It's Time For The Banks To Face The Hangman
By Mike Whitney
Officials in the Treasury Dept----working with their colleagues at Citigroup, J.P. Morgan and Bank of America---have concocted a scheme to rescue the banks from their massive losses in mortgage-backed securities. The group is planning to set up a $100 billion emergency fund which will purchase non-performing assets for short term debt. In truth, the fund is a bailout which provides the financial giants with an excuse for not reporting their enormous losses from bad bets.
LinkHere
Officials in the Treasury Dept----working with their colleagues at Citigroup, J.P. Morgan and Bank of America---have concocted a scheme to rescue the banks from their massive losses in mortgage-backed securities. The group is planning to set up a $100 billion emergency fund which will purchase non-performing assets for short term debt. In truth, the fund is a bailout which provides the financial giants with an excuse for not reporting their enormous losses from bad bets.
LinkHere
posted by Kangaroo Brisbane Australia at 2:54 AM
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