** Must see ** How the banks will ditch us again under Geithner"s new plan

To summarize... basically this plan lets the banks dump their losses onto the fed and the tax payer..

The "private investor" in this plan ends up being a bank who can then set the price they buy back their own "toxic assets" for with the help of the fed paying for 86% of it and the treasury another 7%...

So they get to re-price their bad assets then buy them back from themselves with tax payer money.. when they are finally valued the loss will be something like 70% to the tax payer and worse a PROFIT for the banks...

It's unbelievable..

Mod Edit: Removed all caps title.

[edit on 25-3-2009 by Gemwolf]

Great post! The little snakes think they can sell themselves the toxic assets at inflated values and pocket all the artifical price inflation back into their pockets from the taxpayers. Again they are trying steal the money they lost by stealing it from everyone instead of investors.

Forget investor fraud let's try some tax fraud since people will never figure it out and hope Jay Rockefeller can ban the internet so nobody can find out our hairbrained schemes!

Just ffwd to my email list and representative.