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seeker401- Administrator
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U.S. readies papers v. Swiss banks on tax evasion
nikki6278 on Mon Sep 12, 2011 3:37 am
U.S. readies papers v. Swiss banks on tax evasion
The United States is drafting legal documents that seek to force nearly a dozen Swiss banks and international banks with Swiss branches to disclose the identities of American clients evading billions of dollars in taxes, sources briefed on the matter said.
The drafting of the documents -- grand jury subpoenas and broad requests known as John Doe summonses -- is a fresh U.S. shot across the bow at Switzerland and its battered tradition of bank secrecy.
The Alpine country, a noted tax haven that is the global capital of offshore private banking, has been under attack from U.S. Justice Department and Internal Revenue Service officials conducting a broad criminal investigation into private banking services that U.S. authorities say enabled wealthy Americans to evade billions of dollars in taxes.
The documents could be served within a month or so on 10 banks, including some with headquarters outside Switzerland, these persons said
snip
LAST CHANCE
But the Justice Department, in a move that gives Swiss banks another, last-minute chance to reach an agreement with U.S. authorities, also said it would hold off on enforcing them if the banks comply with the requests to turn over client data.
The Justice Department is trying to determine the total volume of unreported accounts held at Swiss banks. Officials suspect the accounts hold assets in the tens of billions of dollars and possibly more.
The existence of the confidential letter was first reported by two Swiss newspapers on September 4.
"It's a fairly major event that the deputy attorney general would fire this off," said Scott Michel, a tax lawyer at Caplin & Drysdale in Washington. U.S. officials, who have confirmed the existence of the letter, are angry that it became public.
snip
"That U.S. taxpayer account records of 10 more banks are in imminent danger of being sent to the Justice Department is especially bad news for the thousands of U.S. taxpayers who decided not to come forward after UBS," he added. "The consequences are likely to be really painful."
http://uk.reuters.com/article/2011/09/09/uk-usa-swissbank-subpoenas-idUKTRE7887BH20110909
seems this story resurfaces every few months. List in a month or so? And who exactly will be on that list, not the wealthiest of the wealthy...they are protected in vatican slush fund investments. Is this a market mover? Pretend to fail comes to mind.
The United States is drafting legal documents that seek to force nearly a dozen Swiss banks and international banks with Swiss branches to disclose the identities of American clients evading billions of dollars in taxes, sources briefed on the matter said.
The drafting of the documents -- grand jury subpoenas and broad requests known as John Doe summonses -- is a fresh U.S. shot across the bow at Switzerland and its battered tradition of bank secrecy.
The Alpine country, a noted tax haven that is the global capital of offshore private banking, has been under attack from U.S. Justice Department and Internal Revenue Service officials conducting a broad criminal investigation into private banking services that U.S. authorities say enabled wealthy Americans to evade billions of dollars in taxes.
The documents could be served within a month or so on 10 banks, including some with headquarters outside Switzerland, these persons said
snip
LAST CHANCE
But the Justice Department, in a move that gives Swiss banks another, last-minute chance to reach an agreement with U.S. authorities, also said it would hold off on enforcing them if the banks comply with the requests to turn over client data.
The Justice Department is trying to determine the total volume of unreported accounts held at Swiss banks. Officials suspect the accounts hold assets in the tens of billions of dollars and possibly more.
The existence of the confidential letter was first reported by two Swiss newspapers on September 4.
"It's a fairly major event that the deputy attorney general would fire this off," said Scott Michel, a tax lawyer at Caplin & Drysdale in Washington. U.S. officials, who have confirmed the existence of the letter, are angry that it became public.
snip
"That U.S. taxpayer account records of 10 more banks are in imminent danger of being sent to the Justice Department is especially bad news for the thousands of U.S. taxpayers who decided not to come forward after UBS," he added. "The consequences are likely to be really painful."
http://uk.reuters.com/article/2011/09/09/uk-usa-swissbank-subpoenas-idUKTRE7887BH20110909
seems this story resurfaces every few months. List in a month or so? And who exactly will be on that list, not the wealthiest of the wealthy...they are protected in vatican slush fund investments. Is this a market mover? Pretend to fail comes to mind.
nikki6278- Moderator
- Posts: 1934
Join date: 2010-01-11
Volcker Rule Delay Is Likely
nikki6278 on Mon Sep 12, 2011 7:23 pm
Volcker Rule Delay Is Likely
U.S. financial regulators are likely to miss an October deadline for the Volcker rule, a hotly contested part of last year's financial-overhaul law that limits financial firms from trading with their own money.
