Toxic Assets

Well I guess this will be SHORT and to the POINT. Tim (TURBO TAX) Geithner changed the name of “TOXIC ASSESTS” to “LEGACY ASSESTS”. Basicially this program is the same program Paulson had 5 months ago except now Wall Street can invest 6 % to buy up these assets with the taxpayer on the hook for the rest, (possibly 2—4 Trillion dollars). As a taxpayer I feel if I’m going to be at risk for 94% I might as well be on the hook for the whole 100% and reap ALL the profit instead of giving up 50% of the profit for only a 6% investment from those who caused the problem. Remember now Wall Street and the Banks that caused the problem can come in and buy up the new named  “LEGACY ASSESTS” at pennies on the dollars (with no strings), just another windfall for Wall Street at Main Streets expense. Why not offer the home to the one forclosed on for the same terms (six cents on the dollar). When this program unfolds it will make you forget about AIG.

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17 Responses to Toxic Assets

  1. jbs1717 says:

    They are putting it to us, aren’t they.

  2. VINCE says:

    IS ANYONE REALLY INTERESTED IN A MARCH ON DC ON MAY 30, 2009????
    HERE IS THE LINK:
    Please join now by clicking here:

    http://www.resistnet.com/group/wethepeoplemarchonwashington

  3. Dayvid Franke says:

    Bill,

    I recently came across your site.

    I just this morning forwarded an email to everyone that I know in order to get your name “out there” because I believe, or in fact know, that many of us feel the way that you do and you are spot on the mark.

    In a country that is comprised of some of the best and brightest minds on the planet, I have a hard time figuring out how it is possible that the candidates that we are offered, are as worthless as they are…?

    Point being, if you were to make a presidential bid, I would sign and support you financially.

    I am dreadfully tired of what either of the two main parties offer and I have to say, I would settle for someone that just possessed some plain and simple common sense.

    People already know who you are. I will do my part and continue calling my elected officials and berating them for being f***ing stupid… please do your part and perhaps, consider a run for president. I mean, we all have to live here, so let’s do something. I will help in any way that I can.

    Dayvid Franke

  4. RN says:

    WORD SALAD-Twisting in the wind …should be called TOXIC LEGACY!!! :(
    The word TOXIC just jumped out at me. If anyone knows the information on the following-please share.
    I want to know where Geitner’s 17 or so deputies are hiding out…-I want to know why they have not been appointed-yet!!!-or-if they have I want to know why we have not been informed. Perhaps O’s economic advisors advised —just to let Geitner do what he is doing without the benefit of deputies-if you get my drift.
    I think I have mentioned this before but I don’t remember seeing any answers.
    As to obama-once again-he continues to be right on course and will do exactly what he wants to do at the time he wants to do it.
    He refuses to look directly into the lens of the cameras-he squints his eyes in trying to read the teleprompters and in doing so he projects a rather sinister appearance and just once I would like to see him make an appearance without that opossum grin on his face. Just once- Lose that damn opossum grin.
    OK-I am done for now. Thank you as always Bill for giving me a place to vent!!!

  5. dontkidme says:

    LEGACY ASSETS!…If it talks like a duck, walks like a duck, and acts like a duck…IT’S A DUCK!
    How stupid do they think the American people are?

    RN…If I’m not mistaken, there was some talk the other day that they had chosen three deputies who were going to be appointed to help Geitner screw the American people.

  6. RN says:

    Ohhh thanks DKM-I thought maybe they were going to let him do it all on his own!!!

  7. Greg says:

    Juat raceved an e-mail from Worldnetdaily. Ovama seeks Muslims for White House posts. It states that Barack Obama is conducting his own affermative action program to get more Muslims in the White House. We are heading for the end times.

  8. Incognito says:

    Damn rights we’ve had it, BIG time. If you think we can get out of this mess then I have news for you. Nothing short of a revolution will get us free of the mess this country is in right now. If you want to be informed how I know, then run to your nearest library and get the book” The Creature form Jekyll Island ” by G. Edward Griffin. Its a second look at the federal reserve. What he writes is not idle retoric. It is facts, backed up with documentation. He tells it like it is. We are screwed, blued and tattooed by our own government. And it’s gonna be that way as long as things stay the way they are.

