Monday, October 31, 2011

Happy Halloween!

Classic!





and for your enjoyment - Vincent Price's voice over session from "The Thriller"

Epic!






Have Fun!

Friday, October 28, 2011

OWS Doesn't Want To Share Food With The Homeless


What a bunch of selfish hypocrites.
Here they are wanting a piece of the "rich guy's pie" and they won't even share with people who have less than themselves.

So they want the 1% to give more in taxes to the State - "to spread the wealth" - and yet when the homeless come to their Occupy Wall Street tents looking for a meal they get all mad. They even call them freeloaders!

The hypocrisy and irony here is priceless.

So now the movement is deciding to cut back on their "fancy meals". No more organic chicken and vegetables, spaghetti bolognese, and roasted beets and sheep's-milk-cheese salad - which is not bad for people that work hard at protesting those nasty rich people. Because they don't want to share their extravagant menu items, they will apparently now be substituting that for more plain stuff like peanut butter sandwiches. Afterall, can't be giving the good stuff to freeloading vagrants!
“We need to limit the amount of food we’re putting out” to curb the influx of derelicts, said Rafael Moreno, a kitchen volunteer.

A security volunteer added that the cooks felt “overworked and under-appreciated".

... Today, a limited menu of sandwiches, chips and some hot food will be doled out -- so legitimate protesters will have a day to make arrangements for more upscale weekend meals.

Protesters got their first taste of the revolt within the revolt yesterday when the kitchen staff served only peanut butter and jelly sandwiches and chips after their staff meeting.

Organizers took other steps to police the squatters, who they said were lured in from other parks with the promise of free meals. ...

“We’re not going to let some members of this community destroy the whole movement,” a volunteer said.
I find it hilarious that "the cooks felt overworked and under-appreciated" - How incredibly ironic! That is how most American Taxpayers feel regarding the freeloaders that suck off the system and demand more in social entitlement programs and government "freebies"!

And here is another lesson to be learned by these people: Since their free meals are attracting "non-protesters" who are essentially sucking off the food for the "real protesters" how long will it take for the OWS crowd to put a fence around their parks and tents and require ID's for those seeking food??? You know - to tell the "real protesters" from the "fake" ones. Kind of like the illegal aliens sucking off our social services. Eh?

While they protest against the disparity of the haves versus the have-nots.. perhaps they ought to look closer into their mirrors and see that they are not much different than the 1%. They won't share their organic chicken and sheep's-milk-cheese salad with those who have less than they do.

It looks to me that the protesters portrayed in this article are just as corrupt and greedy as the folks they are protesting against.

No surprise there.

Thursday, October 27, 2011

Obama To Grease Students


Looks like the Socialist-In-Chief is seeking the student vote.

Obama wants to cap student loan repayment rates at 10 percent of a debtor’s income that goes above the poverty line, and then limit the life of a loan to 20 years.

One of Obama's legislative initiatives in 2009 was to have the federal government take over the student lending business in America. In essence he federalized all student loans in the US. You cannot get a student loan from a private bank anymore that doesn't have the governments tentacles involved.

Obama claimed this step to be a "cost-savings initiative". Furthermore, he argued that the old system where private banks loaned out money to students (with competitive rates, I might add) reduced the amount of available money for needy students. He also claimed that because private banks did the lending of this government secured debt, that it hindered the Federal government from making the system more efficient. Hah! When has the Federal government done anything more efficient? (But I digress)

Taxpayers now fund student loans.

And now that King Barry has taken over the student loan business, he is now proclaiming a change in the rules so that the taxpayers get more royally screwed. It is actually nothing more than a transfer of wealth and an initial stab at making college education "free". Interestingly enough, this change would affect very few Americans over the age of 32.

How will this work?
(excerpt from Fox News report)
The idea is to cap student loan repayment rates at 10 percent of a debtor’s income that goes above the poverty line, and then limiting the life of a loan to 20 years.

Take this example: If Suzy Creamcheese gets into George Washington University and borrows from the government the requisite $212,000 to obtain an undergraduate degree, her repayment schedule will be based on what she earns. If Suzy opts to heed the president’s call for public service, and takes a job as a city social worker earning $25,000, her payments would be limited to $1,411 a year after the $10,890 of poverty-level income is subtracted from her total exposure.

Twenty years at that rate would have taxpayers recoup only $28,220 of their $212,000 loan to Suzy.

