Proof that Geithner's Bank Plan Is a Massive Giveaway to the Bastards Who Started This Mess | WHAT REALLY HAPPENED

Proof that Geithner's Bank Plan Is a Massive Giveaway to the Bastards Who Started This Mess

Recall the Geithner Bank Plan in a nutshell: private investors will partner with the government to buy those "toxic" assets off of struggling "zombie banks." The buyers would put about 7 percent of the purchase price down, and the Treasury Department would match that with another 7 or so percent. Then the FDIC would offer government-backed loans for the remainder.

If the assets were to recover their value and turn a profit down the road, the investors would split the profits with the government. But if they don't -- if their values continue to tank, and it's entirely likely many will -- then you and I and everyone else we know who pays taxes will be on the hook for the lion's share of the losses.

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And because of the loosening of the mark-to-market restrictions, the banks can revalue the assets upward, GUARANTEEING that they will never sell at a profit.

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