The United States [Bail Out Nation] Government Treasury and Ultra Secret , Ultra Private Federal Reserve continue to pour Money into the private sector to rescue Banking Companies from themselves at Taxpayer Expense. $700 Billion USD to Banking Thieves.
Banks that Screw Up the Most get the Most Bailout Money at the Expense of Taxpayers. Hardly a competitive free-enterprise system now is it? No One is “TOO BIG TO FAIL” but then again this is Socialism – Nationalization on Bush’s Watch – not capitalism.
Citigroup [C] after Losing another $8.3 Billion USD in the most recent quarter is Splitting into Two Entities – Reorganizing into Citicorp [Good Bank] and Citi Holdings [Bad Bank]. Shares [C] NYSE are down to 3.50 a share.
Bank of America [BAC] – even after Receiving another $20 Billion USD in TARP Taxpayer Bailout Money and a Loan Guarantee of $118 Billion USD for its toxic Merrill Lynch unit – the stock [BAC] NYSE dropped to $7.18 a share.
It’s not only the USA who has Nationalized their Banking Sector look at AIB Allied Irish Banks and the Huge RBS Royal Bank of Scotland. If not for Taxpayer Bailouts issued by the government the Shareholders would be Wiped Out.
RBS – Royal Bank of Scotland said its Losses for the full year could be 28 billion GBP [$41.3 Billion USD]. That would be the Biggest Loss Ever by a British Corporation.
Ron Paul is working on a solution unlike George Bush.