The Turner Radio Network stated that it had obtained "stress test" results for the top 19 Banks in the USA.

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- The Turner Radio Network stated that it had obtained "stress test" results for the top 19 Banks in the USA.

Blog highlights:
The most salient points from the stress tests appear below.

1) Of the top nineteen (19) banks in the nation, sixteen (16) are already technically insolvent.

2) Of the 16 banks that are already technically insolvent, not even one can withstand any disruption of cash flow at all or any further deterioration in non-paying loans.

3) If any two of the 16 insolvent banks go under, they will totally wipe out all remaining FDIC insurance funding.

4) Of the top 19 banks in the nation, the top five (5) largest banks are under capitalized so dangerously, there is serious doubt about their ability to continue as ongoing businesses.

5) Five large U.S. banks have credit exposure related to their derivatives trading that exceeds their capital, with four in particular - JPMorgan Chase, Goldman Sachs, HSBC Bank America and Citibank - taking especially large risks.

6) Bank of America`s total credit exposure to derivatives was 179 percent of its risk-based capital; Citibank`s was 278 percent; JPMorgan Chase`s, 382 percent; and HSBC America`s, 550 percent. It gets even worse: Goldman Sachs began reporting as a commercial bank, revealing an alarming total credit exposure of 1,056 percent, or more than ten times its capital!

7) Not only are there serious questions about whether or not JPMorgan Chase, Goldman Sachs,Citibank, Wells Fargo, Sun Trust Bank, HSBC Bank USA, can continue in business, more than 1,800 regional and smaller institutions are at risk of failure despite government bailouts!

The debt crisis is much greater than the government has reported. The FDIC`s "Problem List" of troubled banks includes 252 institutions with assets of $159 billion. 1,816 banks and thrifts are at risk of failure, with total assets of $4.67 trillion, compared to 1,568 institutions, with $2.32 trillion in total assets in prior quarter
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Well, old Hal has released an 'Update'. And, guess what report he linked to;
http://www.reuters.com/article/pressRele....
He also linked to this WSJ story;
http://online.wsj.com/article/SB12401936....

The new section says;
http://turnerradionetwork.blogspot.com/2....
UPDATE 0147 HRS EDT Monday, April 20, 2009 --

For those who may be skeptical about the veracity of the stress test report above, be reminded that only last Sunday, April 12, this radio network obtained and published a Department of Homeland Security (DHS) Memo outlining their concerns that returning US military vets posed a domestic security threat as "right wing extremists." That memo, available here, is marked "FOR OFFICIAL USE ONLY" and contained strict warnings that it was not to be released to the public or to the media. We obtained it and published it days before other media outlets.

That DHS report appeared on this blog at least two full days before the story was picked up by The Washington Times, and virtually every other US media outlet.

Details of certain aspects of the stress test reported above have now been CONFIRMED through REUTERS News service when they disclosed the risk-capital percentages publicly on April 6, 2009 at this link

Further, todays Wall Street Journal (April 20, 2009) is confirming at this link that lending by the largest banks has DECREASED 23% since the government began the T.A.R.P. program, causing many in Congress to ask where the money has actually been going. Apparently, it has been going into propping-up the failing banks instead of out in loans to the public.

Additional details and proofs are forthcoming. . . . . continue to check back on this developing story.


It will be interesting to see what kind of trouble he gets into, or doesn't.
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By Vincent Del Giudice and Nick Baker

April 20 (Bloomberg) -- A U.S. Treasury spokesman said there’s no basis to a blog posting that buffeted financial stocks by saying that most of the nation’s largest banks are insolvent.

Andrew Williams, a Treasury spokesman, dismissed the report from Hal Turner of North Bergen, New Jersey, “particularly given we don’t have stress test results yet.” Turner has advocated violence against blacks, Jews and immigrants on his Web site and Internet radio show, according to the Anti- Defamation League, created in 1913 to monitor anti-Semitism.

