Comment: "MARK to MODEL" SEC ruling in 2009 & Derivates NOT outlawed

(See in situ)

"MARK to MODEL" SEC ruling in 2009 & Derivates NOT outlawed

In March 2009, the SEC ruled that all BIG BANKS could hide their huge mortgage & derivative losses by changing the "Mark to Market" rule to the "Mark to Model" ruling. It's THE REASON the stock market took off. It was a game changer. You see, all of a sudden a bank could put any value on a property they own, instead of it going to the marketplace and getting "market" value. It would be like you & I selling our home, not for the market value price of $200,000, but instead we put a price of $400,000, so that on our "books", we would look like we were a more valuable company. Hence, the Big Banks could hide their enormous losses, and as a result, their earnings became magically great overnight. So that is what drove the stock market. It was phony, but that's what happened. CNBC was their accomplice.

Derivatives were OUTLAWED in 1930 AFTER the Great Crash of 1929. Well, the politicians NEVER outlawed or changed one solitary thing regarding the derivatives after the Crash of 2008, and that meant the likes of Goldman Sachs, JPMorgan, StateStreet, Wells Fargo, and other large banks could still, amazingly enough, deal in derivatives, CDO swaps, or any redefined instrument of corruption!

This is the sad state of the nation that we are in today. It is, imo, a criminal enterprise, and it's been going on far too long, like a century---note the Federal Reserve formed in 1913. But, I have no idea how we can get out of this mess. We can't vote out our politicians due to the manipulation of voting machines, and also the recent purchase by BALDERTON CAPITAL of the SCYTL software for our national presidential voting software tabulation, so conveniently located in Spain & controlled by Balderton Capital located in LONDON with 2 former VP Goldman Sachs guys working there! Add to that we have politicians who NEVER read the bills and yet, vote to pass them! We could save ourselves a lot of money & benefits, if we just let the Lobbyists have their way and got rid of all of the worthless politicians.

The only thing I pray and hope for is that these Billionaire Elites are overdoing everything, and that THEY don't even have a clue about the ramifications or "unintended consequences" of all this money printing, as they haven't EVER embarked on such a dramatic amount of money printing ever before in the history of the Federal Reserve. Just look at the charts of America's Money Supply. It's enormous, unfathomable since 2007!! We can just pray that these people make some kind of HUGE unintended, uncontrollable mistake that will reveal to the entire world all at once that the scoundrels, who they are & what they have been doing.