let me get a coupla trillion mane

Was gonna do a fluff post today, since I know a lot of folks don’t like to read, and others say I’m too deep and still more say I don’t need to talk bad or negative about Obama. On the latter, I like the guy, smart, astute and talented, and a strong family man. But the policy is not the man so let us not forget such. I will put the fluff post up Friday for the weekend; it will be called ASK ME ANYTHANG U WANT. But for the time being, me still focused on loot and the economy.

Was reading between the lines of the press briefing new treasury secretary jones gave yesterday. From what I take, it is calculated that President Obama is preparing to do a new rescue plan for Wall Street next week which may hit the $2 trillion mark. The plan will likely include creating what he calls a “Bad bank”, which I might interject sounds like the RTC to me. I mean if we revisit our history, The Resolution Trust Corporation was a Governemnt-owned asset management company. It was designed to liquidate real-estate and mortgage loan that were once those of the Savings and Loan Association. The savings and Loan Association was declared insolvent by the Office of Thrift Supervision. This was due to the said savings and loan crisis of the 1980s

Now what is a bad bank you ask? Well like the RTC, it would be a government-run entity that will purchase assets that are fuckn up the balance sheets of financial institutions. Treasury Secretary Timothy Geithner has alluded that the government will purchase basically worthless mortgage-backed securities and other "toxic" assets held by the banks, provide guarantees against future losses and also inject cash directly into the banks. If the government buys common shares in these institutions, the likely outcome will be that weaker banks will become the property of the Feds.

It is perfect timing too since most media attention is focused this week on the debate on the economic stimulus package and because the general populous is blinded by the Obamafication of America. According to my math, with all the bail outs before with the last President’s, and capital injection as well as loans and guarantees to the major banks/financial firms, this behavior has cost we the people about $8 trillion. This when we see the proposed Obama recovery plan don’t do jack to deal with ending the wave of incessant job loss or high rates of home foreclosures. All it does is makes for some lucrative tax write-offs for these institutions.

And back to this “Bad Bank” idea, the Feds will not buy these assents for their face value (less than a dollar in many cases if not pennies) but based on a "valuation model," guaranteeing top dollar prices. Making these Banks richer than they were before. Lesson being we are rewarding criminal behavior. They won’t even open the ledgers and books of these financial giants (hedge funds and banks included) to the public.

I don’t know what is next, and I have not yet developed any statistical models to discern the tenable impact of a $2 trillion dollar bail out package, especially in reference to the impact on so called “Main Street.” But what I do know is that we don’t have that much loot in our coffers, that we will become more in debt to China, that our deficit will increase massively and last but least our GDP will be reduced basically to shit. Dang, aint that some shit? All this is just my personal rumination and is merely speculation on my part. But we may be seeing more robberies into the future folk – again it is real in the field. Maybe martial law aint so far fetched in the future afterall. So long live complex finincial instruments whose values are derived from the value of things that don't exist.