Stephen, "the current government" is just as stupid as "the Bush government".
They insist on throwing our money down the rat hole of insolvent banks -- by the way, the Level 3 toxic derivatives (IRS and CDS) with a notional value of $600 trillion exceed the combined balance sheets of all the countries of the WORLD.
The only thing the bailout is doing is temporarily protecting sovereign wealth funds (i.e. Saudi Arabia, China, etc.) and hedge funds who are the counter-parties to these bad trades. THEY are the ones being bailed out. "We the People" are going to get stuck with the bill.
The only way to solve this is immediate bankruptcy, with protection for depositors.
"The current government" at the rate they are going will make $78 TRILLION simply disappear. Get over it and start paying attention.
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Re: The government...
Stephen, "the current government" is just as stupid as "the Bush government".
They insist on throwing our money down the rat hole of insolvent banks -- by the way, the Level 3 toxic derivatives (IRS and CDS) with a notional value of $600 trillion exceed the combined balance sheets of all the countries of the WORLD.
The only thing the bailout is doing is temporarily protecting sovereign wealth funds (i.e. Saudi Arabia, China, etc.) and hedge funds who are the counter-parties to these bad trades. THEY are the ones being bailed out. "We the People" are going to get stuck with the bill.
The only way to solve this is immediate bankruptcy, with protection for depositors.
"The current government" at the rate they are going will make $78 TRILLION simply disappear. Get over it and start paying attention.