The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: ggersh who wrote (211766)	7/22/2009 1:52:22 PM
From: LTK007	Read Replies (2) of 306849

edited:i suppose i will be accused of "preaching to the choir" AGAIN!! But here is quotable bit of i guess others will judge as "o yawn, we KNOW that already!" So go away! "Meanwhile, TARP Special Inspector General Neil Barofsky is unhappy with Treasury Secretary Geithner. In testimony before the House Committee on Oversight and Government Reform, Mr. Barofsky criticized the Treasury for lack of transparency and offered a headline grabbing estimate of the U.S. government's potential maximum cost from the financial crisis: $23.7 trillion. A Treasury spokesperson rebutted the estimate but did NOT offer an alternative figure. Mr. Barofsky, on the other hand, believes his office is acting with courage and integrity, having had the gall to add the numbers up." Geithner has not spoken with Barofsky in 6 months and after yesterday's remarks he is even less likely to return his phone calls. Geithner is remarkably unpopular on the Hill and one wonders how long he will last in office.( edit: He WILL last as long as Obama is a WS TOY--max) The ranking Republican representative on the Committee made a disparaging comparison of Geithner to Bernard Madoff. Another described TARP as a 'Don't Ask, Don't Tell' program. Lastly, Moodys placed $64 billion of Bank of America’s credit card securities on review for possible downgrade. They are currently backed by $93 billion of unsecured consumer credit card receivables. Why? The gross charge-off rate for the cards soared by almost 50% in the past three months, from 9.6% in March to 14.1% in June. Consumers are getting pinched in a big way. " via TSR. my usual disclaimer: i BOYCOTTED the last election, i believe both parties SUCK, and are but butt kissing schmeils of the United Plutocracy of America.Max

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