PETITION CLOSED

  • The time period for signing this petition has ended.
The Congress of the United States of America: Remove the Derivatives from FDIC Banking institutions
  1. Signatures
    87 out of 100
    Petitioning
    1. The Congress of the United States of America
  2. Created By
    Dean Tsoupeis
    TAMPA, FL
About this Petition Petition Letter Petition Updates

Bank of America has shifted $75,000,000,000,000 (Seventy-Five Trillion Dollars) of derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. JP Morgan is apparently doing the same thing with $79,000,000,000,000 (Seventy-Nine Trillion Dollars) of notional derivatives guaranteed by the FDIC and Federal Reserve. This is illegal and a violation of section 23A of the Federal Reserve Act (12 U.S.C. 371c) and the Board's Regulation W (12 CFR Part 223). All Exemptions must be repealed immediately. All short falls that occur will be the liability of that banking Institution and it's share holders. IF this does not get repealed it will Bankrupt the US Dollar.

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Remove the Derivatives from FDIC Banking institutions

Greetings,

I just signed the following petition addressed to: The Congress of the United States of America.

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Remove the Derivatives from FDIC Banking institutions

Bank of America has shifted $75,000,000,000,000 (Seventy-Five Trillion Dollars) derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. JP Morgan is apparently doing the same thing with $79,000,000,000,000 (Seventy-Nine Trillion Dollars) of notional derivatives guaranteed by the FDIC and Federal Reserve. This is illegal and a violation of section 23A of the Federal Reserve Act (12 U.S.C. 371c) and the Board's Regulation W (12 CFR Part 223). All Exemptions must be repealed immediately. All short falls that occur will be the liability of that banking Institution and it's share holders. IF this does not get repealed it will Bankrupt the US Dollar.
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Sincerely,

[Your name]

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