I NEVER AGREED OR VOTED MY APPROVAL TO PAY FOR THE LARGESS, STUPIDITY, ARROGANCE, INCOMPETENCE OF THOSE WHO CONTINUE TO RUN THIS FINANCIAL SYSTEM.
There is only one answer: bank nationalization. Eliminate current management, eliminate equity stakes and decrease balance sheets. It worked in resolving the S & L Crisis, it will work again. It is not in our interest to support this President or Congress if this is what they want to saddle us and future generations with.
2 comments:
I got an even better one for you ... how about the bank with this crap on their balance sheet creates another entity , and becomes the "private" investor in Geithners plan. Then they can bid anything they want now that they are leveraged up with our money.....
From what I have read in the plan, you are absolutely right. There is nothing to prevent a participating bank from bidding up their own junk and leveraging up the taxpayer. This plan claims to obtain the best results for the public, but it is, in fact, the opposite. Thanks for the comment.
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