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Merrill, Wachovia in Danger of Failing
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CNBC
August 20, 2008
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Merrill Lynch, Wachovia and other financial companies are at risk of failure as the cost of raising capital soars at a time when the banks need to pay settlements over auction rate securities, David Kotok, chairman & chief investment officer from Cumberland Advisors, told CNBC Monday.
“I think the financial problem is half way through the cycle … there’s another shoe to drop ahead of us and it could be more severe,” Kotok told “Worldwide Exchange.”
The cash companies need to shore up bad investments, “is up to about $50 billion and will probably top $100 billion before it’s over,” he added.
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August 20th, 2008 at 7:43 am
I can’t wait till the house of card falls. Just gets my dick hard thinking about it!
August 20th, 2008 at 7:45 am
why?
August 20th, 2008 at 8:22 am
I hope the bankers screw themselves I wonder in a year or so will they be jumping again from their office windows poetic justice when they do, merril lynch and the rest you guys are screwed
August 20th, 2008 at 8:38 am
Yep it is definately gonna fall #1
#2 it will be the best thing to straighten the mess out.
The sheeple will have to wake up then and realize the GUVment
has been lying to them all along especially the bankers!!!
People will learn how to depend on themselves or cease to exist!!!
August 20th, 2008 at 8:41 am
Yep, I’ve been a wachovia customer for about 5 years now.
Only until the last year did I get hit with “overdraft” fees when there was money in the bank. The overdraft fee would actually overdraft me. Went to the bank and the mindless robots working there repeated that the system works in a certain way and that there is nothing they could do.
I had my internet statements which clearly showed that there was money in prior to their “overdraft”, yet the branch manager was like a robot. Using psychological tactics and wording to not make it their fault yet having no true bearance to their claims. This happened again over the weekend and now its plain to see why.
They’re just trying to take as much people down for when they do.
Wachovia sucks my ballsnick…
August 20th, 2008 at 9:12 am
I have moved all of my accounts to a small hometown bank. Tis better to get hit by the tail of the beast, than it’s claws.
August 20th, 2008 at 9:24 am
BEAT the international bankers at their own game……..become debt free and financially independent.
http://www.becomericher.info
August 20th, 2008 at 9:40 am
JohnTheSavage, excellent plan of action. I have done the same, moving money to a small bank which did not gamble in subprime mortgages. I live in a big city.
As far as beating the bankers goes, check out Catherine Austin Fitts website, SOLARI.COM.
She worked in the Federal Housing Administration during Bush I. She knows how the system is rigged against us and how to fight this.
August 20th, 2008 at 10:05 am
I tried to post a few links to sites that rate banks. The spam monitor used on this forum blocked them. So from now on, I’ll post only one link since that seems to get through.
http://cheapogroovo.vox.com/li.....l-you.html
August 20th, 2008 at 10:08 am
The government has fixed it so you cant get your pay check directly in the mail, you MUST have direct deposit, therefor you MUST have a bank account against your will. What kind of bullshit is that? Someone explain that one to me?
August 20th, 2008 at 10:46 am
I emptied my savings account, withdrew all my money from my retirment and closed it; I keep all of it in a cash box at home. I deposit a minimal amount into my checking account, only what is needed to pay bills. Sometimes, I feel like this is too extreme and maybe I am being overly cautious, but then there’s this side of me that says, take your money out of the bank and it’s a strong gut feeling. The future of our financial system is uncertain; the times we live in are uncertain and I don’t want to take any chances losing my money. Does anybody else feel this way? Has anyone else taken the same extreme measures as I have? I would appreciate some feed back, please. Thank You
August 20th, 2008 at 10:54 am
Go with your gut. Thankfully (i suppose) I don’t really have any investments or major savings cause I’m still young (i suppose.) Just a $4000 IRA that I don’t really care if I lose or not. I have it to keep my dad happy. LOL.
August 20th, 2008 at 11:01 am
The financial collapse is part of the nwo plan to bring people to their knees and to beg the gov. for help. #11– go with the gut feeling, it’s always right.
August 20th, 2008 at 11:06 am
Withdrawing cash (U.S. Dollars) and hoarding it at home is a short-term plan with long-term consequences–you are assuming the dollar will maintain a useful value. You are completely overlooking the rate of inflation, not to mention the scarcity of commodities and other survival resources that will follow.
Buy yourself a good rifle and a shotgun after you pass your Hunter’s Education. Learn how to store and eat/rotate a 3-month and then a 1-year supply of food for your family. Then work on getting out of all debt that you have in U.S. Dollars. Learn about outdoor survival and how to garden.
