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They pay em off in TARP funds and now the taxpayers are holding the bag as it magically turns into nothing. Thanks boys.
"The Federal Reserve Bank of New York is halting its sales of mortgage bonds acquired in the rescue of American International Group Inc. "Given prevailing market conditions” for residential mortgage-backed securities, “we do not anticipate any sales of bonds in the near term or until such time as the New York Fed deems it will achieve value for the public," Jack Gutt, a New York Fed spokesman said in an e-mail." Uh, what prevailing market conditions: a Nasdaq which has ripped over 100 points in one week (granted on no volume and on unprecedented market manipulation but so what). Regardless, this is a huge slap in the face for the Fed, which has just proven that even in a surging market it can not unwind an amount from its book that is less than 1% of its total asset holdings without actually crashing the market. "
Barry demanded that Tim Geitner be hired to manage these programs and said the recovery was DEPENDENT on him being in charge. Why is Geitner being allowed to leave without cleaning up his mess? Barry and Tim should be put in prison for fraud.
Barry demanded that Tim Geitner be hired to manage these programs and said the recovery was DEPENDENT on him being in charge. Why is Geitner being allowed to leave without cleaning up his mess? Barry and Tim should be put in prison for fraud.
Hasn't it become obvious..the guys at the top can do what they want.
Who is going to stop them ?
Should be to the Democrats..they lauded the great investments made by Uncle Sam while their party is in power.
I'm sure it's quite "unexpected".
Really? I definitely don't remember that. I seem to remember partisan lines breaking down for a short period of time, exposing the fact that both parties are clueless to how our system actually works.
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