The only thing the banks will shake off is their massive trillions in liabilities...off on to the tax payer and U.S. government. You bet they'll recover, because all those dirivatives will be our problem, not theirs.

You don't mind increased taxes and decreased purchasing power to levels you never before imagined...do you?

Out for more ammo cans for the chump change.

Care to back that up?

I didn't care for the bailouts, if I had a say I wouldn't have had bail outs for the banks or the auto companies. I don't get all misty eyed for people who foreclosed due to subprime ARM's on houses they couldn't afford.

I think history will show that most of the TARP money and other government overstepping in the financial market will get repaid, with interest. I don't think they should have done this in the first place, but at least I don't think it was tax dollars down the drain.

Lets not forget that TARP never purchased troubled assets. They provided capital instead. Five of the major receipients have already paid Uncle Sam back: J.P. Morgan Chase, Goldman Sachs Group, Morgan Stanley, Bank of New York Mellon and State Street.

Don't expect to even get a percentage of the principle back from the automakers. This was a huge expense that our kids and our kids kids will have to pay for.

The feds are never going to let go of the banks. if you believe otherwise, you're being naive. Sorry.

One of 13:




Uhhh - 'T rouble A sset Relief'? They provided capital in exchange for bad assets.

I don't know where it stands now as the rules have completely changed and the criminal investigations continue to mount, but in February - Congress found that American citizens purchased $176 billion worth of 'toxic assets' (code for complex mega-high risk gambling securities derivatives that were punishable with jail time for their issuance before 1982) for $254 Billion. So simply put the big banks were given a blank check as of Feb. for $78 billion on our behalf.

We didn't bail out anything - we bought laundering schemes that went bust in exchange for granting more fiscal power to the equity owners of the 'Federal' Reserve. I believe 85 lesser banks have since been gobbled up by big ones you've mentioned.

And if we are to think that the money repaid is going back to our debt hole bottom line - think again. Geither has made it clear that that money is staying with him in 'a relvolving door of credit' for more financial consolidation. It is a white collar fascist coup.



More developments

ôThis estimate includes programs at their hypothetical maximum size, and it was never likely that the programs would be maxed out at the same time.ö

In other words - they will be maxed out - but not at the same time. Pure semantics.

Bodies needed. GO!

A good long read

What the feds do with the banks has nothing to do with the banks repaying the amounts that were "lent" to them.

I didn't comment at all on what the federal governments future actions are going to be.

Believe me, I wasn't talking about the paultry 700 billion.

That's chump change. That's not the problem. The Government spents 700 billion every time it decides the play cowboys and arabs.

The problem is the tens of trillions in everything from liabilities that we can't afford...to another tens of trillions of debt that we will NEVER EVER pay back, to another tens of trillions that we will have to borrow just to keep current functions going over the next decade.

There are three ways to fund those massive liabilities. One is taxes. Two is inflation. Three is borrowing. We generally do all three. The world is about to tell us to kiss their rosey red behind in terms of borrowing, so that baby is just about over.

That leaves inflation and taxes. That means your dollar is going to be worth a lot less. A L O T less. But don't bet on your wages going up. Oh no. It ain't gonna be like the 1970s. I wouldn't be making fun of poor Mexicans and they're peso. We're about to find out what it's like to be poor for real.

And when it's all over, there's no way the government will be able to fund current services, so you kiss everything from medicare to welfare to social security and half or more of the military good bye. Even so, taxes will have to go higher than you can even imagine just to pay for basic services.

Those basic services will be essentially riot police squads who spend their entire days making sure us pissed off Americans don't go all L.A. on the government more than one or two days per week.

The world is a changing. Arguing that it's not, is kind of laughable at this point. It's like saying the world is still flat. I don't have a flag to wrap myself up in anymore. That country died a few years ago. Now I'm just trying to figure out how I'm going to survive going forward.