The following is an article that I found on the Peaceful Resistance website which was originally posted in Economy, News on November 10, 2011 titled “12 Countries and 29 Banks in Trouble” and I quote:
“12 Countries and 29 Banks in Trouble”
– November 10, 2011
Posted in: Ecomomy, News
1. Bank of China
Italy 1. Unicredit
Netherlands 1. ING
Sweden 1. Nordea
1.Credit Suisse, UBS
4.Royal Bank of Scotland
U.S. 1.Bank of America
2.Bank of New York Mellon*
*FSB has added two more institutions – Bank of New York Mellon and State Street
The Financial Stability Board lists the banks that should be of significant interest to those concerned with “Too Big To Fail” institutions.
The total assets of these banks to the home country is astounding. The banking powers are undermining the home country’s ability to function as a separate entity from the taxpayer. These counties are making decisions based upon the multinational bank power and not the sovereignty of the country.
How can any country have the ability to guarantee the best interests of it’s own citizens when the power rests with these over-leveraged banks?
Contagion risks arising from one failure amongst this group of 29 that can (and will) infect other banks within these nations. Many studies have shown “Too Big To Fail” exposures can significantly intensify problems for banking in general once contagion spreads to it. Even the banks that are financially sound can become problematic.
Anyone in for a bad game of Dominoes?
“The real menace of our republic is this invisible government which like a giant octopus sprawls its slimy length over city, state and nation. Like the octopus of real life, it operates under cover of a self created screen….At the head of this octopus are the Rockefeller Standard Oil interests and a small group of powerful banking houses generally referred to as international bankers. The little coterie of powerful international bankers virtually run the United States government for their own selfish purposes. They practically control both political parties.”
New York City Mayor John F. Hylan, 1922
“Since I entered politics, I have chiefly had men’s views confided to me privately. Some of the biggest men in the United States, in the Field of commerce and manufacture, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they better not speak above their breath when they speak in condemnation of it.”
Woodrow Wilson,The New Freedom 1913″
(THE GROWING INVESTMENT BANKING PROBLEM CONCERNING HEDGE FUNDS AND PRIVATE EQUITY HAS CONTINUOUSLY BEEN GETTING WORSE BECAUSE OF NO GOVERNMENT REGULATIONS ON THE TOXIC DERIVATIVES AND HUGE LEVERAGE THAT WALL STREET ARE USING IN THEIR TRADES. THE BANKERS ARE CONSTANTLY KILING ANY REGULATIONS THE GOVERNMENTS ARE TRYING TO PROMOTE.
LaVern Isely, Overtaxed Independent Middle Class Taxpayer and Public Citizen and AARP Members