$700 Billion American Taxpayer Dollars to go to Foreigners!!

[More @ Ticker Forum]

Did anyone happen to see Krudblow today? He was interviewing Brad Sherman, who voted against the bailout, who unexpectedly revealed the truth. not that Krudblow cottoned on to it.

Paraphrasing:
“So Bush and Paulson made a deal. They called every one up and said, look….backstop our dollar by trading with our reserve bank. We’ll take Yen, Euros etc and use them to prop up our weak dollar as everyone dumps
U.S. assets. In exchange we PROMISE that any bill that passes will buy up YOUR toxic crapola. Beautiful. I can see clearly now.”

Paulson and Bush threatened to veto the legislation if there was an explicit prohibition of transfers from foreign banks to an American subsidiary.

THE ASSETS DO NOT EVEN HAVE TO BE AMERICAN MORTGAGE ASSETS – THEY CAN BE A FUCKING OFFICE TOWER IN SHANGHAI!

YOU ARE GOING TO GET FUCKING FLEECED FOR HUNDREDS OF BILLIONS OF DOLLARS IF THIS BILL PASSES – THAT MONEY IS GOING TO GO IMMEDIATELY OUT OF THE COUNTRY!

-Karl Denninger

This is the one clause that without it, the bill would be vetoed by Bush. that’s a tell.

This is the link: CNBS

Brad Sherman tells it like it is.

We are so fucked.

A picture says a thousand words.


“We’re all tinfoil now.”

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