Top 5 Banks Going Out of Business – July 2012 Collapse

Reuters.com & Bix Weir

Wed, Jun 27, 2012

Subject: 5 Big Banks Liquidating by July 4th

www.MorningLiberty.com

I Am America by Krista Branch

http://mikephilbin.blogspot.co.uk/2012/06/corporation-1040-time-for-chaaange.html
 

 

http://www.reuters.com/article/2012/06/27/us-banks-bailouts-wills-idUSBRE85Q0AZ20120627

 

(Reuters) – Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations.

The plans, known as living wills, are due to regulators no later than July 1 under provisions of the Dodd-Frank financial reform law designed to end too-big-to-fail bailouts by the government. The living wills could be as long as 4,000 pages.

Since the law allows regulators to go so far as to order a bank to divest subsidiaries if it cannot plan an orderly resolution in bankruptcy, the deadline is pushing even healthy institutions to start a multi-year process to untangle their complex global operations, according to industry consultants.

"The resolution process is now going to be part of the cost-benefit analysis on where banks will do business," said Dan Ryan, leader of the financial services regulatory practice at PricewaterhouseCoopers in New York. "The complexity of the organizations will shrink."

JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N), Citigroup Inc (C.N), Goldman Sachs & Co (GS.N) and Morgan Stanley (MS.N) are among those submitting the first liquidation scenarios to regulators at the Federal Reserve and the Federal Deposit Insurance Corp, according to people familiar with the matter.

The five firms, which declined to discuss their plans for this story, have some of the biggest balance sheets, trading desks and derivatives portfolios of financial institutions in the United States.

Great Britain and other major countries are imposing similar requirements for "resolution" plans on their big banks, too.

The liquidation plans are coming amid renewed questions about the safety of big banks following JPMorgan's stunning announcement last month that a trading debacle has cost it more than $2 billion – a sum far too small to endanger the bank, but shocking enough to bring back memories of the financial crisis.

 
Posted by John MacHaffie at 8:07 PM 
 
bix@roadtoroota.com>
Subject: SPECIAL ALERT: CHAOS AT THE FED NEW YORK
 

 

We are starting to see signs that there is massive chaos at the HUB of market rigging operations- the New York Federal Reserve. With the looming Fed audit vote in mid July, the Fed's ability to pull rabbits out of their hat to control the US Dollar is wobbling. With the dollar showing signs of instability (an instantaneous .50 drop last night and down 1.22 since yesterday) the Fed is helpless to continue their support operation.
 
With this in the background it was announced today that the Chief Market Rigger, Brian Sack, who was supposed to retire today is withdrawing his retirement…
 
Sack Withdraws Resignation, to Remain at NY Fed
 
NEW YORK (Reuters) – Brian Sack, who oversees the Federal Reserve's open market actions, and who was to leave the New York Fed bank on Friday, will instead stay on as senior advisor to President William Dudley.
The Federal Reserve Bank of New York announced on Friday that Sack has withdrawn his resignation and starts the new position June 30. He will no longer be involved with the group that oversees market activities.
END
 

There are no accidents anymore. This is the planned destruction of the un-backed fiat monetary system which will destroy the Bad Guys, revive the US Gold Standard and return the US to a Constitutional Republic.
 
My birthday is next Wednesday (yep- I was born on the 4th of July:) and it's shaping up to be a real doozy of a firework show!
 
Stay buckled up.
 
Bix Weir
 
PS – Private Road Members should review the following articles to see what may go down in the next two months and plan accordingly:
 
SPECIAL REPORT: Confirmation from "The Insider"
 
2012: Timeline on the Road to RootA

 


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One Response to “Top 5 Banks Going Out of Business – July 2012 Collapse”

  1. Plan against growing daily new surprises every second start praying harder and waking up the sheeple good job morning liberty

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