According to the Dodd-Frank law, regulators have until Oct. 18 to "adopt rules to carry out" the provision. But regulators haven't agreed yet on even a draft proposal of the rule, which is named for former Federal Reserve Chairman Paul Volcker, who first proposed the trading curbs.
A proposed rule might be released as soon as this week, according to people familiar with the situation. After that initial step, the draft version of the Volcker rule will go out for public comment, most likely for 60 days.
Regulators can make changes based on comments before issuing a final rule. That means the rule likely won't take effect for months.
snip
Wall Street firms are hoping for a flexible standard that allows regulators to judge firms' risk-taking on a case-by-case basis. Under this approach, firms could make arguments about why a particular trading position is a legitimate hedge designed to reduce the risk of suffering losses.
Still, other firms are gearing up for a proposal that gives more prescriptive guidelines about the type of trades that would run afoul of the Volcker rule. Some industry executives expect the draft rule to err on the stricter side, but they believe regulators will use industry comments to justify softening the rule before making it final.
http://online.wsj.com/article/SB10001424053111904265504576564623589787108.html?mod=googlenews_wsj
more BS, nothing will change.
U.S. financial regulators are likely to miss an October deadline for the Volcker rule, a hotly contested part of last year's financial-overhaul law that limits financial firms from trading with their own money.
According to the Dodd-Frank law, regulators have until Oct. 18 to "adopt rules to carry out" the provision. But regulators haven't agreed yet on even a draft proposal of the rule, which is named for former Federal Reserve Chairman Paul Volcker, who first proposed the trading curbs.
A proposed rule might be released as soon as this week, according to people familiar with the situation. After that initial step, the draft version of the Volcker rule will go out for public comment, most likely for 60 days.
Regulators can make changes based on comments before issuing a final rule. That means the rule likely won't take effect for months.
snip
Wall Street firms are hoping for a flexible standard that allows regulators to judge firms' risk-taking on a case-by-case basis. Under this approach, firms could make arguments about why a particular trading position is a legitimate hedge designed to reduce the risk of suffering losses.
Still, other firms are gearing up for a proposal that gives more prescriptive guidelines about the type of trades that would run afoul of the Volcker rule. Some industry executives expect the draft rule to err on the stricter side, but they believe regulators will use industry comments to justify softening the rule before making it final.
http://online.wsj.com/article/SB10001424053111904265504576564623589787108.html?mod=googlenews_wsj
more BS, nothing will change.
nikki6278- Moderator
- Posts: 1934
Join date: 2010-01-11
SEC's Investigation into CDOs Deepens: Report
nikki6278 on Fri Sep 16, 2011 1:01 am
SEC's Investigation into CDOs Deepens: Report
The U.S. securities regulator is widening its probe into mortgage-bond deals that ushered in the financial crisis, and is pushing for a settlement of more than $200 million with Citigroup, the Wall Street Journal said, citing people familiar with the matter.
The Securities and Exchange Commission officials are in advanced talks with Citigroup to settle civil charges related to a $1 billion mortgage-bond deal called Class V Funding III, the Journal said.
The SEC is especially looking into whether investors in some deals were properly warned that firms betting against the housing market had a role in choosing what mortgage-linked assets went into the deals, the people told the paper.
The agency is also negotiating a parallel settlement with Credit Suisse, which acted as collateral manager on the deal, the Journal said.
However, the Swiss bank likely would not face any charges related to the collateralized debt obligations (CDOs) it created and marketed, a person told the Journal.
snip
In a similar case involving a CDO, Squared CDO 2007-1, JPMorgan paid $153.6 million to settle with the SEC in June.
Goldman Sachs Group Inc last year paid $550 million to settle a similar SEC case over another CDO, Abacus.
