The New York Times on Thursday published a front-page article that provides further insight into the economic and class interests that are being served by the Obama administration’s economic “recovery” policies. It seems that The OBAMA group isn't correcting the problem. America is being LOOTED.  Get cash out of banks, get it into paid up land where you can grow food. There is not another way to be sure of survival. ANY CASH IN ANY BANK can be kept by FDIC for 20 yrs, read the fine print. they have 20 yrs to give it back to you. That is the same as no payback. ANY MONTHLY PAYMENTS that you must make for renting apartments or homes...how can you earn it in a collapsed SOCIETY? PAID UP LAND with housing for your clan, gardens, orchards ..all of it one gas tank from city, or within one gas tank, and off the road so it can't be spotted and pillaged....See:

http://www.masterjules.net/surviveindex.htm

and http://www.masterjules.net/futureindex.htm

The TIMES article is Headlined “Small Investors May Be Enlisted in Bank Bailout,” & outlines discussions between the administration and Wall Street investment firms on structuring the so-called “Public-Private Investment Program” announced last month in a manner that will allow people of modest means to invest in the scheme, whose purpose is to enable the banks to offload their toxic assets at public expense.

     Thursday’s Times article indicates that opening the scheme up to small investors is seen as a way of providing a
      “democratic” gloss to what is, in reality, a brazen plan to plunder the public treasury for the benefit of the very bankers
     and speculators who are responsible for the financial crash. Evidently not seeing a contradiction, the article also makes
     clear that the bailout measures are being drawn up in the closest consultation with the Wall Street insiders who stand to
     profit from them.

     “Some of the biggest investment managers in the United States,” the Times notes, “including BlackRock and PIMCO,
     have been consulting with the government on ways to rebuild the country’s broken financial markets.”

     The article quotes Steven A. Baffico, an executive at BlackRock, as saying, “It’s giving the guy on Main Street an equal
     seat at the table next to the big guys.” This is true only in the sense that “Main Street” will be given the opportunity to
     absorb the bulk of any losses while the “big guys” cream off the best assets and pocket the profits.

     There are political concerns behind this effort to create the appearance of offering the general public a cut in the
     winnings. Hedge fund managers are wary that when, as they anticipate, their partnership with the Treasury, the Federal
     Reserve and the Federal Deposit Insurance Corporation (FDIC) pays off with double-digit profits there will be a public
     outcry, similar to that which erupted over the AIG executive bonuses. This, they fear, might lead to limits on their
     compensation, higher taxes on their fortunes or similar intolerable infringements.

     More important are definite commercial calculations. By opening up the scheme to the broad public, the private firms
     chosen by the Treasury to operate the plan stand to increase greatly their take from investor fees. As the Times puts it,
      “For the investment managers, the benefits are potentially large. These big firms can charge healthy fees to investors for
     taking part.”

     There is one particularly remarkable passage in the Times account. “But the comparison one industry official uses to
     illustrate the mistake that America must avoid,” the newspaper writes, “is the large-scale privatization in Russia in the
     1990s, which involved a transfer of entire industries to a few, well-connected oligarchs. That experience tarnished the
     idea of free-market capitalism in Russia and undermined its program to move toward a market economy.”

     The many differences in political and historical circumstances aside, there is a very real parallel between the plundering of
     Soviet society by the former Stalinist bureaucrats and their domestic gangster and foreign imperialist allies and the current
     manner in which the economic crisis in the US is being seized upon by Wall Street and its political instrument, the Obama
     administration, to further enrich the American financial aristocracy. Indeed, the perpetrators are themselves quite
     conscious that they are engaged in a similar—although much bigger—looting operation.

     The scale and character of the operation are further indicated by another New York Times article published this week.
     This one, authored by Times financial writer Andrew Ross Sorkin and published on Tuesday, concerns the role of the
     FDIC in the new bailout scheme.

     The article begins by noting that the FDIC was established 76 years ago, in the depths of the Great Depression, to
     provide a government guarantee, initially up to $5,000 and now up to $250,000, on the bank deposits of small savers. It
     describes the transformation of the FDIC, under the toxic asset disposal plan of the Obama administration, as follows:

     “It’s going to be insuring 85 percent of the debt, provided by the Treasury, that private investors will use to subsidize
     their acquisition of toxic assets.”

     In other words, the function of the FDIC is being transformed from guaranteeing the bank deposits of small savers to
     guaranteeing the investments of multimillionaire investment fund managers. And, as the article notes, this is occurring
     without a vote by Congress.

     The FDIC will be insuring more than $1 trillion in new obligations incurred as the government covers the bad debts of the
     banks. However, the FDIC’s charter limits the obligations it can take on to $30 billion. The Times article quotes one
      “prominent securities lawyers” as saying, “They may not be breaking the letter of the law, but they’re sure disregarding
     its spirit.”

     How does the government justify this breach? By calculating the obligations which the FDIC is assuming not at their
     monetary value, but at their value as “contingent liabilities.” That is, according to how much the FDIC expects to lose
     from its vast extension of credit to Wall Street firms (in the form of nonrecourse loans, i.e., loans in which the firms put
     up no collateral of their own, but only the supposed value of the toxic assets they are purchasing).

     And what is the sum total of these “contingent liabilities”? Sorkin writes: “’We project no losses,’ Sheila Bair, the
     chairwoman, told me in an interview. Zero? Really? ‘Our accountants have signed off on no net losses,’ she said. (Well,
     that’s one way to stay under the borrowing cap).”

What is the significance of this astonishing reasoning? Simply this: The Obama administration, in order to protect the  wealth and power of the financial elite, is facilitating and directly perpetrating on a colossal scale the same type of  accounting fraud and reckless leveraging that led to the economic catastrophe in the first place.

The administration’s “recovery” plan is a barely disguised scheme to preserve the fortunes of the financial aristocracy, whose interests it represents, by imposing poverty and social misery on the working class. How do we know this? It's Amoeba simple, chum, a total, one-celled answer. CUI BONUM. All the giveaway cash went straight to the banksters who'd lost the cash in the first place, who'd abused the public trust, embezzeled or stolen or bank-rolled themselves, who obviously are NOT team players, who are just greedy pigs and who hired lobbyists to bribe politicos, padded campaign coffers until they and the candidates who lay in them, were coffins for the wealth of the planet.

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Our POSTER is ANITA SANDS HERNANDEZ, Los Angeles Writer, Futurist and Astrologer. Catch up with her websites  TRUTHS GOV WILL HIDE & NEVER TELL YOU, also The  FUTURE, WHAT'S COMIN' AT YA! & HOW TO SURVIVE the COMING GREAT DEPRESSION, and Secrets of Nature, HOLISTIC, AFFORDABLE HEALING. Also HOW TO LIVE on A NICKLE, The FRUGAL PAGE.* Anita is at astrology@earthlink.net ). Get a 15$ natal horoscope "my money/future life" reading now + copy horoscope as a Gif file graphic!

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