David Martin

Paulson Pulls Back the TARP

The contrast with the Swedish full nationalisation of a bank the other day is instructive.
All the board was sacked and they will be lucky to escape prosecution, let alone collect bonuses.
Paulson is a grifter, and sadly Obama has surrounded himself with other grifters who created the mess in the first place and profited hugely by it.
I don't think these scam artists have got their head around the fact that if they avoid the rule of law, when the ponzi scheme crashes Judge Lynch is going to look for them and theirs.

Couldn't the New AIG Bailout Have Waited Until January?

That is not the most uncharitable explanation.
The alternative is that this is an on-going scam perpetrated to benefit insiders and drain money from the taxpayer and companies outside of the favoured circle.
That seems to me to be the correct explanation.

White-Hot Mad over AIG

Interestingly, just about all of these blogs except those by lackeys realise that a scam is being perpetrated, as did the public when they contacted their 'representatives' to try to stop the bail-out.
We were told by the Senators and Congressmen that opinion subsequently changed, but were given no evidence for this.
This scam is being carried out in broad daylight, with the connivance of the whole establishment.

Fed Is Likely to Make Money from Its Bank Buyouts

Correct. If it is the taxpayer that takes the risks, it is the taxpayer that should own the company.
It appears that Paulson is actually aiming at a financial dictatorship, where he can provide sweet deals for his buddies to get 'administration' fees whilst gutting the companies and landing the waste on the taxpayer, and all this with immunity to the law of the land and not subject to any review or check!
Nothing like this has been seen since the oligarchs stole the Russian economy.
These are thieves and scammers who seek to violate the American constitution.

The Bailout to End All Bailouts

How about a 95% tax on bonuses paid over the last 5 years to executives in companies which go bust due to their pyramid selling schemes on the house markets?
That includes their bundling into derivatives, of course.
That should raise a fair few billions in contributions to clearing up the mess they have made,
Hopefully they will join the homeless who suffer for their reckless endangerment of the financial system.
A little fairer than charging people who have in no way profited from these scams, I think.
Too big to fail? Then bankrupt them and split them up.
Liquidity should be injected into the system through new institutions set up for the purpose who would buy the assets of the failed institutions at their true market rate.
If anyone disagrees and thinks that taxpayers money should be used to prop up the present system, then they should be given the opportunity of leading the charge by putting up their own assets.