Bankster Meetings Revealed: Yellen's 2014 Calendar To Date

WSJ has posted the calendar of Fed Chair Janet Yellen, to date, that was obtained by a Freedom of Information request. It's here.

I think what is most notable about Yellen's schedule is how limited is the number of people she stays in contact with. It's pretty much other US government officials, global central bankers and typical lurkers near power, such as Alan Blinder and Jeffrey Sachs.

Outside of these tight communities, it seems the only people she has time for are the banksters.

On April 4, she met with Goldman Sachs CEO Lloyd Blankfein and she has a June 5 entry which is identified as a meeting with Blackrock, but lists no individuals.

The State of the PIIGS

Here's the one chart that explains the eurozone crisis. Market participants are requiring higher and higher interest rates to hold debt issued by the PIIGS. The higher interest rates make it more and more difficult for the PIIGS governments to bring their budgets under control.

The only sound solution is for the PIIGS to go bankrupt and stick the hurt on those who were willing to hold the PIIGS paper in the first place---mostly the banksters. Instead, the PIIGS, with the banksters in the shadows, are imposing austerity (read: higher taxes) which smothers the PIIGS economies even more. Thus, the European Central Bank will eventually step in to prop up the sovereign debt by money printing, which will result in huge price inflation in the EZ.

Click on chart for larger view,

Romney Heads to Boston to Hit Up Banksters for Cash

A friend in Boston finance emails:

For what it's worth, Mitt Romney is coming to Boston for a few fundraisers early next week. I know this because my firm is hosting one for him. He's also hitting [hedge fund] Baupost, [global consulting firm]Bain and a few other big boys in town. He's the banksters man!

Banksters Win Again: Sócrates Calls for Portuguese Bailout

Portugal's Prime minister, José Sócrates, said in a televised address to the nation on Wednesday night that the Portuguese government will ask for an international bail-out.

“The government decided today to ask the European Commission for financial help,” Socrates said.

“I tried everything, but in conscience we have reached a moment when not taking this decision would imply risks that the country should not take,” he said.

Translation:The banksters win again.

The clear alternative would have been to default on the debt and let the banksters and others holding the debt suffer the losses. Instead, economic hit men will roam the country imposing "austerity" by squeezing every penny they can out of the people of Portugal, so that the banksters are paid in full (with interest).

One-Tenth of All U.S. Banks on FDIC Problem List, But Not the Banksters

"The banking system still has many problems to work through, and we cannot ignore the possibility of more financial market volatility," FDIC Chairman Sheila Bair said, reports WSJ .

Regulators have shut 72 banks so far this year, more than double the number closed by this time last year. Ms. Bair said regulators were preparing for a steady pace of additional closures through the end of the year. A total of 237 banks have failed since the beginning of 2008.

"There is a lot of credit distress still in the mortgage-portfolio area," FDIC Chief Economist Richard Brown said at the FDIC briefing for WSJ.

The FDIC data, according to WSJ, suggested that the largest U.S. banks were faring better than their smaller rivals--which should come as no surprise since they are the ones that received bailout money and trade, as primary dealers,  opposite the Fed, where they have been gifted profits through trades.

The Banksters Who Are Stuck with Greek Debt

From Bankingnews.gr

At the time of accepting the Greek toxic bonds repo agreements some banks such as Commerzbank and HSBC had entered into repo with Greek banks from 1.5 to 2 billion each.

These banks have sought various ways to get rid of the Greek bonds, but the repo does not break easily.

From foreign banks big exposure to toxic Greek bonds - say toxic as these CDS spread and toxic only be described - are:

BNP Paribas 5 billion multi-repo in Greek banks.

The Commerzbank 3.1 billion in repo to a large Greek bank.

The HSBC 2 billion in bonds through repo Greek by a Greek major bank
.
The Societe Generale 3 billion

The Natixis to 830 million.

The BNP Paribas said it would retain the Greek bonds over the next 2-3 years (5 billion) and borrowings of Greek (3 billion euros)

The Credit Agricole 500 mn euros Zurich Finance 400 mn dollars, AXA 500 mn euros.

The French banks and insurance companies have the greatest exposure to toxic Greek bonds.

Positive support of the Greek debt and Dutch banks hold funds with 12 billion.


The Greek bond ING holds 3 billion and Rabobank 300 million

(ViaZeroHedge)