These are fundamental skills that have been bred out of us over multiple generations in the public education system. Do not overlook their importance.
August 20th, 2008 at 11:13 am
Kittygiagirl,
The dollar, inevitably, will be worth nothing. I prefer buying gold and/or silver so that would be my recommendation to you. Precious metals will always maintain their value, despite the fact that the markets are manipulated by TPTB. A good supply of canned, dehydrated or freeze dried food is also a good idea, as well as water. Being prepared is different than being paranoid, especially with the psychotic neocon zionists that control every aspect of our lives. Peace.
August 20th, 2008 at 11:34 am
To kittygiagirl: You are insured to $100, 000 by the FDIC for your checking and savings. So you will not lose everything unless you are a hard working person who has several hundred thousand or a few million in the bank or investments (CD’s insured by FDIC. Brokerage accounts insured by SIPC Securities Investors Protection Corporation, this does not insure against loss due to any kind of financial risk, only solvency of the broker)
There is no doubt that the US economy is experiencing something interesting but, there are many vested interests in preserving the current system; for instance one right on this webpage is the presence of “Ads by Goooooooogle”. When you click on these Alex Jones InfoWars gets a cut and so does Google.
If we were headed for such a terrific monetary crisis why are so many people still earning money in dollars? and what about all of the assets people own that are valued in dollars? Who is going to pay the police and military? They will likely be paid in dollars.
I would be more concerned with stagflation and the current inability of financial institutions to raise interest rates because it would decrease the value of portfolios across the board…both bonds, because if interest rates go up the present value of bonds goes down, and likely stocks as investors percieve an increased cost of capital for borrowing and short sell for a period.
We will see what is going to happen in the coming days, there are many prospects of war in the mainstream. The US seems to have goals of enircling Russia with defense systems and the Russians do not seem to want to let that happen. There are ties between Russia, China, and Iran mainly due to the two former nations importing petroleum from the latter. We are living in turbulent times.
Sadly, after we consider all of the events unfolding it seems money is not so important anymore but rather, realizing that something is terribly wrong. This is likely the beginning of a NWO that is going to envelope the world as we know it. It does not mean the current power brokers will hold the keys to the new city but, if they do, hedge your bets.
This was a rant with no real direction but, perhaps it is better that way.
August 20th, 2008 at 12:00 pm
instead of hording your paper cash…
Buy Silver, its cheap right now.
DO-IT
August 20th, 2008 at 12:22 pm
At the beginning of August I heard from a high net worth friend who has a friend that is a portfolio manager on wall street, that the word is out amongst certain wall street insiders that the market is going to crash Sept. 29th Hmmm OK! A week ago I heard the same thing from a completely different source.
I was relating this info to another friend who directed me to information about a secret session of congress held back on march 18th…..the content of this session was “The imminent collapse of the U.S. economy” to occur in the fall of 2008.
Considering the status of most major financial institutions, the rumors coming from persons who work within that system, as well as such things as Jesse Ventura announcing he well not seek re-election and is moving his family to the jungles of Mexico, I would say that the message is all too clear!
People if you have not already been doing so as I have, start buying food and seed, get out of the populated areas if you can and tell as many people who have an interest in living to do the same. Then start pondering solution scenarios and discuss the possibilities. TAKE CHARGE! Out of this, solutions well present themselves and we well over come and defeat these assholes. Think outside the box, because resisting through carnal methods is already anticipated and well not work. I refer you to George Greens idea for a solution “Handbook for a New Paradigm” a free ebook found at:
http://www.nomorehoaxes.com/
August 20th, 2008 at 12:39 pm
#9 Thanks for the great link to imploding banks and lenders.
I currently bank with bank of america and they are showing signs of writedowns and what not. Should i take out my funds and put them in a smaller local bank? or do you guys think its fairly safe for a while atleast. I’m planing on pulling out 60% of my money and buying silver and gold. Buying silver and gold should be a decent idea, since im planing on moving to dubai and opening a trucking business there. I also was going to spend over 10 percent of my money on food and supplies for back up, incase anyting crazy happens, which i believe is on its way full speed.
If you guys have any suggestions or comments please do so. thanks a million!
