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Friday, April 17, 2009

FromDC2Iowa: Banks declare their bailout a success

Excerpted from this post at FromDC2Iowa

Cash, Credit, and Mortgage Foreclosures ... Things may not be quite as
bad as the Onion News Network portrays, but its report sure fingers
the problem -- as we'll explore in a moment, below. Let's see now, why
was it we were told we had to "right now, no questions asked or
answered, trust us" give billions of taxpayer dollars to some of
America's largest banks and their wealthy executives? Oh, yeah, the
suggestion was pretty heavy that ordinary taxpayers weren't
sophisticated enough to really understand, which is why we had to
leave the solutions to the guys who created the problem -- guys who
tend to rotate back and forth between Wall Street and the Treasury
Department.

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Mike Schramm
Andy Szal

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