U.S. banks told to make plans for preventing collapse

By Rick Rothacker

REUTERS - U.S. regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help.

The two-year-old program, which has been largely secret until now, is in addition to the "living wills" the banks crafted to help regulators dismantle them if they actually do fail. It shows how hard regulators are working to ensure that banks have plans for worst-case scenarios and can act rationally in times of distress.

Officials like Lehman Brothers former Chief Executive Dick Fuld have been criticized for having been too hesitant to take bold steps to solve their banks' problems during the financial crisis.

According to documents obtained by Reuters, the Federal Reserve and the U.S. Office of the Comptroller of the Currency first directed five banks - which also include Citigroup Inc, Morgan Stanley and JPMorgan Chase & Co - to come up with these "recovery plans" in May 2010.

They told banks to consider drastic efforts to prevent failure in times of distress, including selling off businesses, finding other funding sources if regular borrowing markets shut them out, and reducing risk. The plans must be feasible to execute within three to six months, and banks were to "make no assumption of extraordinary support from the public sector," according to the documents.

Spokespeople for the five banks declined to comment. The Federal Reserve also declined to comment.

http://forum.prisonplanet.com/index.php?topic=235119.0

Views: 632

Reply to This

Replies to This Discussion

SOMETHING IS WRONG WITH THIS POLICY
October 7, 1998
Mr. Speaker, in America we have record trade deficits, record bankruptcies, record debt, consolidations, downsizing, more American jobs keep going overseas, a schizophrenia stock market, all symptoms of a major economic problem in America. After all this, the experts say American taxpayers must keep sending more money to the International Monetary Fund to prop up foreign countries to avert disaster.

Beam me up, Mr. Speaker.

When American dollars end up in the pockets of foreign politicians who then vote against America at the United Nations, something is wrong with this policy, very wrong. I say these foreign countries do not need American taxpayer dollars. They need reform. Think about it.

Mr. Speaker, I yield back what economy we have left.

James Traficant

didn't Traficant end up in prison? Good man from what i have seen of him~ aren't we all already in a sort of prison already ~ until we all are ready, willing and unafraid of going to prison we will all be on house arrest anyway ~ fear is the mind killer ~DUNE~

no good deed goes unpunished ~ Clare Boothe Luce~  

My late father has always advised - "Never speak just because you have a mouth" - "Remember you have two eyes, ears, feet, balls, etc, etc, etc" so your mouth and your percy should be the last to be engaged - the reply by Freedomrox falls into the (db) category.

Keep in mind, the bailouts (both hidden and Congressional approved) where spent on executive bonuses (small aspect) and paying off derivative bets (the majority). These banks no longer loan money to the people. They are sink holes of theft and fraud. Derivatives are bets on an outcome, they are "what if, then" bets. Derivatives were first created to cushion the effects of poor harvests or crop losses. The amount of completely worthless derivative bets on the world markets have never really been pinned down to an exact number, but it is estimated to be around $4 quadrillion dollars. With this year's absolute flop of the American grain harvest and collapse of the euro, many derivative bets will be called in at once, enough to cause a collapse of the derivative markets, which in turn will end all fiat currencies around the world. After the fall of the fiats, those holding real assets of value, corporations of value products and precious metals, will come out top. Keep in mind, the only two jobs our Federal government has is protecting the debt to banks and keeping the people in line and paying. The correct course is to wipe out the debt, all of it, then start over with an honest monetary system without private banks (of any form of private bank). But this will not happen since the government is owned by the banks. When this great collapse happens, you will have to choose one of two things, freedom or slavery to debt.

Commodity Futures Modernization Act was passed along with twenty-five other bills in H.R. 4577: Consolidated Appropriations Act of 2001.  This bill was pitched as an increase in regulation but in fact it was a deregulation bill. This bill legalized credit-default swaps (CDS).  This bill also made legal derivatives, which is a form of gambling upon assets that are not owned by the better. Derivatives can be hedged, which is likened to placing a side bet on your bet.

