Dallas Fed President Wants to Break Up the TBTF Banks

Editor’s Note: It couldn’t be more obvious than if we were slapped in the face. We have 12 banks that are characterized as Too Big To Fail and that is controlling or economic and fiscal policies. We have created a class of untouchables — a new height to which nobody before you aspire.

Our country is run on credit effecting the financial system, energy resources, medical care and education to name a few. Fisher is 100% right that the system is leaning, as usual, away from community banks, credit unions and savings and loan associations (7,000 of them in the U.S. alone). Instead it leans toward the 12 banks that caused cataclysmic failure of our economy and financial system.

As long as we build our policies, laws, and regulations around an unsound premise — TBTF — we are absolutely certain to have another collapse, worse than the last one.

Click on the link below to see the interview.

Richard Fisher’s plan.

‘The system is biased towards Goldman Sachs and JPMorgan.’

Excellent Bloomberg interview.  Dallas Federal Reserve President Richard Fisher details his plan to break up the banks.  Here’s a quick summary:

  • There are 12 banks that meet the criteria for too big to fail.
  • Dodd-Frank is killing small community banks.
  • Fed is constantly reassessing stimulus.
  • QEternity is false.  Will not last forever.
  • Voted against latest round of QE.
  • Worried about Treasury bubble bursting.
  • Worried about Fed’s exit strategy.
  • Biggest inflation hawk on the Fed and he sees little inflation.

http://dailybail.com/home/why-a-fed-president-wants-to-break-up-the-banks.html

30 Responses

  1. Homeowners actually were robbed of QUADRILLIONS backed by our initial stakeholder investment of $12 TRILLION DOLLARS…..

  2. CNBC REPORTING THE FED ROBBERY IN PROGRESS & THIS IS HOW THEY DO IT…….Original home value….$300,000.00 HOMEOWNERS ACTUALLY PAID MILLIONS………. ACTUAL VULTURE CAPITALIST SALE PRICE…..$127,000.00……..

  3. TBTF IS TOTALITARIANISM ..SO IS OBAMACARE….AND SO IS RE-SOCIALISM ….OF UNSUSTAINABLE DEBT CREATED BY WALL STREET BANKSTERS….SO IS RE DISRIBUTION OF WEALTH…TAKING OUR WEAPONS…..IT IS COMPLETE COMMUNISM DISGUISED AS SOCIAL JUSTICE….

  4. I believe the economy has contracted poppy ……all these crooks are doing in reality is stealing……The 2% they consider “growth” is our theft by these totalitarian dictator crooks.

  5. CNBC reported 2% growth in the economy

    I read the economy “contracted” 1.3%….Oh my, where’s the truth?

  6. That’s right poppy and their lying has a name… totalitarianism ….. fraudclosure won’t matter when no one can afford to pay for anything anymore …..the FED are destroying the economy with their money printing for themselves and their criminal friends at zero interest causing inflation/deflation for us and the traitor politicians are taxing and spending us out of our wealth, property and freedom. An attorney told me when half the country stops paying these crooks the mortgage, that will mean no one is paying these crooks the mortgage…..That will be the day Obama, the tyrant dictator announces America is broke…..LIAR…..The truth will be we were robbed into fraudulently induced hell ….totalitarianism by the bank owner crooks and the traitor politicians …..Then the crooks will offer to “fix” the mess they caused by offering us totalitarianism ….. A nation of fraudulently induced debt slaves MICROCHIPPED to the banksters debt with OBAMACARE ….WE BETTER REJECT THEM AMERICA..or that will be worse than the hell we are living right now……

    Right now these crooks are trying to normalize TOTALITARIANISM ….WE THE PEOPLE BETTER REJECT THAT TOO…

  7. Welcome to manufactured hell on earth…..courtesy of the bank owners & the traitor politicians……..The bank owners want NO GROWTH. The FED are simply liars just like the politicians and the media. They want us to get used to this…..their so called new normal is totalitarianism. They are LIARS & DECEIVERS. Their manufactured economic hell is in reality getting worse. They want to bring everyone to their knees so we beg them for help and we willingly accept totalitarianism…..like Section 8 housing, we agree to rent our own property, shitty jobs working for their Corp, Obamacare……CRADLE TO GRAVE GOVERNMENT CONTROL……

    Yesterday CNBC reported 2% growth in the economy and Bernanke said he will continue the same economic policy until the economy improves…? He is a LIAR and the traitor politicians are “all in” on our destruction.

    This LYING has a name, and it is called TOTALITARIANISM ….it goes on every day. Like in the courtrooms when the bank attorneys and the judges argue complete nonsense at the bench and you know they are LIARS…..

