Sunday, August 23, 2009

Mr. Bubble

here we go Again....

Tax Cheat Tim we believe you!

""I don't think the financial system is reverting to past practice, and we
won't let that happen," Mr. Geithner said. "The big banks are running with much less leverage now, much more conservative liquidity cushions, there's been a significant shrinking of their balance sheets, getting rid of bad assets and cleaning up. And the weakest parts of the system don't exist anymore."

Some banks, including those that received government bailout money, are earning record profits, increasing pay and ramping up risk. Goldman Sachs Group Inc., for instance, recently recorded its most profitable quarter ever and boosted its degree of risk-taking as measured by how much money it could lose in a single day."

"The consequence of achieving stability is that people can raise money, can raise equity, can borrow more easily at lower rates, that these markets have liquidity again," Mr. Geithner said.

For the last 10 years the banks were not paying into the FDIC Insurance Fund and now they are griping about having to pay in essence they were supposed to pay to insure your funds but in reality we paid and now the FDIC is BROKE and will need more of your money.

Sure Tim we believe you.....(video take a BATH with Mr. Bubble and you can watch me POP)
Sweet the FDIC is supposed to insure our money instead it appears we insured
the banks money!

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