The innocence of the banksters?
This is just too incorrect. 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 contender 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 point banksters. The modern name for these parasitic scoundrels is BANKSTERS.
(CBS) The Obama handing out rolled out a plot Monday that could facilitate the buy 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 perilous," Doug Rediker, of New America Foundation, told CBS News. ….. Full Article "
Giving money and power to regime is like giving whiskey and car keys to teenage boys." – P.J. O’Rourke, Civil Democratic "The democracy will stop to exist when you take away from those who are willing to work and give to those who would not." –Thomas Jefferson
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