Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash

Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash

www.bloomberg.com

The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system... “The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,”

Current rules don’t prohibit pension funds from buying failed banks.

- Bloomberg

(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
FDIC wants pension funds to prop up failed banks

Well there ya go.

While this plan was well thought out beforehand, now the existing loophole these disgusting criminals have studied long and hard to discover and then implement a plan to exploit will be the final blow to the American bastion of stability.

Investing in distressed banks doesn’t always pay off, as the U.S. Treasury Department learned with the Troubled Asset Relief Program. At least 60 lenders skipped some of their promised dividends to the TARP fund, according to SNL Financial, and a $2.33 billion stake in CIT Group Inc. was wiped out last year when the lender went bankrupt.

So now they wan't to pawn off this loss to the already raped and pillaged American People.

The Middle Class in America has taken the harshest brunt of this country's economic shortfalls, as well as have had to suffer grave losses financially and emotionally to just be used by these criminals to prop up the broken system long enough...

Just to kick out the legs from underneath them as they make their final grab and dash scheme happen.

If this turns out to be ANOTHER Enron, AIG, or other relative scam...

I promise you America, I'm going hunting... with or without you. maybe I'll even get an opportunity to land a nice 40 point rack! =)

www.bloomberg.com
(visit the link for the full news article)

Originally posted by DarkspARCS

Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash

www.bloomberg.com

The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system... “The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,”

Current rules don’t prohibit pension funds from buying failed banks.

- Bloomberg

(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
FDIC wants pension funds to prop up failed banks

Remember, they tried to get our 401k's twice in a year. One time to have put all our 401k's into SS to give us a guaranteed retirement (which doesn't make sense since we have been paying into it and the govt. has been borrowing the money from SS and replacing it with IOU's, so all they have to do to fund SS is to redeem those IOU's yea right.). The second time a few months back they wanted our 401k's to be invested 20 percent into annuities, and you can bet a million dollars that the guaranteed annuities will be in US Treasuries don't laugh its backed by the FULL CREDIT AND FAITH OF THE US GOVT..

What should be said here is why is the FDIC (Federal Depositor Insurance Corporation) needing private equity and state pensions to help it to prop up these bad banks and their assets. For one why aren't they going to the govt. to get funded. Two why should I risk my pension and equity funds on bad banks (in essence the FDIC is trying to lay the risk off on states essentially). Three, it doesn't fill me or anybody with an IQ over mud with confidence that the FDIC can't run to the govt. for funding (for some reason) and are trying by hook or by crook to con pensions and other private/state funds to invest in this junk.

You know your country is in trouble when the govt. is trying to take your pension funds, and if you don't think they will do that then google Argentina's president want access to state pension accounts.