I picked up this article at a blog called Curiosity Cat, and as I read along I could understand the goals and methods involved in U.S. Treasury Secretary Timothy Geithner's plan to ease the toxic debt situation that is supposedly holding up the flow of credit in the U.S., and was seeing some logic to it. Then I read a paragraph toward the end that I thought speaks volumes about what is really wrong in America. See if you can pick it out. I did give you a hint. Right?
"http://www.nytimes.com/2009/03/21/business/21bank.html?hp"
Subscribe to:
Post Comments (Atom)
I think the whole idea is nothing more than a giant ponzi scheme. I don't like it. I don't like the fact that a small select handful of people are going to get Very rich at the taxpayers expense.
ReplyDeleteIt's almost the same scheme Paulson proposed.
They are packaging toxic debt and selling it as new. When the greed takes over, and it will, it could come down like a ton of rocks but not on the firms.
Was I right?
Nope, try again...lol
ReplyDeleteI'll guess later, as it requires detailed thinking, which is not one of my smart spots.
ReplyDeleteNow, assumptions but then the fun starts . . .
------
Two women were playing golf. One teed off and watched in horror as her ball headed directly toward a foursome of men playing the next hole.
The ball hit one of the men. He immediately clasped his hands together at his groin, fell to the ground and proceeded to roll around in agony.
The woman rushed down to the man, and immediately began to apologize.
'Please allow me to help. I'm a Physical Therapist and I know I could relieve your pain if you'd allow me," she said.
'Oh no, I'll be all right. I'll be fine in a few minutes,' the man replied.
He was in obvious agony, lying in the fetal position, still clasping his hands together at his groin. At her persistence, however, he finally allowed her to help.
She gently took his hands away and laid them to the side, loosened his pants and put her hands inside. She then administered a very tender and artful massage for several minutes and then asked,
'How does that feel?' He replied,
'It feels great, but I still think my thumb's broken.'
------
'Nuffink like a good laff to start the day, wot! G'day y'all -- sunny, bright and cool here.
Out of interest, I e-mailed son and DIL Garth's latest, and most excellent post, How Not To Borrow. They are getting their own place next Jan. or Feb., and will have to choose between a townhome or SFH.
Personally, I would go for the TH -- monthly strata fee, but almost no yard maintenance, so little exterior work. One's own preference, I guess.
If I were a singleton, then I would rent an apt. -- that's all. Pack up and go away when and wherever I wanted, and no one would ever know. But that's my choice -- the older I get, the less material junk I have the better I am.
------
A clip (6:35) with George Galloway, the interviewer (from UK telly) and a Canadian JDL member saying why he should be barred from Canada.
About 5:30 in, the JDL person clearly says "we will tell (or let) the (Cdn.) govt. know", so it is obvious that zionists now run Canada -- the CPC is nothing more than a front for zionism.
http://www.youtube.com/watch?v=fAm7rfHKSyY
------
Remember Iceland's PM quit when they sank into the abyss? Now Hungary's PM is gonzo as well. Ukraine, Latvia and most of Europe is a basket-case -- seems as if most leaders are falling like nine-pins now, easy pickings.
------
The US Fed plans to increase the money supply out of fresh, crisp and cold mountain air. They may as well head to Neptune and print it there, 'coz none of it is ever going to be paid back! -- http://tinyurl.com/ccwwwe
Two kinda go together. -- http://tinyurl.com/d9s6b3 and http://tinyurl.com/d9gll8
What's wrong in America? My guess:
ReplyDelete". . . Big Subsidies for Investors . . . the Treasury Department’s biggest obstacle may be the current political environment in Washington, where Democratic lawmakers are furious about the pay packages and bonuses . . ."
There are no free lunches, hence no one should pay for subsidies of any kind. Everyone on the same level playing field.
Thinking hurts the creative white space a'twixt my ears. Please don't ask me to think anymore!
------
Dee said: ". . . I'm not thrilled about all the money that's been printed."
Two links: First says the US$ had it's worst weekly decline since 1985 (why?); second says the Chinese may be up to something (what?).
Combined with the links I posted earlier today -- Zimbabwe dumping the US$ and switching to the SA Rand -- leads one to ponder over where the heck we're all going, esp. with printing presses and computers running flat out to inflate everything beyond comprehension.
Ultimately, it leads to in-, then hyperinflation when paper money becomes worthless, followed by WW3. Same pattern as 1929 on.
Could be the NWO's one-world curency is gaining fashion? -- http://tinyurl.com/c7svuq and http://tinyurl.com/dbqbw9
------
Talk about Sioux City! Or is that Sue City? Only the sharks (lawyers) get rich. -- http://tinyurl.com/dakxl6
"Washington Mutual, the bankrupt, seized and 'under investigation' financial institution which saw some operations forcibly sold off to JPMorgan Chase in 2008, is suing the agency that guarantees Americans' deposits, and that agency is running low on funds."
I see the link doesn't work directly now, as it's calling for a login and password so I will post the small excerpt that I saved describing the answer to the riddle. You can still read the article if you register for the site. That article is actually a good lead in to the next one I'm going to post, so it would be worth the time.
ReplyDelete"Many investment executives said they were worried that participating in any bailout program would expose them to political wrath and potentially steep new restrictions on their own pay."
Since posting that, I have discovered a most extraordinary article that is the most comprehensive I have found yet. It talks directly about who is responsible in the banking and investment world and among the politicos for what has happened to the worlds economies. You know all those conspiracy theories that are floating around out there? Well, this article may just lend some cement to the foundation of some of them. I'll post a link later.
Now this is getting silly. The link works again. Now that it does, I will explain a little further my thoughts on what's wrong in America.
ReplyDeleteIf you read the article, the most outstanding portion in my view is the concern of the investment house/bankers/money changers for their own personal bonuses/incomes/fortunes. It's all about their pay, translates to "it's all about me". Everything else stems from there.
My next offering will illustrate this much farther. Think of it as following the Rolling Stone..