Quote:
Originally Posted by Zarathustra
"Summary: the panic of Paulson, Bernanke, Bush, Cheney is because their crimes are close to being exposed. Those congressmen who have been bribed to ignore these crimes are also in a panic."
Steve,
What I don't yet understand, and perhaps I'm overlooking the obvious, is how this bailout package will help to hide such crimes. Any thoughts?
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The bailout money could go on the books to shore up the minimum level to appear like the banks are trying to comply with Basel II.
A trade of bad paper for cash would meet the minimum requirement test. Also, eat up the smaller banks, put their deposits on the books to show more assets.