Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information

08-27-2009 • Zero Hedge

And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg's lawsuit is allowed to proceed unchallenged, let alone if any of the "Audit The Fed" measures are actually implemented. As a reminder, The Clearing House Association consists of ABN Amro, Bank Of America, The Bank Of New York, Deutsche Bank, HSBC, JP Morgan Chase, US Bank and Wells Fargo. In a declaration filed in the Bloomberg Case (08-CV-9595, Southern District of New York), the banks demonstrate no shame in attempting to perpetuate the status quo with regard to the Federal Reserve and demand that the wool over the eyes of the general population remain firmly planted in perpetuity. The Clearing House submits this declaration because the Court's Order threatens to impair the

1 Comments in Response to Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information

Comment by hawk

Entered on: 8/28/2009 8:08:17 AM

It is not as if the public doesn't know whats going on and no one needs to be a rocket scientist to figure out what the banks have done. I say let the truth be known and let the domino affect begin.

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