Monday, March 30, 2009

Wasting Away in Shadow Bankingville

Who's drunk on taxpayer's money? Auto and financial firms line up for repeated shots of bailout cash. Customers fled from auto's and junk financial products. Today, the President spoke to his auto plan.

“When the American auto industry sheds its own waste”-Barack Obama

Meanwhile, taxpayers eat trillions in waste from the shadow banking system. Citizens finance public-private partnerships with up to 97% public money. The 3% private sector comes from, the same shadow bankers, who stand to make a 25% rate of return.

Guess what production line just restarted? Debt securitization, as popular as SUV's with $4 a gallon gasoline. Confused yet?

It seems our elected officials in Washington keep shedding waste on citizens. Disgusted yet?

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