The innocence of the banksters?
This is just too wrong. Toxic assets are OTC derivatives on real estate mortgages, credit cards, auto loans, or basically anything securitized. Whomever they quote here is either a pawn, dope, or bankster. Note how careful the interviewee is when he called a real estate loan "the makings of" and stops there.
The media is feeding the public with a con-job that would make AIG and Madoff proud. What this article would infer is that the banksters are not responsible, while in fact, this is ALL the doing of the OTC derivative manufacturers and distributor banksters. The modern name for these parasitic scoundrels is BANKSTERS.
(CBS) The Obama administration rolled out a plan Monday that could facilitate the purchase of up to $1 trillion worth of toxic assets from struggling banks in an effort to clean up their balance sheets and get them to start lending again. So what exactly are these toxic assets, which have caused such huge problems in our financial system? Every time you see foreclosure signs littering neighborhoods, you’re probably looking at the makings of a toxic asset, reports CBS News correspondent Bianca Solorzano. "Toxic assets are the ones that nobody wants to touch because they’re just considered too dangerous," Doug Rediker, of New America Foundation, told CBS News. ….. Full Article "
Giving money and power to government is like giving whiskey and car keys to teenage boys." – P.J. O’Rourke, Civil Libertarian "The democracy will cease to exist when you take away from those who are willing to work and give to those who would not." –Thomas Jefferson
- "Celebrity Apprentice:" 2 Contestants Gone – CBS News | FunkyBell
- Euro Mortgages Spain | The Mortgage Pot
- Kensington Mortgages fined £1.2m
- Information About Remortgages And Mortgages | Technology Blogging
- Bob Litan on Derivatives Reform 2: Regulators Not Mounting Up? « Rortybomb
- People & Power – Money Geyser- 05 Aug 07 – Part 1 | Home Video Marketing
- How Can Wind Power Put Money in Your Pocket | DIY Solar Panels
- Advertising Using Power Words & Making Money Working From Home
- Solar Energy | Solar Power Panels And How They Can Save You Money