You know that our financial system is totally and royally screwed when FDIC has to borrow funds from banks.

I thought this was satire but I confirmed it after I saw articles in mainstream news.

It is supposed to work the other way around….FDIC is supposed to lend to banks who are at risk or failing. When you see “FDIC Insured” that is supposed to mean that even if the bank fails you will get your money back (up to a certain amount). Now that very fund is borrowing from them? This is such a scam. Guess who’s paying for all this? Clue: It begins with tax and ends with payers.

In the politics of the global financial meltdown, this story is connected and should be watched.

Obama Asks Paterson To Withdraw From NY governor’s Race

Here’s my take on this story based on past experience of NY politics:

Obama asked NY governor Paterson to withdraw from running in 2010 as his ratings are lower than Eliot Spitzer (who was exposed in a prostitute ring because he had investigated AIG and was ready to investigate others in the financial crisis). The disgraced ex-Gov Eliot Spitzer’s ratings currently are low but at 27% and he’s considering a re-run and Paterson’s are only 20%.

One of the people who are considering a run for NY governorship is Andrew Cuomo (son of former NY Governor Mario Cuomo) who is the State Attorney General right now.

Andrew Cuomo has been working on prosecution of the corrupt RICO cronies at Bank of America. Maybe this will extend to Bernanke, Paulson, and Lewis if it ever happens.

However…Obama wants him out of Attorney General’s seat so BoA will never get prosecuted.

Once he’s “elected” governor – I am willing to bet that Cuomo will get pulled over to the dark side and this fake prosecution of BoA turns out to be a publicty stunt and the public will be sorely dissapointed.

New Yorkers love brave and nobel crimefighting people who go after corruption. But once they get elected to office by denouncing corruption and promising to fight it…they show the finger and say “Screw You!”. Either that or prostitutes walk out of their closets.