Bizzarro Banking Comes To America

American Scofflaw
The U.S. government is set to buy preferred equity stakes in nine top financial institutions. The supposed justification for pumping money into nine top "healthy banks", according to WSJ: "The move is designed to remove any stigma that might come with a government investment."

Billions to remove stigma? This is like giving Warren Buffett, Bill Gates and Donald Trump super sized welfare checks, so that the poor and down trodden don't feel a stigma cashing their own welfare checks.

Supposedly, some of the nine banks are not happy with the move but agreed under pressure from the government. We'll see about that after the terms of the "investments" are announced.

The understatement of the day comes from House of Representatives Majority Leader Steny Hoyer, this "As with the other programs, the equity purchase program will be voluntary and designed with attractive terms to encourage participation from healthy institutions."

Say what?

A bailout designed with attractive terms for HEALTHY institutons? WTF?."