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Thursday, April 23, 2009

This is How It Will Shakedown

American Scofflaw
Taxpayers are increasingly exposed to losses and the government is more vulnerable to fraud under Obama administration initiatives that have created a federal bank bailout program of "unprecedented scope," a government report finds.

n a 250-page quarterly report to Congress, the rescue program's special inspector general concludes that a private-public partnership designed to rid financial institutions of their "toxic assets" is tilted in favor of private investors and creates "potential unfairness to the taxpayer."

Imagine a guy who has a ton of credit cards, and his doctor tells him he has only 6 weeks to live. Assuming that the credit card companies don't find out and cancel his cards immediately (fat chance these days) the guy goes on a wild spree for the remaining weeks of his life, spending money like there is no tomorrow (which is the truth).

That is kind of what Wall Street looks like; a terminelaly ill patient with only weeks to live, maxing out the credit cards on one wild last party.

Guess who gets the bill after this particular patient falls over dead.

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