2013년 11월 25일 월요일

About 'accounting and financial information system'|... financial aid. I do however...that more should and could be ...Community College Systems, About MCCS, Key... for information on the bond issue...







About 'accounting and financial information system'|... financial aid. I do however...that more should and could be ...Community College Systems, About MCCS, Key... for information on the bond issue...








America               and               the               world               at               whole               has               been               subjected               to               numerous               financial               jargon               and               sophisticated               words               for               incredibly               complex               financial               instruments,               models,               structures,               and               blah,               blah,               blah,               blah.

Thankfully               with               the               help               of               the               Special               Inspector               General               overseeing               the               use               of               TARP               (Troubled               Assets               Relief               Program)               funds               and               a               complete               lack               of               trust               for               any               government               willing               to               give               a               few               institutions               they               personally               select               billions               of               our               tax               dollars,               so               they               can               charge               us               interest               on               loans               created               by               said               tax               dollars;               I               have               worked               on               a               complete               list               that               should               get               you               through               reading               the               Wall               Street               Journal               and               understanding               the               not               so               complicated               world               of               financial               scamming.
               I               have               combined               all               the               not               so               easily               understood               terms               used               by               these               financial               wizards               so               that               everyday               American               voters               can               educate               themselves               and               decided               for               themselves               if               the               politicians               supporting               these               TARP               programs               should               actually               be               in               office               representing               us.
               The               definitions               are               from               the               TARP               Oversight               Committee               and               it               is               available               to               read               online,               but               sometimes               definitions               need               explaining,               so               the               Real               Scoops               are               my               definitions               of               the               definitions.
               ABS               or               Asset-Backed               Securities:               A               tradable               security               backed               by               a               pool               of               loans,               leases,               or               any               other               cash-flow-producing               assets.
               THE               REAL               SCOOP:               Whenever               anything               is               explained               by               a               term               that               needs               explaining,               you               can               bet               its               horse*bleep*.

Let's               first               dissect               what               a               tradable               security               is,               Traders               Log               explains               it               as               generally               a               transferable               instrument               representing               an               ownership               interest               in               a               corporation               (equity               security               or               stock)               or               the               debt               of               a               corporation,               government               or               organization.

So               in               reality               it's               basically               some               made               up               "product"               that               isn't               really               a               product               at               all,               it's               just               a               piece               of               paper               with               a               title               and               the               supposed               money               behind               this               piece               of               paper               is               a               pool               of               other               pieces               of               paper.

Unfortunately               the               consumers               who               they               hoped               they               didn't               financial               bleed               all               the               way,               stopped               making               payments               on               their               mortgages,               home               loans,               credit               loans,               etc...due               to               insufficient               wages               and               a               poor               job               environment.

So               now               the               pieces               of               paper               backing               the               other               pieces               of               paper               aren't               worth               the               pieces               of               paper               they               are               printed               on               -               and               that's               when               an               ABS               becomes               toxic.
               Troubled               Assets:               Includes               mortgages,               mortgage-related               instruments,               and               any               other               financial               instruments               whose               purchase               or               assistance               in               the               form               of               government               money               is               determined               by               Treasury               in               order               to               stabilize               the               financial               markets,               also               known               as               Toxic               Assets.
               THE               REAL               SCOOP:               Usually               pools               of               ABS               or               side               bets               off               of               a               group               of               other               bets               that               are               now               toxic               not               because               they               are               not               worth               anything,               but               they               are               just               not               worth               what               the               banks               and               investors               would               like               them               to               be               worth               right               now.

Treasury               and               their               cronies               on               Wall               Street               and               at               the               Federal               Reserve               can               hand               pick               and               buy               up               any               financial               institution               they               see               as               failing               because               of               these               under-performing               troubled               assets,               and               not               let               that               institution               take               the               free               market               course               of               bankruptcy               and               dissolve               like               all               failed               businesses               do               in               a               real               free               market.
               Securitization:               A               process               whereby               a               financial               institution               assembles               pools               of               cash-flow-producing               assets               (such               as               loans)               and               then               sells               an               interest               in               the               cash               flows               as               securities               to               investors.
               The               Real               Scoop:               Another               part               of               the               crap               equation               used               by               Wall               Street               to               implode               our               economy.

Basically               a               mortgage/bank               company               sells               100               loans               to               you               and               me,               the               American               citizen.

Another               unrelated               financial               institution               says               to               the               mortgage/bank               company               we'll               buy               those               100               loans               for               the               price               of               the               loan               plus               4%               interest,               mortgage               company               says               okay               and               they've               made               a               pretty               heft               profit               and               don't               have               the               risk               of               those               loans               on               their               balance               sheets               and               can               offer               another               100               loans               and               on               and               on.

The               financial               institution               is               happy               because               they               could               never               sell               those               loans               themselves               since               they               don't               really               have               the               assets               to               back               them               up               if               they               fail,               plus               now               the               financial               institutions               receives               monthly               payments               from               the               borrowers               which               is               above               the               4%               interest               they               paid               on               the               loans               to               the               bank               and               packages               the               interest               made               on               those               payments               as               Securities               to               investors.

So               when               the               100               loans               made               to               people               who               probably               can't               afford               them               especially               since               the               value               of               the               mortgage               is               well               above               the               value               of               the               home               the               Securities               begin               to               weaken               and               the               investor               eventually               loses               when               the               interest               investment               stream               slows               down               or               stops               due               to               borrowers               defaulting               on               their               fraudulent               loans.

Financial               Institution               aren't               as               happy               as               they               could               be,               but               they               still               have               the               original               loan               sometimes               referred               to               as               a               toxic               asset,               and               they               have               the               government               to               bail               them               out               so               they               don't               go               bankrupt               -               the               investor               and               the               lied               too               borrower               suffer,               and               you               and               I               have               no               choice               but               to               go               bankrupt.

