Who Will Bail Out the Banks Next Time? YOU!

Are your deposits safe in banks? No.

Why? It's called “bank bail-in.” Bail-in allows failing institutions, including banks, to recapitalize by taking part of your money from your accounts, etc., with no recourse. Go to your computer and type in “bank bail-in.” Scary? It should be.

By implementing bail-in, the Dodd-Frank Act of 2010 claims to support taxpayers by ending bailouts. The act allows the Federal Deposit Insurance Corporation to recapitalize a failing institution by taking your money -- deposits -- to bail them out. Credit unions are exempted. This goes deeper, and includes global financial institutions, because the financial system is intertwined.

Did you know Bank of America and Chase have more unsecured debt obligation than the gross national product of America? Everything stated above and much more that you must know can be found under “bail-in.” If Congress does not act soon to restore the Glass-Steagall Act, then say goodbye to money.

Arthur Miller

 

 

Source:  http://www.times-standard.com/letters/ci_25474265/beware-bank-bail-hazard

Futures Pop on B of A Report

10 Year Treasury Futures popped briefly after Reuters News reported that Bank of America will need $34 billion in new capital based on US government stress test results.

The futures backed off a little and were trading at 121-03 at 10:20 pm CDT.

Bank Stocks - Look Out!!

Bank of America Quadruples! Is it a safe bet?

Bank of America on Monday disappointed investors by reporting a big increase in troubled loans, even as its purchase of Merrill Lynch helped first-quarter profit more than double CNBC article.

All I have been seeing on tv lately is these slick salesy bank CEOs bragging on TV about how they are making money and that all is well. And the public believes them. Look at how well Bank of America has done. Up to 12 from under 3? Look at where the big banking gains are coming from. From TRADING! Not lending, not doing what the TARP money was there for. They are using OUR MONEY to play the market. Why does the government allow this?

Beware! Should the markets again fall or their "marked-to-market" profits begin to fall apart, will Barack and Ben still be there with an open checkbook? Probably.