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.