Read more: http://www.foxbusiness.com/industries/2011/09/15/secs-investigation-into-cdos-deepens-report/#ixzz1Y2d3tIUV
those penalties are NOTHING!, like taking away one weeks allowance from a teen.
The U.S. securities regulator is widening its probe into mortgage-bond deals that ushered in the financial crisis, and is pushing for a settlement of more than $200 million with Citigroup, the Wall Street Journal said, citing people familiar with the matter.
The Securities and Exchange Commission officials are in advanced talks with Citigroup to settle civil charges related to a $1 billion mortgage-bond deal called Class V Funding III, the Journal said.
The SEC is especially looking into whether investors in some deals were properly warned that firms betting against the housing market had a role in choosing what mortgage-linked assets went into the deals, the people told the paper.
The agency is also negotiating a parallel settlement with Credit Suisse, which acted as collateral manager on the deal, the Journal said.
However, the Swiss bank likely would not face any charges related to the collateralized debt obligations (CDOs) it created and marketed, a person told the Journal.
snip
In a similar case involving a CDO, Squared CDO 2007-1, JPMorgan paid $153.6 million to settle with the SEC in June.
Goldman Sachs Group Inc last year paid $550 million to settle a similar SEC case over another CDO, Abacus.
Read more: http://www.foxbusiness.com/industries/2011/09/15/secs-investigation-into-cdos-deepens-report/#ixzz1Y2d3tIUV
those penalties are NOTHING!, like taking away one weeks allowance from a teen.
nikki6278- Moderator
- Posts: 1934
Join date: 2010-01-11
Federal Reserve boosts flow of dollars to European Central Bank
nikki6278 on Fri Sep 16, 2011 7:35 pm
Federal Reserve boosts flow of dollars to European Central Bank
Worried that a mounting debt crisis in Europe could trip up the global economy, the Federal Reserve opened its vault Thursday to the central banks of other countries in an effort to head off a crippling shortage of dollars.
The main recipient of the Fed’s money is the European Central Bank, which will in turn extend dollar loans to banks in the nations that use the euro currency. Those banks do significant business in dollars, for instance making loans to customers operating around the world, and have been finding it harder to raise dollars from anxious investors.
The initiative, which entails temporarily swapping dollars for foreign currencies, also involves the central banks of Britain, Switzerland and Japan, underlining the extent of international concern about Europe’s deteriorating financial system. By tapping the Fed for dollars, the other central banks are taking advantage of long-standing arrangements, first put in place four years ago at the outset of the global financial crisis to prevent bank lending from freezing up.
Global stock markets surged on the news of this coordinated response by some of the world’s leading central banks. The Standard & Poor’s 500-stock index in the United States rose 1.7 percent Thursday, and the German stock market closed up 3.2 percent. Asian markets rose in early Friday trading, with Japan’s Nikkei 225 index up 1.7 percent at midday. The value of the euro currency rose on greater optimism that the European debt crisis can be resolved.
http://www.washingtonpost.com/business/economy/federal-reserve-boosts-flow-of-dollars-to-european-central-bank/2011/09/15/gIQA2YcpVK_story.html
just keep printing the toilet paper...
Worried that a mounting debt crisis in Europe could trip up the global economy, the Federal Reserve opened its vault Thursday to the central banks of other countries in an effort to head off a crippling shortage of dollars.
The main recipient of the Fed’s money is the European Central Bank, which will in turn extend dollar loans to banks in the nations that use the euro currency. Those banks do significant business in dollars, for instance making loans to customers operating around the world, and have been finding it harder to raise dollars from anxious investors.
The initiative, which entails temporarily swapping dollars for foreign currencies, also involves the central banks of Britain, Switzerland and Japan, underlining the extent of international concern about Europe’s deteriorating financial system. By tapping the Fed for dollars, the other central banks are taking advantage of long-standing arrangements, first put in place four years ago at the outset of the global financial crisis to prevent bank lending from freezing up.
Global stock markets surged on the news of this coordinated response by some of the world’s leading central banks. The Standard & Poor’s 500-stock index in the United States rose 1.7 percent Thursday, and the German stock market closed up 3.2 percent. Asian markets rose in early Friday trading, with Japan’s Nikkei 225 index up 1.7 percent at midday. The value of the euro currency rose on greater optimism that the European debt crisis can be resolved.
http://www.washingtonpost.com/business/economy/federal-reserve-boosts-flow-of-dollars-to-european-central-bank/2011/09/15/gIQA2YcpVK_story.html
just keep printing the toilet paper...
nikki6278- Moderator
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Join date: 2010-01-11
seeker401- Administrator
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Join date: 2010-01-10
Location: Australia -
Federal Reserve Likely to Increase Stimulus, Pimco’s Mather Says
nikki6278 on Mon Oct 24, 2011 8:45 pm
Federal Reserve Likely to Increase Stimulus, Pimco’s Mather Says
The Federal Reserve is likely to increase monetary stimulus, including an expansion of its balance sheet, according to Pacific Investment Management Co., which oversees the world’s largest bond fund.
Growth in the U.S. will be constrained next year amid an “unprecedented amount” of fiscal contraction, Scott Mather, Pimco’s head of global portfolio management, said at a briefing today in Sydney. The Fed will start by changing its language before taking steps to bolster the economy including efforts to stabilize the housing market, he said.
“You’ll see the language change first and then probably some of these other things,” Mather said. “They’re not done. They’ve told us that there’s more that they’re thinking about, that they can and will do.”
Fed Vice Chairman Janet Yellen said Oct. 21 that a third round of large-scale securities purchases might become warranted to boost an economy challenged by an unemployment rate of 9.1 percent and financial turmoil.
Policy makers are struggling over how to improve public understanding of their actions, Philadelphia Fed President Charles Plosser told reporters on Oct. 12. The Fed could make it clearer how its policies hinge on inflation, inflation expectations and resource utilization, he said after a speech in Philadelphia.
http://www.businessweek.com/news/2011-10-23/federal-reserve-likely-to-increase-stimulus-pimco-s-mather-says.html
msm will concentrate on the negative this week...then QE3. Personally I do not think Legatus is gonna be a factor. We had Napa...after 24 years, tom monaghan stepped down and its time for a new organization. I also am a big follower of the USCCB conference which is in November. It has a decent track record for downturns. Time will tell...that hindsight thing never fails
The Federal Reserve is likely to increase monetary stimulus, including an expansion of its balance sheet, according to Pacific Investment Management Co., which oversees the world’s largest bond fund.
Growth in the U.S. will be constrained next year amid an “unprecedented amount” of fiscal contraction, Scott Mather, Pimco’s head of global portfolio management, said at a briefing today in Sydney. The Fed will start by changing its language before taking steps to bolster the economy including efforts to stabilize the housing market, he said.
“You’ll see the language change first and then probably some of these other things,” Mather said. “They’re not done. They’ve told us that there’s more that they’re thinking about, that they can and will do.”
Fed Vice Chairman Janet Yellen said Oct. 21 that a third round of large-scale securities purchases might become warranted to boost an economy challenged by an unemployment rate of 9.1 percent and financial turmoil.
Policy makers are struggling over how to improve public understanding of their actions, Philadelphia Fed President Charles Plosser told reporters on Oct. 12. The Fed could make it clearer how its policies hinge on inflation, inflation expectations and resource utilization, he said after a speech in Philadelphia.
http://www.businessweek.com/news/2011-10-23/federal-reserve-likely-to-increase-stimulus-pimco-s-mather-says.html
msm will concentrate on the negative this week...then QE3. Personally I do not think Legatus is gonna be a factor. We had Napa...after 24 years, tom monaghan stepped down and its time for a new organization. I also am a big follower of the USCCB conference which is in November. It has a decent track record for downturns. Time will tell...that hindsight thing never fails
nikki6278- Moderator
- Posts: 1934
Join date: 2010-01-11
Fed to pause, sow seeds for more easing
nikki6278 on Wed Nov 02, 2011 4:15 am
Fed to pause, sow seeds for more easing
The Federal Reserve could begin to prepare financial markets for further monetary easing at the conclusion of a two-day meeting that began on Tuesday, even if it refrains from any new stimulus just yet.