Since               the               banks               were               creating               mortgage               loans               like               burgers               at               McDonalds,               once               the               Securities               stream               got               backed               up               the               banks               were               still               in               full               production               on               leeching               the               American               public               and               got               caught               with               a               handful               of               bad               loans               and               mortgages               they               could               no               longer               off               load               to               the               financial               institutions               packaging               them               as               Securities,               and               now               the               whole               banking               system               is               like               one               clogged               up               very               toxic               colon               full               of               *bleep*!.
               Subprime               Borrowers:               Refers               to               borrowers               who               do               not               qualify               for               prime               interest               rates               because               they               exhibit               one               or               more               of               the               following               characteristics:               weakened               credit               histories               typically               characterized               by               payment               delinquencies,               previous               charge-offs,               judgments,               or               bankruptcies;               low               credit               scores;               high               debt-burden               ratios;               or               high               loan-to-value               ratios.
               The               Real               Scoop:               I               love               how               the               government,               financial               institutions               and               anyone               associated               with               issuing               bad               loans               is               trying               to               turn               the               responsibility               on               us               the               citizens               they               supposedly               serve;               who               are               just               seeking               shelter               a               basic               necessity.

They               love               saying               the               borrower               wasn't               qualified,               which               is               crap,               being               a               subprime               borrower               is               over               70%               of               the               country               due               not               to               delinquencies               and               not               paying               on               time,               most               of               us               do               that.

We               live               in               a               debt               economy,               where               your               debt               to               income               ration               is               artificially               kept               high               so               you               can               never               qualify               for               lower               interest               rates;               it's               not               in               the               best               interest               of               the               financial               institutions               to               do               that.

They               keep               you               at               the               limit               in               order               to               maintain               a               high               monthly               payment               from               you               over               very               long               payout               terms.

Our               credit               scores               are               artificially               kept               low               because               we               as               a               nation               do               not               make               enough,               we               average               $37,000               a               year               you'll               never               have               a               score               above               750               making               only               $37,000               a               year               -               your               debt               to               income               ratio               will               not               allow               it,               and               throw               in               the               fact               that               your               mortgage               is               worth               more               than               the               property               (asset),               your               loan-to               asset               value               ratio               will               never               allow               you               to               qualify               for               prime               rates.
               Mortgage               Holders:               Lender               or               investor               (depending               on               whether               the               mortgage               is               securitized)               who               owns               the               right               to               the               borrower's               monthly               payments.
               The               Real               Scoop:               If               you               ever               find               yourself               in               mortgage               trouble               and               end               up               at               your               wit's               end               and               in               court,               ask               them               to               "Produce               the               Note".

Referring               to               your               mortgage               loan,               they               most               likely               won't               be               able               to               do               it,               because               they               have               pooled               your               loan               with               many               other               loans               numerous               times               and               cut               those               pools               into               so               many               pieces               that               it               is               impossible               to               find               one               holder               or               any               of               the               holders               at               this               point.
               Derivative               Instruments:               Investments               that               are               valued               by               reference               to               the               values               of               other               investments.

Examples               include               options               and               credit               default               swaps.
               The               Real               Scoop:               Another               major               contributor               to               the               scam               being               pulled               on               the               American               public.

These               are               investments               based               on               other               investments               which               means               once               again,               banks               are               creating               wealth               from               nothing,               which               is               ridiculous.

You               had               numerous               corporation,               banks,               and               individuals               both               domestic               and               foreign               making               side               bets               that               you               and               I,               the               American               Citizen,               would               fail               to               pay               our               mortgages.

While               making               these               bets               they               were               artificially               inflating               the               housing               market               and               lobbying               Congress               to               reduce               regulation               rules               on               who               could               qualify               for               a               really               big               home               loan               -               which               led               to               a               number               of               mortgage               companies               creating               funny               things               like               Interest               Arms               and               other               schemes               being               passed               out               like               candy               to               anyone               with               any               kind               of               job.

So               a               lot               of               people,               looking               for               shelter               and               a               home               to               build               a               life               out               of               (which               is               just               human               nature)               bought               into               to               scam               and               tried               to               make               it               work.

In               the               mean               time,               these               same               folks               who               bet               on               us               failing               watched               all               the               interest               arms               kick               in               and               waited               patiently               for               what               they               bet               on               too               happen               would               happen.

Unfortunately               for               all               of               us,               when               all               these               imaginary               investments               based               on               home               mortgages               crumbled               with               the               housing               bust,               the               banks               had               all               these               imaginary               investments               that               were               worth               nothing               and               their               real               portfolio               of               mortgages               and               other               loans               weren't               being               paid               back               and               the               sky               fell               on               a               number               of               financial               institution               engaged               in               something               that               use               to               be               illegal               that               is               now               known               as               credit               default               swaps.

So               if               any               politician               seeking               your               vote               says               he               or               she               is               for               Derivative               trading,               don't               vote               for               him               or               her,               derivatives               are               bad               for               a               capitalistic               economy               and               are               full               of               moral               hazard.
               Bad               Bank:               An               entity               (the               "bad               bank")               that               is               legally               separated               from               the               bank               that               created               it               (the               "good               bank")               and               into               which               are               placed               problem               loans               (or               other               troubled               assets).

Usually               created               by               banks               to               clean               up               their               balance               sheets.
               The               Real               Scoop:               Don't               you               wish               you               had               a               bad               wallet,               and               this               wallet               was               separate               from               the               good               side               of               your               wallet               even               though               it               resided               under               the               same               ass               cheek?

And               inside               this               "separate"               wallet               the               benevolent               government               would               give               you               close               to               0%               loans               to               pay               off               the               bad               side               of               your               wallet               for               all               the               dumb               s**t               you               wasted               your               money               on.

