Last Bank Standing - The Wall Street Mega-Crash
Steve Selengut (October 1st, 2008) Writes:
Dateline Washington, October 19th (get it?) 2010: the Peoples Bank & Trust of America has now established itself as the only bank of any kind in the USA, totally owned and managed by the US House of Representatives. A 2/3 majority must now approve all investment banking transactions; your district representative’s staff reviews individual mortgage applications; and all 401(k), IRA, and remaining employer pension assets have been rolled into the Social Security Slush Fund.
Only federal and state elected officials are exempt from the 45% all purpose Income Tax. The estimated time to bring new companies public is 4.5 years; all individual account dividends and interest are paid directly into your IRS “grabber” account; CEO’s salaries are limited to 50% of the amount paid to a first year congressman, and any government budget shortfalls are withdrawn from corporate earnings before …
Aig, America, Bailout, Bank, Banking, Cdo, Congress, Djia, economy, Federal Reserve System, individual mortgage applications, Internal Revenue Service, investment banking transactions, Irwin Kellner, Lehman, Market, Market Commentary, Mortgage, Peoples Bank & Trust, Sarbanes-Oxley, Securities And Exchange Commission, Social Security Slush Fund, United States, US House of Representatives, wachovia, wall street, Wamu


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