REASON .5 : Thieves thief the fief:
There is a non-sense that the american bankers association and brokerages are pushing onto the public through there public relations departments, better known as the media and government. With forked tongue they stoke the idea that taxpayers will unfairly be footing the bill for speculators and people who tried to get over with no money down mortgages, while justifying taxpayer bailouts for themselves. The wall st. bailout has helped no part of the economy and have widened and deepened the length and severity of the crisis. The reason is trickle down never trickles. CEO pay has been growing in multiples of the average employee for decades and now the banks are hoarding the cash infusions, raising rates and refusing to pass on interest rate cuts.
On the other hand, If these F#$%& selfish idiots would have put in guarantees and judicial mechanism to keep people paying their mortgages then everyone would have benefited. Property taxes, bank revenues, home values, consumer spending all would have found a bottom much sooner. Fortunately, the fools in the public who allow this to be the way it is and support it will live long enough to suffer the consequences. Most of these neo-nuts are not ultra wealthy but support these robber barons, for cultural reasons. When they're told play that they play by the rules then they see themselves financing a bailout for minority homeowners. They believe the rich robber barons are going to pick them up on their way to their rich hide-away. They will be here suffering from fewer public services, halved home values and unemployment. In the next few issues we'll get to more details of the smoke and mirrors
Pay no attention to the man behind the curtain, the little man tells Dorothy in 1939. The bank of England says it needs to be able bailout banks in secret. Meanwhile the BBA (Britain bankers association)