At               the               same               time,               the               Federal               Reserve,               allows               you               to               fractionalize               those               loans               the               government               is               giving               you,               meaning               they               can               lend               that               money               (our               tax               dollars),               over               and               over               again               to               you               and               I               at               interest               rates               anywhere               between               4-30%               (anything               above               7%               use               to               be               known               as               usury               until               congress               in               the               80s               started               making               babies               with               Wall               Street).

So               now               we               get               to               pay               the               banks               interest               on               the               money               our               government               bailed               them               out               with               using               our               tax               dollars,               so               the               banks               can               make               a               profit               and               pay               our               government               back               the               money               you               and               I               supplied               them               with               by               issuing               credit               and               loans               with               usury               interest               rates               and               obscene               fees               and               hidden               charges.

Wow,               bad               banks               really               are               bad.
               Mortgage-Backed               Securities               or               MBS:               A               set               of               similar               mortgages               bundled               together               by               a               financial               institution               and               sold               as               one               security               -               a               type               of               ABS.
               The               Real               Scoop:               MBS               should               be               know               as               "I               can't               believe               it's               not               crap";               because               these               packages               of               high               risk               bad               loans               stuck               on               the               backs               of               a               few               good               loans               to               create               a               false               triple               A               rating               from               the               corrupt               rating               agencies               for               these               security               packages               pretty               much               brought               down               the               financial               markets,               coupled               with               the               first               part               of               the               fraud               which               was               to               artificially               created               a               housing               bubble               in               order               to               create               MBS               packages               that               would               make               billions               for               all               in               on               the               scam               and               cost               America               it's               shot               at               the               home-owner               dream.
               Legacy               Assets:               Also               known               as               troubled               assets,               legacy               assets               are               real               estate-related               loans               and               securities               (legacy               loans               and               legacy               securities)               that               remain               on               banks'               balance               sheets               and               that               have               lost               value,               but               are               difficult               to               price               due               to               the               recent               market               disruption.
               The               Real               Scoop:               Once               again               creating               redundant               terminology               in               an               attempt               to               confuse               and               over               complicate.

Legacy               assets               are               only               troubled               assets               in               depressed               markets,               if               the               market               rebounded               and               the               housing               prices               recovered               these               legacy               assets               would               probably               be               profitable               again               -               but               since               they               aren't               profitable               right               now               and               not               creating               the               revenue               stream               they               use               too,               banks               wants               us               to               purchase               them               off               their               books               so               they               get               paid               and               we               hold               the               risk.
               Legacy               Loans:               Underperforming               real               estate-related               loans               held               by               a               bank               that               it               wishes               to               sell,               but               recent               market               disruptions               have               made               difficult               to               price.
               The               Real               Scoop:               Banks               can               accept               'other               real               estate               related               collateral'               to               cover               loans               they               are               issuing.

The               problem               is               these               real               estate-related               collateral               have               been               improperly               assessed               or               fraudulently               strengthen               to               make               the               numbers               work               on               some               excel               sheet.

Since               the               real               estate-related               loans               are               backed               by               misjudged               assets               that               no-longer               cover               the               initial               loan               and               if               the               initial               loan               goes               bad               or               made               unsellable               like               they               are               now               in               our               current               market,               the               banks               aren't               making               as               much               cash               as               their               greedy               coal-hearts               require               and               they               shut               lending               down               to               make               all               of               us               feel               their               financial               pain               until               we               give               in               and               give               them               trillions               of               our               dollars               to               right               their               books.
               Legacy               Securities:               Troubled               real               estate-related               securities               (residential               mortgage-backed               securities               (RMBS),               commercial               mortgage-backed               securities               (CMBS),               and               asset-backed               securities               (ABS)               lingering               on               institution's               balance               sheets               due               to               an               inability               to               determine               value.
               The               Real               Scoop:               Like               their               toothless               cousin               the               Legacy               Loan,               Legacy               Securities               are               just               packaged               Legacy               Loans               that               aren't               selling               for               what               the               banks               want,               so               Treasury               is               going               to               sell               them               to               us,               the               public,               because               we               would               want               something               the               banks               consider               dead               dogs....right?
               Systemically               Significant:               A               financial               institution               whose               failure               would               impose               significant               losses               on               creditors               and               counterparties,               call               into               question               the               financial               strength               of               other               similarly               situated               financial               institution,               disrupt               financial               markets,               raise               borrowing               costs               for               households               and               businesses,               and               reduce               household               wealth.
               The               Real               Scoop:               The               Bush               Administration               had               some               funky               terrorist-color               code;               this               Obama               Administration               has               'systemically               significant'               nonsense               to               scare               us               into               handing               over               our               hard               worked               dollars               so               we               can               be               forced               into               paying               off               a               small               number               of               deceitful               people               while               they               continue               to               reduce               our               quality               of               life               and               wages.
               Illiquid:               Assets               that               cannot               be               quickly               converted               to               cash.
               The               Real               Scoop:               Assets               can               be               anything               from               a               million               dollar               painting               purchased               by               the               corporation               for               decoration               in               some               executive's               office               or               it               could               mean               a               stinky               loan               that               has               gone               bad               and               is               now               worthless,               but               may               be               worth               something               in               the               future               making               it               unable               to               be               converted               into               cash               or               at               least               the               amount               of               cash               those               holding               it               believe               it               to               be               worth               at               this               time.
               Insolvent:               A               condition               where               a               financial               institution               has               liabilities               that               exceed               its               assets.

