Now Banks Can Legally Steal Retirement Accounts

Aug 21, 2012 Full story: www.beaconequity.com 12

Financial institutions have suddenly taken precedence over segregated customer funds, including their largest customers of all—pension funds

"If you don't understand what 'get the hell out' means, there's not much I can do for you," Ann Barnhardt passionately told blogger Warren Pollock, as she warned viewers of systemic failure in the U.S. financial system, as well as the certainty that American savers will be robbed of their retirement, brokerage and savings accounts in the process.

(Thank you Kahoki)

Full Story

“Open your eyes”

Since: Sep 09

Central Florida

#1 Aug 21, 2012
So when you hear about how these cities are going bankrupt, this is the reason why. Cities, Counties, States invested their tax surpluses into Wall Street Cedit Default Swaps and other securities like that since rating agencies gave these securities AAA ratings (you know the same ratings as government debt). And they kept these surplus investments off of the books of the budgets.

While at the same time, these banks were placing short positions against these securities. Perfect example is Goldman Sacks who admitted internally that these securities were "shit" and were still pushing for cities and counties to put their pension funds into these securities. Complete fraud is what this is.

Coincidently, the other day, the DOJ dropped all charges of Fraud against Goldman Sacks due to a lack of evidence. Even though it was admitted to Congress what they were doing.

MF Global is another. John Corzine goes infront of Congress and tells them he does not know where the $1.6B in lost segregated accounts has gone. Well, the money has been found. Where? JP Morgan London. And those people that lost their money from the segrgated accounts, if luck, they may get 25% of it back.

As gerald Celente says, "Justice is spelled wrong. It should be spelled Just Us." Because that is the only people all laws apply too. Just us, not the so called "honorable" guys like John Corzine.
xnutmegger

Phoenix, AZ

#2 Aug 21, 2012
As long as people walk free as did Jon Corzinne the crimes will continue.

This game started when Glass-Steagal was repealed in 1999.

The main drivers of the repeal were Dem Robert Rubin and GOPer Phil Gramm.

Clinton signed it into law.
Halito

Winnemucca, NV

#3 Aug 21, 2012
Are some steal in the corp of discovery? When did surveying start in the US?
Halito

Winnemucca, NV

#4 Aug 21, 2012
Can the Chief only steal when preparing a Feast?
Phenom

Citrus Heights, CA

#5 Aug 21, 2012
Great....... more good news........ = (
Sheik Yerbouti

Warrington, PA

#6 Aug 21, 2012
Just how much lower can these wall street sociopaths go? They will steal anything that isn't nailed down! It is time to put some teeth in our laws dealing with economic crimes. Give these sociopaths life without parole in a tough prison!
Cracker

Festus, MO

#8 Aug 21, 2012
I think Media Matters Suck ...
Gravediggers

United States

#10 Aug 21, 2012
Corzine!
Debt Hold The

Fishers, IN

#11 Aug 21, 2012
Halito wrote:
Are some steal in the corp of discovery? When did surveying start in the US?
thinkin Discoveree card pay to recovery eggco!;-000h, ira vs irs;-0
Debt Hold The

Fishers, IN

#12 Aug 21, 2012
Halito wrote:
Can the Chief only steal when preparing a Feast?
the chief no steal it"s free turkee4thxgiver;-000h, Nov, 2day 2012 cash yo vote;)))))))

Since: May 11

Location hidden

#15 Aug 22, 2012
xnutmegger wrote:
As long as people walk free as did Jon Corzinne the crimes will continue.
This game started when Glass-Steagal was repealed in 1999.
The main drivers of the repeal were Dem Robert Rubin and GOPer Phil Gramm.
Clinton signed it into law.
You still don't get it, do you? It no longer matters what side of the net politicians play on. It's still the same court and they are NOT on the side of the people.

I've said it all along, the retirement fund plan in America is set up to scam people out of their money. If we don't wake up as a collective group of citizens and stop playing the finger-pointy game, we will ALL end up losing. You want lay blame...blame each and every one of them in Washington...past, present, future. They've all helped bring us to the unpleasant place we are right now.
Questioner

Llano, TX

#16 Aug 22, 2012
This is a great legal ruling for Creditors and private equity companies (like Bain). The will enjoy your retirement funds ... if your company goes bankrupt!

Tell me when this thread is updated:

Subscribe Now Add to my Tracker

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Bankruptcy Discussions

Title Updated Last By Comments
Tombigbee EPA change hits some hard 4 hr Frank 1
Free Press bankruptcy truth squad on alert with... (Jan '14) Dec 21 reality is a crutch 4
How can I create Blu-ray structure from MKV fil... Dec 18 HaileyLi 1
4 indicted in West Virginia chemical spill case Dec 17 carlos ross 2
Yatseniuk Urges International Donor Conference Dec 15 Zeppelin 1
UPDATE 3-Ukrainian PM warns of default risk, ca... Dec 15 Lukashenko is Dr ... 4
Massenaa s FYE to close; Deb shops files for ba... Dec 12 brushton 123 4
More from around the web