U.S. Bank ' to fail within months '

reply to post by St Udio


Actually I got news on the two banks that actually will be getting bail out very soon by our govenrment.

It may come as little surprise that the firms highlighted for a possible future collapse were Fannie Mae and Freddie Mac. These institutions represent nearly half of the U.S. housing market, backing $5 trillion of the $12 trillion worth of American mortgages and home loans.

It was revealed Monday that a Treasury Department takeover of the two government-endorsed giants was imminent. News of the deal sent Fannie and Freddie shares plummeting in afternoon trading sessions as shareholders dumped stock to avoid losing everything to the government reorganization.

www.economyincrisis.org...

The op may be a littler be off, but the true is in the pudding.

Originally posted by kosmicjack
Respectfully, I think you need to change the title of your OP. The article says "U.S. bank" but does not name a specific bank. Your title says "U.S. Bank", which could imply U.S. Bancorp - a highly reputable bank backed by Warren Buffett's Berkshire Hathaway and, by all accounts, stable.

No need to freak people out, the situation is bad enough as is...

I agree... I clicked on this because I thought you were talking about U.S. Bancorp also. I was concerned about my boss as she has 3 accounts through there. but thankfully, it's not about them so all is good.

Yeah, the economy is getty pretty bad.
I just had to pay $7 for a bag of roasted/salted nuts
I remember when they were $1.50.

-Jimmy

Originally posted by marg6043

It may come as little surprise that the firms highlighted for a possible future collapse were Fannie Mae and Freddie Mac.

www.economyincrisis.org...

even though FREddy & Fanny ain't "Banks"..the both control or have sway over Trillion$ of the working mans main source of retirement $$ ---their Home !

thanks for the link...i'll read that site daily
(among the other 8 i read every day..! )

Well, riddle me this...I was told NOT to put my money into US Bank. (U.S. Bancorp) by a close associate friend of mine. However this was a few years ago. I’ve never went back to them

The fun has only really started I think.

There is talk of a looming recession here in the UK - I thought we were already in one? The fact that growth slowed significantly doesn't seem to be ringing alarm bells with people at the moment, but it's a pre-cursor to a reversal. It has to slow to go backwards.

We haven't seen the full extent of the mess of the sub-prime market yet I don't think. Other securities were hit IIRC, which will have an effect.

Merryll Lynch is in big trouble after mis-selling $12.6 Billion dollars worth of bad debt to companies as good debt. They had to buy it all back. They're still facing legal action.

reply to post by mirageofdeceit


Sub-prime is pretty much over, most of those that are going to default already have. It's prime time now, or more specifically Alt-A time. Despite the damage that the sub-prime defaults did, most were at least based off of legitimate incomes. Not so with Alt-A. The levels of fraud, fiction, and faked incomes in that space is astounding, and will make sub-prime look like a late payment.

reply to post by St Udio


You know what I wasn't sure to post them as banks but still they do hold trillions of dollars so they loan money I guess I see them as banks.

Yeah, I saw this on BBC last night. Which is why I made this thread...

www.abovetopsecret.com...


The thread top is about investing in gold. It doesn't look like things are getting any better and gold IS down right now... I dont want to see all my hard earned dollars go up in flames while my family starves to death.

First off let me make it clear i don't know much about banking etc


That said .. Why not just nationalize the Fed? The Federal Reserve isn't Federal in anything other then name. Its a private entity. This is one thing i never have been able to understand. Why does the Government pay for money it should be making itself? Etc..

The entire principle of paying interest on money that has just been made etc doesn't make sense to me at all. I see no reason at all why the federal government couldn't nationalize the Fed and curb this stupid practise in the butt.

Could someone explain to me why this could not happen (Other then the bankers wouldn't let it) And also why it shouldn't happen. (Other then the bankers wouldn't like it)

Seriously ? Why shouldn't the Federal Government just nationalize the parasitic fed ? The Fed is nothing more then a Leach.

