It Can Happen Here: The Confiscation Scheme Planned For U.S. And U.K. Depositors

[dixiegrrrrl]

67. There are LAWS which say the FDIC is supposed to step in BEFORE a bank gets into deep trouble

and rescue the bank by replacing management, selling bank off to a stronger bank, etc.

There are LAWS which say the Federal Reserve ( which Turbo Timmy used to head) is supposed to be supervising banks for any signs of trouble and stepping in before there is an implosion.

There are LAWS which say Money Management funds are supposed to unwind in a certain order,
which means depositors get their money back before owners and partners and shareholders do..

when was the last time THAT happened to funds like MFGlobal.

There are LAWS which say if you are going to foreclose on a house, you have to provide proof of title AND loan to the court....yet millions of foreclosures happened without that proof, esp. in non-judicial states.

There are LAWS that say if you buy mortgages from a company, you are supposed to get the actual mortgage papers with the sale, and pass them on when you sell packages of mortgages to someone else...
now we find out that Countrywide routinely destroyed their loan paperwork, was never passed on to Bank of America, who sold tranches of mortgages to various funds,

but the LAWS that said the funds which bought the mortgage bonds had to have the actual mortgages in them,
well, golly gee whiz, that never happened either.

So to save the banks, the Government had Fannie Mae and Freddie Mac step in and buy the now worthless mortgage bonds, ( well, in computerized form, since there was no paperwork) with tax payer money.

The Constitution says Rule of Law is to apply everywhere.

Look around.....do YOU see rule of law applying to "the little people"?

[font style=color:#CC0000;] But whenever we see things done wildly, but taken tamely, then the State is growing insane...
G.K.Chesterton[/font]