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Robbers on the Loot (0812-19A)

Robbers on the Loot (0812-19A)

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Published by Anil Selarka
The author cricially examines the botched reasons for not granting $34 billions loans to US automakers and endanger 3 Million jobs which would otherwise cost $ 200 billions via Unemployment allowance and lost taxes. With $2 trillions being disbursed by FED in last 2 months, there is high degree of probability of corruption at high places.Citigroup was given massive $410 billions help and they fired 75000 employess in last few months. Is not FED creating unemployment? Read further..
The author cricially examines the botched reasons for not granting $34 billions loans to US automakers and endanger 3 Million jobs which would otherwise cost $ 200 billions via Unemployment allowance and lost taxes. With $2 trillions being disbursed by FED in last 2 months, there is high degree of probability of corruption at high places.Citigroup was given massive $410 billions help and they fired 75000 employess in last few months. Is not FED creating unemployment? Read further..

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Published by: Anil Selarka on Dec 16, 2008
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05/09/2014

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 From the mind of Kalidas Robbers on the Loot Page 1 of 3
Copyright © 2008 Anil Selarka (Kalidas)
It is almost certain that Federal Reserve Bank will ultimately shut down. These are the final days. The majorplayers in the White House, Treasury, FED, major Banks like Citigroup, Bank of America and JP MorganChase, Goldman Sachs, Insurance companies like AIG and last doyen of American strength – GeneralElectric – all know pretty well that these are the final days of the Fed’s existence.In OID cricket match, when the last few overs are remaining, whichever batsman joins in starts willowinghis bat all around the corners to score whatever runs he could muster before the stumps are drawn. In theUnited States, who plays baseball, not cricket, there is a different story. The FED cordoned off the entirearea surrounding its massive building, invited only a few select guests, and started distributing extraordinary largesse over $ 2 Trillion dollars in last 2 months.A country, where a Senator’s seat can be sold for $500,000,how much money must have been corrupted at high placesin Washington where the money rained from the sky intrillions minted at the printing press. The naughty playerstook all precautions. While seeking passage through Senate,they ensured that free hand will be given to those in chairand no questions would be asked.When Bloomberg sought information from FED for thedisclosure of names of recipients of $ 2 trillions ($2000Billions) of Tax Payer’s money, they were not evenanswered. Bloomberg then filed a suit seeking thoseinformation under Freedom of Information Act – but alas,the judges in high places would not decide now or perhapsnever. After all, they were appointed by the White House.Free press? What’s that? Just forget it. Let us talk green,not the environment – just our greenback – the dollar.When the advocates of democracy, freedom and fairnessknocked the doors at US White House, Treasury andFederal Reserve, they were turned back. The rules havechanged.Never before in the world huge pile of money have runninginto trillions of dollars been printed with enormous speed.There is over 60% probability that many Executives andOfficials would have made huge sum of non taxable moneyin return of favor of giving extra ordinary loans, benefits, aids and equities to chosen few. Take the moneyand run – we are unaccountable by law, and once the FED closes down, who is going to know what, howmuch, when and where from we got such enormous wealth locked up in off shore centers. Who is going tochase us by the way? Immerse yourselves in holy green waters at the Federal Reserve.
 
 From the mind of Kalidas Robbers on the Loot Page 2 of 3
Copyright © 2008 Anil Selarka (Kalidas)
Look at the following numbers:$ 47 Billions:To cash strapped Citigroup in cash aid or bail out or loans or non refundable advance tofund its massive losses$360 Billions:Again to Citigroup in the form of State guarantee for its obligations arisen out of toxic debtsagainst the collateral securities having zero value.And what did they do? They fired 75,000 employees (23,000 + 52,000) that will create unemployment 
en masse
.$ 85 Billions:$ 150 Billions ($60 Billions loans + $40 Billions via Preference shares + $ 52.5 billions Securities purchase)To AIG to fund its losses arisen out of guarantees in respect of CDO and other related toxic assets$ 29 Billions plus$ 30 Billions (carrying only 2% interest rate with no payment for first 2 years)To Bears Stearns and JP Morgan Chase with declared cause to save the BS but disguised helpwas rendered to rescue JPMCAnd what did they do? They fired 9,000 employees in Investment Banking.They also announced possible 10,000 additional lay off. Another 10% cuts isreportedly planned. This will create unemployment for at least 19,000employees in short term. The news is very grim because 10% cuts lookssmall in percentage terms, but in absolute terms or numbers, it will beextremely devastative. Citigroup’s firing of 75,000 works out to 25% of itsentire workforce. You can count the numbers for BOA who owns MerrillLynch having huge Investment Banking staff.$ 29 BillionsTo Bank of America to fund its purchase of Merrill Lynch$ 2,000 Billions to undeclared financial institutions in last 2 months. The cost of rescue may exceed $ 3,000billions ($ 3 trillions)... There was lot of drama to get the rescue package of $ 700 billions passed throughsenate, However, Bernanke distributed over $ 2 trillions without any authority – congressional orotherwise.And what they denied? And to whom? And how much? Only $34 billions?$ 34 Billions to genuine Auto makers – General Motors, Chrysler and Ford, who wanted to protect the jobsof 3 Millions workers, staff, dealers and distributors. Look at the following statistics that missed the mindsof ordinary Americans and those studious and yet stupid Senators: If 3 Millions jobs are lost at Automakers; it would cost the State as under:
Cost of Unemployment at US Automakers (GM, Ford and Chrysler)
Cost of Unemployment under Allowance@ $50,000 per employee for 12 months$ 150 Billions 3 Mln employees x $50,000Cost of Lost Taxes if the employees were allowed tocontinue$ 50 Billions Tax @ 30% on AnnualSalary/WagesTotal Accountable Loss
$ 200 Billions
Collateral Damage $ 300 Billions Loss of savings, wealth to millionsof stock and bond holders.Total Culpable Loss
$ 500 Billions
Amount asked for help by GM, Ford, Chrysler $ 34 Billions This is merely repayable loanWhat do you call the President Bush, Bernanke andPaulson and all those supporting their stand?Stupid, idiots? You decide...

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