Banks Dying Twice?

The multi-trillion dollar bailout of 2008-2009 was supposed to be for all the crazy, stupid foolish losses the banks incurred as a result of the $13 trillion dollar mortgage mess they multiplied into tens of trillions of dollars through “synthetic” CDOs and other exotic instruments.

I have just one question.

How could they still have the prospect of the same loss?

My Answer: The first time was a scam. They had no losses and were not expecting any. They had got away with it, or so they thought. Now, investors, homeowners, attorney generals, and media are onto them. The losses they are going to incur are monumentally larger than any current estimate. Now it’s the real thing. But they already cried for help and got it. Just how many times, Johnny, did your Aunt die? Your homework is due.

Posted in bubble, Corruption, Eviction, securities fraud |