Bailout Truth: Inflationary Crony Capitalism »
Posted By populist 1 year, 1 month ago in Business & FinanceOne of, if not the primary, undisclosed motivation for the bailout plan before Congress is to provide a financial windfall to the Rockefeller (Citibank) and Morgan (JP Morgan Chase) banking interests. In order to see this, one must look beyond the obfuscating din of Wall Street greed, executive pay, HOPE for homeowners, neighborhood revitalization and other such nonsense and look at the concerted actions of the Bush administration, Citicorp and JP Morgan Chase over the last few weeks. The timeline tells the tale.
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populist
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berkeley1 year, 1 month ago
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"Those that claim that the government will "make money" on the loans or that purchasing these unmarketable securities is a good public investment are either fools or liars. It is of course possible that Congress through the bailout and the Federal Reserve by printing money can effectively double the money supply and that this can, over a course of time lead to a scenario where a $100,000 non-performing loan is satisfied when the underlying property is sold for $200,000. This, however, is not "making money," it is devaluing the dollar."
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would the 74 senators rather be called fools, or liars? how about both? -
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cheif1 year, 1 month ago
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That's the big worry I have - they say the 'taxpayer' will probably get some profit from these expenditures. Never have they identified who that specific 'taxpayer' is - I've heard barry is pushing to get the bigger part of any returns going to his program ACORN - which has wasted billions building low-cost housing projects in the Chicago area using sub prime loans...they want to keep the scam going...there's probably more out there; this was just one example...I think it should go to pay for health insurance for all Americans - should be able to do it with a few billion of OUR dollars....
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