But they're not doing that. Instead they used that money to bolster their balance sheets allowing them to post profits even in the midst of the worst economy in our lifetimes. For example, Well Fargo, which had $25 billion in bailout funds pumped into it's tummy, reported $3 billion in “profits” last quarter. (I do believe that even the Obama's new puppy could post a $3 billion profit if Uncle Sam wired $25 billion into his bank account.) I wonder how much of that $3 billion in profits came from the kind of exorbitant fees they tried to stick to Jeff in Minnesota?
So, if you, or someone you care about, is being squeezed by one of these Giant Ass welfare queen institutions, sit down with piece of paper and a calculator and see what chips you have to play, then play them like your very lives depended on the outcome.
Having said that, realize, it won't be easy. This is a form of combat, and should not be entered into by borrowers unless they are ready, willing and able to endure the rigors of a fight. But if they fight -- if lots of them start fighting back – Washington will have to act, and this time in interest of average Americans.
Until then Generals Neither and Summers will be leading the us right back to where we began.
“The banks have a stranglehold on the political process. Many of their foot soldiers now occupy the highest offices in government. It's up to people like Elizabeth Warren to draw attention to the silent coup that has taken place and do whatever needs to be done to purge the moneylenders from the seat of power and restore representative government. It's a tall order and time is running out.”
(From Mike Whitney's piece, “Is Inhibiter's Game Up? Damning Report n His Smoke-and-Mirrors Bank Rescue Plan”)
Good luck. And be careful out there.
So, if you, or someone you care about, is being squeezed by one of these Giant Ass welfare queen institutions, sit down with piece of paper and a calculator and see what chips you have to play, then play them like your very lives depended on the outcome.
Having said that, realize, it won't be easy. This is a form of combat, and should not be entered into by borrowers unless they are ready, willing and able to endure the rigors of a fight. But if they fight -- if lots of them start fighting back – Washington will have to act, and this time in interest of average Americans.
Until then Generals Neither and Summers will be leading the us right back to where we began.
(From Mike Whitney's piece, “Is Inhibiter's Game Up? Damning Report n His Smoke-and-Mirrors Bank Rescue Plan”)
Good luck. And be careful out there.
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