Article Image

IPFS News Link • Federal Reserve

U.S. regulators seize two more banks, engineer sale

• Reuters
U.S. regulators took over two banks on Friday and sold them to Mutual of Omaha Bank, the sixth and seventh bank failures this year as financial institutions struggle with a housing bust and credit crunch.

1 Comments in Response to

Comment by Fascist Nation
Entered on:
Did you see any judicial process in this seizure?

Did you see a public open auction to obtain the best possible price and allow all interested parties to participate in the acquisition?

The answer to both is no.

Did you see any stated authority for the above actions? You know the action whereby a branch of the federal government or a quasi-government corporation seizes property and sells it the same day to another private entity without notice...ahhhhh, by what decree?

And what is to prevent said government from seizing my stuff and selling it the same day to someone else? Nothing. It is called RICO and is practiced daily by the people with the guns and the will to use them and sleep well at night.