More Bank Nonsense
This post is by Zane.
Why did the banks get bailed out, to a tune of 4.X Trillion dollars? Simple. The bailout bill was pushed through via fear, threats, and good old fashioned bribes.
Bribes
Martial Law Threat
Don’t think that the banks are reinvesting the money into the USA. How about your tax dollars from the bailout going to China?
Top this off with government involvement in the stock market. Personally, I think the DOW is not done dropping. We have a long way to go. I’m thinking sub 6000 by year end, and lower next year. I think the only reason it hasn’t dropped more is that the banks are using the 4 trillion bucks we gave them to prop the market up. It is the plunge protection team in action.
Every now and again, someone gets the information out to the masses. Here are two videos I like. Notice how the other TV fools try to label these guys as whackos.
Here is another CNBC goodie with lots of Plunge Protection Team references.
I like the last remark in the video. He summed it up just before they cut him off.
What about Ford and GM? I think they are done! I see them going to zero. I don’t see them getting bought out. I do think in the end that Congress will give them our hard earned money, but it will only postpone the inevitable. I predict failure of these American icons and then other companies will buy their assets as they are liquidated. Another automaker (like Toyota) would be stupid to purchase either of these companies and get stuck with their massive liabilities to both pensioners and creditors. Better for them to wait for commplete failure and purchase assets and avoid the liabilities all together. 