Wednesday, February 11, 2009

Geithner: Too Many Zeroes

A better idea than the Tim Geithner plan to lend trillions to the financial sector would be to make the financiers pay. I mean, really pay. From  their banks, their companies and their pockets. For once.

The very same bank that on this very day would charge you more than 5% interest on a 30-year fixed rate mortgage for a home (assuming you offer your first-born child as collateral) can borrow the money from the Federal Reserve -- that's you and me -- for 0.5%. You knew that, right?

They've been making a killing all our lives off our tax money.

So why not sell their houses, cars, offices, fancy office furniture and office bars, yachts and jets,  golf courses, the jewelry they've given their wives and mistresses, and so on and on and on? Then, why not throw them in jail and toss the key when it turns out that selling everything is not nearly enough to repay us?

After that, let's nationalize the business of lending and borrowing and never let any financial shark play with our money ever again.
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