RINO spending bill Grubers the american voter


We are so screwed.

One of the provisions of the Boehner spending bill places the full exposure of the US derivatives market on the backs of the US taxpayer (aka the FDIC).

The bill would reverse Dodd-Frank requirements that banks “push out” some of derivatives trading into separate entities not backed by the FDIC.  Ever since being enacted, banks have been pushing to reverse the change. Now, the rules would go back to the way they used to be.   source

 

boehner spending bill-wapoThe FDIC insurance fund, which  guarantees $12 Trillion customer deposits in 7500 banks across the country is around $40 Billion, after going negative in 2009, and 2010.  This is still less than the statutory 1.15 % required reserve amount.  That amount is supposed to go to 1.35 by 2020 under Dodd-Frank.  IKR!

And how big is the US Derivatives Market?  Nobody really knows.  It’s a black box.  The estimate I’ve seen is $ One Quadrillion in notional value.  Estimating the amount of cash at risk using only 1%  still leaves an exposure of $10 TRILLION, which will now be backed up by you and I.

This is just the beginning.  Now that the get out of jail free card has been issued by the RINOs, we can only expect this market to grow unrestrained, like a weed in your flower garden.  Capitalism for the bankster profits, and socialism for the inevitable crash.

This isn’t what the Republicans were elected to do.  It is not why they were given the majorities in both houses of Congress.  It a complete and utter backhand to the voters who sent a clear message, received lip service, and received a giant Gruber in return.

Get ready.  It won’t be long now.

 

2 Responses

  1. Another election another stab in the back.
    elections

  2. I’ve said it before and will say it again: the American people are DUMBASSES!!!!! They can’t think for themselves and they trust the DNC, RNC and the Wacko Media to put a good candidate out there, when all they are putting out there is a wolf in sheeps clothing!!!! Until the people realize that we are _ucked without lube!!!! I pray that it won’t be to late when they do open their eyes.
    GOD BLESS AMERICA!!!!!

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