[quote=Allan from Fallbrook]
Rough calculations put the potential cost of fixing this around $20Trn. The USG does not have anywhere near the resources to take that on, hence programs like PPIP that are looking to create monetary velocity and private partnerships and all with the recognition that this problem is too deep and wide to be handled organically. If Obama, Bernanke and the senior Treasury people were to come clean on how big this problem truly is, I think the wheels would come off the wagon in really short order.
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Do you think there is anyone of relevance out there who doesn’t understand the scope of the problem? Jim Rogers has been on Bloomberg TV two dozen times saying that all the banks are insolvent. There are 15 thousand blogs out there that say the same thing. Just today, Zero Hedge came out with an article where Andy Beal predicts that 4,000 banks would be insolvent if they had to mark their book to market.
Do you think there is anyone out there with over $50K invested in the market who doesn’t know this stuff?
The government isn’t talking about what they are doing because it’s easier to loot that way. Madoff got away with running a Ponzi scheme for 25 years and now Geithner, Obama, and the financial oligarchy think they can do the same.
