One way or another taxpayers 're screwed !

Published on by The Inquirer

Many of the america largest banks owned more money than they actually have, there's a word for this : INSOLVENT ! We are in  a situation  in which one bailout follows another, with mounting costs and risks for taxpayers and with investors, borrowers and consumers left to wonder when the banking system will be reliably functional again ?

Most often the bankers say "is not bad as that" talking about the toxics assets, they believed that the market will be back soon, then "toxics assets" will worth more than their actual's value.Bankers dont want to "mark it to market", if they do so it would  immediately wipe out all their capital and they would have to declare bankruptcy.

Then we have our Governement  which buys toxics asset a higher rates than their current market’s value( rescue the banking system),of course bankers love the bail out's plan.Ultimately the tax payers will pay one way or another  either through greatly diminished job prospects and or significantly higher taxes down the line….WE ‘RE SCREWED ! Why not create with the taxpayer's money  new " ethic bank"  which would start lending again, at least it'd not produce CEOs lavish events.

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Published on OPINIONS

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