August 20th, 2008 at 12:50 pm
kittyfiagirl I did the same thing last year I sold my condo just before things started visibly going bad and felt a little bad for they guy that bought it he took a 40,000 hit last year while I vacationed. I keep a heafty stash of cash in a safe in my RV now but also purchased food storage for a year it’s a cheap insurance policy for your life and cost about the same as my car insurance for three months that I’ve never used. I also make my own brad from the food storage to cycle though it and it smells and taste great. I have several guns and no need ot get more ammo. I purchased 500 watts for solar and a 400 watt windmill that I haven’t setup yet. I’m getting all the renwuables to test I think it may be a great market if we don’t have a great depression but then at least I can play my Xbox and watch office space. I’m getting into HAM radio I read the books but still need to take my armature broadcasters permit and purchase a mid range HAM. In case of an emergency it seems like the power grid stretches a long ways and our country ships a lot of coal from Wyoming to the East coast if the lines are cut or that one train rout is bombed I don;t think there is a stockpile of coal for the power plants. Renewable energy is more about security than payback people just look at it as a pay back and don’t consider freezing to death or how inconvenient it would be without power. I’m probably an extreme having wind, solar, food storage, minimum cash in the bank account and a small personal arms supply but I don’t really worry about the impending disaster that could happen it’s almost funny how F#$&#@ most people would be. I would think it would be easy to trim the population by half in three months of no food or power then there would be plenty of work for the remaining people to fix everything and the strong ones left over would be very busy. It’s like a huge company that needs to trim middle management that don’t do anything anyway. I guess George Bush wouldn’t be considered so stupid if he knew for a fact we would be screwed with out Iraq’s Oil or that if our power went down for a few days or food couldn’t be delivered people would die in a few days. With just in time delivery and our power grid running at 80% capacity we are walking a tight rope and having the ability to be self sufficient used to be the American way now it’s considered extreme to not over consume and be self sufficient.
August 20th, 2008 at 12:56 pm
TO #14 YOU MY FRIEND are RIGHT ON THE SPOT. That is EXACTLY what we are doing. Prepare for survival folks! You think it can’t happen???? BELIEVE ME.. IT CAN AND IT WILL.
Good Luck
August 20th, 2008 at 12:57 pm
They say this is “half” over. No. We are still in the top of the 1st inning. The more the government tries to fight the recession through bailouts and increased spending, the longer the recession will take.
August 20th, 2008 at 1:25 pm
3 rob Says:
August 20th, 2008 at 8:22 am
I hope the bankers screw themselves I wonder in a year or so will they be jumping again from their office windows poetic justice when they do, merril lynch and the rest you guys are screwed
—————- Ya, no. The top dogs undoubtedly have physical, precious metals to weather the storm, including shorts placed on the right stocks, in the optimum time frame, to make a killing when the System collapses. Rest assured. They’re far from being fools and losers. Too bad the same can’t be said of most Americans.
August 20th, 2008 at 2:30 pm
jeff, you and I and many here are somewhat prepared, whatever that means. There will be some unexpected turns to all this. What you have to be concerned with the most is other people. Most people are decent but there are more than enough who will go batshit, killing everyone in their path to survive. They do that already for no reason. You wont be able to tool around down the roads in your RV with solar panels on the roof. There will be gangs in the woods beside major roads shooting up vehicles and robbing those in them.
August 20th, 2008 at 3:16 pm
http://www.vimeo.com/moogaloop.swf?clip_id=1565381
August 20th, 2008 at 3:22 pm
kittygiagirl…YEP…I did what you did two years ago…been “cash and carry” every since. The last few times I went shopping (Walmart) I have noticed that virtually everyone was using cash…no checks, no cards…CASH. So it appears the cash hording is in full swing.
We ARE in the Summer of 1929 right now. That fateful summer the writing was on the wall (just like now), there were economists and social critics from all sides sounding alarm bells of an imminent collapse (just like now). The government and “Federal” Reserve made all the wrong moves (on purpose) to insure the collapse (just like now). The economy went over the cliff at least two years ago…it is just that the cliff is so high it is taking time to hit the bottom.
However I still think that Thermonuclear War between the US and Russia is option #1 for the Global Cabal (the owners) to get the desired worldwide chaos kicked off. Just like 9/11 was used to cover up the last recession (2000-2002) nuclear war will be used to shift the blame for the inevitable economic collapse this year.
August 20th, 2008 at 3:51 pm
Don’t worry, everyone. The government and the federal reserve (neither federal nor reserve) is going to get it right this time.
Really, don’t worry. Be happy
August 20th, 2008 at 4:16 pm
Today on MSNBC , Jim Kramer was on a rant . You say, so what else is new . He was livid because there was
a huge selloff of Fannie Mae and Freddie Mac . According to him this was purposeful and had to be forewarned knowledge for the elite investor . He said there is no way you can have a selloff of this magnitude when the word on the street was these mortgage lenders were on the mend . Rightly so , he advised the average person to pull completely out of the market because , (in his words ) there is obviously no one regulating fair trading . He was completely sincere and just short of saying this was an obvious fleecing of the small investor .
