Wall Street Cry Babies
Wednesday, December 29th, 2010.
The FBI began using the word ‘epidemic’ to describe mortgage fraud in September of *2004* predicting that it would cause an economic crisis if it were not contained. Greenspan, Bernanke, and Geithner knew exactly where we were headed, but failed to take action. The highrollers were having waaay too much fun sitting at the gambling tables with other people’s money, donchaknow. Until Reality once again reared its ugly head and it became obvious that all of those pretty zeros existed only on paper. The money – trillions of dollars – never actually existed!
When time came to settle up at the window, the modern-day Medici wannabes had to admit that the jig was up. Technically, they were insolvent and screamed for help – by threatening to bring down the entire global economy! – and the entire mess suddenly became a Big Freakin’ Emergency™. So the FED “rev’d up the presses” to pay off their gambling debts. FOREIGN banks and their U.S. subsidiaries received a huge chunk of that $3.3 trillion in TARP funds.











