How many ways can banks misuse bailout money? How many ways can the American taxpayer be screwed?
How many ways can banks misuse bailout money? How many ways can the American taxpayer be screwed?
Tax Cheat Timmy has no clue what he is doing. Obama can’t open his mouth without sticking his foot in it. There is no hope, his first 50 days are highlighted by a bowling alley in the White House, watching the NCAA Basket Ball Championships, jet setting on late night television while insulting “retards” (in his words) and a cabinet littered with vacancies. There is no time for this clowning around. When you offer people positions & they shun you as if you are a “Leper”, that should be enough of a warning sign. Normally people lust for positions of such power. In reality there is no one who can fix our financial system. It has to be scrapped, starting over with a clean slate. Both sides are as equally responsible. We are in a deflationary credit collapse. Similar to the one in 1873. Not the 1930’s. There is no safe place to hide, it is world wide. In perspective we will not suffer as much as the rest of the world but the rest of the world will be able to handle it better than we will. We have become a nation of lazy, incompetent & obese people controlled by greedy elitist. The next event in our economic system will be a bond market dislocation, an all out collapse. The bold brazen Bankers fueled by greed & a sense of righteousness are now hiding in complete terror. Haunted by fan mail, describing in detail plans to sever their heads from their bodies with piano wire, family members included. I am deeply concerned about our countries future, Obama has stated it will get worse before it gets better. Worse does not happen in 50 days. We have yet to see the full consequences of our actions. Mrs. Obama is planting a garden, “My hope,†the first lady said in an interview in her East Wing office, “is that through children, they will begin to educate their families and that will, in turn, begin to educate our communities.†You have to read between the lines, we can not expect our government to be forthright about our future. I hope a knight in shining armor appears & magically rescues us all, as I recall that is what our current president was supposed to be. So far that fairy tale figure is proving to be human just like the rest of us. I also hope I have an overactive imagination & I am making more of it than it is. So far it hasn’t been. The top financial advisers suggest to invest in real assets & to carry no debt. Just in case things turn out to be 1873, protect yourselves & your families, have a plan “B”.
You know, I think Krugman WAS one of Obama’s finance advisers during the campaign. Not positive but pretty sure so why aren’t they connecting?
Welcome sinbrew, I think you’ll like it here. I’ve had too much time on my hands and have been following the characters in this bailout BS. I mean really, Paulson leaves Goldman Sachs, goes to Treasury. Goldman received hugely more than the other banks. Obama appoints to Treasury the guy who ran the NY Fed Reserve (which in case some don’t know is A PRIVATE BANK – not a division of the US Gov. You know I tried to rationalize why Obama appointed Geitner, I wanted to think he HAD to have someone who knew the ‘ropes’ so to say. How long would it have taken an outsider to figure his way around the mess that is this financial melt-down? But I fear it’s much worse than that. Obama said yesterday he is absolutely behind what Geitner is doing. I ain’t got no kolludge degree, but I figured this one out on my own. What I really cannot figure out is why he isn’t at least bringing in and listening to Paul Krugman THAT is my question, and that is troubling. What kind of change is Geitner making? What else does he know except what he’s been doing which is gutting the country as the head of the Fed in NY.
Welcome sinbrew. Good question? Notwithstanding we still had Bush in the White House and TARP was the Paulson’s baby the democrats did have a majority in both houses. In truth, I think the economics of this country are so complex as to be beyond comprehension of most of our elected officials.
There is a new book call Lords of Finance: The Bankers Who Broke the World by Liaquat Ahamed. He discusses the parallels between this depression and the ‘other’ one. I haven’t read it yet but I plan to get on my new Kindle.
Where was the Congress back when the bailout funds were approved? Even I thought strict control of how the funds were to be used would be absolutely necessary. For example, how about telling the banks they could not use the money for bonuses?…or buying other banks? So now they (Congress) thinks about the problems of giving unrestricted money? Come on, some of us aren’t that stupid.