A new plan by Glorious Leader’s team has come to light. Since Europe won’t help us by spending more money, the administration has hatched a plan to entice private investors to buy the troubled assets that are pulling banks down into an economic abyss. Even though they have, as yet, been unsuccessful in garnering private industry support the administration feels that these new “mutual funds” will be a great investment.
The funds, the thinking goes, would buy troubled mortgage securities from banks, enabling the lenders to make the loans that are needed to rekindle the economy. Many of the loans that back these securities were made during the subprime era. If all goes well, the funds will eventually sell the investments at a profit.
But, as with any investment, there are risks. If, as some analysts suspect, the banks’ assets are worth even less than believed, the funds’ investors could suffer significant losses. Nonetheless, the administration and executives in the financial industry are pushing to establish the investment funds, in part to counter swelling hostility against the financial industry…
…Perhaps more important than the money would be the political bonus of having thousands or even millions of taxpayers — whose portfolios have nose-dived during the crisis and whose tax dollars are financing bank bailouts and stimulus packages — profit from the toxic asset plan.
Did you notice the key line here?
there are risks. If, as some analysts suspect, the banks’ assets are worth even less than believed, the funds’ investors could suffer significant losses
I know, looking at how honest and open our government has been thus far regarding the troubled assets, there is no way in HELL I would ever partner with the likes of Bawny Fwank or Corruptible Dodd. But that is just me. Welcome to WWI redux.
The revolution is at hand. Will you be a leader or a follower?
Let me get this straight…my tax dollars (and that of my grandkids) went into this bailout…now, they want me to invest my hard-earned money (after taxes) into a financial instrument (based on my bailout taxes) in order to potentially turn a profit…managed by the gov’t…on MY money in the first place? Am I missing something here?
…And on top of that, weren’t these instutions already bailed-out…BY US ?????
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