**** I think I figured out this Geithner plan?? I’ll summarize it as I see it.
Its the biggest wealth transfer to ever occur EVER !!! The govt (taxpayer) is going to buy (overpay) these toxic assets so that the banks can remove the liabilities from their books and become solvent again. So, the people (banks) that created these toxic assets get paid full price for them. Most of these toxic assets are work zilch and the govt (Fed Reserve) loses its investment(taxpayer money.) The amount of taxpayer money Obama and Geithner are about to spend (blow) will make AIG bonuses seem like chump change. Does anybody here even care what the heck is about to happen. Liberals and Obama lovers are bantering and name calling over the AIG bonuses while their fearless leader(The Messiah) is about to reward the criminals with our tax dollars.
The Feds put up 95% of the money and
Private parties like hedge funds and Goldman Sachs put up 5%
To buy these garbage assets
It is a Federal buyout with a fig leaf of private sector participation
This is absurd and puts the taxpayer on the hook for more bailouts
A lot of us care what the heck is about to happen UgLA. It is happening already. Notice how no one is talking about the Government’s Toxic Assets, the unfunded liability for entitlements that are about to roll through the Demographics? Retirement, for anyone born between 1946 and 1966, with the biggest part of that Tsunami around 1957, has been canceled. And on a MORE somber note, lives are at stake, and more than a few Living Souls. Americans are expanding a Toxic Social Institution devoted completely to self-maintenance, and things are going to get a lot worse before enough people shake off their unconscious states of Suggestion and wake up. It’s morning in America, and some are still drinking, others are hungover and a bunch are pulling the covers back over their heads and rolling over.