By               definition,               shareholders'               equity               in               such               a               situation               will               be               negative.
               The               Real               Scoop:               Financial               Institution               through               deceptive               book-keeping               and               all               out               fraud               in               many               cases               have               deceived               share               holders               and               cannot               cover               the               loans               and               bets               they               made               and               are               now               holding               our               economy               hostage               for               their               bad               decision,               and               for               some               reason               our               government               believes               these               institution               cannot               go               bankrupt               or               else               all               hell               will               break               loose               here               on               earth.
               Secondary               Market:               Created               when               banks               sell               a               portion               of               their               loans               to               a               dealer               who               then               pools               the               loans               together               and               sells               portions               of               the               loan               pools               as               securities               to               investors.

The               secondary               market               serves               as               a               source               of               cash               for               banks,               providing               them               money               to               make               new               loans.
               The               Real               Scoop:               Now               this               is               why               people               hate               bankers               and               "wizards"               in               the               financial               world,               that               do               nothing               more               than               create               wealth               out               of               their               back-side.

Banks               who               already               over-leverage               through               fractional               reserve               banking               are               now               able               to               sell               a               portion               of               a               loan,               thus               reducing               their               risk               by               the               portion               off-loaded               to               this               middle-man               who               creates               loan               pools               to               be               sold               as               securities,               and               the               middle-man               loves               it               because               he               is               getting               reduced-interest               rate               loans               to               package               and               sell               for               a               profit,               and               the               investor               loves               the               dividends               off               their               investment               when               times               are               going               swell               -               too               bad               its               all               based               on               imaginary               money               and               when               times               are               bad               and               people               want               that               imaginary               money,               the               secondary               markets               crash               hard               because               it               doesn't               exist,               unless               of               course               Daddy               Warbucks               Geithner               or               J.P.

Bernake               write               them               a               nice               check               with               our               tax               dollars               to               uncook               their               books.
               Special               Purpose               Vehicle               ("SPV"):               An               entity               whose               operations               are               limited               to               the               acquisition               and               financing               of               specific               assets.
               The               Real               Scoop:               Treasury               is               creating               the               ability               for               companies               to               purchase               these               legacy               loans               through               an               auction               process,               of               course               regulated               by               either               Treasury               or               the               Federal               Reserve,               and               you               can               bet               that               you               and               I               out               on               the               streets               won't               be               invited               to               participate.

These               SPVs               can               purchase               these               legacy               loans               with               loans               from               our               government               that               will               be               backed               by               the               FDIC,               and               they               will               be               matched               dollar-for               dollar               with               TARP               funds               to               buy               these               assets               that               most               likely               will               be               profitable               in               5               years               once               the               markets               recover               and               begin               growing               again.

So               these               specially               picked               SPVs               will               not               only               get               a               loan               where               every               dollar               they               put               up               will               be               matched               by               our               tax               dollars,               if               they               fail               to               pay               off               this               loan               which               is               being               used               to               purchase               other               loans,               the               FDIC,               with               our               tax               dollars               will               bail               them               out               -               wish               I               had               a               SPV.
               Trust               Preferred               Security:               A               security               that               has               both               equity               and               debt               characteristics.

Trust               Preferred               Security               is               created               by               establishing               a               trust               and               issuing               debt               to               the               new               trust.

A               company               would               create               a               trust               preferred               security               to               realize               tax               benefits,               since               the               trust               is               tax               deductible.
               The               Real               Scoop:               The               above               definition               is               offensive               in               its               deceptiveness.

A               Trust               Preferred               Security               (TPS)               created               by               the               Federal               Reserve               in               1996               is               the               next               shoe               to               drop               in               this               financial               meltdown,               and               is               another               made               up               practice               to               benefit               the               banks               at               the               people's               risk.

Banks               can               create               pools               of               debt               and               credit               in               one               mocked               up               full               of               crap               nonsense               pool               of               assets               that               has               extremely               long               pay               outs,               offers               tax               deductions               and               is               the               Frankenstein               of               bad               banking               practices.

In               1999               the               Clinton               Administration               Treasury               Department,               argued               that               TPS               masks               the               debt               in               an               offering               and               therefore               mislead               the               investors               about               the               potential               risks               of               the               firm,               as               well               as               creating               a               loss               of               revenue               to               the               federal               government;               too               bad               a               lot               of               the               Clinton               Administration               was               in               bed               with               Wall               Street               or               else               someone               might               have               listened.

TPS               also               create               false               T1               readings               that               investors               use               when               determining               the               "supposed"               health               of               an               institution,               and               with               the               TPS               issuing               by               banks               going               up               every               year               since               the               Federal               Reserve               has               permitted               the               act,               the               banks               that               created               the               most               TPS,               thus               deceiving               the               investors               with               a               false               bill               of               health               and               they               became               invested               in               heavily               and               reaped               the               rewards               over               banks               that               had               a               lower               ratio               of               TPS               and               in               were               actually               the               stronger               bank.

Most               banks               use               TPS               to               restructure               capital,               meaning               moving               assets               from               one               group               of               bad               bets               to               a               group               of               not               so               bad               bets               in               an               attempt               to               make               more               money               and               make               the               bad               bets               not               look               so               bad               so               they               can               sell               it               off               to               the               next               sucker               in               line.

Usually               practiced               by               companies               that               are               generally               doing               poorer               than               expected               and               wish               to               stabilize               future               performance               of               their               assets.
               TALF               Process:               TALF               (Term               Asset-backed               Securities               Loan               Facility)               is               part               of               TARP               (Troubled               Asset               Relief               Program)               works               when               an               eligible               borrower               contacts               a               primary               dealer               about               receiving               a               TALF               loan.

The               primary               dealer               submits               to               The               Bank               of               New               York               Mellon               (BNYM),               who               are               a               global               bank,               a               request               for               a               loan               for               the               borrower               and               the               borrower's               pertinent               information.

