Our 29 Banking Overlords, Otherwise Known as the Too Big to Fails

Posted on Nov 21, 2011 in Economic News, Federal Reserve & Bankers

Kevin Hayden – TruthisTreason.net

Source: Economic Policy Journal by Robert Wenzel

Here they are – the Financial Stability Board has released a list of 29 banks that it considers global systemically important financial institutions (G-SIFISs) and thus, considered Too Big To Fail.

The initial list of G-SIFIS:

Belgium: Dexia
China: Bank of China
France: Banque Populaire, BNP Paribas, Crédit Agricole, Société Générale
Germany: Commerzbank, Deutsche Bank
Italy: Unicredit
Japan: Mitsubishi, Mizuho, Sumitomo Mitsui
Netherlands: ING
Spain: Santander
Sweden: Nordea
Switzerland: Credit Suisse, UBS
UK: Barclays, HSBC, Lloyds, Royal Bank of Scotland
US: Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan, Morgan Stanley, State Street, Wells Fargo

Hayden’s Note:

It should be pointed out that most of the US “Too Big to Fails” are the major share holders of the Federal Reserve system and the foreign banks are the very ones that Ben Bernanke sent hundreds of billions of dollars to in the last major “bailout.”  The very bailout in which he refused to answer Congressional questions in regards to which foreign banks received American taxpayer money (but was later discovered in the partial audit co-sponsored by Ron Paul).

According to the FSB, Systemically Important Financial Institutions are firms whose disorderly failure, because of their size, complexity, and systemic interconnectedness, would cause significant disruption to the wider financial system and economic activity.

Bottom line: These are the banks through which the banksters operate. Of note, apologist for TBTF bailouts, Warren Buffett, holds major positions in at least three of these banks: Bank of America, Bank of New York Mellon, and Wells Fargo.

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