Isn't that what the mainstream news and obama keeps telling us. I thought they said BO's boyz Tax Cheat timmy and Bail Out Ben saved us from the brink of destruction. I guess they think no one will ever really read the reports. In this report “The Next Phase of Government Financial Stabilization and Rehabilitation Policies” it seems the Treasury is saying differently. Maybe I just do not understand how things work since I always believed you would be in big trouble (possibly Imprisoned) if you did not pay your taxes but I digress BO's boy Timmy proved me wrong. If you have power and connections I guess that is not true. From the report...
Although we are rolling back emergency support programs that are no longer needed, significant parts of the financial system remain impaired. Unanticipated events could intensify pressure on the financial system. In this context, it is prudent to maintain capacity to address unforeseen developments [i.e. remain on life support] ... (
The normalization of financial markets achieved to date is partial and fragile, and the economic recovery is, at best, in its very early stages. In residential real estate, although the rate of deterioration has slowed, the market has not established a firm bottom ... and foreclosures continue to rise across all classes of mortgages, with prime mortgages now leading the way. The restructuring process for the commercial real estate market has only recently begun. The pace of bank failures has increased and it is expected to remain elevated for some time. However, liquidity-induced failures have steadily decreased given the existence of deposit insurance and the orderly resolution of failed banks. Moreover, the FSP in general and the SCAP in particular were designed to ensure that the financial system as a whole had the capacity to continue to perform its vital functions while dealing with these challenges.
During this difficult period of adjustment, the system could be sensitive to unanticipated market events. Further, in those markets where conditions have improved, it is unclear whether the improvements achieved to date will persist without a period of continued government support.
Read the report at link . What do you think I just do not understand it or is the Treasury admitting there are many problems that lie ahead and they want to continue to suck you dry?
Join us on our
Share this page with your friends
on your favorite social network: