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Geithner's $3 Trillion To The "Securitization Market"

Welcome to TARP as it is intended, or at least that is the story:

"Treasury Secretary Timothy Geithner announced plans that would make available $3 trillion dollars to the student, commercial mortgage, credit cards, SBA and auto loan securitization markets. This is part of Geithner speech to outline the use of the rest of the $350 billion Troubled Asset Relief Program (TARP) money."

Opening paragraph of the story here:  http://www.structuredfinancenews.com/news/190065-1.html


No need for commentary for this one, hahaha


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Spread The What Around?

Between the 700...oops I mean the 850 billion dollar Tarp bill (150 billion in "Christmas trees") and the amount the "big 3 auto makers" are looking for -- 15 to 75 billion -- as well as the states and their billions they need -- California looking for 15 billion -- it occurred to me: Haven't we already spread the wealth around?

Someone pinch me! How is it that there is any wealth left with a 1 trillion dollar deficit?

Consider also that the labor unions have to give concessions to save the big 3 auto makers.

Yep you read that right, the labor unions....oops again the one union for 3 businesses, United Auto Workers, whose whole purpose is to provide a voice for the auto worker, not dominate these companies and determine their survival, is the key to whether the big 3 get bailout money. Apparently the unions have possession of the wealth that GM, Ford, and Chrysler were built upon, and, hold the future of the employee and employer in their hands. the UAW the balancing fulcrum of social order.

Do any of you remember voting for the government and business to be subservient to the unions as the leaders and sole arbiter of our nation's economic future, and thus our nation? I sure don't. Last I knew we are a capitalist nation, built on our own work and not as laborers forever but to eventually be owners ourselves, employing others. We owned our farms, owned our livestock, our land, we had real property in the idea of reality. Renting was looked down on as a waste of money because of the lack of equity as renting is not an investment where we build equity that we can use to pursue and fulfill our dreams.

Those days have fallen to the wayside with the consumer economy, driven by the internet to an endless payment plan for access, and not even guaranteed access. We sign a one sided "End User License Agreement" where we have no rights at all but are to be subjected to making payment, irrespective of performance by those providing service.

Everywhere you look there is a redistribution of wealth from those who have any to those who are too incompetent to have any and generally because of government support and pursuit of "jobs." and this is irrespective of there being to many jobs where people do almost nothing but get a paycheck. Humorously if it wasn't so sad, these people lose their job and it's everyone's fault but their own. We like to think of ourselves ad productive, we build this wonderful story of ourselves that we tell to others but, in the end, we are producing little and paid far more than what we are worth because, in all honesty we do just enough not to get fired and just below as much as we could so we don't "show up" our fellow employees.

A little honesty about the "job" environment is a good thing. This reveals just how far we've come along to be less than our forefathers when it comes to wealth, real wealth. See when you realize this you know wealth has already been redistributed, and now the 700 billions and the 150 billion in "Christmas trees" added to that, along with the auto bailout and the "stimulus packages" too, you can see wealth redistribution has also already failed.

Make sure to act accordingly over these next 4 years when you hear the President-Elect and Congress wanting to enact legislation to "tax the upper 5 percent" to give money to those with less, for, you'll see the tax is being applied to the very people we've been giving money to, the banks and GM, to save their businesses, their industries, and of course the all important "jobs." It's rather obvious these "wealthy" people who are proving far less wealthy than the American people as a whole.

To me, the cars should be free if we own "the big 3" auto makers, and, we should be paying no interest on loans and have no deductible on insurance since we own the big players on Wall Street and AIG the big insurer as well. I mean, what owner pays for the use of their company products with cash out of their own pocket?

Thank you for reading.
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