>>> "Dorene Cornwell"
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I am also having one of my periodic bouts of needing to feed witless blundering bureaucracies truly astounding mountains of paperwork over amounts of money that would vanish in nanoseconds at bailout rates and I was thinking about the vast disproportion between the paperwork required of me per dollar returned and the free handouts going to the world of banking and finance.
My basic bottom line: just exactly what outcomes are we expecting of all these handouts? "Getting the credit markets" moving" sounds really amorphous and divorced from human indicators such as better public health, improved schools, reasonable public safety, and this especially so when all the bankers are doing is turning around and giving each other more bonuses after screwing up badly enough to need handouts in the first place.
So what performance indicators SHOULD we be rewarding?
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These monopoly banks, concentrated wealth centers, are "failing" on purpose. They thought, " Hey we're 'too big to fail' ". So the Financierate ran a test with LTCM hedge fund failing and then getting bailed out by the US gov'mnt. Then they thought, " If we fail , they'll have to print up the money to keep us from failing. " So, all those "toxic assets" , which were fake money created by making loans that the creditor-lenders knew were not going to be paid back, becomes real money printed by the U.S. Treasury. Citi-group let a whole bunch others go first . Now they're jumping in. Hey the waters fine.
Like dollar hegemony and super-imperialism when a "weakness" of debtor status is used as a super-strength against other international creditor nations; so here the "weakness" of bad debts is used as an arch-strength in the biggest bank heist of all, with the banks doing the heisting.
Sherlock Holmes
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