Do you mind being stolen from?
I have written several diaries about how we are being ripped off by the ObamaRahma Admin and Congress regarding the ‘financial system’.
Somehow, such theft doesn’t seem to resonate with others as much as healthcare reform(which isn’t),which, while necessary and important, certainly is not the only issue that affects most citizens.
Those diaries are:
Now comes along more news of how we are being screwed and the lack of
outrage and concern by citizens is only serving to allow the thievery
Specifically, banks that received the biggest taxpayer bailouts are seeking to reap trading profits from securities rescued by the government. These are the same ‘toxic assets’ TARP was supposed to address.
So now that the government has said there are no limits to what Freddie and Fannie MAC may receive from taxpayers, "Eric Petroff, director of research at Wurts & Associates, a Seattle-based firm that advises institutions on $30 billion in investments, is quoted as saying "it’s no surprise that banks added to their holdings following the unveiling of PPIP."(full article here)
“Any time the government says, ‘We’re going to buy something in the securities market,’ they’re putting out a sign that says, ‘Free money, come and get it’,” he said."
So the banks are,again,screwing the public and Geithner’s PPIP is failing(which doesn’t surprise me at all).
If you think 2009 was a rough year, just wait; it will get worse.
Unless citizens start to REALLY scream for Glass-Steagal to be re-implemented.