General Discussion
In reply to the discussion: Sitting in a restaurant today I realized how much trouble we are in for [View all]truedelphi
(32,324 posts)It's not my desire to see the country go up in flames - but history shows us that when the Bankers or "noblesse oblige" are allowed to bankrupt the other members of the social strata, times get very wicked.
The banking bailouts, and the Too Big Too Fail have taught most Americans that we here in the USA have a "noblesse oblige." And one of the most ardent proponents of that new nobility is one Tim Geithner, who sits in his office down the hall form the Oval Office.
Obama considers Tim his "good Buddy."
And the article about Bank of America from Matt Taibi has a very telling comment buried two thirds of the way through the report: Bank of America is planning on using pension funds to bolster up its failing financial "bets" - to the tune of fifty five trillion dollars.
I will repeat that sentence, and no the "trillion" is not a typo:
Bank of America is planning on using pension funds to bolster up its failing financial "bets" - to the tune of fifty five trillion dollars.