Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information

Tyler Durden

And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg's lawsuit is allowed to proceed unchallenged, let alone if any of the "Audit The Fed" measures are actually implemented.

As a reminder, The Clearing House Association consists of ABN Amro, Bank Of America, The Bank Of New York, Deutsche Bank, HSBC, JP Morgan Chase, US Bank and Wells Fargo.

In a declaration filed in the Bloomberg Case (08-CV-9595, Southern District of New York), the banks demonstrate no shame in attempting to perpetuate the status quo with regard to the Federal Reserve and demand that the wool over the eyes of the general population remain firmly planted in perpetuity.

Racketeering 101: Bailed Out Banks Threaten Systemic Collapse If Fed Discloses Information | zero hedge

Related articles by Zemanta

• Bank of America/Merrill Lynch Plans $2 billion auto loan-backed deal Term Asset Backed Securities Loan Facility (TALF) Deal (ceoworld.biz)