Re: Federal Deposit Insurance Is Not Legally Obligated to Pay For Commercial Deposit Losses

Monk-Eye — Sun, 07 Aug 2011 02:02:46 GMT

** Bewildered Absence of The Press **

One might think that the obvious and blatant act of corruption to be headline daily news until the issue is rectified.

But petitions to a myriad of agencies falls on deaf ears, even though it is clearly understood.

Some have stated that none will believe the situation because it requires clear challenge to ilegitimate government.

Some have asked why one would call out the FDIC, because given the public fleecing at least the FDIC serves to provide some restitution.

Verily, one cannot determine the number of views for a thread and acknowledgement is earily quiet.

Re: Federal Deposit Insurance Is Not Legally Obligated to Pay For Commercial Deposit Losses

No2statism — Sat, 06 Aug 2011 14:30:00 GMT

It doesn't surprise me in the least. Good find:)

Federal Deposit Insurance Is Not Legally Obligated to Pay For Commercial Deposit Losses

Monk-Eye — Fri, 05 Aug 2011 23:51:26 GMT

** Separation of Commercial Bank Deposits and Investment Bank Speculation After 1929 Stock Market Crash **

In 1932, the Pecora Commission was established by the U.S. Senate to study the causes of the crash. The U.S. Congress passed the Glass–Steagall Act in 1933, which mandated a separation between commercial banks, which take deposits and extend loans, and investment banks, which underwrite, issue, and distribute stocks, bonds, and other securities.

** 1933 - FDIC Underwrites Commercial Deposits Because They Were Not Being Used for Speculation **

The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank.

** Gram-Leach-Bliley Act Repeals the Glass-Steagall Act And Commercial Deposits Are In Breach of FDIC Contract Underwriting **

The repeal of provisions of the Glass–Steagall Act of 1933 by the Gramm–Leach–Bliley Act effectively removed the separation that previously existed between investment banking which issued securities and commercial banks which accepted deposits. The deregulation also removed conflict of interest prohibitions between investment bankers serving as officers of commercial banks. Experts believe that this repeal directly contributed to the severity of the Financial crisis of 2007–2011 by allowing Wall Street investment banking firms to gamble with their depositors' money that was held in commercial banks owned or created by the investment firms.^[4]^[5]^[6]^[7]^[8]^[9]

** Federal Deposit Insurance Is Not Legally Obligated to Pay For Commercial Deposit Losses **

While financial institutions were using commercial deposits for speculation, in breach of FDIC, were the commercial depositors receiving an increase in their interest payments from the banks? Where is the class action lawsuit to recoupe those arrears?

The repeal of Glass-Steagall Act requires that FDIC announce that financial institutions are in breach of its underwriting and failure to do so constitutes malfeasance and fraud. Government and private corporations deceptively and purposely failed to provide notice to the public.

Providing investment banks access to commercial deposits assured that the housing market collapse was not isolated to a single economic sector and that there were not any available monetary reserves, especially given fractional lending and the additional market fraud arranged by .

Not only were the banks bailed out, thus rewarding insubordinate bonuses,financial institutions continue to use commercial deposits to artificially inflate oil prices through special exceptions.

PERHAPS 60% OF TODAY'S OILPRICE IS PURE SPECULATION By F. William Engdahl, 2 May 2008

FDIC continues to assume control of failed banks - FDIC Failed Bank List - and to bail out depositors who are still getting pittance under the presumption that their deposits are quietly idle in the banks.

When will the politicians who have orchestrated these deceptions be posthumously impeached for malfeasance, and for their part in this financial terrorism?

Political Theory

Re: Federal Deposit Insurance Is Not Legally Obligated to Pay For Commercial Deposit Losses

Re: Federal Deposit Insurance Is Not Legally Obligated to Pay For Commercial Deposit Losses

Federal Deposit Insurance Is Not Legally Obligated to Pay For Commercial Deposit Losses