Theft is Legal for Big Banks – and Your Money Will Never Be Safe

Web of Debt blog / By Ellen Brown

The new rules for keeping too-big-to-fail alive: use creditor funds, including uninsured deposits, to recapitalize failing banks.

April 29, 2013  | “[W]ith Cyprus . . . the game itself changed. By raiding the depositors’ accounts, a major central bank has gone where they would not previously have dared. The Rubicon has been crossed.”

—Eric Sprott, Shree Kargutkar, “ Caveat Depositor”

The crossing of the Rubicon into the confiscation of depositor funds was not a one-off emergency measure limited to Cyprus.  Similar “bail-in” policies are now appearing in multiple countries.  (See 

Have We Reached A Tipping Point In The Financial System?

The DAILY SHEEPLE says:

“March and April 2013 may go down in history as the tipping point for the western financial system.

We have already seen:

• Lehman Brothers and many other financial firms collapse.

• $700 Billion in TARP funds arranged by banking insiders for banking insiders at the expense of US taxpayers.

The mattress safe – the latest way to bank with confidence

Europeans are a stone’s throw across the pond and what happens there eventually, like the Beatles, happens here. Many in the Euro-zone are asking each other and themselves:

“Is your money safe in the bank? Obviously not if you deposited large sums in Cyprus – where the decision to raid savings accounts has rung alarm bells in other countries teetering on the bank bailout high-wire,” posts Giles Tremlett of the UK’s Guardian News.

How & Why the Big Banks’ Lobbyists Killed Foreclosure Mitigation

BIG BANKS OWN CALIFORNIA TOO
By Lee Fang, October 8, 2011

As the 99 Percent Movement takes shape across the country, citizens are demanding that Congress represent the public interest instead of the whims of bankers and big corporations. For instance, after demanding and receiving massive bailouts, Wall Street banks successfully lobbied Congress to crush any serious effort to mitigate the foreclosure crisis. The spectacular bank lobbying coup in Washington prompted Sen. Dick Durbin (D-IL) to remark that the banks “frankly, own the place.” [read more on NationofChange.org].

And the answer to the $10 million question…. Whose fault is that, Dick? Tic toc, tic toc….

Part II – The Elites will Eat Their Own: Full-Blown Civil War Erupts On Wall Street

Part II:  Full-Blown Civil War Erupts On Wall Street: As Reality Finally Hits The Financial Elite, They Start Turning On Each Other

By David DeGraw

Continuing from Part I on DEADLY CLEAR:

You can read the suits filed against each individual bank here. For some more information read Bloomberg: BofA, JPMorgan Among 17 Banks Sued by U.S. for $196 Billion. Noticeably absent from the list of companies being sued is Wells Fargo.

And the suits just keep coming…

BofA sued over $1.75 billion Countrywide mortgage pool

Bank of America Corp (BAC.N) was sued by the trustee of a $1.75 billion mortgage pool, which seeks to force the bank to buy back the underlying

RSN: Austerity: The Wrong Prescription

 ”…the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.”  Take over the mortgages – stupid! SEIZE MERS.

Austerity: The Wrong Prescription

By Carl Gibson, Reader Supported News
09 August 11

Reader Supported News | Perspective

f you were a patient in intensive care, sick and in pain, what would you say to a doctor whose only recommendation was cutting off your blood supply, meals and therapy, and redirecting your pain medicine to another patient who was already healthy and well? Would you follow your doctor’s orders, or sue them for malpractice?