If               BNYM               approves               the               loan               they               give               the               primary               dealer               a               list               containing               the               borrower's               loan               amount               with               an               extremely               low               interest               rate,               always               much               lower               than               the               interest               rates               they               are               already               receiving               on               all               their               toxic               assets               along               with               the               cost               in               administration               fee               to               create               the               loan.

Now               if               the               borrower               defaults               again               on               this               loan,               they               get               to               keep               the               money,               and               the               Federal               Reserve               Bank               of               New               York               will               acquire               all               their               remaining               worthless               assets               and               the               difference               will               be               charged               off               to               the               U.S.

government.
               The               Real               Scoop:               These               financial               institutions               that               are               in               trouble               and               need               TALF               money               will               get               loans               at               super               low               rates,               rates               you               and               I               would               never               see               even               if               we               had               a               perfect               credit               score.

They               do               this               so               the               amount               of               interest               still               coming               in               on               their               toxic               asset               back               securities               can               pay               for               the               monthly               loan               cost               while               returning               marginal               profits               to               the               financial               institution               that               borrowed               the               money.

If               these               institutions               don't               pay               back               this               debt,               the               Federal               Reserve               Bank               of               New               York               using               our               tax               dollars               will               pay               the               loan               off               for               these               unscrupulous               financial               institutions.

On               top               of               that               BNYM               is               a               global               bank               that               will               profit               through               administration               fees               and               interest               on               all               these               loans,               which               means               we               will               be               paying               foreign               interests               off               anytime               a               company,               which               is               usually               also               a               global               institution               receives               our               tax               dollars               in               TALF               or               TARP               funds.
               Federal               Funds               (Target)               Rate:               The               interest               rate               that               financial               institutions               charge               each               other               for               overnight               loans               of               their               monetary               reserves.

A               rise               in               the               Federal               funds               rate               (compared               with               other               short-term               interest               rates)               suggests               a               tightening               of               monetary               policy,               whereas               a               fall               suggests               an               easing.

The               Federal               Funds               Target               Rate               is               an               interest               rate               goal               set               periodically               by               the               Federal               Open               Market               Committee.
               The               Real               Scoop:               Another               classic               example               of               creating               numerous               names               to               describe               one               thing               in               an               attempt               to               create               an               illusion               of               separation               and               independence.

The               Federal               Open               Market               Committee               is               comprised               of               members               from               the               Federal               Reserve               Banks.

There               is               no               difference               between               the               Federal               Reserve               and               the               Federal               Open               Market               Committee.

Furthermore               when               the               Fed.

alters               the               Federal               Funds               Target               Rate               they               essentially               reduce               or               increase               the               amount               of               money               and               credit               in               the               system.

This               is               why               we               keep               having               bubbles               and               bursts               because               they               see               trouble               or               prosperity               and               over               compensate               one               way               or               another               with               their               meddling               on               the               Federal               Funds               Rate               -               one               of               the               biggest               flaws               in               Keynesian               economics.
               EESA:               Emergency               Economic               Stabilization               Act               of               2008,               a               law               enacted               to               response               to               the               global               financial               crisis.

This               act               created               TARP               and               authorized               Treasury               to               spend               up               to               $700               billion               to               purchase               troubled               assets.
               The               Real               Scoop:               Congress               who               have               had               their               campaigns               heavily               financed               by               the               financial               sectors               for               the               past               several               years,               got               together               to               create               an               unprecedented               act               to               use               our               tax               dollars               to               assist               domestic               and               global               financial               entities.
               Targeted               Investment               Program               or               TIP:               A               direct-investment               program               through               which               Treasury               can               invest               in               institutions               whose               failure               would               threaten               similar               institutions               and               the               economy               in               general.
               The               Real               Scoop:               Even               though               Treasury               already               had               unprecedented               powers               bestowed               upon               him               under               TARP,               he               thought               it               was               necessary               to               create               a               side               program               where               he               alone               decides               which               institutions               will               receive               direct-investments               not               loans               but               investments.

Timmy,               get               your               hand               out               of               my               pocket!
               Financial               Stability               Plan               or               FSP:               A               Dept.

of               Treasury               plan               to               stabilize               and               repair               the               financial               system,               and               support               the               flow               of               credit               necessary               for               economic               recovery.
               The               Real               Scoop:               Timmy               G               in               all               his               great               wisdoms               and               time               spent               at               the               Federal               Reserve               watching               this               entire               meltdown               happen               before               his               willing               eyes               is               now               going               to               solicited               the               help               of               other               investment               bankers               that               created               the               problem               to               come               up               with               a               plan               to               stabilize               and               repair               their               mess               on               our               dime               so               they               can               do               it               all               over               again               at               a               later               time.
               Asset               Guarantee               Program               or               AGP:               An               insurance-like               program               which               allows               Treasury               to               assume               a               loss               position               on               certain               troubled               assets               held               by               qualifying               financial               institution.
               The               Real               Scoop:               Treasury               is               busy               creating               every               possible               program               under               the               sun               in               order               to               bail               out               these               financial               institutions               no               matter               how               fraudulent               or               corrupt               their               business               is.

If               Treasury               doesn't               give               you               TARP               funds,               it               may               invest               through               TIP               or               TALF               and               if               neither               happens               and               your               financial               institution               still               fails               they               will               help               you               out               through               AGP               -               if               you               are               a               working               American               and               you               don't               pay               your               bills               or               made               bad               bets               there               aren't               any               programs               for               you.
               Qualifying               Financial               Institutions               or               QFIs:               Private               and               public               U.S.

controlled               banks,               savings               associations,               bank               holding               companies,               and               certain               savings               and               loan               holding               companies.
               The               Real               Scoop:               Qualifying               as               if               Qualifying               is               a               concrete               meaning               with               rigid               structures               of               checks               and               balances.

