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Suckered Again: "Treasury Can't Influence How Banks Use Cash Infusion"

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Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 02:02 AM
Original message
Suckered Again: "Treasury Can't Influence How Banks Use Cash Infusion"
Wednesday, October 15, 2008

Per Bloomberg, Treasury operatives have admitted, despite Henry Paulson's protestations to the contrary, that the government can only hope for the best in how the nine banks given a collective $125 billion cash infusion early in the week make use of the loot...


http://www.nakedcapitalism.com/



I encourage folks to talk to their friends & neighbors, call their legislators, & start raising hell generally.
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Cronus Protagonist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 02:20 AM
Response to Original message
1. Gosh, quelle surprise?
I was battered by a bunch of pro-bailout people on here, (who have suddenly run out of things to say now that they got what they literally BEGGED for) when I pointed out that the whole thing is most likely a sham at best and a massive theft at worst.
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Hannah Bell Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 02:46 AM
Response to Reply #1
3. they're noticeably absent on threads such as this one, aren't they?
and the ones where it turns out execs got big bonuses & were explicitly told by goldman's sidekick their $$$$ wouldn't be endangered.

greenspan, paulson, & everyone like them should be in jail; instead, they get to make pronouncements on TV & are put in charge of raiding the Treasury.
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ixion Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 06:15 AM
Response to Reply #1
5. yep, me too
and it's remarkable how silent these vitriolic posters have become since they got what they were begging for: a gargantuan handout to the folks who caused this mess.

:grr: :argh:
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Cronus Protagonist Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 01:47 PM
Response to Reply #5
7. Which is why I wonder how many of them were actually paid shills
And some of the most vitriolic had large post counts too!
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MadHound Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 06:23 AM
Response to Reply #1
6. Oh, don't worry, they'll come back
As soon as there's another bill in the works to bail out Wall St. Funny thing, that timing of theirs, almost makes you wonder.
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Wapsie B Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 02:24 AM
Response to Original message
2. Don't worry.
Some of it is most likely in the Cayman Islands as we speak, funding some bank exec's retirement.
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Irish Girl Donating Member (265 posts) Send PM | Profile | Ignore Wed Oct-15-08 04:02 AM
Response to Original message
4. LOL they're going to save that money to buy up our assets for pennies on the dollar
Paulson knew exactly what would happen and trust me, the banks will remain nicely shored up so they're in a prime spot to start buying cheap assets at our demise. America, wake up. Your enemy is WITHIN.
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mzmolly Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 02:03 PM
Response to Original message
8. Seems silly the Bushies would want McCain to lose the election?
The economic "scandal" is making that a likely possibility.
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StClone Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 06:26 PM
Response to Original message
9. A guy pays himself $100 Million
Is it a surprise he'll take a few million more because times are tough? Ayn Rand would think highly of these "Superior People" enabled by Greenspand's policies and W's complicity if not ignorance.
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fascisthunter Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 06:31 PM
Response to Original message
10. Don't Worry... Nancy Pelosi and Reid will Do Something about this!
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Leopolds Ghost Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 06:33 PM
Response to Reply #10
12. They need a filibuster proof majority first... the Republicans are just too tenacious.
:p
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Leopolds Ghost Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 06:31 PM
Response to Original message
11. Wells Fargo just announced they would use their 20 billion share to buy Wachovia
Which they were already planning on doing (and the federal government brought down Wachovis deliberately by calling them out on leveraged assets that all these other banks are also explosed to, because the new strategy is to forcibly consolidate of the banking industry, according to WaPo. So when Bernanke says he is concerned about concentration of capital, well... why would he be concerned about his own policy?)
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Swamp Rat Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-15-08 06:35 PM
Response to Original message
13. gosh! what a surprise!
not
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mhatrw Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-16-08 02:38 PM
Response to Original message
14. What a surprise!
:eyes:
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dkofos Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Oct-16-08 02:40 PM
Response to Original message
15. I'm so glad they passed the BAILOUT.
Edited on Thu Oct-16-08 02:41 PM by dkofos
:sarcasm:
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