http://www.crikey.com.au/2008/09/18/hbos-and-lloyds-merge-as-wall-street-tumult-reaches-uk/ now with extra source Sun, 22 Nov 2009 07:39:15 +1100 http://wordpress.org/?v=2.8.6 hourly 1 http://www.crikey.com.au/2008/09/18/hbos-and-lloyds-merge-as-wall-street-tumult-reaches-uk/#comment-24230 tpo Thu, 01 Jan 1970 10:00:00 +0000 #comment-24230 This is disaster capitalism at its best. For the last year and a half the press has been rather silent about this impending crash, and anyone who dared to say anything about was either laughed at (eg Roubini) or fed scripted lines by tptb. Now the moment is "suddenly" upon us, and there is shrieking and panic from Wall Street and people who have money at risk. It is all apparently so shocking and unexpected that panic measures are required. HBOS is a brilliant example because the rule book is being thrown out the window as HBOS is allowed to merge with Lloyds in a move that is not good for consumers. It's just like it was OK to allow torture of civilians and deny people trials in the USA (ie throw out the rule book) because 911 was so "shocking". The truth is that an economic Depression far worse than the last now stares us in the face and it is not unexpected or shocking. Anyone who has been reading Roubini or Mish, or Denninger or the Wall Street Examiner for the 2 years has seen this moment approaching and has prepared appropriately. The sheeple are going to get screwed to the wall as powerful people with money behind them cherry pick the assets of distressed companies and leave the taxpayers of various countries to pick up the left mess behind by the CDS implosions that these various companies are left holding. That, by the way, is what will happen to AIG - it will be cherry picked very quickly and then the CDS carcass will be left to the taxpayers of the USA. Anyone who is shocked by what is happening should read Naomi Klein's "Shock Doctrine". Anyone with money still in a bank at this stage in the game is a gullible idiot and deserves what's coming. This is disaster capitalism at its best. For the last year and a half the press has been rather silent about this impending crash, and anyone who dared to say anything about was either laughed at (eg Roubini) or fed scripted lines by tptb. Now the moment is “suddenly” upon us, and there is shrieking and panic from Wall Street and people who have money at risk. It is all apparently so shocking and unexpected that panic measures are required. HBOS is a brilliant example because the rule book is being thrown out the window as HBOS is allowed to merge with Lloyds in a move that is not good for consumers. It’s just like it was OK to allow torture of civilians and deny people trials in the USA (ie throw out the rule book) because 911 was so “shocking”. The truth is that an economic Depression far worse than the last now stares us in the face and it is not unexpected or shocking. Anyone who has been reading Roubini or Mish, or Denninger or the Wall Street Examiner for the 2 years has seen this moment approaching and has prepared appropriately. The sheeple are going to get screwed to the wall as powerful people with money behind them cherry pick the assets of distressed companies and leave the taxpayers of various countries to pick up the left mess behind by the CDS implosions that these various companies are left holding. That, by the way, is what will happen to AIG - it will be cherry picked very quickly and then the CDS carcass will be left to the taxpayers of the USA. Anyone who is shocked by what is happening should read Naomi Klein’s “Shock Doctrine”. Anyone with money still in a bank at this stage in the game is a gullible idiot and deserves what’s coming.

]]> http://www.crikey.com.au/2008/09/18/hbos-and-lloyds-merge-as-wall-street-tumult-reaches-uk/#comment-24231 xazron Thu, 01 Jan 1970 10:00:00 +0000 #comment-24231 Well I've spent a worried day- my SUper from last Jan is in Bankwest- is it safe or not? Or did that little shuffle last Jan by the Fed Govt where they only Govt gauranteed the first $20,000 of my savings is what I am meant to go to bed on tonight and feel secure. Where is the analysis on Bankwest by Financial Journalists? Should I do a run on the bank in the morning and grab all my Super out? Has Bankwest beeen loaning my money to its owner HBOS- where has my money been loaned to ? Well I’ve spent a worried day- my SUper from last Jan is in Bankwest- is it safe or not? Or did that little shuffle last Jan by the Fed Govt where they only Govt gauranteed the first $20,000 of my savings is what I am meant to go to bed on tonight and feel secure. Where is the analysis on Bankwest by Financial Journalists? Should I do a run on the bank in the morning and grab all my Super out? Has Bankwest beeen loaning my money to its owner HBOS- where has my money been loaned to ?

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