Who               is               in               charge               of               qualifying               these               institutions?

What               are               the               individual               motives               and               attachments               to               these               institutions               by               those               qualifying               them?

Who               is               keeping               checks               and               balances               on               the               qualifiers?
               Tier               One               Capital               or               T1:               Common               Equity               +               Preferred               Equity               +               Retained               Earnings               -               Goodwill.
               The               Real               Scoop:               Umm,               is               that               really               the               definition,               some               equation               where               one               of               the               variables               is               Goodwill?

Goodwill               meaning               in               financial               terms,               the               excess               of               purchase               price               over               fair               market               value               of               net               assets               acquired               under               the               purchase               method               of               accounting.

T1               is               also               known               as               "core               capital"               that               is               used               to               determine               the               strength               of               a               bank               or               financial               institution               and               that               suppose               to               measure               the               bank's               ability               to               pay               off               depositor's               demands               while               sustaining               future               losses               in               a               bunky               economy.

T1               was               created               by               the               "Basel               II               Accord"               which               I               suggest               you               all               research               into               as               it's               a               global               cartel               of               bankers               supposedly               regulating               banking,               you               can               figure               out               how               well               that's               working.

So               anyway               T1               capital               is               pretty               much               nonsense               since               it               can               be               manipulated               by               the               Federal               Reserve               or               any               government               purchasing               massive               preferred               shares               from               a               bank               or               financial               institution               creating               a               false               reading               of               the               health               of               these               institutions.
               Tangible               Common               Equity               or               TCE:               Common               Equity               -               Intangible               Assets.
               The               Real               Scoop:               Again               another               equation               from               bankers               to               muck               up               making-sense               of               anything.

TCE               is               supposedly               the               more               conservative               measure               of               capital               adequacy               of               a               bank               or               financial               institution.

Basically               it's               a               measure               of               what               the               banks               or               financial               institutions               would               have               left               after               dissolving               all               creditors               and               higher               levels               of               stock.

TCE               is               suppose               to               give               us               a               more               "real"               look               at               the               solvency               of               a               bank,               but               it               doesn't               include               Preferred               stock               in               its               equation.
               Credit               Protection:               Security               against               losses               on               an               investment.

For               TALF               purposes,               TARP               funding               is               used               as               credit               protection               on               the               Federal               Reserve               loans               (i.e.,               losses               on               the               loans               are               absorbed               by               TARP               funds               up               to               the               commitment               amount.)
               The               Real               Scoop:               When               you               and               I               are               offered               credit               protection               we               are               charged               for               it               and               it               usually               covers               us               on               a               few               missed               monthly               payments.

Since               our               benevolent               government               has               decided               to               raise               bastardized               financial               institutions               with               our               hard               earned               tax               dollars,               the               Federal               Reserve,               i               f               they               choose               can               make               loans               to               an               institution               for               $100               million;               and               if               that               institution               doesn't               pay               it               back               we               the               tax               payers               will               cover               the               full               amount               lent               out               by               the               Federal               Reserve               who               isn't               a               fully               federal               institution               to               begin               with.

So               not               only               is               the               Federal               Reserve               charging               us               interest               on               the               money               we               allow               them               to               print               for               us               the               American               people,               we               are               on               the               hook               for               any               bad               loans               they               make               to               toxic               financial               institutions               -               that's               some               credit               protection!
               Convertible               Preferred:               A               preferred               stock               that               is               convertible               into               common               stock.

In               the               context               of               CAP,               the               conversion               is               at               the               option               of               the               Qualifying               Financial               Institution               until               year               seven               when               it               becomes               mandatory.
               The               Real               Scoop:               This               is               another               classic               example               why               our               financial               system               does               not               work               for               the               majority               of               American               citizens,               those               in               charge               set               up               favorable               conditions               for               banks               and               financial               institutions               at               the               cost               of               the               taxpayers               and               everyday               consumers.

Financial               institution               who               received               government               bailout               money               in               the               form               of               common               shares               are               required               to               pay               our               government               dividends,               so               if               they               convert               their               common               shares               sold               to               the               government               with               our               tax               dollars               to               convertible               preferred               stock,               they               no               longer               have               to               pay               the               government               dividends               and               the               risk               will               be               put               on               the               taxpayer               if               the               institution               fails.
               Senior               Preferred               Stock:               Shares               that               give               the               stockholder               priority               dividend               and               liquidation               claims               over               junior               preferred               and               common               stockholders.
               The               Real               Scoop:               Another               way               for               the               in-crowd               to               receives               preferential               treatment               over               the               common               stockholder.
               Non-Cumulative               Preferred               Shares:               Shares               where               unpaid               dividends               do               not               accure               when               a               company               does               not               make               a               dividend               payment.
               The               Real               Scoop:               Well               for               those               of               us               that               have               no               idea               what               accure               means               in               financial               lingo               we'll               start               there.

Accured               in               financial               terms               means               to               carry               over,               so               if               you               had               a               non-cumulative               share               in               Company               A,               and               they               didn't               pay               you               dividends               even               though               you               should               have               received               them,               you               cannot               sue               Company               A               at               a               later               time               for               said               dividends.

Why               anyone               would               want               non-cumulative               preferred               shares               is               unknown               to               me.
               Bank               Holding               Company               or               BHC:               A               company               that               controls               a               bank.

Typically,               a               company               controls               a               bank               through               the               ownership               of               25%               or               more               of               its               voting               securities.
               The               Real               Scoop:               I               love               this               definition               they               refer               to               a               bank               as               if               it's               an               individual               entity               and               not               a               company               just               like               the               company               that               controls               them.
               Savings               and               Loan               Holding               Company               or               SLHC:               A               company               (other               than               a               BHC)               that               controls               a               savings               association.
               The               Real               Scoop:               Through               numerous               deregulations               and               the               allowance               for               financial               service               companies               to               merge               with               other               investment               companies               and               insurance               companies               to               create               banks               that               aren't               special               in               any               way               and               in               fact               have               thrown               out               the               idea               of               safety               and               soundness               in               their               lending               practices.

