We need to KNOW how bad things are
Fed Defies Transparency Aim in Refusal to Disclose (Update1)
By Mark Pittman, Bob Ivry and Alison Fitzgerald
Read this Bloomberg article.
Our own government, using trillions of our hard earned tax dollars, is not willing to tell us what the ‘toxic waste’ assets are that we are getting for loaning the banking industry, the insurance industry, perhaps the auto industry and others, our money.
Considering that Wall Street stupidity and greed got us into this mess, we should be knowledgeable about how the toxic waste is now spreading into our own pocketbooks.
What is the United State worth? Its value is now tainted by trillions of dollars of assets that STINK so much that they have been removed from the balance sheet of the private industries that created it and they have been put in the public’s hands.
We are now responsible for cleaning up the toxic waste. But none of us got the $4000 bottles of wine at company dinners, the remodeled kitchens, the Hampton getaway homes that were bought with the cash that flowed as these assets were bought and sold by private industry.
Here is a great reminder of the billions the Dr. Frankensteins rewarded themselves with, less than two short years ago:
Wall Street’s Season of Excess
Wednesday, December 20, 2006; Page D01
Now, two years later, like spoiled brats, they want to be rescued. Like youngsters who open all the family cupboards, eat and drink all the good stuff, run around partying and putting their dirty little fingers all over the walls and furniture, then drunkenly pee in the corners of the kitchen and let poo leak out of their diapers, they sit clasping their hands together, begging for relief from their own actions. Parental tough love is called for here. Why are we now picking up their poo?
Thank goodness for Bloomberg, for suing our government for what should be PUBLIC information.
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