    NOT FOLLOWING THE RULE OF LAW IS CALLED TOTALITARIANISM …

    WHEN THERE IS NO LOGICAL EXPLANATION FOR ANYTHING THAT IS TOTALITARIANISM ……

    AMERICA IS LIVING IN A FRAUDULENTLY INDUCED DICTATORSHIP. THE AMERICAN PEOPLE ARE BEING FRAUDULENTLY CONTROLLED BY TYRANTS WHO ARE THE TRAITOR POLITICIANS WHO ARE BEING CONTROLLED FROM BEHIND THE SCENES BY THE BANK OWNERS BOTH FOREIGN & DOMESTIC…..

  8. CNBC reported the FED are cutting down on their forced fraudclosures…

    lies all of it, stripes!

  9. Neidermeyer,

    Hence the push for a world currency, debt forgiveness in third-world countries and IMF’s increased activity and visibility…

  10. Dallas FED sees no inflation because there is no wage growth , wage decline (in real terms relative to inflation) has been in effect for 30+ years and accelerated in the last 10 , masked by cheaper imported goods… We’re probably not going to see Zimbabwe style hyperinflation in dollar terms because it will just crash , there aren’t enough dollars to sustain it. Instead if that trend starts we’ll just see a complete crash in sales. I see a return of STAGFLATION but at 10x the ferocity we saw in the 1970’s … we are truly at the breaking point with the government policies toward money , the people and the “TBTF” banks.

  11. These crooks are offering you one choice…totalitarianism..Loan mod, underwater (worthless) home values, fraudclosure, short sale, re-fi, hypertaxation, obamacare, all the same outcome….totalitarianism …complete control of you by deceptively making you believe the big lies such as….they lent you money, investment is ownership, a legal contract exists, someone (you) is owed this money, or they own our wealth, liberty & freedom and our natural resources, therefore you have no independence ….. they can very deceptively keep defrauding you.

  12. Please allow me to clarify this complicated mess…..this is a war between good v evil & complete evil. 1 enemy that is deceptive and has 2 main wardrobes communist/socialist and complete communist….they are really one in the same because of the intended failure of socialism in witch they both caused.

  13. The only sad commentary is how you commie trolls still have hope anyone will continue to believe your lies, especially me…

  14. Name calling is useless against U.S. PATRIOTS like myself. WHY..? U.S.PATRIOTS KNOW THE TRUTH…this a war between good evil & total evil…WE THE PEOPLE are up against a secret communist v complete communist war against our Constitutional Republic on U.S. SOIL. The totalitarians created a weakness in the American people through their secret socialist/communist agenda. They saw that weakness in the American people as great enough to achieve their ultimate plan for their totalitarian take over of America. This totalitarian takeover began on 9/11 and is in full throttle. There are 2 enemies we are fighting in this war….the communists and the complete communists. The totalitarian plan has failed miserably because re-socialism of unsustainable debt is totalitarianism and will never be accepted by the American people no matter how much they steal from us and try and impose their will on us.

    Therefore, I have an axe to grind with secret socialists/communists and totalitarians who secretly, deceptively are LIARS wish to defraud me by stealing my Liberty, Freedom and Independence for no reason other than they are selfish, greedy control freaks.

    It is an evil game for them that is no longer concealed from me and I refuse to participate, comply, conform or cooperate with them or it. I have walked out of it and am putting my full faith in the Lord.

    I have complete faith that good will prevail and our Constitutional Republic …..OUR LIBERTY will be restored and we will all be what the Creator meant for all of us to be….FREE AND INDEPENDENT …

  15. And definitely not an attorney. Just a poor rag doll, overwhelmed by her impotence at facing life’s tribulations. Think about what she is putting her own family through and how much damage she’s causing. Sad, sad commentary about what this country has become.

  16. usedkarguy,

    Remember cubed2k? Same here. Increasingly more deranged as time goes by. One more casualty of the banks. It won’t be too long anymore… Pity the poor thing.

    The e-mail address you posted doesn’t work.

  17. stripes, what is really wrong with you? are you the little dweeb attorney who got your ass kicked in court, and so you come here to distract? you haven’t said anything worth repeating. please shut up. please shut up. please shut up.

