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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (202687)	5/16/2009 6:48:01 PM
From: Elroy Jetson	Read Replies (2) \| Respond to of 306849

In every capitalist nation, insolvent banks are seized by bank regulators and sold to more responsible investors. The TARP welfare program was a serious mistake. Some socialists in the Bush administration thought a TARP welfare program would be cheaper than funding FDIC losses, so they imposed their boondoggle on the nation. The most cloying result is we now have bank management, shareholders, and bondholders whining about the terms of the welfare they're collecting from the government. They would have also whined about collecting nothing if the government had done the right thing and shut them down. It appears that economic depressions provide a large number of venues for naive whiners and complainers. I recommend a cup of hot cocoa and some biscuits - at least it keeps your mouth otherwise occupied for a period of time. .