Obama sanctioning massive theft of public wealth
3/28/2009
On Wall Street, that is. So hyped by advance fanfare, Timothy Geithner unveiled his Public-Private Investment Program (PPIP) on March 23, the latest in a growing alphabet soup of handouts topping $12.5 trillion and counting – so much in so many forms, in “gov-speak” language, with so many changing and moving parts, it’s hard for experts to keep up let alone the public, except to sense something is very wrong. They’re being fleeced by a finance Ponzi scheme, sheer flimflam, and here’s how from what we know:
– $400 billion in taking over Fannie and Freddie;
– $42 billion for the auto giants; billions more coming for their suppliers;
– approaching $200 billion for AIG with more coming on request;
– $350 billion to Citigroup in handouts and loan guarantees;
– tens of billions to other banks, including $87 billion to JP Morgan Chase for bad Lehman Brothers trades;
– $700 billion for TARP I; half the money released under TARP II;
Harold
i hear you