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The banks are dead, not sick, dead…goldenjackass.com
(CLICK HERE) as the anonymous industry insider Dr Banker is interviewed. The guest claims the massive blood infusions have failed to revive the defunct banking system. “The transfusions usually take two to six months, and typically six months or so after the crisis is over, are gradually withdrawn over a period of several months to return total money in the system to pre-crisis levels. My theory is, and I admit not everyone will agree with it, is this: the patient is dead… They can keep the intravenous tube hooked up to a pint bottle or a 100-gallon drum of blood, but it does not matter if the blood is not circulating through the patient, so he can take it in… Note that many smaller banks that do not operate as part of the Fed system are working just fine… The reason: Credit Default Swaps. It is now well understood that CDS are at the root of today’s financial crisis. Your readers have known that risk since 1999… Some have suggested the simple expedient of canceling them all, declaring all of the CDS contracts null and void. CDSwaps certainly killed [the patient] but removing them is no cure.” Dr Banker went on to explain how in the last ten years, Credit Default Swaps have sustained the
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My view follows as rejoinder. If truth be known, the entire AIG takeover by the Dept Treasury with USFed loans was intended to place the acidic AIG losses from Credit Default Swap contracts under the watchful guidance and management of JPMorgan. They wanted CDSwaps out of public view. The AIG blowups now do their damage under the USGovt roof, at federal expense. AIG announced it will be selling their lucrative airline leasing fleet, to raise money in an offset to its implosion. That will leave the USGovt with amountain of CDS World Trade Center Expect about 40 to 50 more tranches, and at least $2 trillion more in bailout backstops in the next few years.
[ATTACH]887[/ATTACH]
My view follows as rejoinder. If truth be known, the entire AIG takeover by the Dept Treasury with USFed loans was intended to place the acidic AIG losses from Credit Default Swap contracts under the watchful guidance and management of JPMorgan. They wanted CDSwaps out of public view. The AIG blowups now do their damage under the USGovt roof, at federal expense. AIG announced it will be selling their lucrative airline leasing fleet, to raise money in an offset to its implosion. That will leave the USGovt with a
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