The president will also allow student debtors to refinance and consolidate loans on more favorable terms, further decreasing the payoff for taxpayers.
What a deal!
What a guy!


Of course now with even more federal (taxpayer) money available for student loans - and students not having to pay back the full amount - colleges will just get to hike their tuition - and you and I foot the bill! Our grandchildren and their grandchildren might even have to pay as well!

How cool is that?

To top it off, the Socialist in Chief will be luring more students into government work and making them even more dependent on his Socialist Utopian vision! The private sector be damned!

Best of all - Obama doesn't have to get Congressional approval!
Read more here about Obama's executive order.

College tuition and loan bubble - full speed ahead!

Hey Ben ... print up more of that fiat stuff will ya ...

Wednesday, October 26, 2011

State Of Tennessee Now Occupied By The Feds

And they have checkpoints on their roads which are run by the U.S. Department of Homeland Security’s Transportation Security Administration (TSA) and Visible Intermodal Prevention and Response (VIPR) to prove it.





There goes Tennesseans 4th amendment rights.
Search without probable cause.
And you can believe that this cancer of the trappings of a police state will spread to your state as well. It is insanity fed to the population under the guise of "security".

Law abiding US Citizens need to start filing Civil Rights Law Suits as a result of these Illegal searches. I hope thousands of cars pile up at these stops with refusal to show ID to slow all traffic and commerce to a crawl. We should not have to be treated as criminals on the very roadways that we are taxed to maintain.

And Honestly - this is hilarious! :
"The VIPR operation ran from 10 a.m. – 2 p.m. local time at each location."
So I guess since terrorists do not read the Tennessee Government's website - we are all safe because they will not travel on these roadways outside of those times (eyeroll)

The whole thing is absolute garbage designed to de-sensitize and the population to this type of unconstitutional action while using the force of authority to create compliant sheep.

TSA groping old ladies and children at airports was not enough - now we must submit to roadway and train station searches.

Please read Ron Paul's statement (H/T Eric H.)

America - what the hell has happened to you?
You are looking more like Nazi Germany every day!



“Experience should teach us to be most on our guard to protect liberty when the government’s purposes are beneficent…The greatest dangers to liberty lurk in insidious encroachment by men of zeal, well meaning but without understanding.” - Justice L. Brandeis

“Guard with jealous attention the public liberty. Suspect every one who approaches that jewel. Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you are inevitably ruined.” – Patrick Henry, speech of June 5 1788

Tuesday, October 25, 2011

Buy A Home For $100


Here's the latest courtesy of our idiots in Washington... as if low cost sub prime mortgages didn't put us in the financial crapper in the first place.
According to a new proposal by HUD, beginning this month and continuing for a year, anyone with a just $100 will be allowed to buy a HUD-owned REO home. ... limited to only... 28 states! But it gets better: "HUD’s $100 down payment incentive program can also be applied to an FHA 203k loan, which can be used to fund repairs and renovations on the home. The 203k program allows buyers to finance both the mortgage and additional money for rehabilitation needs with a single government-insured loan." Said otherwise, a $100 downpayment gives one unlimited degrees of freedom how to spend non-recourse, massively levered capital, and courtesy of money's fungibility, to even fund, shhh, the occasional iPhone.
Can you just see the fraud now????
The 203k program allows buyers to finance both the mortgage and additional money for rehabilitation needs with a single government-insured loan.
"Construction work" done on these homes by the new owners' buddy's "contacting business" will no doubt produce a plethora of outrageous and fraudulent costs for renovations - paid for up-front courtesy of the taxpayer.

Heck - the program even includes homes in the Caribbean!
That's right!
A Benjamin gets you a home in the Caribbean!

and as an extra added bonus... In addition to $100 down instead of FHA’s typical 3.5 percent down payment, HUD says it will also cover up to 3 percent of the closing costs in most cases.

Heck!!! Practically free houses from the government!
The sheep will just have to make a huge mortgage payment every month!
With inflated money no less!
Probably front loaded with oodles of interest for the banksters.
Think of it as rent... because they won't own the property anyway - the bank will.

And the property that they "buy" can even eventually be stolen from them by the government via eminent domain! So if the government wants to put up a shopping mall or other corporate playscape then the "home" is the government's.
No biggie.

Ah.. the joys of over-leveraged home ownership.
Ain't it great??

Honestly, this is a disaster waiting to happen!
More over leveraging is NOT what we need.


