reply to post by Jkd Up
being told that the bailout/TARP was bad policy by many, many, many posters in forums, by citizen economists, by dozens of finance minded
pundits all over the web (there were very few murmers from MSM)
the Senate refashioned a replacement bill to replace the thoroughly defeated original 'bailout bill' and some weeks later bothe the Senate then the
House gave the Fed/Treasury their ransome of $700billion plus the extra ~$180bn of Senate pork~
And, all those represenatives with well paid staff, voted first---then gave deepe thought to the circumstance--- then were all fundamentally
returned to Office on Election Day...
I say, all these joe&Jane 6packs....actually Deserve the TARP fallout they allowed to happen...
conclusion:
jobs reductions far higher than seen or expected in the future,
The "Level 3 assets", hidden by the banks & brokerages, Insurance conglommerates...are still increasing- are still opaque - are going to require
another cash infusion of $3trillion in the next year for sure...
and it will always be the same song & dance from whomever is the Treas Secretary or in the Fed... as they tell us that victory is jst around the
corner.
Meantime the elites stash the bonuses, buy the survival systems they require to ride out the 'Storm'...and grin as they survive the crises to reman
the power structure heirarchy the Fed/Treasury is overtly providing withcapital & liquidity during this economic entropy period.
[edit on 11-12-2008 by St Udio]
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