Gold has been suppressed one last time so their friends can get out. Same as the late '20's. Only the happless 401k dopes will be left holding the bag.

At least they have Social Security to fall back on, which guarantees low quality cat food till death.

Edit to add: Wolfmanjack, this is the very core of the problem. There are countless threads here and elsewhere that expose the truth of Central Banking. Andrew Jackson refused to renew the Second Central Bank and was the first Pres. to face assassination. JFK printed United States Notes backed by Fort Knox Silver and we know what happened a few months later.



[edit on 19-8-2008 by HimWhoHathAnEar]

Originally posted by wolfmanjack


First off let me make it clear i don't know much about banking etc


That said .. Why not just nationalize the Fed? The Federal Reserve isn't Federal in anything other then name. Its a private entity. This is one thing i never have been able to understand. Why does the Government pay for money it should be making itself? Etc..

The entire principle of paying interest on money that has just been made etc doesn't make sense to me at all. I see no reason at all why the federal government couldn't nationalize the Fed and curb this stupid practise in the butt.

Could someone explain to me why this could not happen (Other then the bankers wouldn't let it) And also why it shouldn't happen. (Other then the bankers wouldn't like it)

Seriously ? Why shouldn't the Federal Government just nationalize the parasitic fed ? The Fed is nothing more then a Leach.

This is the trillion dollar question. There are a ton of threads on here asking the same question. The fact is the interest bill is going to be close to or even over $400 billion dollars. That means 25% of the taxes you pay is going right into the big bankers pockets. This is an expense that does NOT have to exist if we followed the constitution. This is why people like Ron Paul and co have so many peoples attention.

Originally posted by jimmyjackblack
Yeah, the economy is getty pretty bad.
I just had to pay $7 for a bag of roasted/salted nuts

I remember when they were $1.50.

-Jimmy

You know...

Even though roasted/salted nuts are at $7 and Beer nuts are around $3.50, you can still find Deer nuts under a buck.

reply to post by Quazga

You know...

Even though roasted/salted nuts are at $7 and Beer nuts are around $3.50, you can still find Deer nuts under a buck.

classic.

also, the fault is not of banks.. the masses are to blame. lol
think about it.

money is printed out of thin air but only when someone walks in and begs for a huge loan that they will never be able to pay back. Greedy.

reply to post by MrJelly

this sort of scare mongering is the sort of ` self fulfiling " prophecy " ` that ACTUALLY causes financial institutions to get into difficulty

its a vicious circle - rumours start - and people act on the rumours .

and then the scare mongerers that started the rumours congratulate themselves for being " right "

and the next time the scare mongerer starts a rumour - more people take ntice because he was " right " last time

absolutly priceless .

reply to post by ignorant_ape


I used to believe that too but in this latest round of financial collapses (the last 12 months or so), these companies were all hiding their true condition from their investors. Given the opportunity, they would take your money with one hand while hanging up the "out of business" sign with the other.

Someone please explain to me why banks deserve to make 300 percent profit over the life of a 30 year loan of money which is not theirs and which dosen't even exist until they lend it? If that is not a system of bonded servitude what is?

Gold has been suppressed one last time so their friends can get out. Same as the late '20's. Only the happless 401k dopes will be left holding the bag.



Here is an excellent article on what is going on with Gold and Silver......

The Disconnect Between Supply and Demand in Gold & Silver Markets


seekingalpha.com...


[edit on 20-8-2008 by Pinktip]

reply to post by Quazga


Yeah, I tried Deer Nuts one time, alone, in the woods, with my pants down.
I didn't like it.

Ya know if times get tough, I know where some Civil War gold is hiding, nobody knows except a hand full of people (like maybe 10) and I'm one of them, if it comes down to it I'll just get me some of that gold.

Also there's always the tree leprecaughn to consult if in need of gold:

Who all see the lepricaghn say Yeah!... Yeah!


I gotta gets me a hold of one of them special leprecaghn flutes.

-Jimmy