The Great Deception -> Banks - 5 Large - Now Commercial Holding Cos

Banks - 5 Large - Now Commercial Holding Cos, It's another con game they're playing!

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jofortruth	Posted: Sep 23 2008, 03:24 PM
Administrator Group: Admin Posts: 31,703 Member No.: 1 Joined: 1-May 07	Goldman Sachs and Morgan Stanley Change their Status - Got something to hide? NOTE: They are the only 2 large investment bankers standing after the crisis (oh they now call themselves 'Commercial Holding Companies'). Don't you find this interesting? It's as if this was intended all along, IMO. Oh also, by having this new 'Commercial Holding' status, once the big bailout happens they will have access to the feds emergency loan program should they have a problem going forward. How convenient! Can you say that Paulson has a bit of a "conflict of interest"? I wouldn't think of deposting my money in either of these banks, because the people who run them are cheats!

jofortruth

Posted: Sep 30 2008, 10:45 AM

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I heard Bill Clinton say the following in response to the public calling their Congressmen complaining about the greed of Wall Street, and how they're to blame for this crisis. He doesn't even address the issue, but said:

QUOTE

There is no more Wall Street, the last 2 investment banks are now commercial holding companies - Morgan Stanley and Goldman Sachs.

I think someone should ask Bill what his role is in all of this, and why he is a current talking head for the elite during this crisis (as Mr. Trilateralist), and using doublespeak and off topic comments like this???????

Bill Clinton, during his administration, did things that helped to lead up to this crisis. SO HE IS AN ACCOMPLICE, just like Bush and now Obama! THESE MEN ARE FAILURES AND HAVE ALL HELPED TO DESTROY THIS NATION BY BEING PUPPETS OF THE ELITE BANKERS WHO HAVE TAKEN OVER! THEY ALL MUST BE HELD ACCOUNTABLE ONE DAY! EVERY LAST ONE OF THEM, INCLUDING MANY IN CONGRESS!

His comment above misses the point, which is not unexpected when you're a talking head for the elite criminals. They typically use double talk and confusing talk to confuse the public. Now it's not as easy for them to do because we are more clued into their childish games. They're only making themselves look stupid now, and losing credibility (as if some of them ever had any).

The point BILL is this: It doesn't matter if you think Wall Street is gone or not. Many of these firms including your 2 remaining buddy firms were engaged in fraud with these bogus financial instruments, and even if they are shut down now, THEY SHOULD BE THOROUGHLY INVESTIGATED AND BROUGHT TO JUSTICE.

THESE TYPES HAVE TYPICALLY MERGED MEGA TIMES TO GET RID OF ANY TRAILS OF THEIR CRIMES. NOW THEY'VE DONE IT AGAIN. INVESTIGATE EVERY ONE OF THEM, AND NOT ONLY THOSE WHO ARE TOTALLY SHUT DOWN, BUT THE 2 LEFT STANDING ALSO. I think you will find some very interesting information, and just how long they've been engaged in it.

I"m SORRY BUT EVEN I GET THE POINT THAT THE FOX IS IN THE HENHOUSE AGAIN AS A "FIXER" JUST LIKE THEY WERE IN "CREATING THE PROBLEM".

THIS IS DISGUSTING, AND TOTALLY CRIMINAL! SOME HEADS NEED TO ROLL AND TODAY, AND PAULSON NEEDS TO BE FIRED FROM ANY ROLE IN BEING A FIXER OF THIS CRISIS SINCE HE HAD A ROLE IN CREATING IT!

-------------------------------------------------------------------------------------------

WSJ Podcast 9/29/08
http://www.mefeedia.com/entry/the-wall-str...29-08/11713891/

Also in this podcast the following was said:

"Wall Street bailout, funny term, because Wall Street doesn't exist anymore."

What is happening in this country and worldwide was a plan many years ago, and now it's happening before our eyes. This is just one other PROOF IN THE PUDDING statement.

jofortruth	Posted: Sep 30 2008, 10:51 AM
Administrator Group: Admin Posts: 31,703 Member No.: 1 Joined: 1-May 07	Goldman, Morgan Switch To Bank-Holding Firms http://www.cnbc.com/id/26828495/site/14081545/ http://www.news.com.au/business/story/0,27...373-462,00.html FAQs on Morgan-Goldman changes http://www.usatoday.com/money/industries/b...an-change_N.htm

jofortruth

Posted: Sep 30 2008, 11:02 AM

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US banks make shock status switch
http://news.bbc.co.uk/2/hi/business/7628578.stm

Where have all the investment bankers gone? Morgan, Goldman switch to bank holding biz
http://www.etruth.com/Know/Business/Story.aspx?ID=462444

QUOTE

BY MARTIN CRUTSINGER

AP Economics Writer

WASHINGTON -- The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks -- Goldman Sachs and Morgan Stanley -- to change their status to bank holding companies.

