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Author Topic: Major lender in transportation industry - CIT - near financial failure!  (Read 2783 times)
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Kat
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« on: October 27, 2009, 12:51:49 PM »

Grim news on the financial front:


CIT is probably going to go bankrupt in the next 10 days, so the article says. They are shopping for new investors. This corporation has been in business over 100 years & is a lender to the transportation industry:  aerospace, airlines, rail & transportation. A billionaire, Carl Icahn, has funded them in the recent past. Now they need more and he is willing to help them again, with stipulations. This will be the 5th largest bankrupcy in US history, if this happens.

This could be the tipping point that the web bot masters have been predicting. They are thinking it could be.

From Reuters:

"In the new offer, CIT raised the interest rate payable on its $2.15 billion series B notes to 10.25 percent a year from 9 percent, and extended the closing date of the exchange offer to Nov. 5 from Oct. 29.
 ...
New York-based CIT is trying to restructure its debt by getting debtholders to exchange their notes or to agree to a prepackaged bankruptcy."

From CIT -- HERE & HERE

Article from Yahoo - HERE.

52 wk range 13.00 - .31

At CIT's best and worst: in mid 2007, CIT reached $61.30, a share, on June 5, 2007, for the high; and, $0.31 on July 16, 2009, for the low.
Lifetime hi-lo: $61.30 - $0.31.





Then, Glenn Beck is talking about about our financial system crashing & to brace for impact. Plus, he's written a new book about the US hostile takeover that comes out next year.

Our bonds are crashing. No one wants them anymore.

From WSJ: Treasury prices tumbled to their lowest level since late August on Monday as the government's plans to sell a record $123 billion of debt this week loomed over the market.




From WND, Jerome Corsi's new book "America For Sale" he discusses Obama selling off our assets to China. Which he can. We have a government run financial system. FHA, VA, Fannie Mae, Freddie Mac. The government has been buying or confiscating land.


This man in the White House, along with his communist comrads and allies, are taking the United States of America down to it's knees.  We are selling missiles to China!  The RED China military is (or will be soon) in the US to check out OUR military bases.  We are going to have a health care program (that no one wants) rammed down our throats, at a huge expense to this nation.  We are going to be taxed to death soon.  Our jobs (the ones left) are going to the unions or overseas.  They are going to block fishing!  They will monitor and regulate our energy usage!

Glenn Beck could be right with the "hostile takeover".  If we cannot repay these massive loans, we are in default.  China has already stated they want security for their loans to us.  I do not know what we've offered as collateral -- if anything.

Thangs are getting grim, kiddos! Prepare!

« Last Edit: October 27, 2009, 01:28:10 PM by Kat » Logged

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Kat
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« Reply #1 on: October 27, 2009, 01:30:58 PM »

From NewsWithViews:



WAS AMERICA SOLD?

Link

By Nancy Levant
July 3, 2009
NewsWithViews.com

In 1992, George H.W. Bush signed Executive Order 12803, which gave D.C. the authority to sell America’s infrastructure. They called this authority “Infrastructure Privatization.” E.O. 12803 tells us this power cleared the way for the “disposition or transfer of an infrastructure “asset” such as by sale or by long-term lease from a State or local government to a private party.”

E.O. 12803 also lists examples of America’s saleable and/or lease-able infrastructure:

• Roads
• Tunnels
• Bridges
• Electricity supply facilities
• Mass transit
• Rail transportation
• Airports
• Ports
• Waterways
• Recycling/wastewater treatment facilities
• Solid waste disposal facilities
• Hospitals
• Prisons
• Schools
• Housing

E.O. 12803 tells us that this list represents infrastructure “examples.” Let us, therefore, assume that this is not the complete list of America’s saleable infrastructure. However, this list is a stunning confession.

Notice that all items listed in 12803 are the very same infrastructure items listed in all Martial Law Executive Orders (see here). Martial Law kicks in to power during declared states of emergency and with the single signature of the president. Strangely (and ignorantly), we currently have multiple declared states of emergency:

• Act of March 9, 1933, a declared state of emergency at the request of the Federal Reserve Bank of New York. This state of emergency was never lifted.

• Global pandemic - Level 6
• Mortgage/housing crisis
• Banking/lending crisis
• Automobile industry crisis
• Insurance industry crisis
• Healthcare crisis
• Southwestern border crisis
• Black market drug crisis
• National education crisis
• Nature/global warming crisis
• Jobs/unemployment crisis
• On-going weather and forest fire crises
• Extreme and unread congressional legislation crisis due to on-going crises

What are the odds of complete and total social and “natural” crisis in every single facet of our lives and all at the same time? I will tell you how it was accomplished with simple math:

Federal Reserve System + Politicians + Tell-A-Vision = Assembly Line Crises. It is called the Hegelian Dialectic Show.

Everything in the country, including the current planet-sized medical emergency, is in crisis. So enters Martial Law.

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« Reply #2 on: October 27, 2009, 01:41:43 PM »

This is the full text of Executive Order 12803, President George H.W. Bush, 1992.  The archive.gov has it buried somewhere that is not easily found. So, I gave up and located it  -- HERE.


