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View Diary: What does a multi-trillion dollar bailout get you? (24 comments)

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  •  On the last graphic, avg net worth (8+ / 0-)

    when considered in view of inflation, where annual inflation averages 3% over the period:

    oldsters
    1984 $120,000
    2009 $170,000 (and than has to be lower in 2012)
    should be $250,000

    youngsters
    1984 $11,500
    2009 $3,700 (and that has to be lower in 2012)
    should be $24,000

    I'm still trying to figure out why the fed didn't just issue every man woman and child a $3,000 long-term loan, at the near-zero rates they gave the Organized Crime outfits. It would have come in at under a Trillion layout, every penny would have been spent on paying off debt (helping the banks) or new purchases (helping the jobs picture).

    Oh wait! I did figure it out. The "reinflate the housing bubble" explanation is just the beard for the real reason: getting banks to be solvent again. Or at least to more easily pretend they are. Because of all those housing derivatives they are holding (still avoiding mark-to-market, no?) are plainly worth about 40-65% at best of their face value.

    The Fed's scheme has been nothing but making the TPTF not be forced by the rules of the marketplace to declare bankruptcy, and then be reorganized and that presumably with other executives in place. Thus losing all those bonuses and salaries and golden parachutes (and cocaine and prostitutes) to which they've become accustomed.

    Thanks for the graphic on the banks nailed on drug-money laundering. I keep meaning to find time to dig that info out of the news stories. The positive thing about nobody getting criminal prosecutions for all that is there can be no clearer declaration that the War on Drugs is plainly over. You close down al-qaeda's bankers in the war on terror. Surely if there were a War on Drugs, the drug dealers bankers would be shut down.

    And let me be astonished in advance that this diary will not be promoted to the front page, or go on the Rescue List if it doesn't make Rec status.


    Markos! Not only are the Gates Not Crashed, they've fallen on us. Actual Representatives are what we urgently need, because we have almost none.

    by Jim P on Sun Jan 27, 2013 at 12:09:17 PM PST

    •  I'm astonished in advance too (5+ / 0-)

      I tend to collect graphs and links for a period of months.

      Then every once in a while I take an inventory and see if I have enough related ones to make a decent diary.

        This diary is the product of my last inventory.

      ¡Cállate o despertarás la izquierda! - protest sign in Spain

      by gjohnsit on Sun Jan 27, 2013 at 12:19:20 PM PST

      [ Parent ]

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