Thursday, Apr 09, 2009
Obama covering up for the bad guys and supporting zomble banks
Bloomberg: Obama Stakes His Fortunes on Failed Banksters
It looks like it will all end in tears.
Why doesn’t the Obama administration force insolvent banks and insurance companies to come clean about their losses first? It’s the “why” that’s so vexing. The who, what, when, and how are mere details, by comparison.
More than anyone else’s, it should be in Obama’s political self-interest to accelerate the worst of the financial crisis and get as much of the inevitable pain behind us as quickly as possible. Every day he waits is one less day he will have between the time we hit rock bottom and the next election. And yet, Obama and his minions are doing all they can to delay the reckoning, which only will make it worse.
Posted by penbat1 @ 10:50 AM (440 views) Add Comment
4 Comments
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1. crunchy said...
Posted by penbat1
"Obama and his minions are doing all they can to delay the reckoning, which only will make it worse."
Only following orders from the Masters who financed him through the election. How long will it take for people to finally GET IT!
2. icarus said...
...and here's a clue as to who those masters are:
Yesterday Mr Obama announced his plan to encourage private investors to absorb the excess capacity of the auto industry. It is a private-public partnership to tap funding to create a demand for cars that US car manufacturers are unable to sell at a price that covers their costs and gives them a satisfactory return. Mr Obama called the excess cars "legacy assets" The plan involves hedge funds buying up a million cars and selling them later when the economy recovers. The price they will pay for the cars is to be somewhere between the list price and the price the cars would fetch now in the market place, and it will be a price the auto industry deems satisfactory. The government is to put up $13 for every $1 the private sector puts into the fund to buy the cars. If the cars eventually sell for less than the fund paid for them the private sector's exposure will be relatively small, but as an incentive for the private sector to participate the potential profits from selling the cars for more than the fund paid for them will be "attractive".
Nope. He didn't say that because his masters aren't from Detroit.
3. 51ck-6-51x said...
Two sides of the same coin
Two management teams bidding for control of Slavery Incorporated
The truth is out there in front of you, but they lay it out in a buffet of lies and I ain't gonna take a bite out of it.
4. icarus said...
BTW - When AIG sold CDS insurance and couldn't pay up when these bets went down many of the AIG spivs were retained because only they knew how to wind down the division that made these bad bets. They were paid retention bonuses, many receiving $1 million or more. About 50 of them took the bonuses - then split anyway. Then Obama's men said that these were legal contracts that couldn't be violated.