranteed by the FDIC and Federal Reserve.

What this means for you is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in CDS insurance contracts sold by Bank of America and JP Morgan.  Even worse, The Total Exposure Is Unknownbecause Wall Street successfully lobbied during Dodd-Frank passage so that no central exchange would exist keeping track of net derivative exposure.

[FruitJelly]

Thanks for sharing!  =]  I'm going to start reading the article now.  ^O^'

[Connie429]

I will read the article too.

[OccupyZFed]

Please do b/c after all the risk is on you, the American tax payer, once again.

[OccupyZFed]

TTT!

[AvgJane2]

Protest BOTH!

[OccupyZFed]

We both know thats kind of pointless right? lol

You're spraying and praying. Aim and shoot. Controlled bursts. Otherwise, it's pointless.

[Citizen Zed]

OccupyZFed: "spraying and praying. Aim and shoot. "

Speaking of which, targeting and all that: Still looking for more info on your references to "scary jew plots", the "Venus Project" and insightful analysis of Hegelian dialectic in the "End the Fed" comedy thread.  Did you get shy all of a sudden?

[OccupyZFed]

Venus Project is a global resource based system. No money, everyone works together holding hands utopia
Scary Jew Plot, 1984.

Hegelian Dialectic is a system based on three things.

Problem
Reaction
Solution

Simple stuff. I missed it before.

So how does it feel man? 79$ Trillion in toxic derivatives. Feels good eh? lol Sucker.

 

[killerfurball]

Wait Occupy are you for or against the Venus Project?

[OccupyZFed]

I dont see why anyone would be against it.

Its improbable and unrealistic but hey, one can dream eh?

Also, there is no reason why we can't have everything described in the Venus Project today, except those in control would die before giving up said control.