Dr. Housing Bubble 04/07/09

[Crewleader]

More Bad News about the Public-Private Investment Program: Because Stealing 93 Percent of Taxpayer Money is OK. Fraudulent Minds already gearing up to Scam the System.

We barely knew you PPIP. It is amazing how little airtime the Geithner monstrosity, otherwise known as the Public-Private Investment Program (PPIP) is being talked about in the mainstream media. You would think that a plan with a low range price tag of $500 billion and a final bill that will most likely reach $1 trillion would garner a little more attention. Yet it hasn’t. As more and more people pour over the plan, it is becoming painfully obvious that it is an ill-advised program that tilts the scales heavily in the favor of banks and Wall Street. The PPIP is the ultimate taxpayer soufflé served on a silver platter to the banking system, which coincidently is the same banking system that brought us to the brink of depression. The plan is a farce. The U.S. Treasury had to concoct an elaborate plan because creating a plan called, “Toxic asset enema to taxpayers” just didn’t have the nice Orwellian ring of legacy assets. Calling these things “assets” is like calling a Ford Pinto a vintage automobile.

As more time passes by, the line of people calling this an utter waste of taxpayer money grows. Stripping away the legalese gold gift-wrap of the plan, what this program boils down to is a bait and switch to the American taxpayer. It has all the drama of kabuki theatre but once the fog disappears, what we are left with is a shifting of toxic assets to the American public. Let us draw a diagram and then explain:



So how do we go about setting this up?

http://www.doctorhousingbubble.com/more-bad-news-about-the-public-private-investment-program-because-stealing-93-percent-of-taxpayer-money-is-ok-fraudulent-minds-already-gearing-up-to-scam-the-system/