Comments on: Today’s AYFKM? Award Goes To Ben Bernanke… http://logisticsmonster.com/2009/08/21/todays-ayfkm-award-goes-to-ben-bernanke/ Fri, 30 Dec 2011 14:47:58 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Grail Guardian http://logisticsmonster.com/2009/08/21/todays-ayfkm-award-goes-to-ben-bernanke/comment-page-1/#comment-23479 Grail Guardian Sat, 22 Aug 2009 12:41:14 +0000 http://logisticsmonster.com/?p=8077#comment-23479 Can we try Bernanke and Paulson for treason yet? Can we try Bernanke and Paulson for treason yet?

]]> By: Dug http://logisticsmonster.com/2009/08/21/todays-ayfkm-award-goes-to-ben-bernanke/comment-page-1/#comment-23376 Dug Fri, 21 Aug 2009 22:52:01 +0000 http://logisticsmonster.com/?p=8077#comment-23376 PM... yep, I'm with you... any spare cash I have these days goes to silver, food stores, and ammo. PM… yep, I’m with you… any spare cash I have these days goes to silver, food stores, and ammo.

]]> By: Practical Madman http://logisticsmonster.com/2009/08/21/todays-ayfkm-award-goes-to-ben-bernanke/comment-page-1/#comment-23374 Practical Madman Fri, 21 Aug 2009 22:39:14 +0000 http://logisticsmonster.com/?p=8077#comment-23374 Bernanke speaks and the Dow goes crazy. How more manipulated can things be? How does this make any sense? Job numbers are "worse than expected" and the Dow goes up, consumer spending is "worse than expected" and the Dow goes up, Bernanke speaks and the Down goes crazy. Just how stupid do "THEY" think we are. I would not invest in this fixed horse race for anything in the world, I make my investments into FOOD AND AMMUNITION! Bernanke speaks and the Dow goes crazy. How more manipulated can things be? How does this make any sense? Job numbers are “worse than expected” and the Dow goes up, consumer spending is “worse than expected” and the Dow goes up, Bernanke speaks and the Down goes crazy. Just how stupid do “THEY” think we are. I would not invest in this fixed horse race for anything in the world, I make my investments into FOOD AND AMMUNITION!

]]> By: Dug http://logisticsmonster.com/2009/08/21/todays-ayfkm-award-goes-to-ben-bernanke/comment-page-1/#comment-23357 Dug Fri, 21 Aug 2009 21:05:43 +0000 http://logisticsmonster.com/?p=8077#comment-23357 <blockquote>Now why would that be? Could it be because F.D.I.C. is broke and we are on the verge of the commercial real estate bubble implosion and many more banks are going to sink when that happens?</blockquote> Several months ago, we moved away from a large regional bank to a smaller, well-capitalized bank because the large regional bank had accepted TARP money. They asked us why and I told them. Their response was that they were a) forced to take the TARP funds and b) they were forced to take over failing banks in the region by the FDIC which caused their solvency picture to worsen. It is clear that the rate of bank failures is picking up and will do so further once we have a collapse in commercial real estate and further defaults on securitized credit card debt, as more and more people lose their jobs. The FDIC is running out of "safe havens" to squirrel away bad assets. Market Ticker does a great job of explaining a good bit of it. This to me is significant: <blockquote>We've utterly <strong>failed</strong> to perform the necessary clearing of the credit system of bad assets. Instead you, along with Treasury and Congress, have chosen to paper over those bad assets and hide them.</blockquote> Again... the FDIC is running out of places to hide the assets... so they have to bring more equity firms into the banking realm... which they have historically resisted. Apparently, J. Christopher Flowers (J.C. Flowers and Company... previously Goldman Sachs... Harvard University), along with allies from the Carlyle Group, has been pushing Treasury and the Fed in this direction for months. This article explains it: http://www.naomiklein.org/node/922

Now why would that be? Could it be because F.D.I.C. is broke and we are on the verge of the commercial real estate bubble implosion and many more banks are going to sink when that happens?

Several months ago, we moved away from a large regional bank to a smaller, well-capitalized bank because the large regional bank had accepted TARP money. They asked us why and I told them. Their response was that they were a) forced to take the TARP funds and b) they were forced to take over failing banks in the region by the FDIC which caused their solvency picture to worsen.

It is clear that the rate of bank failures is picking up and will do so further once we have a collapse in commercial real estate and further defaults on securitized credit card debt, as more and more people lose their jobs. The FDIC is running out of “safe havens” to squirrel away bad assets.

Market Ticker does a great job of explaining a good bit of it. This to me is significant:

We’ve utterly failed to perform the necessary clearing of the credit system of bad assets. Instead you, along with Treasury and Congress, have chosen to paper over those bad assets and hide them.

Again… the FDIC is running out of places to hide the assets… so they have to bring more equity firms into the banking realm… which they have historically resisted. Apparently, J. Christopher Flowers (J.C. Flowers and Company… previously Goldman Sachs… Harvard University), along with allies from the Carlyle Group, has been pushing Treasury and the Fed in this direction for months. This article explains it:

http://www.naomiklein.org/node/922

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