The Quiet Coup - an amazing story about the real reason why US Govt. Bailed out AIG

That's a great article.

I don't say that because it comports with my views and biases, but because I believe there's much factual accuracy in the claims made, and the claims made are incredible.
 
Simon Johnson is an interesting fellow. While I do not share his views in many aspects, I enjoyed his recent interview with Bill Moyers...

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His blog is a decent read too.
 
Look at how differently the Current administration treats bankers and GM execs...... every single member of Obama's cabinet is from Wall Street... it's the most Wall Street centric administration ever put together.. we are all going nowhere fast...
 
I love this article it states everything I've been telling my coworkers. Right now I'm trying to buy a house in San Diego but all the houses are still over priced. Even the foreclose houses that need like 30k in work are still over 300k. The banks reject offers that are lower or just wait till they get a better offer. Alot of banks just stopped posting signs and are waiting for a better time to sell. The banks are capable of doing this because we the taxpayers insure that their reserves are met instead of getting rid of assets like houses to raise money the just tapped the tax payer. The sooner people realize this the better. Were getting screwed twice once by giving them money and two when we try to get a loan with a price that is too high.
 
the article says the bailouts are purposely designed so that they're too complex for most americans to see that they're bailouts.

unfortunately, most americans won't understand this article either. the style of writing is too "academic" and verbose.
 
Quote from taipan77:

I love this article it states everything I've been telling my coworkers. Right now I'm trying to buy a house in San Diego but all the houses are still over priced. Even the foreclose houses that need like 30k in work are still over 300k. The banks reject offers that are lower or just wait till they get a better offer. Alot of banks just stopped posting signs and are waiting for a better time to sell. The banks are capable of doing this because we the taxpayers insure that their reserves are met instead of getting rid of assets like houses to raise money the just tapped the tax payer. The sooner people realize this the better. Were getting screwed twice once by giving them money and two when we try to get a loan with a price that is too high.
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The banks are helpless without our deposits. It's from our deposits that they profit. Is that not a slap in the face or what?

The banks would collapse with out us. They need us more then we need them. They take our money, then charge us to loan it back to us.
 
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