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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: Wayners who wrote (155797)	2/27/2009 3:14:33 PM
From: geode00	Respond to of 173976

The losses to the system are the losses from mortgages (subprime, alt a, prime, commercial, etc.) less whatever value is left in the properties, the losses from car loans, student loans, commercial loans, credit card defaults, etc. When the original griping about the subprime mortage market started, the losses should have been $1 TRILLION or so at best. The monies allocated by the government ($750 B plus much more from the Fed and other government agencies) should have covered everything but that doesn't seem to be the case. Since Paulson and Kashkari didn't or couldn't or refused to keep track of where the original bailout money went to and since Bernanke seems to be doing the same with his money, who the heck knows? Bernanke's recent testimony and that of the big bankers didn't appear panicked. There is a big difference from last year. Something is up. I don't know what it is but I suspect massive fraud before the bailout and after the bailout. I don't want their toxic assets, I want the money back in the treasury.