I know most people here are two steps ahead of this news . But , to hear it hit mainstream wall street news
is a good ( get busy ) kick in the pants . Like you all I have prepared as much as is reasonable . I just hope everyone realizes how predatory and mean it is going to get . If you have been in natural disaster , that lasted more than two weeks . Then, you too understand how quick people lose their goodwill .
August 20th, 2008 at 4:29 pm
It’s time to change the system, wrote a chapter that tells how. It is unedited buy still will get the message we all need to know. How to change the system. Chapter 10 on my blogs tells why and how, we need to. http://www.myspace.com/unitedmajority Please, you will be glad you saw it. Mark Gasser
August 20th, 2008 at 5:01 pm
Just remember, the Lord Jesus Christ died for our sins and He will save all who come to Him.
August 20th, 2008 at 5:20 pm
Hahaha, “god” will not save you.
August 20th, 2008 at 5:34 pm
If anyone wants a great show that is a good example of what chaos in the states would be like after a nuclear war watch Jericho on CBS. This show was yanked very fast. The powers to be said that the ratings were too low, but us infowarriors know better.
Peace.
August 20th, 2008 at 5:35 pm
Just google jericho
August 20th, 2008 at 6:01 pm
Tell the employees of these banks to keep voting neo-con…
August 20th, 2008 at 6:17 pm
30 sharingtruth.org Says:
August 20th, 2008 at 5:01 pm
Just remember, the Lord Jesus Christ died for our sins and He will save all who come to Him.
—————- We know that. What’s your point? The US economy is still going to crash and burn.
August 20th, 2008 at 7:08 pm
Hey Jesus freaks,
Ya have a choice. There are 3 bad boys gonna rob ya and rape ya.
Your choice is ……………….
The bible and preaching to be saved by god……………………….
A semi auto .45 to shoot them with……………………..
You can only chose one, and yes ya get NOOOOO vaseline…………….
August 20th, 2008 at 7:32 pm
Oh well; let me get my can goods and dry food ready for the long haul as they will be rationing our food soon!! As they will eventually shut down the banks and have martial law!! As they will be saying, “”We need a more surer way of insuring that this never happens again!! We need a North American Union to protect us from these internal nation state breakdowns!! For we need to compete with the European Union and become as wealthy as she is!!”" While in all actuality; the EU is starving and having their citizens in economic chaos also!! BUT DON’T WORRY!! THE GREAT GOD OF HEAVEN WILL BRING TOTAL CHAOS AND GREAT PLAGUES UPON THE WHOLE ANTICHRIST BEAST CHIPPED WORLD after they have almost killed all of HIS CHILDREN!!!
August 20th, 2008 at 7:38 pm
hahaha love the name KILLUMINATI
August 20th, 2008 at 8:11 pm
Isn’t Merrill Lynch the US Treasury’s broker? I could be wrong… Wouldn’t that make it OUR broker? Sounds like THEY (har) are mismanaging OUR account over at the Treasury. Hmmm.
This is what happens when banks use abandoned property and make deals with future interest. What’s the collateral to these loans gone bad? Nobody gets money for free. Not even the US Corporation. What’s the guarantee on these pool grants?
I wouldn’t pull out of the system…I’d learn how it works and take control!! I refuse to be the cause of this collapse any onger. I think I’ll just use the system to my advantage instead.
Some secrets were meant to be revealed.
August 20th, 2008 at 9:54 pm
The really hairy part about the ensuing economic collapse is that there won’t any longer be the incentives for an economic recovery in the primitive context of currently defined, “capitalism”. When it’s sufficiently recognized that all the destructive economic elements have long been evolving right beneath our noses all along, there will hardly be any inspiration to return to what brought on all the discrediting fiscal shenanigans in the first place. “Whatever the market will bear”, but all the economists have no idea what actually constitutes a “market”. And, “whatever” sounds just a tad too irresponsible a notion to hold to any accountable measure. “Justice” to one can verge on “criminal” to another. And in fact, “financial independence” is actually a virtual contradiction of terms at heart. No wonder it will too soon and suddenly be the end of tenably marketable time.
“And when you see the abomination that causes desolation [standing where it ought not*], know it is at the doors.”
