“The FDIC is constantly looking at structures where we can get the greatest opportunity to tap into capital that we have not had the success reaching through previous disposition methods,” FDIC spokeswoman Michele Heller said in an e-mailed statement. “We welcome and work with all investors.”

It should be very very obvious that all future money will be in the hands of the globalist elites who will rob and plunder the worlds economies into their privately owned and ruled banks who will dump all of the nations accumilated wealth into their coffers. Gone will be all social security and 401Ks and all pensions as they will take everything that people own and steal it for their own use (like paying interest on loans that can never be repaid).

It is very strange indeed that the FDIC is looking toward private pension investors to puchase toxic debt that the US government was practically forced to purchase in the wake of the Great Recession. This is because there is approximately 2 trillion dollars that are unaccounted for that were used to bail out various financial institutions, but we see that the likes of Geithner and Paulson were not able or unwilling to tell people where the money was spent. This is no joke.

---

Under the pretext of combating the financial crisis, Democrats in Congress have been conducting hearings on proposals to confiscate private retirement accounts and turn them into government-controlled accounts managed by the Social Security Administration, by implementing a new tax in the guise of mandatory savings scheme.

Teresa Ghilarducci, professor of economic policy analysis at the New School for Social Research in New York, testified before Congress last month, proposing that 401(k)s and IRAs be confiscated and converted into universal Guaranteed Retirement Accounts (GRAs) managed by the Social Security Administration

Think it can’t happen to the US or anywhere else?

Argentina has already vowed to push through similar measures in the name of rescuing the wider financial system. Last month, the government of the South American country signed a bill to mandate the National Social Security Administration takeover of $30 billion worth of private pensions.

The move sent stock markets plummeting with critics accusing the government of stealing the pensions to get their hands on extra money at a time of economic crisis, as citizens protested across the country. Source: infowars

---

Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash

By Dakin Campbell

March 8 (Bloomberg) — The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system, said people briefed on the matter.

Direct investments may allow funds such as those in Oregon, New Jersey and California to cut fees for private-equity managers, and the agency to get better prices for distressed assets, the people said. They declined to be identified because talks with regulators are confidential.

Oregon’s retirement fund may contribute $100 million as regulators seek “the support of state pension funds to solve the crisis surrounding ongoing bank failures,” Jay Fewel, a senior investment officer at the Oregon State Treasury, said in a presentation at the fund’s Feb. 24 meeting. New Jersey’s fund may also participate, said Orin Kramer, chairman of New Jersey’s State Investment Council.

The FDIC shuttered 140 lenders last year and expects the tally may be higher in 2010. Regulators have avoided signing up private-equity firms as rescuers on concern that they might take too much risk. Pension funds, whose 100 largest members manage $2.4 trillion, could provide capital to acquire deposits and outstanding loans from collapsed banks, according to the people. You can find the original article on Bloomberg.

Related posts:

1. FDIC Insuring 8,200 Banks with $9 Trillion in Deposits and Zero in the FDIC It sure looks like the FDIC is going bankrupt! I suppose only the Treasury Department can save them now. Excerpt Written by MyBudget360 The FDIC has greatly underestimated the...
2. The FDIC Anesthesia Is Wearing Off ..the FDIC is contributing to the deflationary trend. It has “tightened rules on required capital levels,” which forces banks’ loan ratios to fall. The FDIC Anesthesia Is Wearing Off...
3. Banks With 20% Unpaid Loans at 18-Year High Amid Recovery Doubt By Bloomberg News The number of U.S. lenders that can’t collect on at least 20 percent of their loans hit an 18-year high, signaling that more bank failures and...
4. Insanity: California prisons release inmates to save cash “Now we know that January 25th is the date that the state of California has decided to begin jeopardizing public safety with no perceivable financial benefit,” said Weber The...
5. Who said only Large Banks’ security was in jeopardy?Let this be a Warning to you I last checked one of my banks safety some six or so months ago it had a Good rating it has now fallen...
6. Citibank Controversy Puts Dubious FDIC Guarantee Back In The Spotlight “According to a spokeswoman, the bank changed the status of the bulk of its consumer checking accounts last year to take advantage of an FDIC policy to provide unlimited...

This entry was posted on Monday, March 8th, 2010 at 3:59 pm and is filed under Scams. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.