The Fed announced that it had approved the request of the two investment banks. The change in status will allow them to create commercial banks that will be able to take deposits, bolstering the resources of both institutions.

The change continued the biggest restructuring on Wall Street since the Great Depression.

Shares of both institutions had come under pressure ever since the bankruptcy filing last week by investment bank Lehman Brothers and the forced sale of investment bank Merrill Lynch to Bank of America.

Investors feared that the last remaining independent investment banks would not be able to survive in their current form. There had been speculation that both institutions would be acquired by commercial banks, whose ability to take deposits would give them a stable source of funding.

The decision by the two giants of finance to get approval from the Fed to change their own status represented another dramatic development in one of the most turbulent periods in Wall Street history.

In the surprise announcement late Sunday, the central bank said that to provide increase funding support to the two institutions during the transition period, they would be allowed to get short-term loans from the Federal Reserve Bank of New York against various types of collateral.

The Fed said its action would take final effect after a five-day waiting period required under law.

The decision means that the Goldman and Morgan Stanley will be able not only to set up commercial bank subsidiaries to take deposits, giving them a major resource base, but they will also have the same access as other commercial banks to the Fed's emergency loan program.

After the collapse of Bear Stearns and its forced sale to JP Morgan Chase last March, the Fed used powers it had been granted during the Great Depression to extend its emergency loans to investment banks as well as commercial banks. However, that extension was granted on a temporary basis.

But as commercial banks, Goldman Sachs and Morgan Stanley will have permanent access to emergency loans from the Fed, the same privilege that other commercial banks enjoy.

The action by the Fed's board of governors in Washington came on a day when the Bush administration continued to campaign for quick congressional approval of its request for authority to use $700 billion to purchase a mountain of bad mortgage debt held by financial companies. The effort represented the boldest action yet aimed at stabilizing chaotic financial markets.

Democrats in Congress said they would demand provisions in the bailout measure to protect people in danger of losing their homes as well as seeking to cap executive compensation at firms who get to unload their bad mortgages debt onto the government. But the proposal was expected to win quick congressional passage because both parties are concerned about the adverse reaction in financial markets should the measure look like it was being delayed.

jofortruth	Posted: Sep 30 2008, 11:07 AM
Administrator Group: Admin Posts: 31,703 Member No.: 1 Joined: 1-May 07	BOTTOM LINE: THEY SCREW US, THEN THEIR FED BUDDIES ALLOW THEM TO SCRAMBLE TO HIGH GROUND. GET RID OF THE CORRUPT AND COMPLICIT FEDERAL RESERVE, AND THEIR BANKER BUDDIES WHO ACT LIKE SPOILED BRATS!

jofortruth

Posted: Oct 2 2008, 08:16 PM

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QUOTE

There is no more Wall Street, the last 2 investment banks are now commercial holding companies - Morgan Stanley and Goldman Sachs.

I think someone should ask Bill what his role is in all of this, and why he is a current talking head for the elite during this crisis (as Mr. Trilateralist), and using doublespeak and off topic comments like this???????

His comment above misses the point, which is not unexpected when you're a talking head for the elite criminals. They typically use double talk and confusing talk to confuse the public. Now it's not as easy for them to do because we are more clued into their childish games. They're only making themselves look stupid now, and losing credibility (as if some of them ever had any).

The point BILL is this: It doesn't matter if you think Wall Street is gone or not. Many of these firms including your 2 remaining buddy firms were engaged in fraud with these bogus financial instruments, and even if they are shut down now, THEY SHOULD BE THOROUGHLY INVESTIGATED AND BROUGHT TO JUSTICE.

THESE TYPES HAVE TYPICALLY MERGED MEGA TIMES TO GET RID OF ANY TRAILS OF THEIR CRIMES. NOW THEY'VE DONE IT AGAIN. INVESTIGATE EVERY ONE OF THEM, AND NOT ONLY THOSE WHO ARE TOTALLY SHUT DOWN, BUT THE 2 LEFT STANDING ALSO. I think you will find some very interesting information, and just how long they've been engaged in it.

I"m SORRY BUT EVEN I GET THE POINT THAT THE FOX IS IN THE HENHOUSE AGAIN AS A "FIXER" JUST LIKE THEY WERE IN "CREATING THE PROBLEM".