Because               the               illusion               of               separation               is               required               we               have               the               SLHC               term,               but               you               can               look               at               both               BHC's               and               SLHC's               in               the               same               manor.
               Ring-fencing:               Segregating               assets               from               the               rest               of               a               financial               institution,               often               so               that               the               assets'               problems               can               be               addressed               in               isolation.
               The               Real               Scoop:               This               is               bull               doo               doo!

Ring-fencing               is               another               term               used               to               explain               "bad               banks"               -               since               you               and               I,               the               American               public,               didn't               like               the               term               "bad               bank"               and               we               are               perceived               to               be               too               stupid               to               understand               that               ring-fencing               is               just               that               same               thing               as               creating               a               "Bad               Bank"               (see               definition               above),               our               government               has               decided               to               use               the               more               gentle               term,               ring-fencing               instead.
               Exchange:               In               reference               to               Citigroup               agreement,               taking               one               type               of               stock               (i.e.

preferred)               and               converting               it               at               a               specific               rate               to               another               type               of               stock               (i.e.,               common).
               The               Real               Scoop:               Citigroup               taking               their               risk               and               converting               it               to               tax               payer               risk,               end               equation,               we               get               stuck               for               the               bill,               Citigroup               makes               billions.
               Covered               Asset:               An               asset               owned               by               Citigroup               or               any               of               its               subsidiaries               that               is               included               in               the               ring-fence.
               The               Real               Scoop:               Companies               have               toxic               assets,               which               are               also               known               as               a               covered               asset               that               has               been               moved               to               an               imaginary               "bad               bank"               or               has               been               ring-fenced               on               the               company's               balance               sheets.

Redundant               words               to               explain               very               simple               scams               seem               like               all               these               experts               are               good               at               doing.
               Non-Recourse               Loan:               A               secured               loan               whereby               the               borrower               is               relieved               of               the               obligation               to               repay               the               loan               upon               the               surrender               of               the               collateral.
               The               Real               Scoop:               Once               again               our               benevolent               government               ran               by               the               Federal               Reserve               is               quick               to               cuddle               one               of               their               failing               financial               institutions               and               will               loan               these               institutions               money               to               pay               off               their               toxic               assets               that               have               now               become               covered               assets.

If               the               financial               institution               still               can't               pay               back               the               government               on               this               non-recourse               loan               then               the               Federal               Reserve               will               absorb               90%               of               the               loan               to               help               pay               it               off               up               to               $10               billion               dollars               with               our               tax               dollars.
               Senior               Oversight               Committee               ("SOC"):               Consists               of               Citigroup's               Chief               Financial               Officer,               Chief               Risk               Officer,               General               Counsel,               Controller,               Chief               Accounting               Officer,               and               the               Treasurer.
               The               Real               Scoop:               The               same               folks               who               came               up               with               these               sophisticated               and               complex               financial               tools               that               brought               down               the               economy               with               the               help               of               those               who               oversaw               and               were               suppose               to               regulate               it               (Timothy               Geithner               head               of               New               York               Federal               Reserve               2000-2006)               are               now               going               to               put               on               their               serious               faces               and               thinking               caps               and               make               sure               nothing               like               this               ever               happens               again               -               or               at               least               for               another               10-15               years               like               it               always               will               in               a               debt               slavery               economy.
               Derivative               Asset:               An               asset               whose               stated               value               or               cash               flow               is               determined               by               reference               to               the               value               or               cash               flow               of               another               asset               (the               "underlying               asset").
               The               Real               Scoop:               Let's               say               a               financial               institution               makes               a               bet               for               $50               that               you               will               fail               on               your               mortgage               over               the               next               5               years.

The               underlying               asset               being               the               mortgage               loan               and               the               derivative               asset               being               how               much               the               financial               institution               is               going               to               win               if               the               bet               comes               in               and               you               default               on               your               mortgage.
               Second               Lien               Debt:               Is               subordinate               to               a               senior               claim               on               the               same               collateral.
               The               Real               Scoop:               The               above               definition               is               once               again               inadequate               to               say               the               least.

A               second               lien               debt               is               all               the               loans               created               off               a               loan               you               already               have               -               such               as               a               second               mortgage               or               home               equity               loan.

Instead               of               refinancing               your               mortgage               with               one               loan,               its               was               much               more               profitable               to               hit               you               with               two               loans               of               different               pay               out               times               and               varying               interest               rates               creating               a               more               heartier               stream               of               revenue               to               the               financial               institutions               holding               the               loans.
               Securities               Issuer:               A               separate               legal               entity               that               buys               cash-flow-producing               assets               such               as               loans,               pools               them               together,               and               sells               portions               of               the               pools               of               loans               as               securities.
               The               Real               Scoop:               Just               another               name               for               a               financial               institution               most               likely               owned               somewhere               down               the               line               by               the               same               banks               issuing               the               mortgages               that               can               sell               the               interest               from               the               loans               as               Securities               for               people               to               invest               in,               thus               creating               wealth               off               interest               for               the               financial               institutions               who               did               nothing               more               than               create               a               piece               of               paper               with               a               supposed               worth               attached               to               it.
               Pool               Assembler               (issuer):               A               separate               legal               entity               that               buys               cash-flow-producing               assets               such               as               loans,               pools               them               together,               and               sells               portions               of               the               pools               of               loans               as               securities.
               The               Real               Scoop:               Pool               Assemblers,               Derivative               traders               and               even               bankers               practicing               fractionalize               banking               all               exist               on               a               very               faulty               principal,               which               is               centered               on               creating               wealth               from               pieces               of               paper               with               no               inherent               value               and               profiting               off               of               it               until               our               economy               collapses               every               10-15               years.
               Primary               Dealers:               Banks               and               securities               broker-dealers               that               trade               in               U.S.

