My Armor

Wow…I’m gonna catch flack on this one…however…my armor is suited and I’m prepared for battle.

I am prepared to take on even the largest of foes…Top CEO’s, Senior VP’s….bring it on!

We as Americans, must unite and place demands on President Obama to shut down the top 4 banks in these United States.

1. Bank of America
2. JP Morgan Chase
3. Wells Fargo/Wachovia
4. Citibank

You’re thinking this guy has lost it…you can’t do that…we’d fail as a country.

Actually…if we don’t shut down the banks…we will fail as a country.

Why?  Banks are cheating us each and every way they can and are

• Banks are currently operating on a “false” accounting method…
  • Under “approved” accounting methods, these Banks don’t have to account borrowers that are not paying their mortgages.
  • Banks are counting the failed mortgages not as debt…but as assets…because the home is an asset…make sense?  It shouldn’t!
• Banks are openly committing fraud!
  • Why?
    • Under FDIC and Securities laws…any banking entity must report a loss as soon as it is recognized…it cannot be hidden or overlooked.
  • What do you mean by this Kris?
    • Simple…banks are not “stating” their losses in their quarterly reports…the vacant homes, the non paying “dead beat” borrowers, the fact that these banks hold billions of 2nd liens or HELOC’s that are worthless…(the moment the value of the item used to secure a loan (a home) drops in value below the entire amount of the 2nd lien amount…the loan takes on a new status…Unsecured!)
  • Bank of America states that of their 1.3 Million customers that are 60 days or more late on their mortgage payment, 195,000 have not made a payment in over 2 years.
  • Of these…56,000 homes….the ones Bank of America states as “assets” are vacant!

Think about this…Bank of America just admitted to fraud in this simple reporting. Bank of America…on behalf of it’s shareholders has a duty and responsibility according to the FDIC to foreclose on a empty, deserted, non occupied building that has not benefited by it’s monthly payments  …no if’s, and’s or but’s…Bank of America must report this as it pertains to FDIC laws. Bank of America has not!

I can go on and on…but to keep this short…

These banks are taking Americans down a path of destruction and economic collapse not unlike that of the great depression.   What’s real scary, is that we’re no longer the most powerful nation in the world!  That title is held by China…and that’s another post.

The Big 4’s false methods of accounting are inspiring Americans to invest in their shams…their shams of  liquidity and solvency… when in fact they are broke!  Deadbeats!  Frauds!

I want to challenge each and every one of you that read this post…reach into your pocket, billfold or purse….if you have 1 penny or more in your hand…you have more money than the 4 major banks together.  Do you realize what I am saying? All 4 of these banks are so deep in the red that they will never be profitable again.  These 4 banks need to be shut down.

These 4 banks are not institutions representing America’s Capitalism…they are representing socialism…government funded entities.  The Big 4 are the greatest scammers of Social Security on record.

OK…that being said…are you nuts?  Close down the banks?  Bankrupt the Big 4?  What about all the jobs?  We’re in enough trouble as it is.

Yes…you are correct…this shutting down of banks would create a huge burden on all Americans.  However, from the “wreckage” will come gleaming towers of resurgence. Innovation comes from devastation…look at the Gulf oil disaster…how much innovation was created to overcome this disaster…how many new jobs? I don’t know…but we heard of new innovation almost daily…Actor Kevin Costner even spent millions of his own money on innovation to assist in the oil spill pandemic.

Many new banks will take the place of the Big 4. Banks that are not involved in this fraud will rise above the fallen to become the new norm. New banks will need employees…etc…we must however, watch these 4 banks fall under the ax of the executioner. Close their doors…fire their leaders and cut off their fiscal rewards and the cords to their Golden Parachutes.  Rid Americans of the likes of Ken Lewis (former President of BofA), Angelo Mozillo (Former CEO of Countrywide) and their lecherous gang of marauders.

Most importantly, we as Americans will have the truth.  It may be painful, however, we are headed to certain disaster under the current course.

You may think I’m crazy…however, we can’t continue to hide our heads in the sand…we have to hold the banks accountable…