(but what happens if they can't pay the monthly?...Shhhh...same as before - rinse, lather, repeat)

Read more about it here (DSNews)

Monday, October 24, 2011

Bank Transfer Day


Bank Transfer Day is a boycott initiative calling for a voluntary switch from commercial banks to not-for-profit credit unions by November 5, 2011.

This action is attributed to Kristen Christian who claims that this is not an "Occupy" event... but just something she started on Facebook:
She says it has nothing to do with Occupy L.A. and its Occupy Wall Street sister movement. ...

Yet the timing of L.A. gallery owner Kristen Christian's idea couldn't have been better for those fed up with corporate banks that took billions in taxpayer bailout money in 2008 and are now find that it's okay to ream the American people with exorbitant debit card and account fees.

Christian's brainchild, posted to 500 of her friends on Facebook, was quite simple:

If you don't want to pay the likes of Bank of America $5 a month to access your money via debit card, just transfer your cash to your friendly, local credit union.

"I was tired of paying for fees for inadequate services," the 27-year-old founder of Le Spec Gallery near Koreatown tells the Weekly. "I found it disgusting that a large and wealthy corporation would target the working class, especially after the bailout money." ...

Now she has a Facebook page specifically for Bank Transfer Day and 28,000 supporters nationwide.

"The event turned into a movement," she says "It's a peaceful boycott of corporate banking started by one citizen." ...

By the way, the credit union she chose in defiance of Wall Street banks?

Coast Hills Credit Union which is near her hometown of Arroyo Grande.
The Facebook page states this:
The event was created by Kristen Christian, a private citizen and small business owner with no affiliations to Anonymous or Occupy Wall Street. While she's now a proud member of Coast Hills Credit Union (based in Lompoc, CA) and Los Angeles Federal Credit Union, she's not a credit union employee. She's received no public or private donations for her efforts or costs associated with this movement. Every bit of work on BTD is a testament to her love for her community & neighbors. She genuinely believes we can pull ourselves out of this economic mess the big banks caused by investing in local not-for-profit credit unions.
...

The Durbin Amendment is an add-on to the Dodd–Frank Wall Street Reform and Consumer Protection Act (Public Law No. 111-203), signed into law by President Barack Obama on July 21, 2010. The Act allows the Federal Reserve to regulate debit card interchange fees of banks with over $10 billion in assets. Over the summer, the Fed released the final rule on the matter by limiting debit card interchange fees to a maximum of 21¢ per transaction.

In response, these corporate-level banks have decided that beginning early 2012 any consumer with less than $20,000 in combined accounts will be charged a monthly $3-5 fee if they use their debit card at any point during the month. This new fee clearly targets the impoverished & working class. After endless research, the organizer concluded that her money would be put to better use on the local level through not-for-profit credit unions.

• With the Durbin Amendment in effect, banks will still make 19¢ profit per processed transaction [*1]

• The average consumer uses his/her debit card 24 times per month [*2]

• Without the additional fee, Bank of America stands to turn a $3,228,480,000 annual profit from its 59 million customers' debit card transactions [*3]

• Without the additional fee, Wells Fargo stands to turn a $2,626,560,000 annual profit from its 48 million customers' debit card transactions [*4]

• Without the additional fee, JP Morgan (Chase) stands to turn a $4,924,800,000 annual profit from its 90 million customers' debit card transactions [*5]

The organizer, Kristen Christian has said, "I started this because I felt like many of you do. I was tired-- tired of the fee increases, tired of not being able to access my money when I need to, tired of them using what little money I have to oppress my brothers & sisters. So I stood up. I've been shocked at how many people have stood up alongside me. With each person who RSVPs to this event, my heart swells. Me closing my account all on my lonesome wouldn't have made a difference to these fat cats. But each of YOU standing up with me... they can't drown out the noise we'll make."

Sources:

[1] http://www.natlawreview.com/article/credit-union-study-swipe-costs-adds-confusion-to-debit-fee-battle

[2] http://money.bundle.com/article/cash-check-plastic-how-we-pay

[3] http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MzQ1NzV8Q2hpbGRJRD0tMXxUeXBlPTM%3D&t=1

[4] https://www.wellsfargo.com/downloads/pdf/invest_relations/wf2010annnualreport.pdf

[5] http://files.shareholder.com/downloads/ONE/1425507660x0x458380/ab2612d5-3629-46c6-ad94-5fd3ac68d23b/2010_JPMC_AnnualReport_.pdf


This is the beauty of the free market - you get to choose who to do business with!

