http://fargoneworld.blogspot.com

As posters noted many currency swaps are with foreign entities, which might take dim view of the USA, which would reflect on these foreign enteties Central Banks. which would most certainly have damaging effect on USA economy.

A Country which depends on 12-15 million barrel import per day at a time when it is the world’s largest debtor has major worries if there is sudden devaluation of her currency, or worse, no further loans.

I am sure that these worries, while unvoiced, play a major influense in mr. Bernanke’s and the Administration’s mind.

Most of the world rightly blames the USA [and the CITY in UK] as the source of the economic problems in the last 18 months. I do not think that they any more need strong reminders as to the cause of the problem. The USA needs their savings, lest the USA economy wishes to imitate that of Russia in 1990-s!

In an earlier revolutionary situation, this approach would have been known as “economic sabatoge,” and its proponents as “spies and wreckers,” if not “class enemies.”

Mr. Dimon and the rest of the American money manager capitalist class need to read up on their history.

What manager writes a bonus plan that pays out no matter how large the individual/team/group/company loses money? It’s just preposterous that the management was dumb enough to write bonus plans with no controlling levers in them based on AIG profits. At the end of the day their business unit lost money, so the factor that calculates their bonus should take that bonus to zero.

And if that’s not how the bonus plan was written, then I’d advise our Financial leaders, who now own 80% of AIG and should be sitting on 8/10′s of the board seats of AIG demand every AIG person be fired if they don’t turn down the bonus, and sign amended bonus contracts that have logical performance factors.

I’ve said it before, I’ll say it again. Genius only goes so far, but idiocy has no upper bound.

You need to read the primer of this site as to where the money went.

http://baselinescenario.com/financial-crisis-for-beginners/#deleveraging

Isn’t that part of a nationalization scenario – get new management into these banks and not allow the folks that got the bank to the point of insolvency to continue?

Is there any chance that all this CEO rhetoric is a stall tactic till certain people clean their investments out of these banks prior to what will eventually become “Nationalization”?

I just gotta wonder. I’m no expert, but there is a lot of money and rich folk involved here.