This will make you want to keep your money buried out back...

The Cypriot government has seized 6.75%~9.9% of all bank accounts as part of a bailout deal...

(Reuters) - Europeans' faith in the safety of their savings has been shaken by a levy on Cypriot bank deposits to pay for a bailout, even though there was no sign of a rush to withdraw cash in Madrid or Dublin.

People told Reuters they were angered but unsurprised that politicians should dip into citizens' deposits. And as bankers expressed concern the proposed terms of Cyprus's bailout could unnerve savers elsewhere, some leftist leaders voiced outrage.

Euro zone finance ministers want Cypriots to pay up to 9.9 percent of their deposits in return for a 10 billion euro ($13 billion) aid package. If approved by the island's parliament on Monday, it will be the first time savers have had to foot part of the bill for a European bailout.

"What they did to the Cypriots was a disgrace," said Maria Spyrou, 57-year-old Athens housewife who says she must support a daughter, a nurse, who hasn't been paid for nine months.

Can you imagine the envy Barack Obama feels? 

FBI arrests Jihadist Wannabee for Trying to Blow Up a Federal Reserve Bank in NYC

Another member of the "Religion of Peace" tries to kill us....


Via Fox News:

Federal authorities arrested a Bangladeshi national Wednesday morning for allegedly plotting to blow up a Federal Reserve Bank in New York City’s lower Manhattan, mere blocks away from the site of the terrorist attack of Sept. 11, 2001. The bank is one of 12 branches around the country.

The 21-year-old suspect, Quazi Mohammad Rezwanul Ahsan Nafis, attempted to detonate what he thought was a 1,000-pound bomb in front of the Fed building on Liberty Street, but the device was a fake supplied to him by undercover FBI agents who had been tracking his activity, the FBI’s Joint Terrorism Task Force said Wednesday afternoon.

The supposed explosives posed no threat to the public, the FBI said.

A criminal complaint accuses Nafis of having overseas connections to Al Qaeda and travelling to the U.S. in January to recruit individuals to form a terrorist cell and conduct an attack on American soil. He came under the guise of going to school in Missouri on a student visa. One of Nafis’ potential recruits was an FBI source, who alerted authorities, the FBI said.

A federal law enforcement official told Fox News that there was no evidence Nafis was directed by Al Qaeda to carry out this attack, though he appears to have thought he was working for the terrorist group.

Chase Bank Makes Branch Remove Christmas Tree

They are afraid it might offend someone. Here is a newsflash for Chase. This absurd political correctness is offending a lot more people than a Christmas tree would. There are hundreds of bank choices and I suspect Chase's Christmas loving customers will check them out.

Chase Bank told a businessman to remove the Christmas tree he donated to a local branch because it could offend people.

Antonio Morales, owner of Bellagio Day Spa in Southlake, had assembled and decorated a 9-foot-tall tree in the lobby of the Chase Bank branch at 1700 E. Southlake Boulevard as a favor to the branch manager, who is one of his clients.

The tree remained in the lobby from the Monday before Thanksgiving until Tuesday. Morales said his friend called him Wednesday to tell him the tree had to go. She later showed him an e-mail from JPMorgan Chase saying that the tree had to be removed because some people were offended by it.

The bank referred questions to corporate offices.

Greg Hassell, a JPMorgan Chase spokesman, said that the company's policy isn't anti-Christmas. "People wish their customers merry Christmas when it's appropriate," he said.

Video: ACORN Reconstruction MORE Assaults Chase Bank Branch to Celebrate Obama Signing Financial Reform Bill

How do leftists celebrate passage of Obama's financial reform bill? If you are a former ACORN organization with a new name, MORE, you storm a bank with bullhorns and shut it down for an hour.

From YouTube:

As President Obama signed the financial regulation bill, the remnants of Missouri ACORN, reconstituted as MORE, assault a Chase Bank sales branch in St Louis. 40 angry leftists stage a protest including children, bullhorns, signs, professional organizers, and tips to a local news crew that involved storming the AMDOCS building and shutting down business for an hour. this morning.

Video: ACORN Reconstruction MORE Assaults Chase Bank Branch to Celebrate Obama Signing Financial Reform Bill

Obama Administration Wants Access to Your Private Bank Records

Liberals hate the 'Patriot Act' because they are afraid the government will be able to access their library cards. Where is the outrage at the Obama administration for wanting access to everyone's bank records?

The Washington Times reported:

The next time you make a withdrawal from an automated teller machine, Treasury Secretary Timothy F. Geithner might be watching over your shoulder...

Obma admits he can't pry assault weapons from Americans cold dead hands

President Obama still wants to bring back the assault weapons ban. However, he has admitted it isn't likely in the current political environment. I guess he will focus on making ammo unavailable instead.

Obama Likely Won’t Pursue Assault Weapons Ban

President Obama said in Mexico Thursday that while he continues to back bringing back the expired assault weapons ban, it would be politically difficult to do so.

He called instead for greater enforcement of existing laws despite the fact that, according to Mexican President Filipe Calderon, such weapons have strengthened organized crime groups in Mexico who are fueling border violence and the drug trade.

