$hiti Bank

[scorpioatl]

The BAD BANK Bailout Scam

Here’s how the Fed’s latest plan will screw the taxpayers and make billions for banks like Citi, BOA, JPM et al...  (This is simplified on purpose so there's no mention of the investor pool, the FDIC's role or the 1:6 leverage, etc.)

Step 1: Citi creates a new Bad Bank subsidiary-- call it $hiti Bank.  This will be an off-

Comments

[mellowtigger]

Ugh. I've failed to read the news recently, what with other projects coming onto my radar in the last week or so. I see I haven't missed anything useful (to building a better future). Call me when it's time for the peasants to revolt, though. I do have blueberry beer and a shovel to contribute. :) I suppose I could get a torch and a pitchfork, if they're really required.

[msclwolf]

The scale of the financial bailouts across the globe leaves my head spinning. I can't help but sympathise with the likes of one of the top bosses of BMW who said something like it felt his company was being penalised because they ran a sensible business!

What if ALL manufactures in a given sector were given the same or even a percentage 'bailout' perhaps then a wider picture could be viewed if the situation and the scale of bailouts toned down with MORE responsibility being taken by those companies who appeared to have succumbed to greed and lack of business insight over the past 5 or 10 years!!