FYI on the "private investor" help

Just a note, so everyone knows, the media keeps touting that the taxpayers will get some help from private investors as the gov't redirects up to $1,000,000,000,000 of your tax dollarsinto an investment in the bad loans the banksgranted since the 90s.


The breakdown is this: 7% from private investors (proposed, but I haven't seen that anyone stepping up to take this risk), 7% from our tax dollars, and 86% as a loan from the Fed.


So the private investor help is minimal. 93% of it is going to be from your tax money, past-present-future.


We're spreading the debt, not the wealth, which was the campaign battle cry last fall.


We are ALL investing in bad debts incurred by a small number of people in isolated areas of the US, namely the NE and W coasts.


We're investing in debts that have already failed, and can no longer be sold to private investors.


We're investing in it whether you like it or not. Nobody in the business world will willingly assume this debt, so it's being forced upon the US taxpayers. Payments start in 2011, and the more you earn, the more you'll pay.


I also see wording like, "The investors and taxpayers will share the rewards of this investment, and the investors and government will share the risks."


Remember that government = taxpayers. Remember that past "rewards" resulted in record losses.


Anyway, just wanted to clarify this. They're hyping up the "private investor" thing, but it's a small portion of the help, and nobody in the private sector isjumping on this bad investment.


Mostly, we're asking the Fed to absorb and prolong the housing bubble for another few years, till it bursts for really-real and nobody can bail it out. We're force-feeding the debt to the taxpayers, and robbing our savings account (the Fed).


Irronically, we'll burden the successful Americans more than we burden the failures! Yes, wewill takemoney from people who made wise and smart investments, and who continue to prosper even in today's market, andpay off debts for folks who made unwise andfailed investments.


Spreading the debt. Punishing success and rewarding failure.


Anyway. You're welcome, I guess. I'll do my best to keep my job and prosper in this economy, so I can pay off your bad debt.


Can we go on a tax strike, like the unions do?


- Saul

On this note, I found out that my next local Tea Party demonstration is on April 15, tax day.


I'll be there.

I wish there was one in my town.

Why don't you organize one?