Flying in from regions unknown to earth beings, Super Joe, defender against evil forces of loose credit and hyper expansions of the money supply is on watch. His constant battle against FED abuses keeps him ever vigilant to protect those who are for fiscal responsibility, strong currency and socially liberal.
Todays episode, Pimp My Bad Investment
While the nation sleeps evil forces are at work.
May 30 (Bloomberg) -- Federal Reserve Board Vice Chairman Donald Kohn raised the possibility of giving Wall Street securities firms permanent access to loans from the central bank, as long as regulators tighten oversight of the companies.
Kohn also advocated continuing Fed auctions of funds to commercial banks and loans of Treasuries to Wall Street dealers even after markets stabilize. Such channels would stay open ``either on a standby basis or operating at a very low level,'' he said in a speech in New York yesterday.
The remarks go beyond Fed Chairman Ben S. Bernanke, who has indicated the central bank would shut lending to investment banks when the credit crisis passes. Lawmakers and regulators are debating how to approach the supervision of investment banks in the aftermath of the Fed's rescue of Bear Stearns Cos. in March.
``If you are a bondholder in one of these Wall Street firms, you know you have a big `Sugar Daddy' now called the Federal Reserve that's going to back you up,'' said Jeff Pantages, chief investment officer of Alaska Permanent Capital Management in Anchorage, which oversees $1.8 billion in assets.
Correct earthlings. Filthy, innocuous people out to destroy your purchasing power, are continuing to work around the clock making sure the status quo remains intact. The cartel of rich, powerful bankers make sure you bail them out if ever they should overleverage themselves or find their manipulations are on the wrong side of the market forces.
You might ask does this threat only effect the ilk of a single nation? HA HA HA I bellow. "No small one, you must think globally in todays market"
In addition, central banks are considering arrangements to accept collateral from other countries denominated in other currencies, Kohn said. ``A number of issues need to be resolved,'' he said, adding that major central banks may agree on accepting a ``common pool of very safe collateral.''
The evil intent is to have the US citizen bail out the entire planet by accepting all of their bad paper in perpetuity. In a dark, smokey back room they scoff "Why not,(ha ha) We can never be wrong, We will rule the world!"(demonic laugh)
Super Joe has uncovered a plot being cooked by Wall Street, FED governors, and the US Treasury to exacerbate US taxpayer debt levels and keep the forces of evil in power for generations to come. Your childrens children will be paying off this debt for the rest of their lives. Scanning the headlines with his X-ray vision Super Joe lays out the steps that will secure their station and destroy the American dream forever.
Bernanke and his colleagues (read cohorts) established the Term Auction Facility in December for cash loans to commercial banks, the Term Securities Lending Facility in March for loans of Treasuries to Wall Street dealers and the Primary Dealer Credit Facility in March for cash loans to the same securities firms.
When confronted by an innocent,inquisitive pedestrian the FED accidently slips and reveals how it will be accomplished.
In response to an audience question, Kohn said a shortage of Treasury securities is ``not one of the things I'm worried about.''
Like Oliver asking "please sir, may I have another?" the Fed Governor prints enough cash to absorb any amount of debt they want to purchase, leaving the US taxpayer hopelessly forever shackled with their misdeeds. With the most cynical of morals their idea would not even provide leaves in which the unwashed masses would use for toilet paper.
With his super hearing, Super Joe overhears Fed Governor Kohn exclaim "Chop it all down dammit!, we've got debt to buy, backed by the US Taxpayer."
Concerned for all earthlings Super Joe has shown the continual grab for power and money by the illegal cartel and the extortion schemes being thrust upon an unsuspecting populace. The next spiral of bailouts is sure to include more of the same policies that will take us down that road.
May 30 (Bloomberg) -- Newly delinquent mortgage borrowers outnumbered people who caught up on their overdue payments by two to one last month, a sign that nationwide efforts to help homeowners avoid default may be failing.
Foreclosure filings surged 65 percent and bank seizures more than doubled in April compared with a year earlier as rates on adjustable mortgages increased, according to RealtyTrac Inc. Lawmakers and Federal Reserve officials are trying to ease the worst U.S. housing slump since the Great Depression through tax rebates, expanded federal mortgage insurance and other programs.
A lending industry-led program, backed by the U.S. Treasury Department, that encourages lenders to ease mortgage terms has so far proven insufficient, Sandra Braunstein, the head of consumer and community affairs at the Fed, told the Conference of State Bank Supervisors at a meeting in Florida last week.
The mortgage crisis ``is bad and it's getting worse,'' Braunstein said, repeating the central bank's plea for lenders to consider forgiving portions of mortgages. Lenders typically require borrowers to buy insurance when their down payment is less than 20 percent.
So what does the banking racket do when confronted with facts and figures they don't like? They fix 'em. (Much like the CPI and unemployment numbers)
The insurers say they've raised prices and stopped selling policies to the riskiest borrowers or covering loans in areas such as California and Florida with the highest default rates.
Ah-ha! I see what you are doing Helicopter Commander Ben and you have been exposed as the shyster that you are. Like CPI, when you leave out things like food and energy, those numbers don't look so bad. Maybe they stop reporting defaults in California, Florida, Arizona, Nevada, Georgia .... well you get the picture.
My awesome powers of slicing thru the flury of hurled crap-OLA with the assitance of the super secret waste high waders so not to get my cape covered in ... dookie uncovered this gem.
Yesterday’s GDP report provides the latest proof of fixing numbers to match their delusions. The government was able to present an annualized first quarter growth rate of .9% based on an assumed annualized rate of inflation of only 2.6%. In other words, inflation in the first quarter of 2008 was the lowest first quarter inflation in the last four years.
``People are still going into foreclosure when, with a writedown on existing principal, they could still stay in their homes.''
Like all arch villans the FED has more than one tool to destroy the citizenry currency and retain control over the masses. If hyper inflating it doesn't work we can just change the law as well. Afterall calling in a few favors from the the Bush administration and his crosstown mob is in their interest as well.
Part of the problem is that so many of the loans were securitized, making it difficult to determine who has the legal authority to modify them, or even who owns them, Fishbein said.
About 90 percent of subprime loans have been bundled into securities, according to Inside Mortgage Finance, a Bethesda, Maryland-based industry newsletter.
Super Joe's favorite spectacle of propaganda and big business interests, the right wing rag Sacramento Bee was touting how investors and buyers were returning in droves across the headlines earlier this week. Today, burried in the the RE section, the Philistines have a moment of clairvoyance. Coaxed by the truth ray from Super Joes super mind powers they are forced to admit, they are only now getting a clue.
Now, customers are in control, holding back, waiting, often still doubting home builders' word that this is the best time to buy.
This change is not easy for builders. In a bust that has lasted three years, they have gone through phases: denial, blaming the media for messing with the heads of buyers, predicting bottom soon and laying off staff.
Now a chastened industry has reached a new stage, openly acknowledging its mistakes.
The new humility was on display Thursday during a Sacramento-area builder seminar by San Diego-based Sullivan Group Real Estate Advisors. In a spirit of straight talk with business people who spent $50 to hear it, president Tim Sullivan told the industry, "We've effectively stolen from the future. The demand we should be having now we stole in 2005 and 2006."
Under the total control of Super Joe's Vulcan mind meld Tim Sullivan breaks ranks, while sobbing freely admits
"We're paying for the sins of our past right now."
Yeah ... another criminal plot foiled. "Who's yo daddy now?"