Jones, who says she helped raise more than $3 million for the bank and invested $1 million in it, eventually received 27 construction loans for 12 properties from the bank, including second and third loans. Jones showed investigators second lien account statements with a balance due in April 2009 of $172,655 which was magically paid down to only $55 one year later. Jones states she did not pay off these loans but thinks someone directed by the banks executives made the balances ‘go away’.
  |
 |
 |
Stacy Summary: I found this video interview with Chris Whalen via Jesse’s Cafe Americain. And here is another article from his site with some great, if scary, charts (see one below) about the recent deterioration in the US housing market.
Pending home sales:
|
|
|
Posted in Headlines
Tagged double dip, fdic, federal reserve, finreg, germany, gold, housing, jesse's cafe americain, jim rickards, nouriel roubini, resolution authority, russia, sheila bair
Stacy Summary:. What a total con. So the taxpayer took on these banks’ bad debts, gave them untold trillions and now they are going to lend back to us at higher interest rates?
Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail out the government.
Senior regulators say they are seriously considering a plan to have the nation’s healthy banks lend billions of dollars to rescue the insurance fund that protects bank depositors. That would enable the fund, which is rapidly running out of money because of a wave of bank failures, to continue to rescue the sickest banks.
The plan, strongly supported by bankers and their lobbyists, would be a major reversal of fortune.
|
|
|
Stacy Summary: These headlines contradict any pronouncements on ‘green shoots’ and ‘bottoms.’ Speaking of bottoms, did you see the Bruno / Eminem clip? You will have to hunt that down for as soon as it goes up on Youtube, Viacom has it taken down. Also, I am looking for interesting New Zealand, Australian and/or other Asia Pacific headlines for our show this week.
[Denninger's] Disclosure: Short the American people, who appear to be as dumb as a box of rocks for putting up with this crap.
|
|
|
Posted in Headlines
Tagged black swan, bond vigilantes, bradford & bingley, fdic, gilts, hyperinflation
Stacy Summary: In a way, I suppose, the politicians are right. After all, we allowed neo-feudalism to arise in the hopes that we might become house-flipping Lords ourselves one day. So we kind of encouraged them to fleece us in order to build moats. The Queen, however, is not amused by the shambles of her neo-feudal state! I think she may get rid of this whole experiment with the Parliament. What do the Brits out there think? Better just to have one royal family sponging off the people to build their moats? I mean, why have 500+ royal families for whom we peasants have to build moats?
Updates:
|
|
|
Posted in Headlines
Tagged activism, fdic, moats, the queen, uk mp expenses, US treasuries
Rick Ackerman
King World News Mish Karl Denninger – Market Ticker Michael Hudson ZeroHedge The Big Picture![[Most Recent Quotes from www.kitco.com]](http://www.weblinks247.com/indexes/idx24_usd_en_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/platinum/t24_pt_en_usoz_2.gif)
Most recent: 