The Financial Select Sector SPDR Fund, an exchange-traded fund tracking banks, brokerages and insurers, fell to $10.62 from $10.75 in six minutes after FlyOnTheWall.com cited Turner’s blog post at 8:14 a.m. in New York. At 8:30 a.m., FlyOnTheWall advised readers to disregard the earlier story.

The XLF, as the financial ETF is known, sank as low as $10.26 at 12:48 p.m. in New York after JPMorgan Chase & Co. said banks worldwide are likely to realize about $400 billion more in losses on soured assets, requiring further injections of government capital.

In his blog posting, Turner said 16 of the banks are “already technically insolvent.” He mentioned HSBC Holdings Plc as one of the lenders. HSBC isn’t among the 19 banks being examined, according to the government.

Reached by telephone, Turner declined to say who would have given him the government’s so-called stress test of the 19 biggest U.S. banks. The Federal Reserve has said it plans to release results on May 4.

Turner, when asked if one of the quotes on the ADL Web site sounded like something he once said, replied that “it certainly fits the niche of the radio show at the time.”

To contact the reporters on this story: Vincent Del Giudice in Washington vdelgiudice@bloomberg.net; Nick Baker in New York at nbaker7@bloomberg.net.
Last Updated: April 20, 2009 13:10 EDT
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Monday, April 20, 2009
U.S. Securities & Exchange Commission calls TRN about "Stress Test" Story

North Bergen, NJ -- This afternoon at around 3:00 PM eastern US time, Turner Radio Network (TRN) received a call from John Polesi at the U.S. Securities & Exchange Commission in Washington, DC.

Mr. Polise asked about our story concerning the "stress test" as reported lower on this page. He specifically asked if we did, in fact, have a copy of the report?

I asked why he wanted to know? He replied "it is a material document."

He went on to say that the SEC is trying to determine what aspects of the report - if any - the SEC might require publicly traded companies to disclose publicly. I replied that I am aware that such discussions have been taking place between the SEC, the US Treasury and the Federal Reserve and that reports of those discussions have appeared in the main stream media of late.

He then asked "If I send you a request for documents, will you send the report to me?" I replied, "Would the request be a Subpoena?" He responded "No" and then asked, "If the request did come in the form of a Subpoena, if I got the Commission to approve one, would you supply the document?" I responded "We would have to speak with our legal counsel first, but I suspect we would move to quash any such Subpoena."

He thanked me for my time and hung up.

Caller ID indicated the call originated from 202-551-2000, but that is a non-working number. So we called directory assistance in Washington, DC and obtained the correct number for the US SEC.

After dialing the correct number, we got an automated attendant and selected 5 for the SEC media office. A young man named Kevin answered and confirmed for us that John Polise does work for the Enforcement Division of the SEC and that all telephone calls originating from their office show up on caller ID with that non-working phone number. As such, it appears this inquiry was legitimate.

Clearly, our report about the bank stress test results has struck a raw nerve in Washington, DC and elsewhere. To have both the United States Treasury comment on our story and the United States Securities and Exchange Commission call us literally within hours of our report indicates how seriously the powers-that-be are taking our revelations.

If there was nothing to our report, why all the fuss?

If they think anyone at TRN might be intimidated by a federal inquiry, they are sadly mistaken.

We have successfully defeated investigations by the FBI, The Joint Terrorism Task Force, The US Secret Service, the US Marshal Service, the US Capitol Police and a host of state and local law enforcement agencies over the past eight years of our existence. The SEC doesn't phase us at all.

We've ruffled a lot of feathers with this report. Stay tuned for further developments.
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FBI spied on TEA Party Americans

Exclusive to the Northeast Intelligence Network & Canada Free Press

Douglas J. Hagmann, Director & Judi McLeod, Founding Editor, Canada Free Press

April 2009: Even as average Americans were planning to get out in towns and cities to demonstrate against Big Government and Big Taxes, Federal Bureau of Intelligence Investigation (FBI) surveillance was being unleashed upon them. In fact, unsuspecting Tax Day TEA Party participants were being closely watched during the demonstration planning stages in a covert operation that began on or about March 23, 2009.

