garyww wrote:
I for one don't have a lot of confidence in Tim Geitner especially after today where it appeared that he is a little troubled by his own proposals and wasn't even aware that the Czech gonvernement collasped yesterday when the banks failed.
I would also bet he has not read Karel Capek, War with the Newts.
This disaster changed when Bill Clinton told Obama that he had to put out a message of hope. Since then it has been pure spin.
The biggest danger comes from countries with politicians.
Citi Bank stock went up 300% in a week?
AIG went up, we own it, how can something 80% owned by the government go up?
Fanny and Freddie went up? We own them 100%.
Housing is falling still, unemployment is up, sales are down, taxes are down, and the market goes up 1,000 points?
The major banks have $12 trillion in losses and Geitner is going to fix that for $1 trillion, with more coming in every day, and now the banks are claiming to be profitable?
We are $12 trillion in the hole, took $35 Billion in bailout, but we made $100 Million in January?
At that rate they can pay off the bailout in 35 years, and cover their losses, in 12,000 years.
The American people cannot act in haste, we must wait for our leaders to lead?
Insurance companies that don't payoff, everyone goes to jail, the company is disolved. Banks that are bankrupt are closed, unless it is your Harvard Classmates.