The U.S. central bank, while likely to hold monetary policy steady for now, could offer hints that it is moving toward some type of new overarching framework for monetary policymaking, in which it might deliver more explicit targets for unemployment, inflation or even economic growth itself.
Some analysts say a nod could come with slight tweaks to the language of the central bank's usual post-meeting statement, or be addressed more directly by Fed Chairman Ben Bernanke at a news conference on Wednesday
http://www.reuters.com/article/2011/11/01/us-usa-fed-idUSTRE7A057A20111101
IMAGINE THAT! Just as the market has taken a 500 pt plunge in two days. That kind of news would have sounded insane had the bulls kept forging ahead. Drama! Greece is more drama. None of this is NEWS, it is market manipulation (that includes MF global). Just sayin lol
The Federal Reserve could begin to prepare financial markets for further monetary easing at the conclusion of a two-day meeting that began on Tuesday, even if it refrains from any new stimulus just yet.
The U.S. central bank, while likely to hold monetary policy steady for now, could offer hints that it is moving toward some type of new overarching framework for monetary policymaking, in which it might deliver more explicit targets for unemployment, inflation or even economic growth itself.
Some analysts say a nod could come with slight tweaks to the language of the central bank's usual post-meeting statement, or be addressed more directly by Fed Chairman Ben Bernanke at a news conference on Wednesday
http://www.reuters.com/article/2011/11/01/us-usa-fed-idUSTRE7A057A20111101
IMAGINE THAT! Just as the market has taken a 500 pt plunge in two days. That kind of news would have sounded insane had the bulls kept forging ahead. Drama! Greece is more drama. None of this is NEWS, it is market manipulation (that includes MF global). Just sayin lol
nikki6278- Moderator
- Posts: 1934
Join date: 2010-01-11
Fannie Mae taps $7.8 billion from Treasury, loss widens
nikki6278 on Wed Nov 16, 2011 9:29 pm
Fannie Mae taps $7.8 billion from Treasury, loss widens
Fannie Mae (FNMA.OB), the biggest source of money for U.S. home loans, on Tuesday said it needed a further $7.8 billion in federal aid to stay afloat as a shaky housing market widened its third-quarter loss to $5.1 billion.
The government-controlled firm also attributed the deeper cash drain to losses on derivatives used to hedge its exposure to interest-rate swings and on expenses related to home loans made prior to the 2008 financial collapse. In the year-earlier quarter it had a loss of a $1.3 billion.
Fannie Mae has now drawn $112.6 billion in bailout funds from the Treasury Department since being seized by the government in 2008 as mortgage losses mounted, and it has returned $17.2 billion to taxpayers in the form of dividends.
http://www.reuters.com/article/2011/11/11/us-usa-housing-fanniemae-f-idUSTRE7AA44J20111111
and THIS!
Fannie CFO’s signing bonus: $1.7 million
House Republicans are pointing out that Fannie Mae’s new chief financial officer shares something in common with a newly drafted pro football player — both landed signing bonuses.
Read more: http://www.politico.com/news/stories/1111/68461.html#ixzz1dsIBMMI1
AND Freddie Mac/related
Gingrich Said to Be Paid At Least $1.6 Million By Freddie Mac
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/11/16/bloomberg_articlesLUQH8R0YHQ0Y.DTL#ixzz1dsIQcvrj
Fannie Mae (FNMA.OB), the biggest source of money for U.S. home loans, on Tuesday said it needed a further $7.8 billion in federal aid to stay afloat as a shaky housing market widened its third-quarter loss to $5.1 billion.
The government-controlled firm also attributed the deeper cash drain to losses on derivatives used to hedge its exposure to interest-rate swings and on expenses related to home loans made prior to the 2008 financial collapse. In the year-earlier quarter it had a loss of a $1.3 billion.
Fannie Mae has now drawn $112.6 billion in bailout funds from the Treasury Department since being seized by the government in 2008 as mortgage losses mounted, and it has returned $17.2 billion to taxpayers in the form of dividends.
http://www.reuters.com/article/2011/11/11/us-usa-housing-fanniemae-f-idUSTRE7AA44J20111111
and THIS!
