We in our magnanimous way are going to buy a bigger stake in Citi corp,,,, this, a bank, thats been to the trough erh the T.A.R.P. twice already & still cant get its books straight? That's what your proposing, correct?
Okay here's an alternative.
Don't, let Citi & AIG off the hook with bail outs, its not fair or smart, were already on the hook for over 100 billion with these two companies alone, we need to cut our losses and let the market correct itself. Those who would argue & say how can you say that! it hasn't worked yet!, I respond, your right it hasn't, because instead of letting it happen we've beguiled ourselves into thinking we can stop it by bailing out these institutions, many, like AIG aren't even banks. The real question is, why arent we vigourously investigating the institutions, just like with ENRON, why aren't we watching these guys doing the perp shuffle already?
The reason is simple & hasn't reared its head as yet, the real architects of this disaster are the ones who don't want these companies to go into bankruptcy, you see bankruptcy is a civil court, in a civil court there is no 5th amendment, no right to remain silent, after all, in civil court your dealing with cash & property in criminal court your dealing many times with someones life. As such they're differing standards. Standards, these architects don't want applied, as the evidence (I predict) will point straight back at them, who ever they are & if true, they can't afford for you to figure out they did it, after all who are they?
Why the people in charge of course! the Republicans & Democrats, or is it Democrats & Republicans or republicrats or even dempublicans !
What we're not seeing here is an open investigation of these institutions, which is in the best interests of everyone in this economy, we need a full vetting of these banks publicly in bankruptcy court, after which I predict that if this were to happen, a lot if not all of these institutions will be walked through at the very least chapter 11 if not chapter 7 & dissolution of their corporation.
Regrettably, this isn't going to happen, we're unfortunately stuck with the high drama of the economy in a recession & the politicians battling to hide the real reason why the bailouts & stimulus were allowed to happen in the first place. All while shoveling Keynesian hyperbola down our collective throats.
As such, I'm betting we have stagflation until 2013.
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