Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Start

[Seedersandleechers]

Turning On Each Other.





Finally, after trillions in fraudulent activity, trillions in bailouts, trillions in printed money, billions in political bribing and billions in bonuses, the criminal cartel members on Wall Street are beginning to get what they deserve. As the Eurozone is coming apart at the seams and as the US economy grinds to a halt, the financial elite are starting to turn on each other. The lawsuits are piling up fast. Here’s an extensive roundup:

Snip:

Well, well… here’s your Shock & Awe:

First up, this shockingly huge $196 billion lawsuit just filed against 17 major banks on behalf of Fannie Mae and Freddie Mac. Bank of America is severely exposed in this lawsuit. As the parent company of Countrywide and Merrill Lynch they are on the hook for $57.4 billion. JP Morgan is next in the line of fire with $33 billion. And many death spiraling European banks are facing billions in losses as well.




http://ampedstatus.org/full-blown-civil-war-erupts-on-wall-street-as-reality-finally-hits-the-financial-elite-they-start-turning-on-each-other/



Interesting read.

[RKP5637]

1. Frankly, the country would be best served if wall street and the banksters

totally collapsed. They never really felt the pain of their last debacle and to date it's been nothing but big band-aids on a hemorrhaging system with a piss poor prognoses.

[Name removed]

20. Deleted message

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[patrice]

21. !!!

:rofl: :rofl:

You really surprised me with that punchline!

[rhett o rick]

62. Dang, not fast enough. What did I miss? nm

[Name removed]

23. Deleted message

Sub-thread removed by moderator. Click here to review the message board rules.

[RKP5637]

24. +1, n/t

[chill_wind]

25. Hah!

:rofl: I can seriously, seriously relate.

[Name removed]

26. Deleted message

Message removed by moderator. Click here to review the message board rules.

[rdking647]

39. so i guess your pro death penalty

[calimary]

28. And it would be SO well-deserved!!!

[TMED]

34. I want to throw red and green jello on them, one by one

and I DO hope they're wearing white shirts! HMMPHH!

[rdking647]

38. actually it would destroy the country

[bemildred]

43. Actually, it would save the country. nt

[RKP5637]

44. It seems we're already heading that way, at least to me. n/t

[CrispyQ]

82. Me too.

Continuing to do what we've done isn't working!

[RKP5637]

84. Take a look at #73, if you've not seen that video yet. I thought it was

excellent.

[chervilant]

51. Or...

Maybe we need to rip off the scab, drain the foetid abscess, and let this wound heal?

[rhett o rick]

60. I would love to hear your explanation. nm

[JDPriestly]

83. Failing to punish fraud would due terrible harm to our

business community. That is because business is based on trust. Unless the government and the courts punish and exact repayment of gain earned by fraud, our whole system falls apart.

[Jackpine Radical]

99. Business is no longer based on trust.

The old concept of "marketplace morality" is long dead. Everything is cheapened, monopolies rule the roost, there is no competition in the arenas of integrity, quality & efficiency.

[JDPriestly]

100. Sorry about the obvious misspelling.

[1StrongBlackMan]

96. Not just the country ...

The entire (financial) world. And though we can fantasize that we would come out well ... such thoughts are merely fantasy. Really, how many of us could live off the land? How many of us live in an environment in which we could even attempt to live off the land?

[Fokker Trip]

101. It can't be stopped, only delayed.

When a limb is declared to be gangrenous, do the doctors just leave it alone and hope that the infection will stop and the person will be able to use the limb again?

No. They remove the limb, anaesthetic or no, and the person will likely live and adapt to the missing appendage.

The financial system is going to collapse if it stays on its present course and there are no signs of that course changing.

Better to take the hit and get it over with rather than live in the delusion that the US can rise to its former glory, it can't and it won't as the pre-eminence of the US since WWII was based on a one off confluence of events. Americans will have to face this sooner or later, surely its better to take the medicine as quickly as possible.

