THE WALL STREET AND BANK BAIL OUT.
October 18th, 2008 by admin
YOU GOTTA LOVE THE WALL STREET BAIL OUT, er um, BANK BAIL OUT.
Ain’t it wonderful to be so big that the government wants to make sure you’re confident?
The government is injecting $250,000,000,000 into the largest, most successful, richest, major BANKS in the country.
Why?
Because they, the banks, are not lending to each other. 
Why?
Because they are not confident.
Why?
Because they don’t trust the balance sheets of their competitors.
Why?
Because too many of them have gone under overnight when off balance sheet hedges, swaps, investments, etc., have caused them to fail.
Why?
Because they didn’t want the Fed, FDIC, SEC, etc. to know how much they are really worth.
Why?
Because there was a huge amount of manipulation and illegality and unregulated activity involved.
Why?
Because they made big bucks on unregulated transactions.
So, in order to give these huge entities, major banks, confidence, the Fed will inject between $25,000,000,000 and $2,000,000,000into them. The bigger thay are, the more of our money they will get.
Ain’t confidence wonderful?
This entry was posted on Saturday, October 18th, 2008 at 12:28 pm and is filed under Mortgage Mess. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.
