friday brainstorming

1. Two events dominate todays news which make whatever NFP has to offer a remote event the most important for now at least until the other can be sorted out is that America will sue a dozens of US banks for 30 bil. at least, which brings the usual suspects under big selling pressure. That happens as Saturn returns to the natal place for the USA, which happens every 30 years. This activates the natal Saturn Chiron opposition in the US chart – which is financial distress. This is a valid wave 5 trigger news within the already bearish scenario and as always someone new before except Mr Buffett it seems.

excerpt 1
Massive Wave Of Lawsuits To Be Filed By The US Against America’s Biggest Banks As Soon As Tomorrow

In a move that could either send BAC stock limit down overnight or send it soaring (we are still trying to figure out just what is going on here), the NYT has broken major news that the US is preparing to go nuclear on more than a dozen big banks among which Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, in an attempt for Fannie and Freddie to recoup $30 billion if not much more. The lawsuit is expected to hit the docket in the next few days: “The suits stem from subpoenas the finance agency issued to banks a year ago. If the case is not filed Friday, they said, it will come Tuesday, shortly before a deadline expires for the housing agency to file claims.” Now, taken at face value, this would mean that Bank of America can kiss its ass goodbye as unlike the Walnut Place litigation, this will take place in Federal Court where Article 77 is not applicable. Yet there is something that gives us pause: namely logic, captured by the following words: “While I believe that F.H.F.A. is acting responsibly in its role as conservator,

excerpt 2

 

Wikileaks Releases Entire 65 Gigabyte Uncensored Cablegate Archive (With Or Without Bank Of America Disclosure)

Submitted by Tyler Durden on 09/01/2011 – 22:04Bank of America Bank of America

Looks like Wikileaks is not waiting to see how litigation with the Guardian turns out and is set on doing all it can to bring the world to the brink of, what’s that word again, oh yes, war. And a free Zero Hedge hat to the first guy or gal (the latter gets a choice of ZH thong instead) to discover whatever it is that Wiki may or may not have had on Bank of America. Something tells us not many people will be sleeping at the Department of State tonight.

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~ by behindthematrix on September 2, 2011.

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