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alstry (35.88)

Must READ!!!.....Government and Bankers Stealing From Americans?

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August 02, 2009 – Comments (9)

So what's going on here?

Simple: An enormous number of banks are holding loans at or close to "par" that really aren't.  They're holding mortgages at massively-inflated values, even on defaulted properties, and this is why you are not seeing more foreclosure sales - that is, why inventory is being held back.  If they sell it the accountants will force recognition of the loss, which will render them instantly insolvent, but so long as they "extend and pretend" they are marking these loans way, way above recovery value.  The upshot of this is that these firms' balance sheet claims on asset values are massively inflated, regulators know it, and they're intentionally ignoring it. 

I have been sounding the alarm on this for more than a year; it has in fact been the focus of multiple petitions to Congress and the cause of thousands of dollars of personal expense faxing letters and Tickers to members warning them of the danger of letting this sort of accounting misdirection continue.

The claim of banking sector health and "successful rescue by Treasury and The Fed" is in fact false.  No such thing has occurred.  What's going on here is nothing more or less than intentional false claims of asset "valuation", which is repeatedly exposed when the FDIC is finally forced to seize institutions, exposing the lies.  Then, suddenly, 20, 30, even 40% losses on alleged "asset books" come out into the light and the taxpayer eats them. 

The bank executives and accountants that played this game with the books should have been arrested and the bank thrown into receivership over a year ago.

http://market-ticker.denninger.net/archives/1283-Is-The-FDIC-Broke-And-Covering-It-Up.html

Bankers giving themselves bigger bonuses than income?  Politicians getting large campaign contributions from bankers?  Citizens getting their homes foreclosed, businesses shut down, incomes taken away while they watch the interest rates bankers charge them skyrocket?

If we don't restructure the debt soon, our country will break apart.

9 Comments – Post Your Own

#1) On August 02, 2009 at 4:39 PM, alstry (35.88) wrote:

When the government doesn't enforce the laws against a certain group of people, in a nation with an equal protection clause in its Constitution, is there any value in the the rule of law?

We could be about the enter some of the most unsettling times in our nation's history regarding the role of government and the Constitution as drafted.

 

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#2) On August 02, 2009 at 5:35 PM, prose976 (< 20) wrote:

Alstrym,

You really need to supplement your viewpoints and passions here with "real" action.  Writing blogs is not real action, because it doesn't inspire real action.

Take it to the streets, literally.  A million person march on Washington might just do the trick.  Stop wasting your time faxing and sending messages to politicians.  That stuff goes mostly unnoticed, it never makes it to primetime news, front page or to mainstream radio.  However, a giant march on Washington would.  You would then have national media coverage and a platform from which to enlighten Americans.

Here, you're just letting off steam, reaching a few individuals, but all in all, the internet is a passive medium which has little impact unless we're talking about ecommerce, campaigns or entertainment.

You can't stay behind that computer and expect to make a difference.  Just ask any start-up.  They need to get out, organize meetings, get financial support, etc.

Here, you are entertaining, frustrating and a little over-wrought, but out there, in the real world you can stir emotions and move people to action.  If you feel you are not equipt to do it yourself, then find a front man who can get your message across.

If you actually believe everything you blog about with the same amount of passions, drive and persistence, you will definitely be successful.  Heck, I'll join the effort and the march.

If you have made your millions and millions already, then do something useful with your time and physical energy.

Otherwise, this internet is a dead end for your type of rhetoric.  You make some good points, have some good information and insight, but you have negligible support and as far as I can tell, no plan to exercise your other Constitutional rights, to actually meet these abuses head-on in a public (meaning a real, face-to-face) venue.

You talk a good talk, but are you willing to walk the same walk, put it all on the line and really DO something?

Let me know if you do, because I am a patriot to the core.  But I haven't done the research and have not amassed the knowledge that you have to come across as the authority.  It's a big fight, but worth it.

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#3) On August 02, 2009 at 5:47 PM, gldnlvr64 (< 20) wrote:

Let's do it..a huge tea party.

