Mrcauser’s Weblog

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Why should banks worry?….

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Free “get out of jail” cards. Commit fraud and the government bails you out.

The good news is Dems lose in November, the bad news is the Republicans win in November. Heads I win tails you lose. LOL

But the boom is in the works. Oh it will be ugly this fall when housing numbers catch up from the silly tax credit that was too little too late shows up in the statistics. Also,  foreclosures hit full steam and manufacturing craters forcing  Oba mama  to pull a Clinton and make nice with the Republicans.

Get ready for your check.

Oba mama won’t have enough Dems left this winter so lame duck Dems are going to let ‘er rip.

Yes they will.

The gang in Washington, as I’ve pointed out before, still has a spare trillion or so to pump into the economy for stimulus that they have in reserve from the TARP bill.

Bernanke to World: We’re Going to Fiddle While Rome Burns

If you are operating a bank, and you had lost your depositors’ funds by making bad real estate loans, normally you would be sweating bullets by now, or among the 14.6 million pounding the pavement looking for work. But you need not worry. You got $1.3 trillion of reserves to tide you over while your bad loans continue to deteriorate.

Uncle Ben bailed you out, and he even gave you the money to pay back your other uncle, Sam. Now that you got rid of the TARP, you can go back to paying out big bonuses, even if they are on profits facilitated by the easing of accounting rules.

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Written by mrcauser

September 2, 2010 at 4:11 pm

Posted in Uncategorized

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