“I have not backed off at all from my belief that the assault weapons ban makes sense, and I continue to believe that we can respect and honor the second amendment right in our Constitution,” he said during a press conference with Calderon.(excerpt) read more at cbsnews.com

Failed bank sues FDIC

In a slap in the face to American taxpayers, Washington Mutual Inc has sued the FDIC for $13 billion dollars. We should file criminal charges against the officers of these failed banks. Perhaps we could teach them some humility.

Washington Mutual sues FDIC for over $13 billion

NEW YORK (Reuters) - Washington Mutual Inc, the failed U.S. savings and loan, has sued the Federal Deposit Insurance Corp for well over $13 billion in connection with the loss of its banking operations, which was acquired by JPMorgan Chase & Co.

In a complaint filed with the U.S. District Court for the District of Columbia, the thrift's former parent accused the FDIC of having on January 23 made a "cryptic disallowance" of its claims, prompting the lawsuit.

Rep. Barney Frank shows his hypocritical underbelly again

Rep. Barney Frank was very hypocritical when he criticized the Bush administration about the bank bailout. Of course, he was one of the congressmen who pressed for more loans to low income groups that could not afford them. Those loans are one of the reasons for the banking crisis. Now, he is criticizing banks for sponsoring sports teams. He should be criticizing banks for donating more than $230,000 to his campaign over the last two years.

Frank Rips CitiField Then Welcomes Bank Money

Massachusetts Representative Barney Frank is one of the most powerful politicians in the country, serving as head of the House Financial Services Committee. And lately, he’s been one of the more outspoken critics of banks receiving bailout money paying big bucks for corporate sponsorships, complaining to the NEW YORK TIMES about Citigroup’s 20-year, $400 million stadium naming deal with the Mets that “marketing expenses should be for real marketing, not ego boosts, which is what I think naming rights are.”

It seems Rep. Frank would rather banks stop frittering away money on sports sponsorships and put it where it can go to good use - into his own coiffers. That’s because the securities and investment industry has been Rep. Frank’s main contributor over the past two years, donating more than $230,000 to his campaign. (excerpt) read more at sportsbybrooks.com

Citibank moves closer to nationalization

The US government is getting ready to convert their preferred shares of Citibank into common shares. This will give them a 40% ownership if Citibank. President Obama has tried to halt talk of a government takeover of Citibank and Bank of America. Moves like this make Obama's press statements seem very disingenuous.

Citi Moves One Step Closer To Toast (US May Take 40%+ Stake) (C)
Henry Blodget|Feb. 22, 2009, 9:29 PM

The government is in talks to convert most of its $45 billion of preferred stock in Citi (C) to common stock, the WSJ says. Other preferred shareholders might follow suit.

This plan would raise the government's ownership of Citi to 40%+ from just under 8%. Common shareholders would be severely diluted, especially if other preferred holders convert.(excerpt) read more at businessinsider.com

Proof positive that democrats are responsible for bank crisis

Have you been wondering who is responsible for the bank crisis and the failure of Fanny Mae and Freddie Mac? Every voting age American should be required to watch this video. The video is from 2004 Congressional hearings about regulating Fanny Mae and Freddie Mac. You will see Republicans pointing out problems and calling for more regulation of Fanny Mae and Freddie Mac. You will see Barney Frank, Maxine Waters and other Democrats denying there is a problem and criticizing the regulators and Republicans for trying to prevent the upcoming crisis. If this video doesn't make you ashamed to be a member of the Democratic Party, nothing will.
2004 Congressional hearing on Fanny Mae and Freddie Mac

Another bailout that could cost billions

U.S. to Back Citigroup's Troubled Assets

Adam Samson and Joanna Ossinger
FOXBusiness

The federal government on Sunday night said it would throw its weight toward stabilization of troubled financial-services giant Citigroup Inc. (C) by moving to guarantee $306 billion in troubled assets on the bank's books, according to a joint statement issued by the Federal Reserve, Treasury Department and Federal Deposit Insurance Corp.

The deal involves Treasury injecting an additional $20 billion in capital into Citigroup. Treasury will charge an 8% interest rate for the first few years, which is higher than the rate charged to other banks participating in the Troubled Asset Relief Program. Citi had already received $25 billion in aid from TARP.

Citi will also issue $7 billion in preferred stock with an 8% dividend that will be split between the Treasury and the FDIC. If those dividends aren’t paid in full for six dividend periods – whether consecutive or not – the Preferred shareholders will have the right to elect two directors. That right ends when a certain amount of the dividends are paid up.

Among other measures, the new agreement limits common-stock dividends of more than one cent a share for the next three years without the permission of the Treasury, FDIC and Fed.

“A factor taken into account for consideration of the [government’s] consent is the ability to complete a common stock offering of appropriate size,” the release said.

The government also agreed to backstop a $306 billion pool of Citi's assets, which is meant to provide Citigroup with "protection against the possibility of unusually large losses." Assets will remain on Citi's books, the Fed said, but will be appropriately "ring-fenced."
Read more here.