$500 billion failed. The large number of failures overwhelmed the resources of the FSLIC (this was the S&L equivalent to FDIC), so U.S. taxpayers were required to back up the commitment extended to insured depositors of the failed institutions.
In December 31, 1999, the thrift crisis had cost taxpayers approximately $124 billion and the thrift industry another $29 billion, for an estimated total loss of approximately $153 billion. The losses were higher than those predicted in the late 1980s, when the RTC was established, but below those forecasted during the early to mid-1990s, at the height of the crisis.What was the RTC? As stated within Wikipedia the RTC was as follows:
Resolution Trust Corporation (RTC) was a United States Government-owned asset management company charged with liquidating assets (primarily real estate-related assets, including mortgage loans) that had been assets of savings and loan associations (S&Ls) declared insolvent by the Office of Thrift Supervision, as a consequence of the savings and loan crisis of the 1980s. It also took over the insurance functions of the former Federal Home Loan Bank Board. It was created by the Financial Institutions Reform Recovery and Enforcement Act (FIRREA), adopted in 1989.
In 1995, its duties were transferred to the Savings Association Insurance Fund of the Federal Deposit Insurance Corporation.Between 1989 and mid-1995, the Resolution Trust Corporation closed or otherwise resolved 747 thrifts with total assets of $394 billion. Please click on Wikipedia for more details click here The issue was that the Savings and Loan Industry began to fail because of Greed from within and my the hands of those who had control of “Private and Public Assets” being use as piggy banks by insiders, who would taking out money which was used for personal gain! They claimed that they were going to replace the money but they never did! Who was the fall guy? Well the depositors, who else!This form of financial Terrorism began around the era of President George Bush Sr., whose son Neil Bush was caught up in this web, was being investigated as were many others tied within the banking industry some went to jail others never were triedIn fact former Governor of the State of Illinois Dan Walker was jailed because of allegations of misuse of money out of the bank of Oakbrook Savings and Loan. But this Financial nightmare was covered up within the so-called “Gulf War”, and the” War on Drug Campaign” all started to cover-up the existence of money laundering and fraud within the Saving & Loan institutes and the men behind the very real theft of American Assets. Because of the “Gulf War” the people quickly drifted from seeing the major issue of the banking collapse now replaced within the media with “War Related Drama” and the facts that we had a major drug issue within many of the US caused by the CIA allegedly bring more and more drugs into the inner cities made this game more lucrative for those involved and the America People knew nothing but following the stories that were being handed to the press.
Then came Pandora Box, Corporate theft of 401K’s, Employee Trust Funds and Retirement Accounts. The first was Enron. Yes, this was a new way to gain control of employee trust accounts and move the money into something that they were attempting to hide, that the Whistleblower of Enron had no knowledge of which was the “Subordination of Property”. This game was to create non-existing bank accounts and trade them within a future accounting principle! You had a property land, Lease and or anything else of value, but you have not sold it to create money and or a liquid asset.
The value is determined by Appraisal of the Property. The value once set is then placed within a bank account but there is no money within the account anything only a value statement which is used to trade within Hedge funds, Option Markets and other financial pools. Once the money has completed the cycle money missing from the valueless banking account is then replaced.
The bank makes money and the person who created this account the banker and his depositor gets paid in returned Millions of Dollars within a three to four week span. It’s gets worse, they were doing this within the stock market, creating shall accounts to replace assets into upon creating scares like Anthrax which only killed maybe three people.
There was a shell stock on the exchange for Bayer the makers of Cipro the cure for this disease!Yes, this was more than the author of James Bond could create in a Novel. But the Enron lawsuit if the financials were really looked into and found would show that this firm as many others were involved within the CDS plot. Credit Default Swaps, which is the term used for a non-insurance insurance which was the so-called support system they use to created so-called default protection to those using trust funds and other money within corporations such as the employee pension fund, and 401K’s Social Security etc.
Someone within the Executive level of the corporation was sworn to secrecy and given the green light to raid the Employee war chest. Their retirement accounts. The assets were removed on the same principle as I had shared within the so-called Subordination of Property” game but in this one they knew that the executives, banking officials and others involved in this would be jailed. So this is what I am alleging happened. Arthur Anderson who in the old days was the auditing firm for the IRS had records of both on Enron, the reporting assets, which the Courts sought within the pending litigation before them. There was a court order requesting that Anderson turn over those documents, but because of the facts involved and information contained within these reports Arthur Anderson shredded everything!The next sets of records on these transactions were within the Oklahoma City Building. This is where they moved the HUB of the IRS computer.
Because within these records there would be found evidence of a little known Financial Tool called Credit Default Swaps and the trail would lead to those involved in a massive movement of Assets of Employee Trust and other money in and out of trading floors of stock markets those involved would be caught and maybe arrested for Money Laundering, Banking Fraud and Conspiracy. In fact these people were involved with Treason because of the murder of citizens within the Oklahoma City Building, and of course the WTC because the World Trade Center Towers because a problem. For one the structure was not constructed with enough safety measures, in 1993 the bombing happening to get rid of records, whereby the second attempt worked and solved many problems.
One was the issue of Enron Records,
Two the near bankruptcy of New York City from the 1993 lawsuit,
Three the issue of Lloyds of London getting ready to go under due to the large amounts of money they had to pay to those injured and killed. Fact’s about CDS.
Well Credit Defaults Swaps it seems may have been created by a team of students at MIT and Cambridge University via a think thank, a how to create game, just like the one MIT students developed to take out money from gambling casino’s within card counting. This time they were given a puzzle of how to make a lot of money with the use of Trust funds, 401k and Security Social without the people who have vested interest in these accounts from knowing. Indeed they did their magic and created a system called CDS. Again those who were involved covered their tracks within murder plots and conspiracies all coming to light due to a equations they did not see which was the default of Mortgages by the consumers. Now the invisible empire was seen and now American may have to dish out about 671 Trillion Dollars to clean the real debt.
The Bail-out of Wall Street just gave them enough money to flee after the election they all knew about this. Look up JP Morgan and CDS and you will see another direct tie, on the back end they are taking over bank after bank! Is it not funny they were involved with the CDS’s that help to bankrupt Wall Street and just like the days of the Savings and Loan Institutes the Banks will not survive this in the present form these banks are grouping up to another entity. Just like the time of the RTC the Federal Government came in and took over the properties which were flooding the secondary Mortgage Market. History repeats itself? Or is this by design to create a new world economy. Ask MIT students if they can reduce this mess. And if these students could develop this thread a very working model that was use to create “Credit Default Swaps” then could not another team of Physicist create a way to take out the World Trade Center.
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