- What a joke the Obama administration is becoming, as
it keeps trying to prop up failing industry after failing industry.
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- First we had the president becoming First Car Salesman,
offering federal guarantees for GM and Chrysler car warrantees so that
potential car customers wouldn't turn away from those two companies' showrooms
fearing that the manufacturers would go bust and leave them holding the
bag. Then he started touting the cars themselves, saying they were "great
products" and that people should go out and buy them.
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- Now we have the White House and Treasury Department assuring
us that all 19 of the country's biggest banks are going to survive the
credit crisis and the economic slump, and that they are all basically sound.
Okay, so some of them, like Bank of America which has to come up with $35
billion in new capital, need cash infusions or need their books juggled-a
total of $100 billion for all 19 banks--but as Fed Chairman and Chief of
Rehabilitation and Promotion (that's CRAP) for the banking industry Ben
Bernanke, is assuring us, "All the banks in the stress tests are solvent."...
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- For the rest of this story please go to:
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- http://www.thiscantbehappening.net
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