The Arizona Sentinel

June 15, 2009

Monday Morning UPTICK! Bank of America,Capital One

Filed under: My Posts — thearizonasentinel @ 2:12 pm

Well folks , remember four years ago , when many of us were rasing hell about , Banks giving bank accounts,credit cards,mortgages,and auto loans to illegal aliens.  Well some new numbers have come out that indicate that again the chickens have come home to roost.

Bank of America, a major contributor to this anti American credit  policy numbers are as follows:  Sub prime, bank accounts and credit cards for illegal aliens, auto loans for illegal aliens, have jumped up and slapped BOA in the ass.

Projected losses for this year expected to be $49 billion.    “And guess what taxpayers, you will be picking up the tab.

Capitol One,    Credit card charge offs and auto loan charge offs, up 9.4% in May alone. In April they were up 8.9%   ” ” If you remember Capitol One, was also a recipient of tarp funds!!!!

One thing is certain, if the boards of these institutions will not oversee their company policies, then the management of last resort is government.  So here we are.  Like it or not.  In my view we should have let all of these institutions fail. Every single one of them. 

The government by bailing out these flawed companies, has only put the nation at fiscal risk.  Thanks to bush we had 10 trillion of debt , now we are headed to 20 trillion.   History will show that America failed as a nation because of two administrations .  bush,obama.

As a former pilot  , we used to have a saying:   The right engine is on fire, I have left the airplane, I suggest you put your head between your legs and kiss your  _ _ _   goodbye.

   Because of these bank CEO and board failures the Fed has announced some major regulatory reform proposal.  These changes are the direct result of Bank Management Failures.

First , The Fed will become the systemic risk regulator.

Second, All institutions subject to higher capital and liquidity ratios,..  “””Hopefully this will help end the stupid loan practicies of the past.”

Third: All derivatives subject to regulation:   ” Hmmm , this could slow down those mega bonus’s on phony securities”””

Fourth : All derivative dealers subject to supervision:   ” DUH”

Fifth: ABS origionators required to retain interest.   ”  AMEN this is long over due”  They need to have some skin in the game.  This will go along way towards proper underwriting.

Sixth: Resolution regime for complicated financial institutions,…  ” This will create a mechanism for unwinding a these two big to fail institutions”.   

Ok Mr. Geitner,.  Like Ive been saying, If these major corps cant properly manage themselves, the government is going to have to.  I dont like it , but these stupid financial policies have to stop.

Oh , did you all see the head of the U.S. Chamber of Commerce this weekend,.. IN short his historical babble has caught up with him.  His globalism support is having some issues.   Tom Donahue has been working for years to undermine , the U. S. Manufacturing base in favor of gloablism.  Now he is it seems being shuned for those views.  The U.S. Chamber of Commerce is a taxpayer funded agency that should be defunded.

The Dollar is up ,  and oil is down below 70,,, stay off the road folks and lets drive oil back down to 55 where it belongs!!!!!!

check this video::http://www.bordermovie.com/

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1 Comment »

  1. […] Monday Morning UPTICK! Bank of America,Capital One Filed under: My Posts — thearizonasentinel @ 2:12 pm […]

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    Pingback by As Predictied a Run on the Banks , Bank of America & Wells Fargo, Hate to say I told you so, But I told you so in June of 09. « The Arizona Sentinel — November 5, 2011 @ 4:37 pm


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