The Bailout of Speculative Investments continues - The Mafia is Alive and Well

Recently I suggested it would be less expensive for the US government to give $1 trillion to the financial institutions to cover their speculative losses than to play the games with interest rates and liquidity which will have long term negative effects on the US economy. It seems that someone, who actually counts, had the same idea. The Treasury, yes Mr. Wall Street now Treasury Secretary, is sponsoring the creation of a bailout fund between Bank of America (BAC) and JP Morgan (JPM). The fund of $ 100 billion would buy distressed bad loans allowing the banks to not write off the bad loans.

These loans would then be packaged again and sold “avoiding fire sale pricing.” Where have we heard this before? Rumors are circulating, “the fund is guaranteed by the government”. It is so sad that we live in a country that will spend its money protecting the financial gains of speculators and “cannot afford to insure poor children!”

The examples of collusion and corruption are too numerous to list. Politicians are using our tax dollars to repay the favors from corporate America. We often think that the mafia has been eliminated in the US. I suggest that the mafia is alive and well. It has changed form. Now they call it Corporate America. The ills of corruption are the same. The economy suffers. The citizens are intimidated and freedoms are lost. So at the risk of finding a dead fish on my doorstep, this is CORRUPTION. Stop Collusion between business and government. Prosecute politicians receiving corporate bribes.