800 billion dollar coup

The $800 Billion Dollar Big Bank bamboozle!

Okay I set quiet long enough, I figured cooler heads would prevail and with all the knowledge and wisdom that our leader's posses that they would not give away the store house. For one man to decide that our country needs to spend more than 700 billion dollars and for that man to not even be an elected official, I have to wonder what is going on. I've watched the Fed take over bank after bank and give them to JP Morgan Chase and Bank of American with the only claim to fame is it didn't cost the federal deposit insurance company a penny.

Let us look at the last giveaway, now don't get me wrong, I never did like Washington Mutual but let us take a look at their fall. First of all, you must know that Washington mutual had one of the largest bases of depositors, say to the tune of 440 Billion dollars in individual depositors. Well that is a lot of money, and at any given point it has been between 440 and 220 billion dollars, so that is what JP Morgan got, 0ver 220 billion dollars in deposits, now I am not mad at them because if I could have got such a sweet heart deal, I would have taken it too.

Now the 440 billion dollars came with 31 billion dollars worth of debt, so JP Morgan also gets 31 billion dollars worth of debt. Now if you look at it, that's a lot of debt, but compared to the deposits, it's not really that bad. Now what was the cost? Well JP Morgan paid the Fed 1.6 Billion. Now don't you find that kind of funny, the Fed takes over someone else's bank and get 1.6 billion dollars. Now If I am wrong please correct me.

So now the cost is 31 billion dollars plus 1.6 billion dollars or 32.6 billion dollars for a bad bank. That is 31 billion dollars, which is debt, 200 to 440 billion dollars in deposits, and more than two thousand branches. Now what does that make JP Morgan? The second largest bank, consumer and commercial in this country, and it only cost them 32.6 billion dollars. Now in most cases you could call it a coup, a take over, a over throw. Oh yeah I consider the Fed the biggest bank in America, after all they dictate how much money should be printed. That's what I call a bank.

Now back to the JP Morgan Coup, and I do call it a coup because, that 31 billion in debt is a problem that will be taken care of with the Big Bucks Bailout. So I see it going a little something like this, they sale the 31 Billion worth of debt to the Fed for 31 Billion dollars, then they buy it back plus more debt for another 1.6 billion, total take from the coup close to 470 billion dollars, you really have to love the Fed. But you know what is the bad thing about it all, well you lose your job anyway. JP Morgan will come after you to collect on the mortages, so they will make even more. America, what a great country.

So since your going to lose your job anyway, just let it fall where it will, yes people will suffer, but they are going to suffer anyway, so since deregulation caused it let deregulation fix it. Of course you can take the 700 billion dollars or more and pay off everyone's mortgage and start from scratch, that way we will get something for our tax paying dollars. And the money will work bottom up. Other then that you should question the interest of your elected officials that vote for the great bank give-a-way and maybe you should give them away, and bring in some new rookies, maybe if everyone lose their jobs we might all feel a little better. But that is just my opinion.

Okay I set quiet long enough, I figured cooler heads would prevail and with all the knowledge and wisdom that our leader's posses that they would not give away the store house. For one man to decide that our country needs to spend more than 700 billion dollars and for that man to not even be an elected official, I have to wonder what is going on. I've watched the Fed take over bank after bank and give them to JP Morgan Chase and Bank of American with the only claim to fame is it didn't cost the federal deposit insurance company a penny.

Let us look at the last giveaway, now don't get me wrong, I never did like Washington Mutual but let us take a look at their fall. First of all, you must know that Washington mutual had one of the largest bases of depositors, say to the tune of 440 Billion dollars in individual depositors. Well that is a lot of money, and at any given point it has been between 440 and 220 billion dollars, so that is what JP Morgan got, 0ver 220 billion dollars in deposits, now I am not mad at them because if I could have got such a sweet heart deal, I would have taken it too.

Now the 440 billion dollars came with 31 billion dollars worth of debt, so JP Morgan also gets 31 million dollars worth of debt. Now if you look at it, that's a lot of debt, but compared to the deposits, it's not really that bad. Now what was the cost? Well JP Morgan paid the Fed 1.6 Billion. Now don't you find that kind of funny, the Fed takes over someone else's bank and get 1.6 billion dollars. Now If I am wrong please correct me.

So now the cost is 31 billion dollars plus 1.6 billion dollars or 32.6 billion dollars for a bad bank. That is 31 billion dollars, which is debt, 200 to 440 billion dollars in deposits, and more than two thousand branches. Now what does that make JP Morgan? The second largest bank, consumer and commercial in this country, and it only cost them 32.6 billion dollars. Now in most cases you could call it a coup, a take over, a over throw. Oh yeah I consider the Fed the biggest bank in America, after all they dictate how much money should be printed. That's what I call a bank.

Now back to the JP Morgan Coup, and I do call it a coup because, that 31 billion in debt is a problem that will be taken care of with the Big Bucks Bailout. So I see it going a little something like this, they sale the 31 Billion worth of debt to the Fed for 31 Billion dollars, then they buy it back plus more debt for another 1.6 billion, total take from the coup close to 470 billion dollars, you really have to love the Fed. But you know what is the bad thing about it all, well you lose your job anyway. JP Morgan will come after you to collect on the mortages, so they will make even more. America, what a great country.

So since your going to lose your job anyway, just let it fall where it will, yes people will suffer, but they are going to suffer anyway, so since deregulation caused it let deregulation fix it. Of course you can take the 700 billion dollars or more and pay off everyone's mortgage and start from scratch, that way we will get something for our tax paying dollars. And the money will work bottom up. Other then that you should question the interest of your elected officials that vote for the great bank give-a-way and maybe you should give them away, and bring in some new rookies, maybe if everyone lose their jobs we might all feel a little better. But that is just my opinion.