The premise is that banking with a truly local bank is better than a corporate-level bank because credit unions will have more of a positive impact on the consumer and the local community. It is thought that the more business that credit unions have, the more loans with low rates they will be able to offer to small and medium-sized businesses locally. This will increase growth at the local level as these businesses are able to expand and hire additional employees.

There are those who think this is some big conspiracy to bring down the mega banks and cause a bank run and topple the US economy (as if Bernanke hasn't already set us on that path). Well, maybe it is and maybe it isn't. Kristen does use the terms "brothers and sisters" along with the word oppression and working class. That does sound a bit "Commie"... but I don't believe the conspiracy notion. That being said, I do think that in the end this whole world and national banking cartel mess is set to implode just the same. We have only just begun to see the theft of our fiat based assets through inflation, and what is going on in Europe with their banking and insolvency mess will certainly touch our markets as well.

But honestly, if local credit unions can give you just as good if not a better deal, then maybe a transfer is a good idea. Personally, I prefer dealing with local businesses. I'll shop in a mom and pop store before I shop at a Walmart.

This current financial crisis and the coming tsunami of misery that we will experience as a result of horrendous national and global monetary policy is going to require us to build REAL communities. We might as well start doing that now.

We need to support local farmers, local banks, local stores and local businesses. We will each have to learn some self sufficiency, because the government is not going to be able to help us.

Buy Local. Shop Local. Bank Local.


By the way - here is a wonderful and thoughtful analysis about Occupy Wall Street from Ragamuffin Studies.

Thursday, October 20, 2011

Rand Paul Blocks Rush Job For No Child Left Behind Reauthorization

The "Patriot of the Senate" strikes again!
Bravo!

By making the Senate stick to their procedures, Senator Rand Paul effectively blocked the committee that was planning to meet and vote on the No Child Left Behind legislation (Elementary and Secondary Education Reauthorization Act). The bill had no hearings, no debate and no transparency.

Senator Paul's refusal to unanimous consent regarding the committee's meeting to vote on this legislation stopped it cold.

Senator Paul objected to being given a very limited time to read through the 868-page bill and its amendments. He demanded hearings, which had not been done, in order to obtain testimony and input from teachers and superintendents.





Hopefully, the days of "Pass the bill so you can find out what is in it" are over!


All of these bills and major pieces of legislation are supposed to be debated, and hearings are to be held, before they are voted on. There is supposed to be public input and discussion on legislation which affects every American. It is not only unreasonable, but it is unrealistic, to think that 48 hours is adequate time to address such lengthy bills which have so much importance.

Senator Paul is absolutely correct in his objections.
Thank goodness he understands procedural rules and is trying to make the Senate operate the way it is supposed to.

I'd like to see what's in this 868 page morass of legislation... wouldn't you?

Wednesday, October 19, 2011

The Paul Plan - Restore America



Read the plan here.

and from CATO:

The following are some of the plan’s highlights:

* Paul would immediately eliminate five cabinet-level departments: Commerce, Education, Energy, HUD, and Interior.

* Paul says his plan would cut spending by $1 trillion in the first year alone, and balance the budget in three years without increasing taxes.

* Funding for the wars would end. That’s not isolationism – it’s a common sense position that also reflects popular opinion. In addition, foreign aid spending would be zeroed out.

* Intelligent government reforms are proposed, including privatizing the Federal Aviation Administration and repealing costly Davis-Bacon rules.

* On entitlements, younger people would be given the freedom to opt out of Social Security and Medicare. Spending would be frozen for Medicaid and other welfare programs and they would be converted to block-grant programs.

Good Medicine from the Doctor!

and TODAY is the Black This Out Money Bomb!
Please donate!

Tuesday, October 18, 2011

Peter Schiff Speaks On Cain's 999 Plan And Occupy Wall Street

"They shouldn't be protesting Wall Street ... they should be protesting at Pennsylvania Avenue" - Peter Schiff

Terrific Analysis!


Monday, October 17, 2011

House Republicans Move To Defund The United Nations


It's about time!

Ileana Ros-Lehtinen (R-FLA), Chairwoman of the House Foreign Affairs Committee introduced a 153-page bill (H.R. 2829 - the U.N. Transparency, Accountability, and Reform Act) to gradually defund the United Nations. The bill aims to force the United Nations to change its funding mechanism from the current system of “assessed” contributions to voluntary ones.

