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That's back when the banks (and AIG) collected money from all these relatively poor people, showed record profits for years, gave record pay and bonuses to their managers, sales personnel and CEOs, sold worthless securities to investors around the world (again taking the profits to pay record salaries and bonuses to themselves) and then shorted and naked shorted each other driving their own stock and the stock of their competitor banks down so that their companies were worthless and they all had to turn to the government, the taxpayers for bail-outs.
So, now, the banks (not the banks that we thought we were putting our money into way back when, just what is left of the money that we put into them which is not much) and the government are trying to sell their shit to private investors.
By "private investors" do they mean those of us who put our money into 401(K)s and savings accounts out of our monthly paychecks for years and years? Oh, no!. We don't qualify to buy the toxic assets because WE ARE BROKE. Remember, they took our money and paid it to their managers, CEOs and sales personnel.
No, the people who are being given the opportunity to buy the banks' shit are THE VERY PEOPLE WHO STOLE OUR MONEY IN THE FORM OF SALARIES AND BONUSES. Those guys at Goldman Sachs who took $24 billion in bonuses and other compensation in 2006 when Goldman was making record profits.
Check the figures on the balance sheets of these thieves in 2006. You will see who ran away with the money -- who stole the money of not just the American people but of ordinary people around the world. Remember Iceland. Remember the Bank of Scotland. And just you wait until you see what is happening in Eastern Europe. The Czech government fell yesterday.
Obama needs to talk to someone outside of the bank clique. He needs to widen the circle of the economic advisers he listens to. He needs to get away from the Chicago crowd.
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