How come people are pissed off about this, but not mad about the billions spent on the Iraq war? The soldiers that have died? How can greed over power morality???
................................................. Good point.... Many people are..... This is just more current.... People voted for Bama because they just wanted anything other than Bush.... But...look at what is happening.... Some people have a short memory....for sure.... And some of us....do not.....
Off topic, but did anyone see Colbert in Iraq last night? Boot camp skit was hilarious. That guy cracks me up.
The goal was to bring Iraqi oil revenues into the Wall Street fold in order to keep the pyramid scheme going.
I could see why our money is going to the banks and AIG. Anyone who has studied finance or a experience in economics will let you that for a giant to free fall will create a disturbance in the market that will cost much much more than what we have given them. But to disect a giant would lead to a much lesser shock.
....................................................... Very true in some respects.... What is objectionable is Geithner's position of hiding behind the idea that there was no way to pay less than 100 cents on the dollar.... This would have taken a 5 minute talk to congress.... 50 to 70 cents maybe... 100 cents....no Good point though....in that the big "what if " questions have never been clarified....
This doesn't bother me. The good news is that this is happening much sooner than I thought it would. The government was never meant to be a permanent shareholder in our companies.
Is anyone else getting the feeling that this whole green shoots rally has been about letting the banks and the smart connected money get out before we head to the real bottom. http://www.ritholtz.com/blog/2009/06/american-trucking-association-tonnage-index/ http://www.latimes.com/business/la-fi-loans9-2009jun09,0,329853.story?page=1 So the Fed bought back some $1.5-8 Trillion treasury debt(hard to know for sure but it is at least that) to bring rates down and how many refis have their been in 2009? At most 120K... out of 44M mortgages! A massive fail. Still the most unnerving chart out there: http://bp3.blogger.com/_pMscxxELHEg/RxzD0s_7EYI/AAAAAAAABB4/ljDSXZhMG3o/s1600-h/IMFresets.jpg coupled with, this is where we are right now: http://bitcast-a.v1.iad1.bitgravity.com/minyanville/assets/FCK_May2009/File/00 twoo/dlqtd.png