Government               securities               with               the               Federal               Reserve               bank               of               New               York               for               the               purpose               of               carrying               out               open               market               operations.

The               16               current               primary               dealers               are               BNP               Paribas               Securities               Corp.

/               Banc               of               America               Securities               LLC               /               Barclays               Capital               Inc.

/               Cantor               Fitzgerald               &               Co.

/               Citigroup               Global               Markets               Inc.

/               Credit               Suisse               Securities               (USA)               LLC               /               Daiwa               Securities               America               Inc.

/               Dresdner               Kleinwort               Securities               LLC               /               Goldman,               Sach               &               Co/               Greenwich               Capital               Markets               Inc.

/               HSBC               Securities               (USA)               Inc.

/               J.P.

Morgan               Securities               Inc.

/               Mizuho               Securities,               USA               Inc.

/               Morgan               Stanley               &               Co               Incorporated               /               UBS               Securities               LLC
               The               Real               Scoop:               The               Federal               Reserve               and               its               cartel               like               bank               structure               are               a               main               reason               for               our               current               economic               mess.

Not               only               is               the               Federal               Reserve               not               a               fully               Federal               institution               they               obvious               serve               and               operate               foreign               interest.

This               is               why               there               are               currently               two               measures               in               congress               to               dissolve               the               Federal               Reserve               or               at               the               very               least               audit               this               private               bank,               which               has               never               been               audited,               ever.

Those               bills               are               H.R.

1207               and               H.R.

833,               please               tell               your               statel               representatives               and               senators               to               support               these               very               important               measures               to               restore               balance               to               our               economy               and               way               of               life               again.

If               they               don't               support               it,               you               can               bet               they               are               in               on               the               take               and               should               be               swiftly               voted               out               of               office               next               election               cycle.
               Call               Report:               Quarterly               report               of               financial               condition               commercial               banks               file               with               their               Federal               and               state               regulatory               agencies.
               The               Real               Scoop:               Only               the               banking               commissioner               can               order               these               banks               to               make               public               their               Call               Reports,               I               wouldn't               hold               your               breathe.
               Custodian               Bank:               The               bank               that               holds               the               collateral               and               manages               the               accounts               for               the               Federal               Reserve               Bank               of               New               York.
               The               Real               Scoop:               If               the               Federal               Reserve               Bank               of               New               York               is               a               private-federal               run               institution               -               who               the               hell               is               managing               the               accounts               and               holding               their               collateral               and               are               they               private               or               for               profit,               and               are               they               foreign               based?
               Synthetic               ABS:               A               security               that               derives               its               value               and               cash               flow               from               sources               other               than               from               a               physical               set               of               reference               assets.
               The               Real               Scoop:               When               you               are               creating               synthetic               piece               of               bull               droppings               you               know               you               are               in               one               messed               up,               greedy,               scam               and               fraudulent               filled               economy.

Basically               synthetic               asset               backed               securities               are               created               through               credit               default               swaps               and               derivative               trading               full               or               moral               hazards               and               bad               for               any               free               market               economy.
               London               Interbank               Offered               Rate               ("LIBOR"):               The               interest               rate               that               large               banks               in               London               charge               each               other               for               dollar-denominated               funds.
               The               Real               Scoop:               Just               another               way               the               banks               have               separated               themselves               from               the               rest               of               us               -               when               we               need               a               loan               we               get               one               from               a               bank               at               a               pretty               high               interest               rate,               when               banks               loan               money               to               one               another               the               interest               charged               is               well               below               the               market               price               and               this               is               thought               of               as               a               generally               accepted               standard               in               the               banking               world.
               Professional               Forecasters:               The               three               forecasters               used               for               the               purpose               of               the               stress               test               were               the               Consensus               Forecasts,               the               Blue               Chip               Survey,               and               the               Survey               of               Professional               Forecasters.
               The               Real               Scoop:               Consensus               Forecasts               is               part               of               the               Consensus               Economics               Corporation               and               basically               tallies               up               opinions               from               economist               from               around               the               world               and               produces               a               forecast               off               of               those               opinions.

Blue               Chip               Survey               basically               does               the               same               thing               but               with               fewer               economists               polled               and               the               same               can               be               said               for               the               Survey               of               Professional               Forecasters               -               this               isn't               some               full-proof               or               highly               accurate               forecast               as               they               all               have               been               wrong               numerous               times               throughout               their               long               term               histories.
               Collateralized               Debt               Obligation:               A               security               that               entitles               the               purchaser               to               some               portion               of               the               cash               flows               from               a               portfolio               of               assets,               which               may               include               bonds,               loans,               mortgage-backed               securities,               or               other               CDOs.
               The               Real               Scoop:               When               debt               is               the               main               income               creator               on               any               financial               instrument               or               agreement               you               are               no               longer               in               a               capitalistic               market               you               are               in               a               debt-slavery               market.
               7(a)               Program:               Small               Business               Administration               loan               program               guaranteeing               a               percentage               of               loans               for               small               businesses               that               cannot               otherwise               obtain               conventional               loans               at               reasonable               terms.
               The               Real               Scoop:               Financial               institutions               and               any               small               business               under               the               7a               Program               get               loans               at               reasonable               terms               -               you               and               I               get               usury               loans,               which               do               not               have               reasonable               terms               and               that               take               years               to               pay               off.

I               think               it's               about               time               for               our               government               to               create               the               '90               million               Us-Program'               to               help               the               working               American               out.






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