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A Toxic Plan for Toxic Waste?

Message Rafe Pilgrim

We are so advised today:

The "Public Private Investment Program" works like this: The Treasury provides capital for new investment funds, matched with investments from private investors such as hedge funds. The funds can magnify their returns--and scale of borrowing--by borrowing money from the FDIC and Federal Reserve.

The hedge funds or other private investors then buy the assets, competing with each other, which should drive the price above current levels. If they value the assets well and the assets prove to have good value over the long-run, the FDIC and Fed loans will be repaid, and the hedge fund and Treasury Department split the remaining profits in proportion to their original investment. If the investors choose poorly, or the assets fall significantly in value, the government shares in any loss.  (End of advisement.)

This from the same source that editorially previously advised that it was not a really good idea for OUR government to "interfere" with awarding retention bonuses to the AIG folks who lost multi-billions of dollars which the public (they be us!) are somehow on the hook for!!!???

On this information: 

(1)  Does anyone actually, not emotionally reactively but actually understand this process? 

(2) With OUR dollars again at risk, does anyone enthusiastically support this plan? 

(3)  Does anyone believe that once in action, the course of this operation will be fully transparent to and understood by the public? 

(4)  In view of their recent performance as managers and guardians of our economy, does anyone trust the operatives of this plan, i.e.:  the hedge fund managers, the FDIC, the Federal Reserve, the Treasury Department, and their political and commercial masters? 

(5) Does anyone believe that this plan has a chance of succeeding to the benefit of the citizens (again, to you and me).   

 (6)  Outside of the government and commercial operatives, does anyone approve of this course of action? 

(7) If not -- which we can safely assume is by far the majority persuasion -- WHAT DO YOU PROPOSE WE DO TO STOP IT ?

(Note:  Responses already in hand from Pogo and Ponzi.) 

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Rafe Pilgrim, after "a life largely wasted on hard honest work," found himself a jungle of turkey oak, scrub pine and giant palmettos up a dirt road running east of Crystal River, Florida, which neither school busses nor the U.S. Postal Service dare (more...)
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