FOR FR:)

the banks.. the banksters.... are agents of the corruption... the devastation of the  people's welfare and security. They are the penultimate evil in the world as we know it. Those who own the bankers are the main, purified evil. The best solution for them is to ....  enact their demise.

To Mr. Sewell, I posted what was quoted on the floor of the Congress way back in 1998. If you think I am shooting off my mouth, then fine, since these words did not come from my mouth. I support and always have supported James Traficant, of which Kaes gave you a full after prison history. Seems you shot your mouth off with no facts in hand, and seem very reactionary...to what?

The Truth?

Special Drawing Rights are coming if folks honestly don't start protesting against the Fed, IMF, the UN and the International Bank of Settlements! Do so with alacrity, and not with withering and small commentary such as espoused by Mr. Sewell. Shame on you!

As for your comment Suzie, yes, he went to prison on trumped up insurance fraud charges never proven. This is Just-Us in USA Inc. There are heros today, as there were yesterday for true liberty and freedom, but people need to learn one simple fact....We can all be heroes! Alive now, and dead later!

 

Remember this simple axiom: In this life....NO ONE GETS OUT ALIVE! So how are you going to live yours?

We all knew this was coming. Revelation 13.

RSS

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

cheeki kea posted a video

Neil Oliver STUNNED as Dutch Official Reveals Covid-19 Was 'MILITARY Operation' in SHOCK Admission

Neil Oliver reacts after a top Dutch government official has admitted 'Covid' was a military operation.#gbnews #uknews #covid #coronavirus #covid19 Keep up t...
7 hours ago
tjdavis posted blog posts
yesterday
tjdavis commented on tjdavis's video
yesterday
tjdavis posted videos
yesterday
tjdavis posted photos
yesterday
Doc Vega posted blog posts
yesterday
Doc Vega commented on Doc Vega's blog post What Will happen When Robot Brides Replace Human Marriage?
"Less Prone thanks for your support Buddy! "
Friday
Less Prone favorited tjdavis's video
Thursday
Less Prone posted a photo

Social Engineering 101

That's how it goes.
Thursday
Doc Vega posted a blog post

A Prelude to WW III ? It Seems There We Are Trailblazing Idiocy into More Blood and Destruction!

They're rolling out the 25th Amendment trying to stop Joe Biden from insanely thrusting the US in a…See More
Thursday
Less Prone posted a video

Chris Langan - The Interview THEY Didn't Want You To See - CTMU [Full Version; Timestamps]

DW Description: Chris Langan is known to have the highest IQ in the world, somewhere between 195 and 210. To give you an idea of what this means, the average...
Wednesday
Doc Vega posted a blog post

RFK Jr. Appoinment Rocks the World of the Federal Health Agncies and The Big Pharma Profits!

The Appointment by Trump as Secretary of HHS has sent shockwaves through the federal government…See More
Tuesday
tjdavis posted a video

Somewhere in California.

Tom Waites and Iggy Pop meet in a midnight diner in Jim Jarmusch's 2003 film Coffee and Cigarettes.
Tuesday
cheeki kea commented on cheeki kea's photo
Thumbnail

1 possible 1

"It's possible, but less likely. said the cat."
Nov 18
cheeki kea posted a photo
Nov 18
tjdavis posted a blog post
Nov 18
Tori Kovach commented on cheeki kea's photo
Thumbnail

You are wrong, all of you.

"BECAUSE TARIFFS WILL PUT MONEY IN YOUR POCKETS!"
Nov 17
Tori Kovach posted photos
Nov 17
Doc Vega posted a blog post

Whatever Happened?

Whatever Happened?  The unsung heroes will go about their dayRegardless of the welcome they've…See More
Nov 17
Doc Vega commented on Doc Vega's blog post A Requiem for the Mass Corruption of the Federal Government
"cheeki kea Nice work! Thank you! "
Nov 17

© 2024   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted