FDIC Remains Fraudulent and US Public Remains Clueless

Jan 2011
3,768
452
Yesod
#2
Impotent Political Pundits

"Impotent Political Pundits"

"FDIC Remains Fraudulent and US Public Remains Clueless"
Lodged an inquiry complaint with my congressman who replied after some time with a voice mail that a proposal had been raised to address the discrepancy but no action has been taken.
 
Jan 2011
3,768
452
Yesod
#3
Security of Risk

"Security of Risk"

"Impotent Political Pundits"
Lodged an inquiry complaint with my congressman who replied after some time with a voice mail that a proposal had been raised to address the discrepancy but no action has been taken.
"The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, up to $250,000 per depositor per bank as of January 2012."

Anyone care to guess why FDIC is fraudulent?
 
Jan 2011
3,768
452
Yesod
#4
A Legitimate Answer

"A Legitimate Answer"

"Security of Risk"
Anyone care to guess why FDIC is fraudulent?
*Gramm - Weights and Measures : Bliley - Captain Asshole : Leach - Leech*

"The Gramm–Leach–Bliley Act (GLB), also known as the Financial Services Modernization Act of 1999, (Pub.L. 106-102, 113 Stat. 1338, enacted November 12, 1999) or the Citigroup Relief Act[1] is an act of the 106th United States Congress (1999–2001). It repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company. With the passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate."

"Federal Deposit Insurance - Items Not Insured
Only the above types of accounts are insured. Some types of uninsured products, even if purchased through a covered financial institution, are:[42]
* Stocks, bonds, mutual funds, and money funds
* Insurance and annuity products, such as life, auto and homeowner's insurance."



*Critical Deception*

FDIC was sound underwriting of commercial deposits, because Glass Steagall Act assured that deposited funds were not being used for speculation, as were Investment banking practices.

When commercial banks were consolidated with investment banks, when investment banks collapsed, the commercial banks went with them.


*Crimes and Malfeasance Ignored*

There is a revolving door of lawyers between the Department of Justice and the financial institutions, such that they are beyond prosecuting themselves.

Only the Senate has the authority to initiate impeachment proceedings and they are beyond incriminating themselves for their own domestic terrorism.
 
Jun 2011
10,624
3,247
In a better place than u
#5
I'm cool with the FDIC. They make sure I don't lose my savings, and it doesn't cost taxpayers one zinc cent.
 
Jan 2011
3,768
452
Yesod
#6
Government Imbeciles Facilitating Private Sector Criminals

"Government Imbeciles Facilitating Private Sector Criminals"

I'm cool with the FDIC. They make sure I don't lose my savings, and it doesn't cost taxpayers one zinc cent.
When an investment bank is tied to a commercial bank and the investment bank collapses taking the commercial bank down with it, such that the US government pays out enormous sums to cover commercial deposits, it does cost the taxpayer plenty.

The reason that FDIC was able to underwrite commercial bank deposits is because the deposits were not being used for speculation.

That was set up after the 1929 stock market crash, in 1933, when Glass-Steagall Act separated commercial and investment banks, which was a pretext for the underwriting.

FDIC was not and is not indemnified to cover the loss of even one cent in commercial deposits when tied to investment banks!
 
Jan 2011
3,768
452
Yesod
#7
Cron At Non Issue of Substantive Legal Claims

" Cron At Non Issue of Substantive Legal Claims "

Does anyone else believe that consolidation of commercial and investment bank assets violates FDIC underwriting ?

"Government Imbeciles Facilitating Private Sector Criminals"

When an investment bank is tied to a commercial bank and the investment bank collapses taking the commercial bank down with it, such that the US government pays out enormous sums to cover commercial deposits, it does cost the taxpayer plenty.

The reason that FDIC was able to underwrite commercial bank deposits is because the deposits were not being used for speculation.

That was set up after the 1929 stock market crash, in 1933, when Glass-Steagall Act separated commercial and investment banks, which was a pretext for the underwriting.

FDIC was not and is not indemnified to cover the loss of even one cent in commercial deposits when tied to investment banks!
Federal Deposit Insurance Corporation - Wikipedia, the free encyclopedia
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation operating as an independent agency created by the Banking Act of 1933. As of August 2014, it provides deposit insurance guaranteeing the safety of a depositor's accounts in member banks up to $250,000 for each deposit ownership category in each insured bank.
...
The FDIC receives no congressional appropriations — it is funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earnings on investments in U.S. Treasury securities.
...
Institutions insured by the FDIC are required to place signs at their place of business stating that "deposits are backed by the full faith and credit of the United States Government."[3]
 

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