THIS IS DISGUSTING, AND TOTALLY CRIMINAL! SOME HEADS NEED TO ROLL AND TODAY, AND PAULSON NEEDS TO BE FIRED FROM ANY ROLE IN BEING A FIXER OF THIS CRISIS SINCE HE HAD A ROLE IN CREATING IT!

jofortruth	Posted: Oct 27 2008, 02:20 PM
Administrator Group: Admin Posts: 31,703 Member No.: 1 Joined: 1-May 07	http://freedomfighterradio.net/wearechangegeorgia/?p=400 So, when is Paulson, Goldman Sachs and Jp Morgan going to be investigated and WRONG made RIGHT with these individuals? Henry Waxman, why isn't your committee going after the BIG FISH rather than just the GUPPIES?

jofortruth

Posted: Oct 27 2008, 02:45 PM

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Goldman Sachs Bribed Senate To Pass Bailout Bill

QUOTE

How much bribe money does it take to transfer $700 Billion taxpayer dollars to Wall Street's elite?

GOLDMAN SACHS CONTRIBUTIONS:
Obama, Barack (D-IL) $691,930
Clinton, Hillary (D-NY) $468,200
Romney, Mitt � $229,675
McCain, John (R-AZ) $208,395
Himes, Jim (D-CT) $114,748
Giuliani, Rudolph W � $111,750
Dodd, Christopher J (D-CT) $105,400
Edwards, John (D) $66,450
Specter, Arlen (R-PA) $47,600
Emanuel, Rahm (D-IL) $32,950
Reed, Jack (D-RI) $30,100

How much money did your Represenative get from Big Bankers to look the other way and pass a bill that the American people clearly do not want?

jofortruth	Posted: Oct 27 2008, 03:07 PM
Administrator Group: Admin Posts: 31,703 Member No.: 1 Joined: 1-May 07	Is this the U.S. Congress or the Board of Directors at Goldman Sachs! Dennis Kucinich http://dailybail.com/home/video-dennis-kuc...ongress-or.html Well, Congress! Since you guys think you're so tough, why aren't you investigating these guys? Have you been neutered or something? The crimes of this administration and Paulson (and many others) is horrendous, yet you sit there doing nothing??????????

jofortruth	Posted: Apr 16 2009, 10:14 AM
Administrator Group: Admin Posts: 31,703 Member No.: 1 Joined: 1-May 07	JPMorgan Chase earns $2.1 billion http://money.cnn.com/2009/04/16/news/compa...sion=2009041608 So why did they take BAILOUT money?

jofortruth	Posted: Oct 10 2009, 11:15 PM
Administrator Group: Admin Posts: 31,703 Member No.: 1 Joined: 1-May 07	A MUST HEAR VIDEO! THE ARROGANCE OF JAMIE DIMON, JP MORGAN CHASE IS OVER THE TOP! LISTEN TO MARCY KAPTUR TALK ABOUT THIS SCUMBAG! LISTEN TO THEM SAY WHY THE LARGE BANKS CHANGED THEIR STATUS THIS PAST AUGUST 2009: http://z4.invisionfree.com/The_Great_Decep...?showtopic=7405 This man says he had his best year in 2008, WHILE YOU WERE LOSING YOUR HOME, PENSION AND JOB TO THESE THIEVES. ARREST THIS MAN AND ALL OF HIS BUDDIES AND NOW!

jofortruth

Posted: Nov 15 2010, 11:05 AM

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This is interesting - The big banks become HOLDING COMPANIES, then their buddies in the Senate pass legislation to redefine Holding Company and have Holding Companies overseen by the Federal Reserve? How convenient is that?

See Dodd-Frank Wall Street Reform bill Hr 4173 - Section 1301:
http://www.govtrack.us/congress/bill.xpd?b...173&tab=summary

QUOTE

Section 1301 -

Amends the Bank Holding Company Act of 1956 (BHCA) to redefine bank holding company and to prescribe the treatment of industrial loan companies, savings associations, and certain other companies in order to effectuate consolidated supervision of certain financial companies by the Federal Reserve Board. Requires such companies to register as bank holding companies. Requires an entity that is subject to the stricter prudential standards under this Act to establish a special purpose intermediate holding company ("section 6 holding company") if such entity controlled shares or engaged in activities that did not comply with the activity or investment restrictions on financial holding companies prescribed by the Federal Reserve Board. Prescribes restrictions on the activities of such an entity and of a section 6 holding company, including: (1) transactions with affiliates; and (2) certain tying arrangements. Sets forth corporate governance requirements, including one that at least 25% of the members of the board of directors of a section 6 holding company, and each subsidiary of such company, be independent of the parent company of the section 6 holding company and any subsidiary of such parent company. Requires a company that controls a section 6 holding company to serve as a source of financial strength to such subsidiary

jofortruth	Posted: Oct 1 2011, 05:50 PM
Administrator Group: Admin Posts: 31,703 Member No.: 1 Joined: 1-May 07	Bank Holding Company Supervision Manual: http://www.federalreserve.gov/boarddocs/su...ual/bhc/bhc.pdf

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