  18. At the top of the pyramid scheme is supposedly an evil witch who everyone fears…and no one wants to stand up to. The only entity this evil witch fears is the Creator whose SUPREME POWER is enumerated in the UNITED STATES CONSTITUTION…and can only be enforced by the Creator through WE THE PEOPLE or by the Creator. That is the only entity that evil witch and all of her demons fear….the truth is hidden from us and is in the words of the Creator, enumerated in THE U.S. CONSTITUTION….The foreigners …the aliens are in truth, demons who want us to believe they created us and they do live among us. Evil has spread its seed by many deceptions. Do your research….they are an advanced civilization of demons….holy tares so to speak… go to this link….. PAPAL BLOODLINES…
    http://zavernick.blogspot.com/2011/12/papal-bloodlines-html?m=1

  19. How about when the judges tell the people you are foreclosed but you don’t have to leave your house……? WTF….is that supposed to mean you crook…? That’s when the people should tell that crook… screw you …you traitor. I’m not leaving….and if you try to evict me, you will have the blood of an American patriot on your hands. But do they care…? No….that’s what they want….death & destruction.

    CNBC reported the FED are cutting down on their forced fraudclosures…they are down to 5%….CNBC also reported FED financial terrorism is far from over…The bank owners are still very deceptively & deliberating trying to force ALL OF US into fraudulently induced slavery…..they are still very deceptively bankrupting the people by FED INFLATION/DEFLATION…….TAXATION …..THE OBAMACARE SHAM…FORCING EVERYONE TO RE-PAY FOR THEIR OWN ROBBERY…

  20. Been reading this site for a pretty long time. Good articles. Don’t always agree but pretty insightful and a lot of research goes into it. Never thought I’d post. Never needed to. Got plenty of tips from a lot of people. Pretty damn shame what happened to it. Pretty damn shame the owner won’t do anything about it.

  21. Judicial or non Judicial ….it makes absolutely no difference if the judiciary are completely corrupt ….

  22. THE QUESTIONS I HAVE ARE….What are we doing about these KANGAROO COURTS…..who are allowing foreclosures to be brought that don’t even meet the basic threshold requirements at the onset of these faulty & fraudulent complaints…. ? & these obviously sickeningly corrupt judges who aren’t upholding the U.S. CONSTITUTION, STATE OR FEDERAL LAW….THE LEGAL RIGHTS OF THE AMERICAN PEOPLE. …?

  23. THE TRUTH THE MEDIA & THE POLITICIANS ARE REALLY HIDING….? THE FED BANK OWNERS …….A PRIVATE BANKING CARTEL….ARE IN DEFAULT TO WE THE PEOPLE….THE U.S. TREASURY DEPARTMENT FOR GAZILLIONS…

  24. THE TRUTH IS…..THE FED ARE CONCEALING THE FACT THEY ARE IN DEFAULT TO THE U.S. TREASURY DEPARTMENT…..WE THE PEOPLE FOR GAZILLIONS…..THAT IS WHY THEY HIJACKED THE U.S. TREASURY DEPARTMENT…….THE TRUST FOR THE PEOPLES WEALTH AND ARE ALSO CONCEALING THE FACT THEY HAVE HIJACKED THE U.S. TREASURY DEPARTMENT ….. ALL ALLOWED BY THE TRAITORS FROM WITHIN….LIKE 9/11…..AND GUN CONTROL…..THIS IS AN INSIDE JOB…

  25. Tuesday morning the Bloomberg terminal was closed down to lawyers, McDonnell Analytics and Dubin, and all who had paid for access.

  26. You are an evil little troll notmynpv….and I will not go any where until freedom and liberty..AKA..OUR CONSTITUTIONAL REPUBLIC IS RESTORED…AND THIS FRAUD CALLED DEMOCRACY AND THE FED IS ABOLISHED FROM OUR LAND AND ALL TRAITORS ARE REMOVED….WHY? BECAUSE THIS IS OUR COUNTRY….WE THE PEOPLE ARE WHO FOUGHT, DIED, PAID FOR & BUILT IT….AND THESE CROOKS ARE FRAUDULENTLY & DECEPTIVELY DESTROYING IT….

  27. While banks have been pushing very hard to turn judicial foreclosure states into non judicial, the opposite is happening. Elected official are (slowly) passing laws making more difficult to foreclose without a court’s intervention. Progress.

    http://livinglies.wordpress.com/2013/01/30/dallas-fed-president-wants-to-break-up-the-tbtf-banks/#comment-198620

    9.9 Earthquake in Default Servicing Turns California Into Judicial Foreclosure State

  28. This is something both represented and non represented homeowners could and should use, regardless of the state you’re in. It goes back to holding the parties to a contract to their duty under same. I checked my own Fannie/MERS contract (not in FL) and… sure enough! Paragraph 22 does exist and indeed, it is in bold. This is contract law 101. Judges understand it. Banks try to ignore it. it it is in your paperwork, use it and do whatever you need to in order to enforce. Who knows, might get you a dismissal and, at the very least, you will score a few points.

