>>Now I need this observation to somehow translate to something Barrack Hussein Obama is responsible for. He is not responsible for the Goldman Sachs authored TARP program.<<
geithner's PPI whatever program makes TARP look like a great investment.
bush *refused* to let the banks mark to myth, but mr i'm transparent" stepped right up and said, "mr bankers, go ahead and make up whatever value you want for you toxic crap so the public can give 94% non recourse (key freaking word here - non recourse) loans to entities that will bail the banks out of 100% of their toxic asset losses.
goodness gracious... you milk the profits of the wildest gambling binge in history, then you pawn off, courtesy of Obama, trillions in losses on the public and you still get your million dollar bonuses. that's Obama-land.
oh, and didn't dodd say it was Obama's treasury that stepped in and said make those AIG bonuses good? wasn't it Obama that nixed any effort to limit those bonuses? wasn't it Obama that allowed million dollar bonuses to go to fannie and freddie administrators (for what, being a trillion dollar sink hole?)?
>>I agree we are in deep crap.
But I understand who got us here.<<
yes, bush. congress (including Obama - last i checked he was in congress before becoming president). banker and wall street greed bags.
>>Obama has to play the hand that he inherited.<<
and he's flashing the bankers everyone else's hand. this isn't difficult to see.
>>Whether it is right or not, the decision has been made to salvage the banking system.<<
and Obama has fallen right into line, no different, perhaps even worse (mark to myth Obama) than bush (bush refused to let the banker's LIE ABOUT THEIR FINANCIALS!)!
mr "transparency" SUPPORTS lying about financials when bush made them tell the truth! isn't it grand?
>>It is too soon to pass judgement on the eventual wisdom of this call, but it was obvious that serious steps needed to be taken.<<
no it isn't - putting the public on the line for 94% of the banks' bad bets with a non recourse loan is r*ping the tax payer and i can make that call right freaking now - and i think you know it, too.
"nonrecourse" has a specific meaning - if they default, the tax payers can do nothing but pay out the yang. Obama lies and says he did everything he could to protect taxpayers - he's LYING. protecting the tax payers would include a recourse loan with assets to back up the 94% loan and not allowing the assets to be sold to mark to myth.
yes, geithner's toxic asset transfer and mark to myth are SOLELY creations of Obama and his team. combined, both of these banker give aways are significantly worse than TARP.
this is obvious, no?
i watched the monty python's "life of brian" tonight and was struck how much the scene where the two jewish groups were fighting in their effort to kidnap pilate's wife while the roman guards looked on was analogous to the bankers watching the democrats and republicans fight it out.
Obama is screwing you every way to sunday, but you are so busy hating republicans (and in many ways they deserve what they get) that you don't really care to see what is actually going on.
democrats have *major* problems, too. here in CA, the democratic legislature raised taxes on the unemployed (with 20% unemployed and underemployed) to pay for their government largesse - think the GM of government.
screwing the little guy, the down and out guy, while letting the billionaires run wild isn't a plank of the democratic party, BUT IT IS WHAT THEY DO.
wake up - they are *all* liars and out to protect the uber elite who will pay $10s of millions to Obama once he leaves office. |