Daniel/Jesus
* We The People living in the land of the free and home of the brave, with liberty and justice for all. The very first nation on earth established upon principles most akin to the ‘Holy Of Holies’.
August 20th, 2008 at 10:10 pm
Let them fall. Does anyone remember the May issue of Mortgage Bankers as few years back telling banks and mortgage companies to write and HIDE FROM AUDIT known to be bad loans. Mide Johanns was in it up to his beady little eyeballs at the time. The basis premise was to write overvalue mortagages to otherwise unfinancable loan applicants the get the proprty back for pennies on the buck when the stuff hit the fan. The last thing the US needs is these companies and their crooked leadership bailed out. Remember Wisconsin goosing Wachovia to make RE loans to illegal aliens criminally? Let the corrupt fall–maybe new ones will play staight.
August 20th, 2008 at 10:31 pm
Please watch this video I made and email 10 people.
http://posmedprod.webs.com/alexjonescensored.htm
August 20th, 2008 at 10:59 pm
no stable thing in this world
BUT JESUS IS ALLWAYS STABLE so INVEST IN JESUS
nothing can shake him change him nor good report or bad
consitter JESUS and visit http://www.repentamerica.com sobeit
August 21st, 2008 at 12:09 am
Thanks for all your feedback guys! I do realize the dollar will be of no value soon, that is why I closed most of my accounts out and keep a minimal amount in my checking out to pay bills. I have paid off all my credit cards and have one more to go. Currently, I am stocking up on canned goods, supplies and water. My next step is to purchase a gun and ammo. I will be using about 10% of this money to buy more supplies and guns!! Just don’t want to be a REGISTERED gun owner because that is a sure excuse for the troops to come a knockin’ on my door when martial law is encated. Trying to figure out when the next gun show is coming to town. Again, thinks everyone for your feedback.
August 21st, 2008 at 3:19 am
Grass roots psy-op- print and forward; http://www.hasbro.com/games/ki.....dollar.pdf
August 21st, 2008 at 8:19 am
NSA Security Officer: We Should Just Kill These People
As pretty as she is, I can honestly claim that a “disgusting human” is Robin Meade,
Empowered, the media shall be rounded up, sterilized, and not allowed to breed.
We have seen Larry “the fairy” Silverstein on video telling the demolition tem to “pull it”
The same way they planned the other WTC buildings so Robin…my dear…you’re FULL OF IT!
Someone in NYC, whom lost a family member or good friend in this murderous plot,
Should catch one of your own somewhere in that shitty place and give them all they’ve got.
The best thing that could happen is that Vladimir turned NYC back to ash and dust.
Never was anyone born in that sewer that any human could believe or ever trust.
The same applies to all your cohorts, these weasels of repetitive lies,
If killed by an “accident” as these things happen, oh how nobody cries.
You hyave all been marked, for the criminals you choose to be,
Easy to access, a tier climbed for success, the people should set them free.
To Americans I say, perhaps your relative needs that job they have and their career,
OPPORTUNITY when each one falls, as a vacancy is there, like between their ears.
All make wonderful targets, not humans that contribute or assist in any way,
“Let The Bodies Hit The Floor” and treat them in just the sad American Way.
Women and children poisoned so this scam and scheme of country could begin,
Every one is just a loser, some looser than others, yet none shall ever win.
The best appropriate way to deal with a nasty evil deceptive Yankee LIAR,
Is to nail the doors shut, wait outside with rifle, somebody whisper “Fire”!
The schools, traveled to and fro, and the homestead a good place to find,
Vengeance unto those whom lie and try to help keep you dumb and blind,
They think they are so slick, just somewhere way down low to be true,
Swampy and quite nasty, their wombs so much like the English loo.
If they believe what they say in America today, bravery never to be found,
Come and tell me to my face, film as I slap your head to spin around.
Any admiration or respect I ever imagined I had for a soul-less slut like you,
Was replaced by your sad disgrace, Madame Monkey of the Western Zoo.
You creatures deserve the worst of fate, the call sent out for JUSTICE to end your lies,
A drive-by, something in your food, whatever it takes to feed a lot of flies,
Maggots at their birth, much like any scourge that spews this fraud and calls it news.
The time has passed you Yankee ASS, and the dark side you did choose!
August 21st, 2008 at 9:52 am
…Ah-bdi… Whatshowfiat !?!
August 21st, 2008 at 11:15 am
Anyone who wants to get their ugly worthless paper notes out of their sight just contact me here. You can send them to me and I will make good use of them.
Sam, what the fuck is wrong with you? Just stop it you goofy loon.