Posted on 04/01/2009 12:00:03 PM PDT by joshua1222
" By current leakage, their plan will consist of explicit government insurance for certain bad assets and explicit purchases of other bad assets to be held by a so-called bad bank. For the months or years, then, that it takes to put the plan into effect, the market will have to speculate anew about how each bank's assets will be valued for bailout purposes."
(Excerpt) Read more at online.wsj.com ...
Huh? “The only thing that keeps you and the pitchforks is us, the US govt?” ????
Keeps people with pitchforms from attacking bankers if O decides to demonize them? I am confused.
Their goal is to hold banks hostage because they will have huge power.
No, close but not, the only thing that keeps people with pitchforks from attacking the bankers is if people with pitchforks thinks bankers keeps the money from bailout in condition: follow all the regulations that O wants, examples: replace all the CEO, cap EVERYONES income, and run everything.
Compare the bankers who took TARP funds to the frog who gave a ride to the scorpion across the river, and was shocked to learn he was stung halfway across, even though the scorpion had promised not to.
“I am a scorpion after all” the frog was told.
So DC politicians are deciding which banks will stay in business and how much their most important people are allowed to make. Whew, that’s a relief. For a minute I was afraid bankers might have some cause to bribe public officials!
The public is so dumb they will think everything is free. O’s goons and the newsmedia keep demonizing businesses, CEOs and they always have their fallback in AIG.
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