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Wake Up America!

By Mike Smith Sept. 2009-2012

 

A News Update on the 5th of Dec. 2012

Here they go again...building up to another bleeding of the American People!

NEW YORK – 09-13-09 - A year after the financial system nearly collapsed, the nation's biggest banks are bigger and regaining their appetite for risk.

Goldman Sachs, JPMorgan Chase and others — which have received tens of billions of dollars in federal aid — are once more betting big on bonds, commodities and exotic financial products, trading that nearly stopped during the financial crisis.

That Wall Street is making money again in essentially the same ways that thrust the banking system into chaos last fall is reason for concern on several levels, financial analysts and government officials say.

• There have been no significant changes to the federal rules governing their behavior. Proposals that have been made to better monitor the financial system and to police the products banks sell to consumers have been held up by lobbyists, lawmakers and turf-protecting regulators.

"The big banks now are more powerful than before," said Johnson, now a professor at the Massachusetts Institute of Technology's Sloan School of Management. "Their market share has grown and they have a lot of clout in Washington."

"Yes, clout with the Jewish controlled Fed. Reserve, Treasury and the FDIC."

And that means the return of another Wall Street mainstay: Lavish compensation.

After 10 of the largest banks received a $250 billion lifeline from the government last fall, some lawmakers were outraged that employees were being paid seven-figure salaries even though their companies nearly collapsed. A handful of top executives, including Citigroup CEO Vikram Pandit, have agreed to accept pay of just $1 this year. There is no disclosure on his bonus compensation, stock shares and so on! It is, again evident that these people, knowing they will be bailed out whenever things get bad...are building the market back up for yet another raping. The compensation of most high-performing traders hasn't changed.

Goldman spent $6.6 billion in the second quarter on pay and benefits, 34 percent more than two years ago. And Citigroup, now one-third owned by the government after taking $45 billion in federal money, owes a star energy trader $100 million.

The CEO of Goldman, Lloyd Blankfein says that high numbered compensation is crucial, but should not be over done. So, Mr. Blankfein, Larry Silverstein, Geithner, Pataki, Bloomberg and the rest of the Jewish dominated Wall Street and Federal Reserve criminals... My question is; "When is it ever enough with you people?"

Government

One major component of the Obama plan — creating an agency to oversee the marketing of financial products to consumers — will be difficult to pass in Congress. Industry lobbying against it and other proposed financial rules has been fierce.

Lobbyists for hedge funds, the large investment pools that cater to the rich, have been able to fend off proposals that would require them to register with the SEC and regularly disclose their holdings.

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Video "Expect No Mercy"

 

Bush's Real Legacy



Money spent on Bush's 2 Wars, Iraq & Afghanistan from 2002 just to mid 2012

THREE HUNDRED FIFTEEN BILLION DOLLARS

6 hundred-fifteen billion dollars ...

Update : July 21, 2012

This is the amount of money the US has allocated for the wars in Iraq and Afghanistan, to be spent by September 30, 2006, the end of the fiscal year. And the Senate has allocated another 100 billion more in spending for 2007 and 2008. As of Feb. 2012 they added another 100 Billion to the war expenditures.

A $315 billion pile of cash is 125 feet wide, 200 feet deep, and 450 feet tall.

450 feet is the height of a 38-story building. It's the height of the Millennium Wheel in London. It is also the height of the Luxor Hotel in Las Vegas and the Louisiana State Capitol Building.

If you were to stack the money in a single stack, it would be 19,887 miles tall, enough to wrap the Moon at its equator almost 3 times.

President Bush, Jan. 6, 2003. How could this duck-faced moron ever have made it out of grade school and it sends trembles through me to know we let his media and corporate buddies buy the US president's office...twice! Shame on America and especially for allowing our sons and brothers to fight and die in a war for oil at the demise of our country...shame...shame on you all.

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The Wall Street Monster Crash Video, hilarious, but true!

 

CRASH DANCE VIDEO- THE CRISIS - THE STIMULUS & THE DEBT CEILING

 

Political Music Video; The Day Wall Street Died

 

Political Music Video; The Great Depression 1928 or 2008

 

A Must Watch Video; Wall Street Meltdown, set to music.

 

"Financial Crisis Video: The Musical" Lyrics & Vocals: B. Hopman

The Great Depression Video, lyrics by Bing Cosby

 

The Great Wall Street Swindle Video- Jan 5, 2009


Bailout Scam Video: BEND OVER AMERICA - SWINDLE OF A CENTURY
Lou Dobbs of CNN;

 

Seven Hundred Billion bailout fraud

 

The non governmental Federal Reserve Banking Industry, the economic crash -
The 700 Billion Dollar Bailout

 

"Wake Up America"
911 - The Wars - The Lies

 

TD Ameritrade Scam (Just to mention one)

TD Ameritrade is an online broker with over 6 million U.S. customers, and many more internationally, that has grown rapidly through acquisition, to become the 746th-largest US firm in 2008. TD AMERITRADE Holding Corporation (NASDAQ: AMTD) is the owner of TD AMERITRADE Inc.. Services offered include common and preferred stocks, ETFs, option trades, mutual funds, fixed income, margin lending, and cash management services.