Fannie CFO’s signing bonus: $1.7 million
House Republicans are pointing out that Fannie Mae’s new chief financial officer shares something in common with a newly drafted pro football player — both landed signing bonuses.
Read more: http://www.politico.com/news/stories/1111/68461.html#ixzz1dsIBMMI1
AND Freddie Mac/related
Gingrich Said to Be Paid At Least $1.6 Million By Freddie Mac
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/11/16/bloomberg_articlesLUQH8R0YHQ0Y.DTL#ixzz1dsIQcvrj
nikki6278- Moderator
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Join date: 2010-01-11
seeker401- Administrator
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Location: Australia -
Republican Proposes New Corporation to Replace Fannie, Freddie
nikki6278 on Thu Dec 08, 2011 8:56 pm
Republican Proposes New Corporation to Replace Fannie, Freddie
A Georgia Republican is set to introduce on Thursday a bill that would replace Fannie Mae and Freddie Mac with a government-owned corporation that could one day be sold off to the private sector.
The proposal from Sen. Johnny Isakson, a former Realtor, is the latest in a series of competing measures to address the fate of the mortgage-finance giants whose government takeover has cost taxpayers $151 billion.
Few analysts expect Congress to take up the thorny topic of revamping the nation's $10.5 trillion mortgage market before next fall's presidential election, but lawmakers from both parties have introduced a series of measures in preparation of any ultimate overhaul.
The latest measure seeks to bridge a yawning partisan gap between conservative Republicans that oppose any continued government guarantees for the private sector and Democrats and the real-estate industry, which says that cost of mortgages could rise sharply—particularly during crisis—if the government doesn't backstop part of the market.
To take the place of Fannie and Freddie, the bill would create a new government agency that would provide guarantees on securities comprised of mortgages that meet designated standards. Unlike Fannie and Freddie, the new agency wouldn't buy loans directly, but instead would guarantee mortgage securities pooled by private sector entities.
http://online.wsj.com/article/SB10001424052970203501304577084862933575768.html
the taxpayers have supported fannie to the tune of 151 billion. Is OWS protesting about this? They should be! Now, onto the next corrupt govt backed agency taht will provide mortgages to those that cant and never will afford them.
A Georgia Republican is set to introduce on Thursday a bill that would replace Fannie Mae and Freddie Mac with a government-owned corporation that could one day be sold off to the private sector.
The proposal from Sen. Johnny Isakson, a former Realtor, is the latest in a series of competing measures to address the fate of the mortgage-finance giants whose government takeover has cost taxpayers $151 billion.
Few analysts expect Congress to take up the thorny topic of revamping the nation's $10.5 trillion mortgage market before next fall's presidential election, but lawmakers from both parties have introduced a series of measures in preparation of any ultimate overhaul.
The latest measure seeks to bridge a yawning partisan gap between conservative Republicans that oppose any continued government guarantees for the private sector and Democrats and the real-estate industry, which says that cost of mortgages could rise sharply—particularly during crisis—if the government doesn't backstop part of the market.
To take the place of Fannie and Freddie, the bill would create a new government agency that would provide guarantees on securities comprised of mortgages that meet designated standards. Unlike Fannie and Freddie, the new agency wouldn't buy loans directly, but instead would guarantee mortgage securities pooled by private sector entities.
http://online.wsj.com/article/SB10001424052970203501304577084862933575768.html
the taxpayers have supported fannie to the tune of 151 billion. Is OWS protesting about this? They should be! Now, onto the next corrupt govt backed agency taht will provide mortgages to those that cant and never will afford them.
nikki6278- Moderator
- Posts: 1934
Join date: 2010-01-11
SEC Lets Some Investors Keep Quiet
nikki6278 on Fri Dec 09, 2011 5:23 am
SEC Lets Some Investors Keep Quiet
Fifty money managers have used Securities and Exchange Commission rules to keep confidential their stakes in certain companies so far this year, an analysis of securities filings shows.
The longstanding practice got a new burst of attention last month when billionaire Warren Buffett's Berkshire Hathaway Inc. disclosed a $10.7 billion bet on International Business Machines Corp.
