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Bailed-Out Banks Profit on Rescued Assets

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1854wilson Jan 5, 2010 9:50 AM GMT God bless america God bless the rich
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Rob Jan 5, 2010 9:28 AM GMT Absolutely correct Strategery. Geithner & Co. know exactly what's going on. It's clear that the entire focus of the insane bailout we've paid for (yes the bill is coming people..) has been to re-inflate the bubble at least to the point where banks can return to business as usual. The financial industry clearly owns the government. I would only dis-agree on the implosion coming this year, Ponzi schemes orchestrated at this level can go on for a LONG time. The outlook however, is ominous.
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Strategery Jan 5, 2010 4:05 AM GMT These stories are a dime a dozen, banks making money by screwing taxpayers and/or customers. Geithner knows exactly what is going on--he has ties to the financial industry and is working for them, not the government (us). The Ponzi scheme will implode again this year as the bankers are just trying to make things look good in the near term so they can get a big bonus. Soon, we will go back into a recession and when the banks fail again the two options will be: nationalization or bailouts followed by a revolution.
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John Jan 5, 2010 3:37 AM GMT The U. S Government, in the form of the Securities and Exchange Commission (SEC) FORCED these banks to "mark these securities to market" in 2008. There was no market at all, so immediately those securities were deemed "worthless". That is why the banks had to raise so much capital, because the government made a great deal of their capital into a "zero" overnight. ALL of these secutities had SOME value. I think about 80% or a little more mortgage holders are still making their payments on time. I don't know about you, but if the Government told me that the $100 bill I have in my wallte is "worthless". I would not throw it in the trash, I would eventually take it to the store and see if I could buy some gas and groceries with it.
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brain Jan 5, 2010 2:57 AM GMT banks buying their own toxic assets hhhmmmm...theres been a rally on these stupid bonds again, banks swapping back and forth this bogus debt. rob paul to pay peter. the biggest crash in financial history is on the way and banks, real estate, and wall street, once again, will be at the helm. it will not surprise one bit when the american economy implodes and crumbles into tiny little pieces. sooner or later, and this is a fact, all ponzi schemes come to a close. I wish them luck.
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ali Jan 5, 2010 2:28 AM GMT Geithner is a bigger fool then he, at first, appears to be, but fits right in with the Obama administation's colection of hapless, spineless, clueless, dullards.There has been so much money left on the table by this adminiastration, ie. Citibank's tax ruling, that it is really pathetic.It seems no one is really in charge, there is no strategy, AND THE WALL STREETERS CLEARLY SENSE THIS AND ARE BACK TO BAU !!I pity to think about the economy in two years or so when we will all feel the TERRIBLE effects of this lunacy.PRAY FOR US !!!!!!!
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Jason Jan 5, 2010 2:17 AM GMT This whole game is rigged from the start. Bankers got their men heading the Treasury department and Federal Reserve shoveling taxpayers' money into their pockets. The US is neither a democracy nor a capitalist country. It is by its very definition a oligarchy or aristocracy.
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Roman Gil Jan 5, 2010 2:07 AM GMT The global and USA banks produce nothing of any value to society. In a normal society these criminals would not be bailed out by taxpayer money. They would be prosecuted for their economic wrecking anf fraudulent parasitic criminal financial rackets.It is true that in any normal country the people would not permit themselves to be exploited by a government that is owned by banks and global corporations.
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kuei Jan 5, 2010 1:06 AM GMT In any other country the people would be revolting and wanting to see these banker's and politician's heads on platters. When did americans become so weak and pathetic?
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Hugo van Randwyck Jan 4, 2010 11:08 PM GMT Taxpayers money would be better used to help well run banks, have a tax holiday. Then break the big banks into smaller ones, and let them also produce accounts using mark-to-market, and let free enterprise let them sink or swim. Washington politcians are propping up over-capacity in banks. Maybe also give well run banks a 70% rebate for installing renewable energy systems. Reward good habits, not bad habits.
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