Ameritrade Apex

The preferred customers of Ameritrade, Apex clients make either fifteen trades per quarter or have an account balance of one hundred thousand dollars to qualify. Ameritrade Apex clients also receive level-two quote-scope software. With level two they can see all stock orders placed by market makers in real time.

History

TD AMERITRADE traces back its lineage to a small investment banking firm and First Omaha Securities, Inc. (later Accutrade) in Omaha, Nebraska. Ameritrade Clearing Inc. was established as a clearing broker in 1983, and by 1987 TransTerra Company became the holding company for Ameritrade, and the company was subsequently known as TransTerra Company. In 1988, the company introduced the first quote and order entry system via the touch-tone phone. In 1995, the company acquired K. Aufhauser & Company, Inc. and its WealthWeb, the first firm to offer online securities trading, receiving the first order in August 1994. In October 1995, Ameritrade acquired All American Brokers. In January 1996, TransTerra's Accutrade launched "Accutrade for Windows," the first online investing system that let individuals partake in program investing and basket trading. By May 1996, TransTerra launched an Internet only broker called eBroker, and by November, TransTerra Company became Ameritrade Holding Corporation.

In March 1997, Ameritrade became a publicly held company, and its IPO opened at $15 per share. Ameritrade formed Freetrade in November 2000, which provided commission-free equity market orders. Freetrade has since been replaced by Ameritrade Izone, which now offers $5 equity market orders. In 2001, Ameritrade made two acquisitions: the February acquisition of TradeCast, giving Ameritrade a presence in the business-to-business arena, and the September acquisition of National Discount Brokers Corporation, adding $6.3 billion in client assets.

In 2002, Ameritrade merged with Datek Online Holdings Corporation, and changed commissions to $10.99 from $8 for market orders and $12 for limit and stop orders. Ameritrade purchased Mydiscountbroker.com in June 2003, and client accounts reached 3 million. In 2004, Ameritrade completed the purchase of Bidwell and Company in January, BrokerageAmerica in February, Investex in May and JB Oxford and Company in October. As of August 2007, there were reports suggesting that Ameritrade was engaged in merger talks with E*TRADE.

In 2008, long-time CEO Joe Moglia announced he would be vacating the CEO position in the upcoming fall after seven years to pursue other interests. Fred Tomczyk, the former COO, was named his successor and took over in September 2008. Rumors started that the company was going to move its headquarters out of the Omaha area after Moglia took over the Chairman position from founder and former CEO J. Joseph Ricketts. With the departure of Ricketts, who founded the company in Omaha, the company for the first time in its history had no members from the founding family on its management team, outside of the two that remained on the Board of Directors. Tomczyk further strengthened the rumors when he stated that he would not be moving out to Omaha, but rather staying in the New York City area, where he is based out of. However, those rumors were put to rest when in October 2008 plans were unveiled of the new TD Ameritrade headquarters in Omaha. The new headquarters would consolidate the call center and corporate offices together into one building. The new building, planned for development in the Old Mill area of Omaha, has a scheduled completion date of 2012. Tomcyzk later confirmed that the company considered moving out of the Omaha area, but decided to stay because of the large number of employees based in Omaha.

Tomczyk announced on June 10, 2009, that the name of the new ballpark will be TD Ameritrade Park Omaha. He had also made a statement that morning that this move is a sign that the company will continue to be headquarted in Omaha. TD Ameritrade will be paying an average of $1 million a year for the naming rights. The NCAA has also mentioned that they are interested in talking with the company about a corporate sponsorship.
Acquisition of thinkorswim Group Inc.

On January 7, 2009 TD AMERITRADE acquired thinkorswim Group Inc. (NASDAQ:SWIM) in a cash and stock deal valued at approximately $606 million. The transaction aimed to advance TD AMERITRADE's growth strategy on the trading side of the business.
Acquisition of TD Waterhouse USA

On January 24, 2006, Ameritrade Holding Corporation acquired TD Waterhouse USA from TD Bank Financial Group. Following the acquisition, it renamed itself TD AMERITRADE. TD AMERITRADE is one of the largest online brokerages, with 6.3 million client accounts and $300 billion in client assets. Revenue and net income are expected to increase to $1.8 billion and $557 million, respectively. TD Bank now owns 39% of TD AMERITRADE, and purchased Ameritrade's Canadian brokerage operations for $60 million cash. As part of the acquisition, Ameritrade investors received a special one-time $6 dividend, funded from Ameritrade borrowings and excess cash contributed to TD Waterhouse USA by TD Bank. TD Bank will limit their ownership of TD AMERITRADE to 45% for up to ten years after the acquisition, while founder J. Joseph Ricketts will limit his family's ownership of TD AMERITRADE to 29% for ten years after the acquisition. Ameritrade CEO Joe Moglia became the CEO of TD AMERITRADE.

Controversies and scandals

Security breach and resulting Identity theft risk and spam flood

In October 2005, several name posters began to uncover what was at the time the 3rd largest data loss incident ever when they reported spam to the disposable email addresses they'd given (only) to Ameritrade that were not the result of a Directory Harvest Attack and TD AMERITRADE staff reported that it was investigating the matter.

Reports of an ongoing problem continued. For example, on March 30 2007, a Slashdot article reported that unique email addresses provided only to TD AMERITRADE were frequently becoming targets for spammers. There was speculation that one of TD AMERITRADE's affiliated companies was the source of the leaks.

However, in mid-September 2007 media including the Associated Press and British tabloid IT-news portal The Register reported that TD Ameritrade had disclosed that TD Ameritrade had itself fallen victim to a backdoor-based network attack, and that a database containing all customer Social Security numbers, names, addresses, and email addresses had been compromised. The Register alleges said breach was only disclosed after a class action lawsuit started against the TD Group. TD Ameritrade has stated that the stolen information included account information such as account balances.

Preliminary approval a proposed class action settlement agreement was requested of Judge Vaughn R. Walker, who denied the request on June 30, 2008. On November 13, 2008, the state of Texas, in a letter from attorney general of Texas to Judge Walker objected to a revised settlement agreement.

Investigation of the breach is reported to be ongoing, but no leads have been reported.

TD Ameritrade and the Auction Rate Securities Scandal

On Monday, July 20, 2009, TD Ameritrade agreed to pay $456 million to settle a lawsuit involving the marketing of a debt class that ended up crippling investors. As part of the settlement, TD Ameritrade is set to repurchase all auction-rate securities sold prior to February 13, 2008 from retail investors with accounts of $250,000 or less within the next 75 days.

TD Ameritrade's lawsuit spawned from its involvement in the auction rate security scandal. Ameritrade sales people actively promoted Nuveen's auction rate securities as an alternative to money funds, resulting in individuals inability to liquidate out of their securities.

An auction rate security is a type of closed-end fund which means the fund has a fixed initial investment and is then traded on a secondary market. The money was to be invested in municipal securities and other instruments at rates that would be determined by weekly auctions. TD Ameritrade salespeople promoted Nuveen funds with names like "Quality Preferred Income II" to corporate and individual investors, claiming they were liquid alternatives to money market funds. In fact they were not, because they had no expiration date and the issuer has no obligation to pay back money it has borrowed from the investor, who can only cash out by selling his investment to someone else.

The market for auction rate securities collapsed in February, 2008 when broker-dealers such as UBS declined to continue to participate in dutch auctions that determined the rate of interest for the securities. Up to this point, brokers and issuers had propped up the auctions by acting as a bidder of last resort; without their participation, the market quickly folded. Investors were left with "frozen" accounts, that essentially were worth nothing, since they could not be redeemed and the investment houses that created them refused to close them out or return the money.

Investor groups are said to be organizing class action suits against Ameritrade, Nuveen, and other organizations such as UBS and Merril Lynch, that have been involved in the auction rate security scandal.

TD Ameritrade and the Reserve money funds

The firm's customers were approached by TD AMERITRADE brokers and recommended to invest their liquid money in a money fund managed by The Reserve, RYPQX (the Reserve Yield Plus Class R fund), according to investors in the fund[14][15][16]. More than 98% of the fund had been sold to TD AMERITRADE's clients, as disclosed in a statement from the Reserve in July 29, 2008.[improper synthesis?] When the fund broke the buck along with several other Reserve money funds in September, 2008, money assets of thousands of TD AMERITRADE clients (including many senior citizens) were frozen. For the larger Reserve Primary fund that also broke the buck, TD AMERITRADE said it will reimburse clients for up to a 3% loss. Other Reserve funds, such as the Interstate Tax Exempt Fund, were sold by TD Ameritrade, and were caught up in the Primary Fund's Failure, leaving investors in these funds without liquidity. However, the Reserve Yield Plus fund previously marketed by the company is not covered by the offer.

Investors allege a conflict of interest for TD AMERITRADE to promote the fund over its clients in the presence of a distribution agreement between The Reserve and TD Ameritrade that earns Ameritrade an undisclosed slice of fee revenue. Fred Tomczyk (TD AMERITRADE president) argued that the contract was a standard one and that "an investment firm has to make money in some way. According to the Chicago Tribune article, the distribution agreement clearly was effective: assets in Yield Plus Class R shares sold almost exclusively to TD Ameritrade clients shot from almost nothing in 2006 to $770 million by March of this year, public documents show. Another class dominated by the Omaha firm shot from $2 million to $171 million.

The SEC along with several state regulatory agencies are investigating TD Ameritrade's fund promotion and marketing practices. The company is named in a class action lawsuit for misrepresentation and marketing of the Reserve Yield Plus fund as a money market fund. The Sacramento Bee reported that the SEC filed a civil complaint against Reserve Management, chairman Bruce Bent Sr., and vice chairman and president Bruce Bent II in May 2009. It also reported anticipated investor losses of 8.3%, and TD Ameritrade spokeswoman Kim Hillyer said it will cover up to $50 million of losses in the Primary Fund.

Now the Richett Family Owners of Ameritrade are using their ill-gotten gains to but the Chicago Cubs, Wrigley field and 25 percent stake in the regional sports network Comcast SportsNet.
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