This doesn’t even take into account the Federal Reserve and the seemingly worthless paper it owns after trading liquid assets for worthless bank assets in order to shore up the system. And it also doesn’t take into account the commercial loans out there which are going to come back to haunt the banks which are so vulnerable in this regard too. 

Almost every mistake by the Obama administration and the Federal Reserve has been made while attempting to keep some short term pain from happening because of the many government and banking mistakes that have led us to where we are now. Other than changing interest rates and continuing to print more money, we’re pretty much at the end of what can be done without completely destroying the American economy.

No amount of rhetoric or ongoing assertions by the U.S. government will be able to cover up the disaster they’ve created on the American people, and by extension – the world. All we can do now is sit back and continue to save up, pay down our debts, and hope no other stupid politician tries to save us, while with their unintended consequences, end up hurting us more.