Somewhere in there, the folks who pay their taxes, their mortgages, and their bills will be royally screwed. The money has to come from somewhere.
I used to think imaginary talk on this board about a Revolution in this country someday being an insane proposition. I still don't think we are there.....yet.
With all the crooked/stupid democraps in the Senate getting huge campaign contributions from this crook, and some even having ‘invested’ with him, it’s a safe bet that they will stretch the SIPC rules to cover this bailout too! (After being exposed as a recepient, Chuckie said he’d return his - ain’t that spaashell!)
P.S. from the SIPC website:
“Funds froim SIPC cannot be used to pay damage claims based on fraud.”,
“does not protect you against fraud”,
“SIPC differs from the Federal Deposit Insurance Corporation, which insures all depositorsof failed banks against loss up to a certain dollar limit. SIPC does not bail out investors but rather replaces “missing stocks and other securities,” when a brokerage is closed. SIPC typically will go to a federal judge and request a trustee be appointed to liquidate the firm.”
Can’t you just see all those people at the Palm Beach Country Club, with their noses in the air, drinks in hand, pinkie fingers stuck out, etc... Too bad, you idiots - those suckers who believe in personal responsibility may win yet!!!