"Last week, the Treasury Department announced it would inject up to $250 billion in U.S. banks in return for partial ownership, something that hasn't been done since the Great Depression. The government hopes banks will use the capital infusions to rebuild their reserves and bolster lending to customers."
This is from the mainstream media. They are a bunch of distorting assholes. They can not tell the truth is their lives depended on it.
The government HOPES the banks will use the capital infusions to rebuild their reserves and bolster lending to customer. THIS IS BULLSHIT! Regular people with businesses, that pay their bills, and have in the past, still get the money they need to run. Not a problem! What the banks are doing in refusing to loan money to other banks because they know they own toxic mortgages and credit default swaps. It ain't Joe Blow out here that pays his bills on time and always has, that can't get a loan, IT'S THE BANKS!
For the second or third time I will explain this. Banks get checked at the end of every day of business and the books have to balance. It's the law. So if they come up short on their balance they are used to calling another bank and borrowing enough money to make themselves look good the banking inspectors. But the banks refuse to loan like that any more because they know the other bank man go out of business or fail the next day and there goes all their money! And remember, these folks all know what the hell is going on. It ain't Joe Anybody that can't get a loan. If he has a track record of good business and he pays his bills on time he can get a loan to do business. Believe me! I know. I have friends in business and they don't have any trouble getting money. And for the media to say that business can't get money is nothing more than a damn lie! It just ain't true. Other BANKS can't get loans! One thief knows another.
The other part of this hideous paragraph is about the Treasury buying into some big banks and hoping they will unfreeze their wheels and get rolling again. Horseshit! Whoever owns a bank can get called upon to make up it's short comings! When a bank looks like it will fail it can call on it's owner for more cash to keep going. The government owning the bank stock puts YOU ON THE HOOK for the crook's bad investments. And we don't want any part of that. The payoff will be 600 trillion dollars when all is said and done and we do not want any part of it! FOR GOD'S SAKE, DO NOT LET THEM DO THIS TO YOU! It is a totally losing proposition. Only the bankers win. I've said enough. Stay alive.