Proponents say that this legislation would grant the U.S. – and other member states – to fund only those activities and agencies that it regards as being efficiently managed, and in the national interest.

It was reported that:
the legislation would withhold 50 percent of the U.S. assessed contributions to the regular budget (which does not include peacekeeping) if the U.N. has not moved at least 80 percent of the budget to voluntary funding within two years.

American taxpayers account for 22 percent of the U.N.’s regular operating budget and 27 percent of the separate peacekeeping budget in “assessed” dues. In addition the U.S. provides billions of dollars in voluntary contributions for various U.N. agencies. In FY 2010 the total U.S. contribution was $7.69 billion.

Chairwoman Ros-Lehtinen said:
“What are we paying for?” ... then cited repressive regimes’ membership on the Human Rights Council, a continuing anti-Israel bias, the elevation of member states like North Korea and Iran to leadership positions in various bodies, and corruption scandals.

“Why do we bear the financial burden for this? Every year, scores of member countries that contribute almost nothing to the U.N. vote together to pass the budget. Then they pass the costs on to big donors like the U.S., which is assessed a whopping 22 percent.

In contrast, China pays just three percent. We need a game-changer.”

I couldn't agree more... in fact - how about we kick the UN Gansters out of their building in New York and turn that building into luxury condos or business space. While we are at it we should make the UN Gansters pay their parking tickets!

So far, the House Foreign Relations Committee voted 23-15 for H.R. 2829. It has 125 co-sponsors in the House of Representatives.

Sure, it may not pass the Senate and of course the globalist Obama would veto it ... but hey - you have to start somewhere.

Bravo to Ileana Ros-Lehtinen and those who support this legislation!

Stop Agenda 21!

Let's get the U.S. OUT of the U.N.!!

Thursday, October 13, 2011

Herman Cain Caught In A Lie

Congressman Ron Paul called out Herman Cain the other night regarding Cain's statements about auditing the Federal Reserve. Herman Cain was a former deputy chairman (1992–94) and chairman (1995–96) of the board of directors of the Federal Reserve Bank of Kansas City.

Paul's question was this:
“Mr. Cain, in the past you have been rather critical of any of us who would want to audit the Fed. You have said — you’ve used pretty strong terms, that we were ignorant and that we didn’t know what we are doing, and therefore, there was no need for an audit anyway, because if you had one, you’re not going to find out anything, because everybody knows everything about the Fed,” Paul said.

“But now that we have found and we have gotten an audit, we have found out an awful lot on how special businesses get bailed out — Wall Street, the banks, and special companies, foreign governments. And you said that you advise those of us who were concerned, and you belittled — you say call up the Federal Reserve and just ask them. … Do you still stick by this, that that this is frivolous, or do you think it’s very important? Sixty-four percent of the American people want a full audit of the Fed on a regular basis.”
Cain said:

“You have misquoted me. I did not call you or any of your people ignorant. I don’t know where that came from. You’ve gotta be careful of the stuff you get off the Internet.”

Well, here is the proof that Cain lied:




and watch this:


Tuesday, October 11, 2011

Occupy Wall Street - Some Thoughts

First - this is a great commentary by Peter Schiff with regard to Occupy Wall Street and Michael Moore.





Personally, I think Occupy Wall Street (AKA American Autumn) is another "Obama and Friends" maneuver to distract us from "Solyndra" and the "Fast and Furious" scandals which are gaining momentum thanks to the efforts of Rep. Darrell Issa (R-CA).





Additionally, Some are saying that Occupy Wall Street is the clutch operation that will trigger martial law and suspend the 2012 elections. This so-called "movement" is being given a wink and a nod by the Obama Administration and is Marxist in nature. The unions are out in full force (SEIU et al.) OWS is designed to suck in the frustrated masses who are unemployed - overtaxed - under educated and just plain angry. People are saying that once standard commerce is shut down in so-called "occupied" cities, Obama will/can declare martial law. Sound too conspiratorial? Hmmm... maybe - maybe not.

The whole "American Autumn" thing is not to be taken lightly - and it is pretty obvious that it is being orchestrated by those in power who wish to seize more control and preach the message of Marxism.

Protesting against corporate, banking and government corruption - OK I can see that and I support that.
Demanding free college and free health care and free everything else is nonsense.
Nothing is FREE!
Protesting against Capitalism ... well that's just Marxist garbage.
The Class Warfare these people are promoting is also Marxist garbage.