[sulphurdunn]

45. If they contribute anything

of value to society anymore I don't know what it is. They have become monstrous parasites that are killing their host.

[RKP5637]

73. If you' not yet seen this on Inflationary Depression, I thought it was excellent.

I think we're in severely uncharted territory.

"In this episode of PressTV's On the Edge, Max Keiser interviews economist & author Paul Craig Roberts.

They discuss the current state of the US & Global Economies; ongoing illegal wars being supported by the Obama administration; fraudulent markets worldwide; & how we are spiraling into an inflationary depression."

Here's the video:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x614295

[Seedersandleechers]

74. Thanks for the link

[evilDonkey]

79. Keiser

Glad to see there are other Keiser fans out there. His video on Peak Oil is awesome.

http://www.youtube.com/watch?v=KrjX4Nf_wGM">People & Power - Peaked

[RKP5637]

81. I like Keiser. He seems right on track to me. Thanks for the link!!! n/t

[CrispyQ]

87. Excellent video.

"Financial terrorists." ~Keiser

"These are not democratic outcomes." ~Roberts

"...a debtor's prison run by Wall Street." ~Keiser

"...the United States is trapped...a falling dollar exchange rate & in rise in domestic inflation. One can't imagine a worse economic outlook than the US confronts at this time. It's equally as bad, if not worse than Gorbachev faced in the Soviet Union in it's final days."

on edit: just finished this vid - well worth the time.

[JDPriestly]

90. Thanks. Great video.

[bluestate10]

75. I agree. If there was some way to cleanly inoculate mainstream america

from a Wall Street meltdown, I would wholeheartedly want to see Wall Street destroyed. I view Wall Street as a parasite that is ravaging the national body. Fuck Wall Streeters and the money that they give to anti-Constitutional elements of society.

[RKP5637]

91. It's a real mess, there is so much intertwining between Wall Street and

mainstream America. ... but I don't think it's going to be good for mainstream America either way, because we're dieing a slow death now. IMO it's pretty close to time for radical surgery and hope the patient (us) survives.

... problem is, it's so gridlocked in DC, I'm afraid it's just going to morph along into whatever it's headed toward. Sometimes I think the ultimate agenda is to bring all wages down to the level of China and then move production back here when global wages level out.

I don't think I've ever seen this country this screwed up as over the past decade.

[1StrongBlackMan]

95. Unfortunately ...

unless you have about 5 years worth of food and water ... and enough weaponry to keep it, that which would best serve the country, would not serve you, or anyone else similarly ill-prepared.

[RKP5637]

97. Yeah, quite true! n/t

[Rex]

2. Even if they are all collectively fined half a trillion dollars

they still swindled 16 trillion, which makes it a sweet sweet sweet deal for them!

[Scuba]

33. Bingo.

[Tuesday Afternoon]

3. k&r

[white_wolf]

4. I can end this civil war right now.

Let's nationalize all the banks and seize their assets. They've had more than their just compensation seeing as how much they've stolen.

[RKP5637]

5. That, would be a bold step and this is the time for bold steps. n/t

[The Doctor.]

12. "No new taxes."

No, new taxes."

[Curmudgeoness]

6. I have to agree with you. They will never clean up their

behavior, and will get worse over time, just as they have been.

The only thing I worry about with this is that right now, our government is so disfunctional, I am not sure we would have a better deal with nationalization.

[girl gone mad]

10. Then think of it as pre-privatization.

The assets will only be in the hands of the government for a limited time. It could be as little as a few days.

[Enthusiast]

54. This is good.

"The only thing I worry about with this is that right now, our government is so dysfunctional, I am not sure we would have a better deal with nationalization."

This is true.

[ozone_man]

7. +1

You said it all succinctly.

[FogerRox]

8. Hard times require hard solutions

[patrice]

14. How about a step in that direction: Stimulus-type funds to those who agree to abide by certain

requirements: No off-shoring, Bring exported jobs home, Voluntary EPA compliance . . . .