The Omaha, Neb., conglomerate had been secretly accumulating the shares since March, twice receiving an exemption from the SEC on a 36-year-old law that requires investment firms owning more than $100 million in publicly traded stocks to disclose their holdings quarterly.
http://online.wsj.com/article/SB10001424052970204319004577084723328963742.html
SSDD
Fifty money managers have used Securities and Exchange Commission rules to keep confidential their stakes in certain companies so far this year, an analysis of securities filings shows.
The longstanding practice got a new burst of attention last month when billionaire Warren Buffett's Berkshire Hathaway Inc. disclosed a $10.7 billion bet on International Business Machines Corp.
The Omaha, Neb., conglomerate had been secretly accumulating the shares since March, twice receiving an exemption from the SEC on a 36-year-old law that requires investment firms owning more than $100 million in publicly traded stocks to disclose their holdings quarterly.
http://online.wsj.com/article/SB10001424052970204319004577084723328963742.html
SSDD
nikki6278- Moderator
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ten primary shareholders in the Federal Reserve banking system.
ianadds on Thu Apr 26, 2012 2:00 am
ten primary shareholders in the Federal Reserve banking system.
http://www.nesaranews.blogspot.com/2012/04/federal-reserve-banking-system.html
http://www.nesaranews.blogspot.com/2012/04/federal-reserve-banking-system.html
ianadds- Member
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Re: Fed, SEC, FDIC etc
seeker401 on Thu Apr 26, 2012 8:30 am
Now that we know the Federal Reserve is a privately owned, for-profit corporation, a natural question would be: who OWNS this company? Peter Kershaw provides the answer in "Economic Solutions" where he lists the ten primary shareholders in the Federal Reserve banking system.
1) The Rothschild Family - London
2) The Rothschild Family - Berlin
3) The Lazard Brothers - Paris
4) Israel Seiff - Italy
5) Kuhn-Loeb Company - Germany
6) The Warburgs - Amsterdam
7) The Warburgs - HamburgLehman Brothers - New York
9) Goldman & Sachs - New York
10) The Rockefeller Family - New York
Now I don't know about you, but something is terribly wrong with this situation. Namely, don't we live in AMERICA? If so, why are seven of the top ten stockholders located in FOREIGN countries? That's 70%! To further convey how screwed-up this system is, Jim Marrs provides the following data in his phenomenal book, "Rule By Secrecy.
" He says that the Federal Reserve Bank of New York, which undeniably controls the other eleven Federal Reserve branches, is essentially controlled by two financial institutions:
1) Chase-Manhattan (controlled by the Rockefellers) - 6,389,445 shares - 32.
3%
2) Citbank - 4,051,851 shares - 20.
5%
Thus, these two entities control nearly 53% of the New York Federal Reserve Bank. Doesn't that boggle your mind? Now, considering how many trillions of dollars are involved here, and how the bankers are WAY above our "selected" officials in Washington, D.C., do you think the above-listed banks and families have an inordinate amount of say-so in how our country is being run? The answer is blindingly apparent.
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Public Banking Institute
ianadds on Mon May 07, 2012 5:06 pm
State Activity, Resource and Contact Info
http://publicbankinginstitute.org/state-info
However, 17 states have decided enough is enough; they have introduced legislation for publicly owned banks or derivations, or for studies or task forces to determine how a publicly owned bank would operate in their jurisdiction. Three of these states have bills that were submitted in 2012 -- eleven states had bills submitted in 2011.
http://publicbankinginstitute.org/state-info
Forty-eight states currently have budget shortfalls. The common strategy being dictated in many of these states and in Washington is to call for budget cuts, eliminating important safety nets for the middle-class and those below the poverty line, as well as to repeal legislation guaranteeing collective bargain rights for unions. It’s as if the states and the federal government were corporations with no responsibility to their real stockholders, the citizens of the U.S.
However, 17 states have decided enough is enough; they have introduced legislation for publicly owned banks or derivations, or for studies or task forces to determine how a publicly owned bank would operate in their jurisdiction. Three of these states have bills that were submitted in 2012 -- eleven states had bills submitted in 2011.
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