Something is wrong with this picture...

[kentuck]

We, the taxpayers, give billions and trillions of dollars to the banks and they turn around and loan it back to us with interest? Either we are stupid fucks or they are the slickest con men in the history of the world? Perhaps they will send us one of their new credit cards through the mail and only charge us 28% interest?

But, of course, we must give them whatever they ask for. Otherwise, our entire system will collapse. Nobody will be able to get any credit whatsoever. Everything will freeze the fuck up. The world will end. You will shit all over yourself and their will be no toilet paper. Could they really be playing us all for suckers?

I have a simple rule that has worked for me most of my life. If you cannot explain something in a simple way that I can understand, then you are either trying to pull a con job or you do not understand what you are talking about? Most of the time, it is the former.

[The Straight Story]

1. Like I said before, we weren't going to Tax their benefits, just raise their interest rates

They got all upset at us for doing what they do to us on a regular basis.

[Tuesday Afternoon]

2. The truth just sounds different. K&R

[kentuck]

3. See how easy it is to explain?

:-)

[Tuesday Afternoon]

4. So very simple.

Truth is as transparent as glass and rings like a bell.

Not smoke screens and cacophony.

[kentuck]

7. Truth is simple.

It is not complex.

[yowzayowzayowza]

16. So spake Ptolemy. n/t

[dysfunctional press]

5. actually- we're loaning it to them as well, not 'giving' it. .

personally, i favour a nationalized consumer banking system, including a low-rate federal credit card.

[kentuck]

6. Actually, we will get it all back with interest....

Or maybe not?

[dysfunctional press]

13. not if people keep blasting the company over relatively insignificant bonuses...

and knocking the value of the company we kinda own all to hell.

[VPStoltz]

8. Well, this has been going on for years.

The rates banks and the fed charge each other for a loan is now ZERO interest.
But have you received a break on your latest attempt to get a loan.
I was turned down for a $30K "micro-loan" to help start a business because the bank wouldn't make enough money off me - that's what they told me!
Got a line of credit for 9.75 when the bank was paying 1% for its funds.
And don't even try the Small Business Administration.
It basically ignores you after you have submitted your life.

[Art_from_Ark]

9. And often they don't even loan it "back to us"

They use it to swallow up smaller (but maybe better run) banks

[newtothegame]

10. They're paying interest on billions and trillions of dollars and loans...

My dad works for Wells Fargo and they just sent the government a huge check to cover the interest on bailout money THEY ASKED NOT TO RECEIVE. So yes, you're paying interest on your loans, just like they are. Your $14.00 a month in credit card interest is a might smaller than what Wells Fargo just shelled out to cover money IT NEVER ASKED FOR.

[CoffeeCat]

14. Interesting that you mention that Wells...

...never asked for the money.

I wish this would be addressed. It's such an obscure thing, but I think it's important
and it's always bothered me. Wells did not want the bailout money. So, why in the hell
were they forced to take it?

Wells is a conservative bank, and they have always been responsible. They didn't get into
a lot of sub-prime lending like many banks did. They were sound and doing well.

They were strong armed into taking the bailout money. Why?

Frontline did a program on the bailout and mentioned the talks that Paulson had with the bank
CEOs. He told them that they WOULD take this money and that they WOULD sign a paper saying
that they would. Frontline reported that Paulson and others said that there was one CEO who
was very angry, to the point of screaming. That would be Wells.

There was also a quote that I saw from the Wells CEO during the bailout hoopla when Congress
was voting on it. He said that he didn't want the money, but the government told Wells that
they had better take it, because the next time they really need help, the government wouldn't
be so nice. What does that mean? If Wells didn't take the money, they would be damaged in some
way and the government wouldn't be there?

I don't know what all of this means. But it appears that the government wanted all of the major
banks in on this. They didn't want Wells operating by itself. Almost like the mafia gives
out "loans" to important businesses, to ultimately have control of them.

I think this situation with Wells is one of the great mysteries of modern times!

[newtothegame]

17. Well said and agreed. The OP seems to have posted out of anger, instead of knowledge. n/t

[girl gone mad]

11. I'd recommend that you stop doing business with them..

but then our duly elected officials may just decide to give them even more of our future earnings.

[Truth2Tell]

12. the slickest con men in the history of the world

That's my vote.

[Wednesdays]

15. K&R

:kick: