I am still burning through 4 seasons of Frontline (PBS) on Amazon. I
have watched 4 two hour shows on the financial collapse, including the
Brooksley Born show where they burn Clinton's gang of crooks
(Greenspan, Summers, Rubin and Geithner) for firing her because she
tried to warn us of the impending disaster. We were too busy being
distracted by jizz on a dress to notice the real crime going on.
I just finished the 4 hours of recap of the bailouts and effects.
I haven't gotten to the shows where they reassure us all of the $4.5
Trillion we raised for TARP was paid back. I know the banks say they
paid us back. Where did the money go?
We borrowed $4.5 trillion from our kids, loaned it to the banks, the
bank paid us backs. Why didn't we redeem those bonds and pay our kids
back? Instead we just let the Federal Reserve print an extra $4.5
trillion to cover the bonds and presumably we still have to pay them
back some day.
If the banks really paid us back, where did the money go? It certainly
did not show up in the GDP or in the pay checks of the real "middle"
class.