I got your systemic risk right here

A jagged downward slope

Are you a friend of TurboTaxcheat Timmeh? Then you are obviously aware that friendship has its privileges. Expect to be unbelievably & unjustly well-compensated when you unload that shitload of taxpayer-subsidized toxic sludge onto unsuspecting pension funds/401ks.

How to Destroy the Government in Three Easy Steps [truthout]

How to create a financial crisis [examiner.com]

Geithner to Ask Congress for Broad Power to Seize Firms [BB][AP]
Welcome to (Hugo) Chavez country!

Mish’s take: Shitehner’s Arrogance Knows No Bounds

Geithner’s Gift to Hedge Funds [Mike Morgan]

Stiglitz Critical Of Geithner’s PPIP [Reuters]

“The U.S. government is basically using the taxpayer to guarantee against downside risk on the value of these assets, while giving the upside, or potential profits, to private investors.” -Joe Sitglitz

From the trenches:
83-year-old condo owner with onerous mortgage is ready to walk away [MW]

Public-Private Investment Program for Dummies: How does the new Treasury Plan Impact Housing and the Market? Poorly Planned Investment Program (PPIP) [Dr. Housing Bubble] A must-read. If you read only one of these links, make it this one.

“We are not going to have a Japanese experience. Japan zombified banks.  With this plan we just zombified the taxpayer.”

Who insures the insurers?
Bernanke Bombshell: AIG Insurer Exposed to FP [Barry Ritholtz]
The taxpayer of course!

Obama- bring back Glass-Steagall already! What the fuck are you waitin’ for?!?!?

Are Treasuries another bubble? Should you buy them?
The Answer, of Course, Is ‘No’ [financial armageddon]
The implications of the reckless, untested-and-unproven Shitener and Bukkake ‘plans’ will have on the USSA’s credit rating- and potential debt default (hellloooo GD2.0) will BLOW YOUR MIND!

Mike Whitney: Geither Screws The Public To Benefit The Banks, Again [patrick.net]
This bailout plan is no different from Hanky-Panky’s failed MLEC/Super SIV ‘plan.’

What more proof do you need that even though we had an election, the new boss is same as the old boss? Yeah I know, the new one is black, but why should race matter? A puppet is a puppet. Bush=Obama=Panky=Shitener=Bukkake=Rubin=Summers=Bair.

“Just when we thought it was over, it was only the end of the beginning.”


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