Comments on: The Next Banking Bomb?

CBS News Investigates: Credit Derivatives Comprise $54.6 Trillion Of Risk Among Few Banks Left Standing

[joenikk]

Well, guys I guess someone probably needs something were they can just click "copy page" on and avoid clicking comments. A Pleasure.


So what that all add up to would be:

"''The Miranda Decision'' wasn''t worth the paper of it''s publication."

[teddiezmom]

Hell fire hath rain from the heavens above and then sayeth unto thee that seamonsters and unicorns will reign over the pixie kingdom over the River Jordan unto Gallile. And unto then sayeth the Lord that the Leviathon hath 40 Hydra heads and a snake spoke to him and he lived 900 years and God spewed fire onto thee and then spun straw into gold and climbed the beanstalk until water became wine and we ate his body and drank his wine and the princess put the pea under the mattress until she was lost in the woods but made her way home by dropping breadcrumbs but she was raped like the daughters in Sodom and then walked on water and ascended to heaven to avoid the end days where we spoke in tongues and removed the witches and Draculas. Amen

[sandinyc]

This isn''t the "next" big bomb. It is THE bomb that has already exploded. Subprime gets all the print because it is the underlying asset class that burst first.

[der1978]

and when rapture, aften the beast will rule and make rich and poor got be equal. and the beast smart look for who has wine and oil, give free. who not have got work hard wage by penny. that real. in the bible

Revelation 6:6 (King James Version)

And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.

[itdfactsu]

Does anyone really see what is happening this story from CBS DATED October 10, 2008


The Next Banking Bomb?
CBS News Investigates: Credit Derivatives Comprise $54.6 Trillion Of Risk Among Few Banks Left Standing

Notice the date of this article

And it''s not from the mainstream media

http://www.rense.com/general50/cooking2.htm

3-27-4

Cooking The Books Part II -
US $71 Trillion Casino Banks
By Michael Edward
3-27-4


Derivative holdings by U.S. banks increased nearly $4 TRILLION in just 3 months to now total over $71.1 TRILLION. JPMORGAN CHASE accounts for $3.1 TRILLION of this increase.

That''s $ 71,100,000,000,000.

The first 7 banks listed below account for 96% of all commercial bank derivative holdings, with 90% of these derivatives in extremely risky OTC (Over the Counter) contracts.

As I said in Cooking the Books Part I, U.S. banks are giant gambling casinos, and now they have become even larger gambling addicts at the expense of all Americans.


DERIVATIVES CONTRACTS AS OF DECEMBER 31, 2003 (based on just released 03Q4 OCC Bank Derivatives report)

This has now gone way beyond the imminent bursting of the US financial debt bubble... it has become an explosive financial weapon of mass destruction.



http://www.rense.com/general50/cooking2.htm

[der1978]

I know and remind in long year ago about in the bible in reveation talk same in happen today. soon, and I know it, most bank fail. same outside of world bank too. the beast will rule and become one bank. look this today and from 7 day since economy fail.

http://www.raptureready.com/rap17.html as look china lie to you. China won''t admit. why do remember summer of Olympic? China was hide of economy?

[eddieusa]

homespunlady

you are completely missing it. Let me take a wild guess, you support Obama?

If the guy is making 20K a year, and gets a 200,000 loan, that he can''t pay. With adjustible rates, he can pay for a year or two, and sell the house for profit, before his rate goes up, as long as house appreciates in that year or two.
Noone held a gun to his head to sign the papers. The problem came about when the house prices went down, and adjustible rates went up. That''s when you get into a foreclosure situation.

The poor is to blame, the stupid is to blame and the greedy is to blame.

[eddieusa]

Can we stop with the blame game...

Right now, everyone who supports for McCain don''t see the size of a hole we are in, and everyone who supports Osama don''t give a *** about the hole we are in.
Any federal intervention in the markets won''t work, as it''s like putting a band-ade on a gun shot wound.

The right thing to do now, is to cut federal budget in half. It would be painfull in a short term, but will be reduce the pain in a long term.

[homespunlady]

The problem IS NOT some "POOR GUYS BUYING WHAT THEY COULD NOT AFFORD".

Typical that the CONS that SET UP this CRISIS would "BLAME THE VICTIM".

At least with KEATING 5 and ENRON we STILL had the NERVE, OUTRAGE and ABILITY to INVESTIGATE,BRING CHARGES and PROSECUTE some of the TOP MANIPULATORS that destroyed so many ordinary citizen''s lives!

As it looks NOW the FAT CATS that used LOBBYISTS to push through SUCH DIRTY DEALINGS will "GET AWAY WITH IT" this time.

Guess "Financial Crisis Fatigue" has set in.

So many of the American people are acting like a BEATEN HOUSEWIFE who STAYS WITH the MONSTER that beats and abuses her!

It''s been a long and convoluted PONZI SCHEME CON JOB based on SELFISHNESS and GREED by people who ALREADY had MORE THAN THEIR SHARE of the Nation''s WEALTH yet in their BOTTOMLESS PIT OF GREED - Wanted MORE!

They wanted it ALL AT ANY COST even up to and Including the DESTRUCTION of the American People and their way of life!

So, this TINY SLICE of people AT THE TOP "worked" over decades to STEAL the ENTIRE WEALTH of our great Nation slowly inserting laws that FAVORED them, buying politicians, destroying leaders they could not buy and through careful media control and education "mismanagement" -DUMBING DOWN millions.

[random_radar]

The simple solution is to let all the contracts unwind and let all the fools go broke. You and I should not have to pay for stupidity.

Do you think you will suffer? Yes. But you will suffer less as a free citizen watching the idiots going broke than as an indentured servant paying for their greed.

[random_radar]

"well let me tell you this "FACT". The poor will not get us out of this mess.

Posted by stick1771 at 10:20 PM : Oct 11, 2008"

No is going to get you out of this mess, but the rich are going to make you pay for it so they can stay rich. Enjoy slavery.

[itdfactsu]

well let me tell you this "FACT". The poor will not get us out of this mess.


Posted by stick1771 at 10:20 PM : Oct 11, 2008

Wow wisdom isn''t a family trait from your side

[manofluv]

Stick1771 If I get laid off this week and Come December I am having trouble making ends meet what does haveing a Direct TV dish have to do with my situation. Because It is still on my house doesn''t mean it is working. Bad things sometimes happends to good people. Stop being so self righteous and have some compassion for your fellow Americans rich and poor.

[t_barr]

Dennis Kucinich on the Democrats Bailout Betrayal

www.truthdig.com/report/item/20081006_dennis_kucinich_on_the_democrats_bailout_betrayal

''The passing of the $850B bailout pulled the plug on the New Deal. The Great Society is now gasping for air, mortally wounded, coughing up blood. It will not recover. It was murdered by the Democratic Party.

We are on our own. And don''t expect any help from Barack Obama and Joe Biden, who lobbied hard for the bill and voted for it. Ignore their rhetoric. Look coldly at the ballots they cast against us.

We, as citizens, have only a handful of representatives left in DC, most of whom were left sputtering in rage and frustration on the House floor. The sad irony is that some of them were Republican.

''This was the largest single act of class warfare in the modern history of this country,'' Rep. Dennis Kucinich, D-Ohio, who led the fight in the House against the bailout, told me by phone from Cleveland.

''It is a direct attack on the American people%u2019s ability to be able to stabilize their homes and their neighborhoods. This single vote will define the careers of everyone. We are back to taxation without representation, to markets that are openly rigged.''

And don''t expect any help from Barack Obama and Joe Biden, Ignore their rhetoric, Look coldly at the ballots they cast against us...
~Dennis Kucinich (DEMOCRAT-Ohio)

[sandinyc]

This isn''t the "next" big bomb. It is THE bomb that has already exploded. Subprime gets all the print because it is the underlying asset class that burst first.

[goforitin08]

IN 2004 , (ALL GOP HOUSES ) 5 COMP WERE EXEMPT FROM BALANCE SHEET LAWS. ISTEAD OF MAX OF 12 TO 1, THEY WERE CARRYING UP TO 40 TO 1. THEY WERE BEAR STEARNS,
MERRILL,MORGAN STANLEY, LEHMAN, AND GOLDMAN. IT DEFIES LOGIC TO ALLOW THIS. THAT IS SIMPLY A DEBT
SHEET.

[goforitin08]

DO YOU THINK MABEY THE RICHEST PERSON IN THE WORLD KNEW WHAT HE WAS TALKING ABOUUT WHEN HE SAID CREDIT
DEFAULTS SWAPS WILL BE FINANCIAL DESTRUCTION, HEAR THAT PHIL GRAMM,( MCCAINS GENIUS), MR DEREGULATOR. THE
FEDS,SEC AND ALL THE IDIOTS ON THE HILL FAILED .

[hbevis]

JANUARY 1, 1994 WAS THE DAY THAT STARTED THE BANKING MESS THAT WE KNOW TODAY. BEFORE THAT A BANK COULD NOT OWN ANOTHER BANK ACROSS STATE LINES...

LOOK AT US NOW! A TOTAL MESS THAT IS GOING TO BE ALMOST IMPOSSIBLE TO FIX.

[shortestfuse]

I agree, we need conservative republicans and blue dog democrats - and we need to bring back regulations on the banking industry.

[robert2237]

shortestfuse- I full agree with you Bush is so liberal it hurts. But I see people calling him a conserv. don''t know why he is liberal most of his policies have been liberal.