???

[white_wolf]

17. I would be happy with that. It's not my ideal solution, but at least it's progress.

Which is something we haven't seen in a few decades it seems.

[patrice]

18. I think of it as an appetizer for the real deal. Show some improvement, which though technically

private, could be a step-wise approximation of nationalizing enough basic resources that these kleptocrats can no longer threaten us (as much) again.

[patrice]

19. Fuck, just buy some of them off!! It has to be the right ones though. The ones that could go down

if we don't, but DO have a chance of succeeding if we do help them. Being at mortal threat like that, it'd be more likely to get really good concessions out of them for our help.

But they MUST be able to succeed, so we can use them as a role model, and that success question is based on PRIVATE/secret information, which, if we're incorrect about it, they could get taken down ANYWAY and then they'd be a model for why not to make our government save some of them, so . . . . outright nationalization might be a better bet, because that way you could get all of the information that you need to fix them and that is possible to get.

[Mz Pip]

86. Maybe eliminate

the subsidies and other tax loophopes for corporations who off-shore jobs. Maybe if they lose their cash cow for doing so they will stop doing it.

I have never understood how deregulation will create jobs. It seems to be a talking point giving the impression that all would be well if corporations didn't have to bother with rules. I really don't see the correlation.

[rdking647]

40. exactly how would you do that

besides it being unconstitutional ....

[socialist_n_TN]

67. It would be easy. Compensate them,.........

at least the stockholders up to a certain level of shares, but above that minimum level (to protect the small shareholders)compensate them with 100 year bonds that can ONLY be redeemed IN PERSON. No descendents. That way you could say you "Constitutionally compensated" the shareholders.

Or, as I suggested to a Jim Cooper economic staffer in '09, wait for the next collapse and buy up the stock at bargain basement prices and create a "Bank of the United States" federally owned and operated.

[abelenkpe]

47. +1 nt

[14thColony]

49. I agree 100 percent

It's time.

[boomerone]

50. That's what should have happened during the collapse. We would

still have the missing jobs problems, but we would not have trillions sitting in banks which are content to simply absorb more money. Without velocity (movement) money doesn't do much for an economy. Unfortunately, the string-pullers are the only ones who can fix the mess, and they are crooked. Going to take a Black Swan event, or a complete collapse.

[Enthusiast]

53. Nationalize the banks! Now!

That was the correct action to start with.

RESTORE THE RULE OF LAW!

We would have been money ahead to bail out every delinquent mortgage. But that would be bailing out the honest working stiff instead of the criminal fat cat. Might send a bad message, lol.

[rhett o rick]

65. There you go again and I am with you all the way. First get control on lobbying. nm

[jwirr]

58. Agreed.

[bluestate10]

76. I would go even beyond that. I would recapitalize banks and imprison most of their executives. nt

[cprise]

80. The political currency of the mass media determine what is possible.

The corporate media narratives would have to be neutralized in some way before you could do anything counter to Wall St. interests.

The value of money is inherently a psychological phenomenon and this is why the Wall St.-owned media are so particular about the talking points they keep repeating.

[Fokker Trip]

102. If only the politicians had that much integrity or courage

Because I think that this solution would work, just the restoration of some confidence would do a great deal.

[Fumesucker]

9. I can solve this with three words...

[chervilant]

55. Dog help me...

I laughed out loud for that one...

[HowHasItComeToThis]

57. WHEN BOFA WAS IN SAN FRANCISCO THIS STUFF DIDN'T OCCUR

BUT NOW THEY ARE IN THE SOUTH AND ALL SORTS OF CRAP HAPPENS

[Enthusiast]

69. They didn't have to jump this time.

They got bailed out with complimentary bonuses.

[JackRiddler]

11. Unless militias are shooting each other from across the street, the metaphor is in bad taste.

Otherwise, it's wishful thinking.

