I can’t believe it $7.7 trillion in taxpayer money half of the entire economic output of the nation to be given in loans to ” save us” from the fraudulent crooks on Wall Street and in the financial and banking community. See;http://bloomberg.com/apps/news?pid=20601109&sid=arEE1iClqDrk&refer=home
I have previously posted on this financial crisis. I strongly oppose the financial bailouts primarliy because its taxpayer monies for private corporations, ( taxes are for the health safety and welfare of it’s citizens)
Secondly,no benefits or substantive safety measures and controls are dove tailed to the bailouts. Thirdly this exact infusion of governmental loans failed in Japan( and in fact made there recession last over a decade), see http://www.nytimes.com/2008/10/10/world/asia/10japan.html?partner=permalink&exprod=permalink and see; http://www.businessworld.in/index.php/Columns/Recession-May-Be-Deeper.html
Lastly the non elected governmental Treasury officials Caeser Paulson under Bush and now Caesar Rubin under Obama have strong financial and economic ties to the bailed out firms. see http://biz.yahoo.com/t/73/4142.html ( Rubin Selling Stock ) They are both part of Goldman Sachs which as far as I’m concenred is a greedy greedy firm. To see how Goldman and Citibank behave read today’s Wall Street Journal, they are all predator’s from the jurasic era. See: http://online.wsj.com/article/SB122748970896452051.html
Robert Rubin, is the defacto economic guru for Obama, see http://www.iht.com/articles/2008/11/24/america/24rubin.php is just like Hank Paulson for Bush both are Goldman Sachs alumni ” rulers of the world”. They are all part of the same brain trust that put us in this credit default swap, derivative maelstrom. Here is there plan http://www.iht.com/bin/3-col.php?id=18089406
Don’t you Recall how Goldman et al constantly threaten to leave New York City unless they get ” tax incentives and abatement’s?
These same bastards have New York and New Jersey fighting over them to locate in their respective states, and in the process, they deplete property taxes. see http://www.quantnet.org/forum/showthread.php?t=1424
Today, we learn Citbank’s http://www.washingtonpost.com/wp-dyn/content/article/2008/11/24/AR2008112401118.html?nav=igoogle tin cup will be filled to the brim thanks to non elected officials who have cozy relationships to the very firms they are bailing out. The New York Times today has an essay why didn’t anyone see the red flags.. See http://www.nytimes.com/2008/11/23/business/23citi.html?partner=permalink&exprod=permalink
Sadly, one of the Board of Directors of Citicorp is Robert Rubin, see http://en.wikipedia.org/wiki/Robert_Rubin and now President Elect Obama is turning to this man as the economic guru. I mean are you kidding me he was at Harvard, Goldman and on Citicorps board of directors and he missed the red flags and drove Citicorp off the Cliff in gods name are they being picked and why are they not of the ethical fortitude to admit to conflicts of interest and as such rec-using themselves, and if they don’t why is Congress not intervening in this madness.
I mean can’t we all see it these guys and gals are all from the same country club oh yes their only difference they drive blue and red golf carts!
And of Course The Pet Shops Boys Knew This All along!