  9. carol says:

    Dear friends,

    Watch this:

    http://www.youtube.com/watch?v=eAaQNACwaLw

    I fear this may be so true and short of a real war I don’t knowe what we can do.

    GOD HELP US ALL

  10. dontkidme says:

    Carol…I spent two hours watching the video you suggested and I think everyone should watch it. Maybe someone who does, will have the answers. I just can’t believe this is road we go down in this great country. I am ready to do what it takes, whatever it is!

  11. carol says:

    Good morning everyone!

    Here is my prayer for this great land! I know God is faithful and He will not forsake us. I do believe He has removed His covering from our land. We must invite Him back to be Sovereign Lord.

    The author of this prayer knew full well what the values of this land are and what the Constitution stood for.

    Almighty God, Who has given us this good land for our heritage; We humbly beseech Thee that we may always prove ourselves a people mindful of Thy favor and glad to do Thy will. Bless our land with honorable ministry, sound learning, and pure manners. Save us from violence, discord, and confusion, from pride and arrogance, and from every evil way. Defend our liberties, and fashion into one united people, the multitude brought hither out of many kindreds and tongues. Endow with Thy spirit of wisdom those whom in Thy name we entrust the authority of government, that there may be justice and peace at home, and that through obedience to Thy law, we may show forth Thy praise among the nations of the earth. In time of prosperity fill our hearts with thankfulness, and in the day of trouble, suffer not our trust in Thee to fail; all of which we ask through Jesus Christ our Lord. Amen.
    WASHINGTON D.C. March 4, 1801 Thomas Jefferson

  12. carol says:

    I don’t know where every one is. Vince said we must do something. Please read this web-site. This is a start and it’s legal.

    http://www.cusc.org/editorial/3563.htm

  13. carol says:

    Look! People in Georgia have already acted.

    http://www.riseupforamerica.com/

  14. carol says:

    TRUE OR FALSE?? ANYONE KNOW?

    Does anybody out there have any memory of the reason given for the establishment of the DEPARTMENT OF ENERGY during the Carter Administration? Anybody? Anything? No?

    Didn’t think so.
    Bottom line . . we’ve spent several hundred billion dollars in support of an agency the reason for which not one person who reads this can remember.
    Ready? It was very simple, and at the time everybody thought it very appropriate.

    The Department of Energy was instituted 8-04-1977 TO LESSEN OUR DEPENDENCE ON FOREIGN OIL. HEY, PRETTY EFFICIENT, HUH?

    AND NOW IT’S 2008, 31 YEARS LATER, AND THE BUDGET FOR THIS NECESSARY DEPARTMENT IS AT $24.2 BILLION A YEAR, THEY HAVE 16,000 FEDERAL EMPLOYEES, AND APPROXIMATELY 100,000 CONTRACT EMPLOYEES AND LOOK AT THE JOB THEY HAVE DONE!

    THIS IS WHERE YOU SLAP YOUR FOREHEAD AND SAY ‘WHAT WAS I THINKING?’

    Ah yes, good ole beauocracy. And now we are going to turn the Banking system over to the congress? God Help us.

  15. BONDO BILL says:

    The only March on Washington I’ll do is a One Way March of No return, and I won’t be going empty handed, and Nobody’s going to be Happy to see me there. No I won’t be alone either.

  16. jkutny says:

    Just sick of the whole thing. 99% of DC are money hogs but don’t care about the people who put them there. I agree with 1 page of health care ‘reform’. start out with small changes that work instead of changing the whole system and have it crash or worse keep us from getting the health ‘care’ we need when ill. if they pass this monster, we will spend the rest of eternity trying to ‘fix’ it. Tigerpaws

  17. JillianBarnett says:

    Some time before, I did need to buy a house for my firm but I did not have enough cash and could not purchase anything. Thank God my friend suggested to get the loans from reliable bank. Hence, I did that and used to be happy with my secured loan.

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