Another bailout..........another fleece of the taxpayers

[fisheerman]

Looks like the banks are trying to "front run" the Geithner bank bailout plan and buy MBS on the open market to flip to the taxpayers for a profit.

Dismantle both these pigs and lets get on with the recovery already.......

When is this S$%T going to end?

Yahoo Link

 

[jackace]

Yeah I saw this on Yahoo finance. What a bunch of crap.

 

[LTC8K6]

You see weakness, you try to exploit...

 

[bamacre]

Damn robber barons abusing the free market!!

 

[Slew Foot]

Bush LIED, TRILLIONS DIED!!!!!

Where were you when Bush was running up deficits?

At least we're spending the money inside the country

The bailout will prove to be a boon to the world

 

[Fern]

Several things:

1. Yeah, this what the Treasury wanted; however it doesn't seem to be part of "The Plan" because I don't hear about any gov backed non-recourse loans etc.

2. Yes, This is a (potential) problem many forsaw

3. Because so many of us forsaw this, and the first toxic asset plane had limits in place to prevent this sort of 'gaming' of the system I'd be highly surprised (and really angry) if geithner didn't install these measures in his recent plan. The 'measures' I'm referring to limit 'qualifying' MBS to those purchased no later than last year.

4. Reminds me I need to get the details and read about Geithner's plan.

Fern

 

[LTC8K6]

Where were you when Bush was running up deficits?

At least we're spending the money inside the country

Sure Bush ran up deficits, but nothing like these. Even the good predictions look horrendous for the future.

A lot of the bailout funds went overseas.

 

[SAWYER]

http://i29.photobucket.com/alb...s/obama-getdamoney.gif

 

[sandorski]

Another reason why temporary Nationalization was/is a good idea.

 

[StageLeft]

It's neat to see it happen. Karl Denninger, when he heard about this, immediately posted on his blog that Geithner's plan was ok IF EXACTLY THIS kind of thing didn't happen. And now it is, you gotta laugh.

 

[BassBomb]

Let them fall... no bailouts IMO

 

[bamacre]

Originally posted by: Fern
4. Reminds I need to get the details and read about Geithner's plan.

Interesting...
http://www.youtube.com/watch?v=n-arbfLTCtI

 

[BoberFett]

Originally posted by: bamacre
Damn robber barons abusing the free market!!

Originally posted by: Slew Foot
Bush LIED, TRILLIONS DIED!!!!!

Where were you when Bush was running up deficits?

At least we're spending the money inside the country

The bailout will prove to be a boon to the world

LMAO :laugh: