August 17, 2009

Former FHLB Director: The Best Way To Rob A Bank Is To Own One

With more banks failing every week, and the FDIC running out of money to back up depositors, this video is quite timely. William K. Black, the former litigation director of the Federal Home Loan Bank Board who investigated the Savings and Loan disaster of the 1980s, discusses the latest scandal in which a single bank, […]

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May 7, 2009

Bank “Stress Tests” Results Are Finally In: Fed Licks It’s Chops

The long-awaited, much heralded bank “stress test” results were FINALLY released today. Turbo-tax Tim Geithner delayed them a few days, and waited until after the market close today…although much of the news was intentionally leaked before the release. Leaks claimed that the test found that Bank of America needs $33.9 billion in additional capital. The […]

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April 9, 2009

No Bank Left Behind

Turbo-Tax Treasury Secretary Timothy Geithner helped create the “stress test” for banks. This fact alone should give you the cold shivers. For the past several weeks examiners have been combing over the banks balance sheets and assets, putting the institutions through their paces. Or so we’ve been led to believe. Surprise, surprise, officials are now […]

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February 27, 2009

Toxic Assets Indeed!

Many times we’ve discussed the “toxic assets” held by the banks, and the role they are playing in the global economic meltdown. One of the problems with these derivative securities is this: most of them never traded on any exchange, so valuing them is difficult. The banks had been valuing them at 100% or more […]

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January 25, 2009

Founding Fathers Quote To Remember: Banking Edition

“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and the corporations which grow up around them will deprive the people of all property until their children wake up homeless on the continent their father conquered.” – Thomas Jefferson

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January 18, 2009

The Vampires And Corrupters Of Capitalism

In the clip below, CNBC’s Dylan Ratigan, host of ‘Fast Money’ and ‘Closing Bell,’ explains why Citigroup’s potential deal with Morgan shows just how bad things are. Sandy Weil and the boys are taking the ride of their lives. Anything less than outrage over this idiocy and flat-out theft is heartbreaking. On Friday, Bank of […]

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December 22, 2008

Banks Refuse To Give Specifics On How They Spent Bailout Funds

Sad to say, but this horse has left the barn, and we taxpayers have little chance of it coming back. We’ve been loudly ringing the bell on the bailout here at Right Soup, so it’s no shock to us that the well-connected bankers who’ve received incredible amounts of our tax dollars via the TARP to […]

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December 12, 2008

Prominent Investor Jim Rogers Says US Banks Are Bankrupt

Jim Rogers, one of the world’s most prominent international investors, called most of the largest U.S. banks “totally bankrupt” yesterday, and said government efforts to fix the sector are wrongheaded. Speaking by teleconference at the Reuters Investment Outlook 2009 Summit, the co-founder with George Soros of the well-known em>Quantum Fund, said the government’s $700 billion […]

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November 24, 2008

Citigroup Gets Her Ticket To The Bailout Ball

This one’s been swirling all weekend, but Fox News has just confirmed that Citigroup is getting some more of our money from the $700 billion dollar bailout fund. The largest financial institution in America, and perhaps the world, already got a $25 billion dollar chunk, but they’re gonna get more. $20 billion more, reportedly, and […]

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