Title 3
Executive order 12803
of April 30, 1992
57 FR 19063 / May 4, 1992

TEXT: By the authority vested in me as president by the laws of the United States of America, end in order to ensure that the United States achieves the most beneficial economic use of its resources, it is hereby ordered as follows:

Section 1. Definitions. For purposes of this order: (a) “Privatization” means the disposition or transfer of an infrastructure asset, such as by sale or by long-term lease, from a State or local government to a private party.

(b) “infrastructure asset” means any asset financed in whole or in part by the Federal Government and needed for the functioning of the economy. Examples of such assets include, but are not limited to: roads, tunnels, bridges, electricity supply facilities. mass transit, rail transportation, airports, ports. waterways, water supply facilities, recycling and wastewater treatment facilities, solid waste disposal facilities, housing, schools, prisons, and hospitals.

(c) “Originally authorized purposes” means the general objectives of the original grant program; however, the term is not intended to include every condition requires for a grantee to have obtained the original grant.

(d) “Transfer price” means: (i) the amount paid or to be paid by a private party for an infrastructure asset, if the asset is transferred as a result of a competitive bidding; of (ii) the appraised value of an infrastructure asset, as determined by the head of the executive department or agency and the Director of the Office of Management and Budget, if the asset is not transferred as a result of competitive bidding.

(e) “state and local governments” means the government of any state of the United States, the District of Columbia. any commonwealth. territory, or possession of the United States, and any country, municipality, city, town. township, local public authority, school district, special district, intrastate district, regional or interstate governmental entity, council of governments, and any agency or instrumentality of a local government, and any federally recognized Indian Tribe.

Sec. 2. Fundamental Principles. Executive departments and agencies shall be guided by the following objectives and principles: (a) Adequate and well-maintained infrastructure is critical to economic growth. Consistent with the principles of federalism enumerated in Executive Order No. 12612, and in order to allow the private sector to Provide for infrastructure modernization and expansion, State and local governments should have greater freedom to privatize infrastructure assets.

(b) Private enterprise and competitively driven improvements are the foundation of our Nation’s economy and economic growth. Federal financing of infrastructure assets should not act as a barrier to the achievement of economic efficiencies through additional private market financing or competitive practices, or both.

(c) State and local governments are in the best position to assess and respond to local needs. States and local governments should, subject to assuring continued compliance with Federal requirements that public use be on reasonable and nondiscriminatory terms, have maximum possible freedom to make decisions concerning the maintenance and disposition of their federally financed infrastructure assets.

(d) User fees are generally more efficient than general taxes as a means to support infrastructure assets. Privatization transactions should be structured so as not to result in unreasonable increases in charges to users.

BACK TO POLICY HOMEPAGE
   Sec. 3. Privatization initiative. To the extent permitted by law, the head of each executive department and agency shall undertake the following actions: (a) Review those procedures affecting the management and disposition of federally financed infrastructure assets owned by State and local governments and modify those procedures to encourage appropriate privatization of such assets consistent: with this order;

(b) Assist State and Local governments in their efforts to advance the objectives of this order; and

(c) Approve State and local governments’ requests to Privatize infrastructure assets, consistent with the criteria in section 4 of this order and, where necessary, grant exceptions to the disposition requirements of the “Uniform Administration Requirements for Grants and Cooperative Agreements to State and Local Governments” common rule, or other relevant rules or regulations for infrastructure assets; provided that the transfer price shall be distributed, as paid, in the following manner: (i) State and local governments shall first recoup in full the unadjusted dollar amount of their portion of total project costs (including any transaction and fix-up costs they incur) associated with the infrastructure assets involved; (ii) if proceeds remain, then the Federal Government shall recoup in full the amount of Federal grant awards, associated with the infrastructure assets, less the applicable share of accumulated depreciation on such asset (calculating using the Internal Revenue Service accelerated depreciation schedule far the categories of assets in question); and (iii) finally, the State and local governments shall keep any remaining proceeds,

Sec. 4. Criteria. To the extent permitted by law, the head of an executive department or agency shall approve a request in accordance with section 3(c) of this order only if the grantee: (a) Agrees to use the proceeds described in section 3 (e)(iii) of this order only far investment in additional infrastructure assets (after public notice of the proposed investment) or for debt or tax reduction; and

(b) Demonstrates that a market mechanism, legally enforceable agreement, or regulatory mechanism will ensure that: (i) the infrastructure asset or assets will continue to be used for their originally authorized purposes; and (ii) user charges will be consistent with any current Federal conditions that protect users and the public by limiting the charges.

Sec. 5. Government-wide coordination and Review. In implementing Executive Order Nos. 12291 and 12498 and OMB Circular No. A-19, the Office of Management and Budget, to the extent permitted by law and consistent with the provisions of those authorities, shall take action to ensure that the policies of the executive department and agencies are consistent with the principles, criteria. and requirements of this order. me Office of Management and Budget shall review the results of implementing this order and report thereon to the President one year after the date of this order.

Sec. 6. Preservation of Existing m Authority. Nothing in this order is in any way intended to limit any existing authority of the heads of executive departments and agencies to approve privatization proposals that are otherwise consistent with law.

Sec. 7. Judicial Review. This order is intended only to improve the internal management of the executive branch, and is not intended to create any right or benefit, substantive or procedural, enforceable by a party against the United States, its agencies or instrumentality’s, its officers or employees, or any other person.

/a/ George Bush

THE WHITE HOUSE

April 30, 1992.

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