The fuckers will keep getting away with everything until a million people shut Wall Street down.

Apropos:


http://www.adbusters.org/blogs/adbusters-blog/occupywallstreet.html

[Tatiana]

13. Bank of America just might be going down unless it has a powerful benefactor to protect it.

Chase is safe, IMO but I think BoA is too exposed at this point. They really are turning on each other.

If we truly wanted to improve the banking sector, we'd start with nationalizing Bank of America.

[Zanzoobar]

15. Mr. Buffett might be that guy.

He's rather powerful.

[Duppers]

27. "Buffett's investment in Bank of America might turn out to erode confidence in US banking sector

New York Times Sep 1, 2011

Last week, our financial Superman, mild-mannered Midwesterner Warren E Buffett, swooped in again to save another bank, the financial markets, the US economy and just maybe our precious way of life.

Buffett's purchase of $5 billion worth of Bank of America preferred stock (on his usual generous terms, including long-lasting warrants to buy common stock at an attractive price) immediately stiffened the upper lips of chattering investors and pundits. Bank of America's chairman hailed it as a "vote of confidence" in the bank. It was also celebrated as a signal that the worst was over in the rout recently experienced by the US financial sector.

For the moment, that all seems right: Bank of America's stock is up 17 percent from the Aug. 25 announcement, and stocks of the other three major US banks – JPMorgan Chase, Citigroup and Wells Fargo – are also up.

http://articles.economictimes.indiatimes.com/2011-09-01/news/29953880_1_banking-sector-brian-t-moynihan-china-construction-bank


Sooo, hmmmm.

[geckosfeet]

64. I'd say, Mr. Buffet saw BOA's 'restructuring' on the way, and simply wanted to be

able to have a voting say in how the bank proceeds after tshtf. Basically he bought voting and ownership rights. It's an investment for the future. Might cost him some up front but in 5 to 6 years he will basically own BOA, and be running it- hopefully for the better. Current and recently retired CEO's will be in jail or have been fired.

I might even do business with a Buffet owned BOA. Depends on how much he can influence their business practices.

[Ruby the Liberal]

93. Doubtful as his shares are Preferred AND cumulative.

The only time Preferred stocks are excepted for voting rights is typically in cases when dividends aren't paid. Buffet's deal with BAC was for 6% annual cumulative and his hedge was the 700 million warrants. If he got voting rights out of that, it would be type size 72 font on the WSJ.

If you believe I am in error and he was granted voting rights in this deal, please do provide a link.

[Ruby the Liberal]

94. On another note - here is a quick and dirty on the deal

Similar to the Goldman deal, and they couldn't wait to pay him off because he held all the cards.

He wants nothing to do with management - he is about profiting off distressed stock (and this was quite the deal, IMO).

http://pragcap.com/buffetts-bank-of-america-deal

[SavWriter]

16. The real problem is corruption in the formation

We have reformed the CIA a dozen times, yet they still break the law. We have reformed the mortgage industry at least that many times, yet they still break the law. The system is corrupt, and anyone involved, anyone who you want to reform it, is unable, since they are part of the corrupt system.

The only answer is to tear down the entire disgusting mess, and begin again. Nationalize mentioned above is one idea, and a good one. But we must be careful not to entrust such a valuable asset as the entire banking industry, to those who have already demonstrated a willingness to abuse the system. Like trusting Jobs to GE who eliminated tens of thousands and then shipped an entire division to China.

[Odin2005]

22. The world would be better off if they all killed each other.

[dmosh42]

29. Bring back Glass-Steagall!

[malaise]

32. That simple n/t

[AlbertCat]

46. Bring back Glass-Steagall!

Bingo...
and maybe even more regulation.


Also... eliminate $$$ from elections... somehow...

[Enthusiast]

56. Now now, we can't do anything right.

That would constitute burdensome regulation on business.

