Comments on: TARP – ‘Troubled ASSET RELIEF Program’? Are Banks the ‘Troubled Asset’?

By: Where'd the bailout money go? Shhhh, it's a secret - Political Wrinkles

Where'd the bailout money go? Shhhh, it's a secret - Political Wrinkles — Tue, 23 Dec 2008 18:33:50 +0000

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By: Art Vandeley

Art Vandeley — Sun, 02 Nov 2008 07:47:56 +0000

David – our fellow citizens are oblivious they are being robbed blind. Rock of Love and American Idol keep them passively entertained and outraged (“Did you hear what Simon said to that poor girl?”). It’s a shame so few want to stretch their minds about what’s going on since it’s a potential major turning point in history.

I think Ellen Brown’s Web of Debt should be required reading for anyone voting this year. Lyndon LaRouche’s economic reports also a must-read. That would give every American an idea as to what’s going on and what the remedies are.

The fake-bailout is treasonous on Paulson’s part. This was never meant to stimulate the flow of credit to the citizens. Recapitalization of banks, increase deposit base to offset all those future losses in derivatives that are to come (or already triggering off balance sheet?).

If Mr. M’s theory holds true about the real TARP’s, then maybe that will wake the people up and create outrage. If not, leave it to Simon and Bret Michaels to incite the revolt.

By: David

David — Sat, 01 Nov 2008 18:41:42 +0000

Agreed. I am not sure WHAT it will take for the American Taxpayers to wake up to the fact that they and their children are being ROBBED BLIND.

The media is too distracted by the elections to even care, and would never report the truth on it anyway, since one of their big functions is to keep the masses calm.

Check out Denninger’s latest article on the Market Ticker, linked from ML-Implode as a website. He always has the latest scoop.

By: Brant Gaede

Brant Gaede — Fri, 31 Oct 2008 20:05:21 +0000

Cramer today in a video on TheStreet.com said credit card companies like American Express and Capitol One aren’t in trouble unless unemployment goes above 10%. I’m certainly willing to wait for that before putting in a short.

By: Brant Gaede

Brant Gaede — Fri, 31 Oct 2008 20:01:21 +0000

In the previous post I should have said “but they are NOT borrowing, by and large.”

By: Brant Gaede

Brant Gaede — Fri, 31 Oct 2008 20:00:21 +0000

Big banks are making money available to the credit-worthy, but are they borrowing. I just took 13gs from Citi at an effective 4% for 14 mos. No collateral. Chase wants me to do a 50g HELOC. Ha. No way, Jose. In 14 mos I’ll write Citi a check; I’m not paying 14% thereafter. I was temporarily carrying $3900 on the credit card for several months for a special reason. Citi’s computers must have figured they could trap me in debt at a higher effective rate. I’ve seen this happen with Chase, too. I simply phoned Citi and wiped out the debt then used their check to deposit 13gs into my bank account. I have a particular use for the money. The fact that it is borrowed means I’ll be more conservative with it than if I just used my own funds, for I don’t want to pay back Citi with those funds. That I hate debt will focus my mind even more. It’s all about educating myself in speculation. You see ALL investing these days is speculation. Those that don’t believe it have lost 30-70% or more in mutual funds. We’ve got ten years to go, at least, in this Bear Market. It has to be traded.

By: j

Fri, 31 Oct 2008 19:29:21 +0000

Barbedwiresmile: It’s all about “Obama is the savior!”…according to cbs, nbc and abc. Sarcasm is great.

By: peterb

peterb — Fri, 31 Oct 2008 18:32:46 +0000

2009 is shaping up to be a catastrophic year. Auto, credit card, homes…all these loans are lining up to crash big time. Lay-offs across the board. Govt going bankrupt at state and local levels. This is looking all-time!!

By: od

od — Fri, 31 Oct 2008 18:01:15 +0000

Time to rob some banks.

I can totally see the popularity in crime rising again, like it did in the 30′s. Who will be the next Bonnie and Clyde? Babyface? …

By: Stu

Stu — Fri, 31 Oct 2008 17:46:51 +0000

It is happening albeit slowly. Here is Barney Frank from today:

“I am deeply disappointed that a number of financial institutions are distorting the legislation that Congress passed at the president’s request to respond to the credit crisis by making funds available for increased lending,” Rep. Barney Frank said in a statement.

“Any use of the these funds for any purpose other than lending — for bonuses, for severance pay, for dividends, for acquisitions of other institutions, etc. — is a violation of the terms of the Act.”

Too bad for him it really doesn’t matter what he thinks. There are no rules being broken because the Tax Payer “Bail Out” came without strings attached for Paulson and Bernanke et al to do whatever they please with the Tax Payer money. There is no legal way for them to force the lenders to lend. They forced the money down the lenders throats so now it is entirely up to the lenders to do whatever they want to with the money.