Friday, April 3, 2009
Erosion Of Confidence In The System
The Anomymous Monetarist:
So let me get this straight ... the banksters will be able to launder legacy/toxic/crappy assets back to themselves and in doing so they will pump up the value of them.
This was further confirmed today by commentary that only folks that own these types of assets will be able to bid on these type of assets and that very large 10B+ hedge funds are being excluded because they aren't part of the crony capitalism club... hence they might actually speak truth to power as opposed to following directions.
We now, like other corrupt oligarchies throughout history, are reducing transparency in order to reward the financial elites that got us into this mess.
There is some commentary that since banks now have greater license to lie that they would be less willing to sell to the PPIP, that conundrum is obviated once one realizes that there is no conflict between buyer and seller in this scheme, literally they are bidding themselves up.
Oh and to add further insult in order to resolve the pablum narrative of enticing the banksters to sell the Federales have announced that they will sweeten the deal by providing a slice of the upside to 'em.
The rallymonkeys are circle smirking with abandon now, Bubblevision and HeeHaw will sell it like soap...its' a spring sale at the bananarama republic.
Only this time it truly is the taxpayer that is being taken down. As his eminence Sir Springsteen would say they 'cut you in half, while you're smilin' ear to ear. It's magic.' -AM)
Posted by Troy Ounce at 2:15:00 AM