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Liz Peek May Not Be a TARP Wife Much Longer
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If they need a bailout, they've already failed. So, no, they are not to big to fail and cannot have any more of our money.
What would these guys do to the small business owner.....take him to court...liquidate his business......kick him out on the street........and leave him without a dime......lets use a little of their own medicine on them.........take our losses ......and auction them off to the highest bidder.........
Since the morality question has already been breeched and trampled into the dirt, we must consider the pragmatic question: How are we going to keep funding billions to pay off bad loans of financial institututions? Setting the precedent was in itself poor decision making. Continuing the practice may save the banks and break the American government. About half of the big banks are failing, contrary to the dishonest reporting. They must fail or our Republic will fail. Why? Our currency will be of the same quality as the Weimar Republic. We would follow that failure.
Be sue to give them enough for monthly bonuses and exotic junkets!
they not lendign anyway, take em over if you must but break them the heck up
just like wamu etc etc....all htis free for all money becasue of too big to fail crap.......
re instate glass stegall asap and jail former senator gramm
The next headline will read bigger bank agrees to buy CIT for pennies on the dollar if they get bail out money. DUH. Why do you think the government ran the mafia out of this country. They didn't like the competition.
TOO BR0KE to stay in ONE P1ECE!
TOO BIG to stay in ONE P1ECE!
Since they are tooooo big to fail, let's hold off on helping them and see if this statement is true or not.
What's another bailout amongst friends?
It is interesting "a debate is swirling in Washington" regarding whether CIT Group is too big to fail, while no debate appears to be swirling about whether state governments are too big to fail.
I'm not saying state government should or should not be bailed out, I just find it interesting this "too big to fail" issue only seems to come up when the entity in question is a bank.
maybe they should hire bush and paulson.they know how to handle money.lol
Our leadership is force-feeding the wrong end of the animal. Money is the 'fertilizer' of our economy...piling it up in the marble vaults of our biggest banks does none of us any good. That money needs to be spread out on the ground, down here, where 'real crops' grow. Put it straight into the hands of those who build, and teach, and heal, and repair. Give it to those who serve, and create, & protect...and pretty soon we'll start growing into the country we used to dream of being.
Glass-Steigel them!
Divide them up and get rid of the JUNK at the expense of the Stakeholders!
Bye Bye TOO-BIG-TO-FAIL!
With $32 TRILLION of Toxic Derivatives Hidden "Off-BALANCE-SHEET" why save them or any of these WS MAMMOTHS who have OUT-LIVED their TIME! Only We11s has a tolerable amount of such DEBT!
When did it sound like a good idea to have "OFF-BALANCE-SHEET" accounting? Wasn"t this an invention by the ENR0N Accountants Arthur Anderson to hide the corrupt practices of ENR0N? Why is the ENR0N L00PHOLE still legal? AND Why is Wall Street still using it to hide their FAKE ACCONTING?
A Federal Agency in our Government, the Office of the Comptroller of the Currency, OCC, issues a quarterly Report that has the following info:
1 JPM0RGAN C $81 TRILLION in Toxic Derivatives
2 B 0F AM $78 TRILLION
3 G0LDMAN SA $48 TRILLION
4 M0RGAN STA $39 TRILLION
5 C1T1GROUP $32 TRILLION
6 WE11S F@RG $5 TRILLION
http://www.occ.gov/ftp/release/2009-72a.pdf
It is on page 23!
Return Democracy to our Congress and our Country for the first time since Jackson!
Wilbur Ross, one of the super-rich Timmy picked for his PPIP program, in a RARE MOMENT of FULL HONESTY on CNBC last Monday, said,
"This is the largest TRANSFER of DEBT from the PRIVATE Banks to the Government in History and it will take MANY YEARS."
So are they going to gradually weigh down Americans with 50 years of GDP Growth ($700 Trillion) that will take 200 years to work OFF?
Close the Zombie BANKS, FD1C and C0NGRESS!
Wilbur Ross is also implying it is the Greatest transfer of wealth from the American People/Government to Wall Street over MANY YEARS as a corollary!
Thanks Wilbur for the RARE MOMENT of FULL HONESTY from Wall Street!
CNBC has the video interview with Maria!
u da man mr taylor, glass stegall them, break em up
into lil pieces
too big to fail, sounds likethat should only be a shareholder issue to me..
teh govt could set up a facility to take over the loan servicing etc, and maybe we could get some more of our darn money back..............
They should change their name to Goldman Sachs if they need money.
I will be very frank: "these organizations are eyeballs-deep in financial crime." Their business model cannot succeed, and furthermore it facilitates crime. This crime has consumed them from within, as crime always does when it is unchecked.
This company, and all companies like it, must be dismantled ... it cannot be "insurance, banking and finance at the same time." Its dealings must be thoroughly reviewed, and many criminal charges must be filed as a consequence thereof.
We do not have a choice in this matter; nor should we entertain any. We should not throw billions or trillions of dollars of public money into a criminal throat. We should not "look the other way" when we plainly know that trillions of dollars' worth of so-called "derivative securities" were sold and known to be an outright and complete fraud. We should not accept usury. We should not permit transaction accounting that is designed to maximize fees-and-penalties, this being a direct breach of fiduciary duty to the account-holders. ALL of these things are CRIMES, and ladies and gentlemen, all 306 million of us (and that's just in the USA) are the PLAINTIFFS.
When you look at "the economic downturn," think ... "actual damages." Think ... "an intentional tort." Think ... "this is the direct consequence of myriad illegal acts." Think ... "this is what happens when you see crime (and high crime) and do not swiftly and decisively stop it."
No. Not in this country.
No.
Yes, agree 100%! I'm a fan.
So many crooks and so little time.
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First Posted: 07-14-09 01:11 PM | Updated: 07-14-09 01:14 PM