Rescue the economy? Try the SEALs - If banks act like pirates, they should be treated

Discussion in 'Wall St. News' started by ASusilovic, Apr 13, 2009.

  1. WASHINGTON (MarketWatch) -- President Barack Obama has put the wrong federal agency in charge of the rescue of the financial system. Instead of hiring Tim Geithner and the TARP, he should have hired the U.S. Navy and the SEALs.

    When lawless pirates captured an American sea captain, the Navy put the hostage first. Now he's safe, and the hostage-takers are dead or jailed.
    When lawless bankers captured the global economy, Geithner put the hostage-takers first. And the hostage-takers are stepping up their demands: Change the accounting rules, guarantee us against any losses from the toxic assets, and rig the stress test so we all come out smelling like roses.
    Old-timers may remember with nostalgia the days when it was easy to tell the difference between a major financial institution and a criminal enterprise. Those days are long gone.

    Consider, for instance, the indictment unveiled last week against a San Diego street gang on multiple counts of mortgage fraud. According to federal prosecutors, the gang arranged to buy 220 properties for more than $100 million from 2005 to 2008. They overpaid for the properties by taking out liar loans using phony appraisals. They then funneled a kickback to a company controlled by the defendants, the indictment says.

    Liar loans? Phony appraisals? Kickbacks? That sounds pretty much like the business model for the mortgage brokerage industry in California during the bubble. Maybe the real complaint is that the mob was muscling in on their territory.

    Or consider the report in Monday's Wall Street Journal that the Troubled Asset Relief Program oversight panel is investigating complaints that the banks that received money from the TARP are raising interest rates and imposing new fees on customers.{E3A45585-E746-4A07-B22B-1166E0C1BFB7}
  2. Shagi


    Its good the SEALS rescued an innocent man, but they were up against a nobody. Lets see what they can do against more organised opposition like in North Korea or Iran or Russia
  3. skylr33


    LOL!!! It would end up the same. There would only be a bunch of gooks, ragheads, and commies dead!!!!! That would be absolutely wonderful!!!!:D
  4. AK100


    I'm not suggesting that the SEALS aren't a solid fighting force.

    Just wondering if they're as good as Hollywood makes out.........

  5. Think about that shot they made, executed at the exact same time, and shooting from a moving platform, at a target on another moving platform, oscillating at a different rate, pretty amazing shot IMO.
  6. SEALs are even better than Hollywood portrays them. They are the ultimate fighting machine. Iran? Please.
  7. Eddiefl


    Head shots with low visiblity. Enough said...

    Most on here cant pee in the toilet without getting some on the seat,, c'mon, lets stick to things we know about..

  8. Shagi


    So who is better - US Seals or British SAS?