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#4) On August 02, 2009 at 5:58 PM, alstry (35.88) wrote:

Pro,

That is next baby...but the timing had to be right. 

We are getting dangerously close to degenerating into a lawless society unless we restructure the debt soon.  The public is finally waking up.

How can you even talk about health care reform if hospitals can't pay the doctors due to massive debt payments?

Maybe the slogan will be RESTRUCTURE NOW!!!!

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#5) On August 02, 2009 at 6:47 PM, jesusfreakinco (28.91) wrote:

Prose,

Excellent post!

JFC

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#6) On August 03, 2009 at 1:21 AM, topsecret09 (38.57) wrote:

 Let me know where to meet you, LETS ROLL !!

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#7) On August 07, 2009 at 8:54 AM, HighRisk41 (35.29) wrote:

I like to march, sign me up. I dont think a million person march is gonna cut it on this one though.. We need like a 10million person march before the gov opens their eyes and realizes the American people have just about had enough. Keep it up Alstry some people are listening.

 

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#8) On August 07, 2009 at 10:05 AM, jesusfreakinco (28.91) wrote:

HighRisk41

It sound like people are marching against the Obamacare plan em masse' at town halls all over the country.  They are just ignoring (or trying to) it.  From Drudge this morning.

SUMMER '09...
White House to Dems: 'Punch back twice as hard'...
TOWN HALLS TURN VIOLENT...
VIDEO: UNION THUGS UNLEASHED... PHOTOS...
6 arrested after St. Louis meeting... VIDEO...
Physicians jam meeting in Houston: 'Don't want socialized medicine'...
Tempers flare in Michigan...
PEOPLE SHOUTING AT PELOSI IN DENVER...
NOONAN: 'Democrats Look Desperate'...

JFC

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#9) On December 30, 2010 at 5:16 PM, ElPaso2011 (< 20) wrote:

Alstry could not be more correct.  To list the flagerant violations of the Constitution which have crept into our lives in just the past ten years would require an entire website.  To name a few: separation of powers if violated every time the President "amends" the legislation Congress has passed to make it do what he wished it to do; the power of the President to suspend the Constitution and invoke martial law in the event of a national emergency; the violation of the 4th amendment against unreasonable searches and seizures in the form of warrantless wiretapping, American citizens being held in violation of due process of law once labeled a security threat; another 4th amendment violation in the form of intrusive searches of airline passengers; the training of the military to serve essentially as an occupying force in American cities as they did post-Katrina, confiscating arms just when honest citizens needed them the most while failing to control looting; most recently, the implementation of "If you see something, say something", an open invitation for the malintentioned to hurl baseless accusations at their neighbors; and, most alarmingly, the rise of all manner of secrets "lists" such as the no-fly list.  Tell me how any American, once listed, can find out why he/she is on the list or how to get off of it.  Right now, the only way is to file a form with the agency that put the person on the list in the first place. 

These lists can affect your freedom to travel, and soon will affect your ability to get a job!  What are people thinking to allow our government to get away with these incredibly intrusive and dangerous practices, so similar to tactics used in the 1930s to totally enslave another intelligent and industrious population -- a story familiar to us all. 

 A close reading of the thinking behind the Constitution reveals that these men, however imperfect, had seen tyrrany come parading in every form of sheep's clothing imaginable in Europe; they bent their will towards the creation of founding documents which took away the tools every tyrant in the history of humankind has used to control populations.  They did not mean for the population to have the right to keep and bear arms unless a hurricane hit the coast.  They did not mean a person's right to an open trial or to be held without charge to be violated under any circumstances.  Words such as inviolable were used and these rights were even presented as divine rights. 

Yet we are so preoccupied with our busy-wizzy little lives no one pays any attention.  We'll play plenty of attention with our money is worth 1/4 of what it is today and we are made to carry our ID cards on our shirts.  Wake up...  It's not a conspiracy theory because it's not secret and not a theory.  It's here.

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