posted on Feb, 11 2009 @ 10:15 AM
Originally posted by marg6043
reply to post by cpdaman
I got the feeling that our treasury secretary has not clue how the economy is going to be fix.
That was my take from his press conference and his congress hiring.
I got the feeling they ARE NOT DUMB
they have two problems
1. the sheep are trying to wake up
2. the financial elite have only a matter of time to get their bailouts....yet they have to KEEP IT ON THE DOWN low.
So Geithner had to be PURPOSEFULLY obscure when describing the details of the PLAN.......and yes i do believe there are more to be worked out but the
bottome line IMO will be
THEY ARE TRYING TO TAPDANCE around what will be a HUGE subsidy by the Sheep/Joe 6 pack/ Chump taxpayer
does anyone else not see this!
As an aside the stock market went down because geithner had to be obscure about the details because he has to walk a tight rope appeasing the public
but realizing the only way THIS public private plan will work is if they FLEECE the taxpayers without them initially understanding how they will get
fleeced and the amount of risk that is being taken on by gov't thru the use of leverage. (the sTk mkt going down yesterday on uncertainty was an
acceptable risk in order to do this)
THE banks aren't going to participate in price discovery of there assets unless they getting a heck of a deal (IMO) ........and private investors
are heard to be LINING UP for this (and they wouldn't be doing this unless there losses are minimized ...essentially covered) ........so put 2 and 2
together guys....... this is either a small plan that will benefit some private investors that are connected and not do much for the whole system...or
it is a massive taxpayer subsidy thru hidden leverage that could cleanse the banking system but leave the gov't /taxpayers on the hook for many many
[edit on 11-2-2009 by cpdaman]