Tuesday, June 22, 2010


Treasury Secretary Tim Geithner says that the TARP bailout money is being repaid by the banks. Specifically, Mr. Geithner told our Congressional TARP watchdog panel that banks had repaid about 75 percent of the bailout (Troubled Asset Relief Program, or TARP) money they received, and that the government’s investments in those banks had brought taxpayers $21 billion.

Wonderful. Nothing like a little smoke & mirrors to distract America from the real money being shelled out by the American taxpayer.

My question is what about the trillions of dollars that the has been stolen by sent to Wall Street via at least a dozen Federal Reserve programs? Where did this money come from? What's happened to this money? Who's going to pay for all the reckless bets paid out, that never should have been paid out? And why were the idiots on Wall Street compensated 100 cents on the dollar for all their stupidity?

I think I have a pretty good idea what's happened to all our money. With all the smoke & mirrors encouraged by our federal regulators it's pretty much gone the way of our market economy. Down a dark tube. This is why I like this comic from This Modern World. It reminds us all that the "invisible hand" of the marketplace is essentially a one way street.

Either way, the American taxpayer ends up as road kill.

- Mark

No comments: