If Buffett gets 10% on his $5b for Goldman, what rate of return do the
US Taxpayers deserve on their $700b+ that’s going to go to lesser
quality banks?
And come to think about it, with the DOW up over 100 points
on the news last night, and with Asian banks up today, with
everyone from Buffett to Asian Banks now saying they’re willing
to invest in US Banks, why do we need to be bailing out anyone?
Let the Banks pay higher FDIC insurance rates… and let THEM
fund the FDIC pay out… instead of a US Taxpayer bail out.
Goldman & Morgan Stanley now have the Fed window, Buffet,
and Asian Banks willing to give them billions.
This bailout plan is like taking out a 125% LTV 2nd Mortgage
on America’s economic future.
Did we not learn anything about debt from this crisis?
Buffett gets to go to the head of the line and gets a 10% return
on GS, along with warrants to buy $5 billion of common stock
at $115 (8% below the close).
What “terms” do you think Congress is going to negotiate for you and I?
And why do fat cat insiders like Buffett get these sweetheart private
deals right before you and I get forced to pump hundreds
of billions of dollars in behind him, giving him an instant windfall?
We’re not just bailing out the likes of Goldman, were making the
rich insiders who just got to “cut in line” - richer.
…Buffet just made $700 million over night!
Get ready to bend over and assume the Governmental position.
SOTB
PS: What we need right now is a one million man march
on Washington D.C…. a million angry God fearing, Gold loving,
Gun toting, pissed off, and not going to take in any more Americans.
They will not fear, respect, or act upon anything less.
1 response so far ↓
1 josh d // Oct 13, 2008 at 10:37 pm
when and where do we meet for the march?
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