Speaking of garbage - how about these Commie Liberals clean up the mess they are making where they "Occupy"! Where is all this "respect for the Earth" that they preach?

It's all thug theater.

Tuesday, October 4, 2011

We've Officially Entered The New Recession

From New American:
Last Friday Laksman Achuthan, co-founder of Economic Cycle Research Institute (ECRI), announced that not only has the economy entered a new recession, but that “it’s going to get a lot worse. The vicious cycle is starting where lower sales, lower production, lower employment and lower income [leads] back to lower sales … you haven’t seen anything yet.” Despite some evidence that the economy is growing in places, it’s not enough to overcome the significant array of indicators that Achuthan has used successfully for years to predict the economy. According to The Economist, ECRI has never issued a “false alarm,” and this time should be no different.
On Achuthan's website he states:
ECRI’s recession call isn’t based on just one or two leading indexes, but on dozens of specialized leading indexes, including the U.S. Long Leading Index, which was the first to turn down – before the Arab Spring and Japanese earthquake – to be followed by downturns in the Weekly Leading Index and other shorter-leading indexes. In fact, the most reliable forward-looking indicators are now collectively behaving as they did on the cusp of full-blown recessions, not “soft landings.”
...
A new recession isn’t simply a statistical event. It’s a vicious cycle that, once started, must run its course. Under certain circumstances, a drop in sales, for instance, lowers production, which results in declining employment and income, which in turn weakens sales further, all the while spreading like wildfire from industry to industry, region to region, and indicator to indicator. That’s what a recession is all about.

It's going to get worse.
More government spending is not going to make it any better.
Keynesian interventions by the federal government and the Federal Reserve simply don’t work, or, as noted by Rosenblum of the Dallas Fed, “The patient isn’t responding well to the medicine.” It’s long past time to take the patient off the medicine and let him begin to recover on his own.
(Read the article in its entirety)

People like Peter Schiff and Ron Paul have predicted this and were summarily laughed at and ridiculed. They, however, understand the economics of the situation, and the fact that Keynesian policies practiced by the Obama administration have exacerbated the problems that we face by spending and borrowing more and creating/continuing policies that are choking American business and agriculture. Entitlement spending is unsustainable. People who are relying on the government for jobs and for their general welfare are going to be sadly disappointed.

I hope that people recognize what is coming and have been doing something to prepare for it.
All I can say is this - Don't expect government to help you out.

Monday, October 3, 2011

Debit Card Fees Coming Your Way


Since banks like Wells Fargo, Bank of America and Citibank are now strapped for cash because of all of the toxic loans they have made (and now hold) along with other increased costs of government regulation ... they are going to be raising their rates and one of the things they are doing is to slap you with a $5 a month fee for using your debit card!

That's an extra $60 a year just for the privilege of using your debit card which accesses the money in your savings or checking account when you use your card at a store or restaurant or purchase items online.

Now some people won't care - but it looks like a lot of people do care.
$60 could buy some groceries - or gas.

There's a movement afoot of people who are dumping their accounts in these banks and moving to credit unions or even just stopping the practice of using debit cards (and canceling them) and instead just going to ATM's and withdrawing money that they know they will need for their transactions.

With lots of people canceling their bank accounts with these big banks and pulling their money out - this move to put such a fee on debit transactions just might backfire - similar to what happened when Netflix instituted a $6 per month price increase a few months ago. Netflix is now experiencing some financial difficulty as a result.

The banks have put exemption requirements on these fees, as a way to entice you to keep money in their banks or hold a mortgage with them.

Zerohedge writes:
As for the exemption requirements, they will likely be the same as Bank of Countrywide Lynch's: either have a mortgage with the TBTF behemoth, or have $20k in a deposit account - both which will likely not be much of a help to 90%+ of the bank clients. The biggest problem is that suddenly at risk are $1.9 trillion in deposits - $1 trillion at BofA, $866 billion at Citi. While the financial crisis did little to dent the banks' deposit buffer, it will be highly ironic if it is an act of the banks themselves that begins the great bank run that resets it all.

And don't think for a moment that these fees won't be going up at some later point in time.

Some people are suggesting that now might be a good time to close the account you have in a mega bank like CITI, Bank of America, and Wells Fargo and move them to a local credit union.

Shop local.
Buy local.
Bank local.