Sunday, October 23, 2011

23 October 2011

Where Do We Go From Here? Occupy Wall St. from Ed David on Vimeo.

This video above from OWS is from earlier today, here.

Below: Keiser Report 200, October 22nd

The subject of discussion above, at 5:00-6:00 regarding BofA, is also referred to here:

Federal Reserve and Bank of America Initiate a Coup to Dump Billions of Dollars of Losses on the American Taxpayer |

Bloomberg reports that Bank of America is dumping derivatives onto a subsidiary which is insured by the government – i.e. taxpayers. Yves Smith notes: If you have any doubt that Bank of America is going down, this development should settle it...

Below: Keiser Report 196,"Dog & Pony Show"(Oct 13th)

see also Speculum Criticum Traditionis, "The liberal bias of American media" [via Jack Crow]

Two from CNN:
Six-figure salaries, but homeless,
Foreigners are buying U.S. homes

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At October 24, 2011 7:08 AM, Anonymous Anonymous said...

There's a strange current to these stories, talking about BoA "going down" and needing help.

BoA knew what it was doing.

Derivatives, etc., were known to be volatile and risky. The only reason to invest in them or use them or sell them was to make profit regardless... and to expect Uncle Sam to bail the entity out.

This isn't a surprise. This isn't "too big to fail" or anything like that.

It's theft. Multi-staged, long-term theft (over 5-10 years).

It was intentional.

And nobody should report it as anything else.

At October 24, 2011 11:51 AM, Blogger Jonathan Versen said...

A long-term theft? Sure, unless you modify Nixon's dictum about what constitutes something being illegal to cover this. Ha!

I saw 2 articles recently, at and the Christian Science Monitor, discussing polling saying that a majority of respondents blamed the Federal gov't more that the banks for the recession. They may have been referencing the same poll, I'm not sure.

But I couldn't help thinking that asking which was more to blame was a false choice, designed to encourage both the participants and the people hearing about the poll later to see it as an either/or choice; but this requires agreement that the gov't and the big banks are in fact two distinct entities.

At October 24, 2011 12:05 PM, Anonymous Anonymous said...

The old cliche of "paradigm shift" springs to mind here... as in, most people haven't had it happen to them so they see the banks and Fed Govt (including those saintly Congresspeople) as distinct entities.

See, they have separate emails and mailing addresses and offices... and everything!


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