If you were one of the estimated 750,000 Americans who attended one of about 600 TEA parties last week, you might have seen media cameras covering the event. Media cameras, however, were not the only cameras taking video at these events, something that has at least one current FBI agent concerned over the future of America. According to this agent - the same agent who provided the Northeast Intelligence Network (NEIN) exclusively the unreleased photographs of the 11 missing Egyptian students who were the subject of a FBI BOLO in August 2006–placed his concerns for true patriots of the U.S. over his own career when he confided that covert surveillance was “planned and performed” at each of the TEA parties that took place last Tuesday.

“Listen to what I am saying,” stated the source during an interview with Doug Hagmann, founder (NEIN). “The Department of Homeland Security Intelligence Assessment that is receiving so much attention is just the tip of the proverbial iceberg, and the true patriotic citizens of this country are on the Titanic. This is what bothers me. But it goes far beyond that assessment. There have been very significant changes made over the last few years that redirect the focus and assets of the intelligence community internally. These changes have greatly accelerated under this administration, and the threats have been redefined to include those who used to be patriots. It’s not only chilling but absolutely insulting to God-fearing Americans.”

According to this unimpeachable source, a single-page confidential directive issued by the FBI headquarters in Washington, DC (FBIHQ) was sent to each of the 56 field offices located across the United States on or about March 23, 2009, instructing the Special Agents in Charge (SACs) of those offices to verify the date, time and location of each TEA Party within their region and supply that information to FBI headquarters in Washington. The source stated this correspondence termed the TEA parties “political demonstrations,” and added that the dissemination of the directive was very tightly controlled. “Not all agents were privy to this correspondence,” stated the source, who compared the dissemination to an older “Do Not File” classification.

In addition to obtaining or confirming the location and time of each “demonstration,” each field office was instructed to obtain or confirm the identity of the individual(s) involved in the actual planning and coordination of the event in each specific region, and include the local or regional Internet web site address, if any. The information collected by region was then reportedly sent to FBI Headquarters.

The source alleges that a second directive was issued on or about April 6, 2009 that reportedly instructed each SAC to coordinate and conduct, either at the field office level and/or with the appropriate resident agency, covert video surveillance and data collection of the participants of the TEA parties. Surveillance was to be performed from “discreet fixed or mobile positions” and was to be performed “independently and outside of the purview of local law enforcement.”

Although the level of detail collected from each operation is unclear, the information was reportedly submitted to Washington, where, “at the level of the National Security Branch (NSB), this information was to “include the office of the Directorate of Intelligence (DI), and integrated with a restricted access database, one that reportedly is accessible to only two agencies” of the 14 agencies that comprise the U.S. intelligence community, according to the source.

“The implications to the citizens of the U.S. are ominous. It seems that there is a hostile political agenda coming from Washington that characterizes the supporters of our constitutional freedoms as threats to our domestic security, which is totally absurd. The redirection, the refocusing of domestic threats from al Qaeda cells to ‘flag waving right-wingers’ is something that has gone from a murmur a few years ago to a roar today.”

Training government-issued cameras on ordinary citizens, many of whom brought their children to an estimated 600 Tax Day TEA Parties is a page torn out of George Orwell’s 1984 and makes the term “God Bless America” more meaningful than ever.

The Northeast Intelligence Network and Canada Free Press expect the government’s denial of the surveillance of the TEA Parties to go viral as soon as this story is posted.
Doug Hagmann on The Q-Files Radio show Monday

Doug Hagmann will be a guest with Steve Quayle on The Q Files Radio show on Monday, 20 April 2009. Click HERE to listen live on-line.