[Exilednight]

30. All those lawsuits, and I bet they will require a bailout to pay for the damages if they lose. n/t

[jerseyjack]

31. First the feds file the lawsuits. Then they win the lawsuits.

Then, after the lawsuits are filed, the Republicans vote to bail them out because they are too big to fail

[GoCubsGo]

35. It's about time.

May they destroy each other.

[BNJMN]

36. Where's the Wikileaks when you need it? Insurance? Hello? Cracken? What happened?

[Buns_of_Fire]

37. We really need one of these charts, revised appropriately for Wall Street banksters:

You know, just to post around town here and there...:evilgrin:

[Fokker Trip]

103. Smiley memories of ManBeef.com

Did you ever see that site? I always ranked it up there with Goatse. I miss those wondrous early days of the internet. Seeing those sites for the first time was amazing.

[Aerows]

41. It's only a matter of time before they all turn on each other

They've raided Main Street so badly, the only ones with any money left are each other, and we all know banksters go where the money is!

[Jack Rabbit]

59. "It's where the money is."

-- Willie Sutton (1901-1980), in response to the question, "Why do you rob banks?"

[lib2DaBone]

42. When the low hanging fruit is gone.. and the cash flow is gone....

.. they bring out the lawyers to pick the bones clean.

[liberal N proud]

48. This is where the trillionaires start to consume the millionaires

They have crushed the middle class to the point it will not recover and they must start on their own.

The game of monopoly isn't over until one player has it all.

[SnakeEyes]

72. There are no trillionaires

[bluestate10]

77. There will be one within the next 20 years. I just hope that person is a patriot. nt

[caseymoz]

52. Call me skeptical.

This seems to me a dispute on how to divide the spoils, which are going to stay in the hands of the wealthy.

Unless individuals responsible for the schemes are brought to justice, and the money they stole is re-disbursed to the classes from which it was stolen nothing good is coming from this.

I'll be impressed that there's a serious dispute when there are casualties.

[rhett o rick]

61. This is part of the capitalistic cycle. Once the little fish are eaten, the bigger fishes go

after the big fishes, and so on. This isnt a good sign. It indicates that we are in the last throes of capitalism and total collapse.

[2banon]

68. i wish..

banksters, wall street robber barons, and the PTB will find the necessary props to keep their corrupt enterprise afloat one way or the other. IMO, the collapse should have been allowed to manifest itself completely in 2008 so that we'd have a prayer in creating a more sound economy, but no.. the house of cards once again propped up to continue the illusion of wealth. and so it goes..

[RKP5637]

98. Yep, somewhere someplace I posted something like that once ... that when the rich

start devouring the rich we're finished. That's pretty much the end game of capitalism, only one is left standing, and then they fall.

[formercia]

63. I'm going Short on Pounds of Flesh.

:evilgrin:

[southernyankeebelle]

66. It doesn't matter in the in the people will get screwed as usual.

[L0oniX]

70. Feed them all Snickers bars and throw them in the ocean.

[bluestate10]

78. I agree. Their only value to society is as shark food. Then at least seals don't die. nt

[Deep13]

71. marking for future reference

[truedelphi]

85. The biggest problem is that Wall Street owns almost 90% of all

the top Elected Officials.

If it takes putting all of us out of our homes, killing our pets for fodder, and selling our kids into slavery, our elected officials will gladly do it.

Whoopps! Tens of trillions of dollars created by Paulson/Bernanke/Geithner, have been doled out to only the Financial Elite. It's just a matter of time before the rest of their plan falls in place.

[marions ghost]

88. Let them implode

would be a great day for this country.

[dogmoma56]

89. thats chump change compared to what they ripped us off for. they're just freaked out about no more

big ass'd bonuses.. The Financial Elite's welfare scheme is over, that's all they'r cry'n about:nopity:

[Initech]

92. If we taxed the shit out of these criminals and finally started holding them accountable...

We wouldnt be in this mess!!!