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Comment on: Hick from the Sticks

The blithering idiot at the Treasury Department

1 Comment

Seen the ACLU lately

They are rarer than a feminist at a Clinton protest.I particularly like the latest con game Geithner is pulling.The sale of toxic assets to the private sector.Shell games are illegal on the street corners of New York,but this man can sell,for fifty bucks and up a chance to get a return on a company that has failed.The "treasury"will chip in matching funds and then the "FDIC" will put six times your amount into the chance that this company will suddenly spring back to life.If it does,you get to split the winnings evenly with the treasury.Idiocy #1-All the above mentioned donors are tax dollars.The taxpayer is 100% buying the toxic asset(oxymoron dujour)with a slim chance of getting three to one returns if the company comes back to solvency .And there is no date when the winnings will be doled out.Why not just print more scratch tickets for everyone? The big selling spiel-your dollars are the last to be eaten!Every penny of other peoples tax dollars will go before yours-YIPPEE.Chapter 7 bankruptcy would have given the evil rich a chance to get even richer by buying out the companies with a decent balance sheet.The taxpayers would not be fleeced and you would not get sucker punched by Big Bro!Did Geithner fail to mention if the company is somehow saved the employees will have to be paid union comenserate wages.That lowers your chances of getting your fifty bucks back to slightly below zero.Add the punitive tax rate and the rich will flock to far away places,money and jobs in hand.I give this country 18 months max until the big house of cards collapses completely.