    Understanding the Paragraph 22 Argument

    Posted on January 30th, 2013 by Mark Stopa

    I’ve spoken about it many times, but even now, I’m regularly asked “what is paragraph 22?” I suppose it’s time I give a real-life example and show what all the fuss is about.

    Paragraph 22 of the standard Fannie Mae/MERS mortgage requires the lender give the borrower written notice of any default and an opportunity to cure that default before filing suit. That means, before filing a foreclosure lawsuit – and as a condition precedent to the filing of that lawsuit – the lender is required to send written notice of the alleged default and give the borrower a chance to cure that default. But it’s not enough that any letter be sent – the letter has to contain certain, specified information, as set forth in paragraph 22. Specifically, the letter has to: (a) specify the default; (b) specify the actions required to cure the default; (c) give the borrower 30 days to cure the default; (d) inform the borrower that failure to cure the default may result in: (i) acceleration; (ii) foreclosure by judicial proceeding; and (iii) sale of the property; (e) inform the borrower of the right to reinstate after acceleration; and (f) inform the borrower of the right to assert in the foreclosure proceeding the non-existence of any default or any other defense to foreclosure.

    That sounds technical, and in some ways, it is. However, there is an excellent argument to be made that, under Florida law, if the foreclosure plaintiff failed to send this letter, and the letter failed to specify all of the required information, that the bank cannot prevail and the lawsuit must be dismissed.

    The law has long recognized the validity of conditions precedent in many other contexts. Essentially, where two parties negotiate a contract and agree that one party has to do something before exercising any rights under that contract, the law forces that party to do what he/she promised before seeking those rights. Upholding and enforcing the conditions precedent in a contract makes sense because that’s what the parties agreed. It especially makes sense in a context like this, where the lender drafted the mortgage, and paragraph 22 is the only paragraph in the mortgage that is drafted in bold. Why should the bank get away with failing to comply with conditions precedent in a contract that it drafted when those conditions are drafted in boldface font? Why should the bank be able to sue for foreclosure when it did not do what it promised to do before filing suit?

    There are precious few appellate court decisions that discuss this issue. (Typically, it takes many months for the appellate courts to rule on a relatively new issue like this.) However, Florida’s Second District Court of Appeal has already ruled that a paragraph 22 letter in a foreclosure case was insufficient because the letter did not specify the default. See Judy v. MSMC Venture, LLC, 37 Fla. L. Weekly D. 2711 (Fla. 2d DCA Nov. 28, 2012). Hence, it seems the appellate courts agree with the many learned circuit court judges who have ruled on this issue … defects in the letter, even if the letter was sent, preclude the plaintiff from prevailing.

    Some may argue that dismissal of a foreclosure case is not equitable merely because a letter was defective. Some judges undoubtedly agree. I submit, however, that it is not the courts’ role to rewrite contracts to relieve parties from the burdens to which they agreed. More important than what I think, though, is the Florida Supreme Court’s view – and they agree. See Home Dev. Co. of St. Petersburg, Inc. v. Deeb, 178 So. 2d 113 (Fla. 1965) (“By reconstructing the contract of the parties to accord with what he deemed to be the equities of the situation, the [judge] ignored the well settled rule that ‘courts may not rewrite a contract or interfere with the freedom of contract or substitute their judgment for that of the parties thereto in order to relieve one of the parties from the apparent hardship of an improvident bargain.’”). In fact, the Florida Supreme Court has already said that courts should enforce acceleration clauses in mortgages as they are drafted. See David v. Sun Fed. Savings & Loan Assn., 461 So. 2d 93 (Fla. 1984) (“It is well established in this state that an acceleration clause or promise in a mortgage confers a contract right upon the note or mortgage holder which he may elect to enforce upon default. Safeguarding the validity of such contracts, and assuring the right of enforcement thereof, is an obligation of the courts which has constitutional dimensions.”). That’s precisely what we’re doing here – forcing the banks to accelerate mortgages and file suit only after they do the things they promised to do (in bold, in a contract they drafted).

    These legal concepts help explain why I’ve had success arguing these issues in various Florida courtrooms. But how do we apply those principles in a normal case? How can one identify these issues?

  29. Stripes, beat it you troll.

  30. The bank owners want to own us like slaves and the traitor politicians are invested in it. The ball is in our court…stop participating and sue the crooks.

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