Reply #136: Did you miss the memo?

[MNReformer]

The wall came down between the investment banks and the commercial banks, in case you weren't paying attention. We now have four mega-banks, BofA, Morgan, Goldman, Citigroup/Wells Fargo--Morgan Stanley and Goldman Sachs are functioning as holding companies.

http://www.thedeal.com/newsweekly/features/making-megabanks-1.php

Here is the pertinent history:

http://www.creative-i.info/?p=1537

What is happening is that the Bush administration is engineering a massive raid on the Federal treasury to pay off the people within the financial industry who have been operating the housing scam because the politicians told them to do it. This is hush money. The people in the financial institutions who are getting the money will be passing it on to the big banks that leveraged their criminal lending practices. The giant sucking sound you hear is almost a trillion dollars of future taxpayer earnings going into the vaults of the nation's biggest banks, such as Citibank, Bank of America, and--the pet bank of the Rockefeller family--J.P. Morgan Chase. Much will also go into the vaults of foreign investors such as the Bank of China.

And these banks have no intention of recycling the money into productive U.S. investments. Despite the political posturing, where much of it will go at the second or third tier is into executive salaries and bonuses. The fat cats are "gittin' out while the gittin's good."-

What happens next?

Well, it is already happening. In the post-bubble era there will be no more economic engines for the American economy. A long-term recession and depression are inevitable, and they are expected by those in the know. In fact, there has been a plan in the works for a very long time to bring down the U.S. economy, and it will be happening over the coming months.

This is the plan, so people need to begin to take whatever measures they can to cut their cost of living, get out of debt, and protect themselves and their families.

http://www.opednews.com/articles/Does-the-Bailout-Bill-Mark-by-Richard-C-Cook-081001-554.html