oh you mean the money that 'we' made while the banks got money from the fed at zero and purchased treasury notes at 3 percent? or the money they "made" by being allowed to fraudulently (imo) hold their 'toxic assets' ( no more mark to market) on their balance sheets that have no correlation with reality, meanwhile raping and pillaging SAVERS?
many of these banks are insolvent....
STILL
furthermore, all we've done with the new finreg is enshrine the TBTF on their sclerotic throne
obviously, our government had to confront the banking panic and restore confidence, but it is the WAY they are allowing this charade to continue
their still kicking the cement laden can down the road, there IS not exit strategy, and even the crook in the treasury, turbo tim, says more bailouts are probably coming...
no, neil, you are not recalling well....don't even get me started....read the RE crash thread where we were discussing the housing bubble and subsequent bank failures ad nausem...or read bailout nation by ritholtz or meltdown by thomas woods...any of those will surely help your recollection <gg>
we can discuss this more, but i have a plane to catch later this morning, so i won't be online to respond...
gifts to unions, gifts to banksters and WE pay the price for those gifts, and these 'gifts' just keep on giving in a bohica sort of way <ng>
<quick edit> my point was the best way to get rid of TBTF is to TYBE (take your business elsewhere)...iow, starve the beast |
