Close your accoutns at banks that took TARP

[jpinpb]

I have one account at SDCC. I am seriously considering closing the other b/c I’m sure it’s getting TARP.

Have any of you seen/read this:

Listen to interview here Geithner’s bank stress test aka BS test.

“The bank stress tests currently underway are “a complete sham,” says William Black, a former senior bank regulator and S&L prosecutor, and currently an Associate Professor of Economics and Law at the University of Missouri – Kansas City. “It’s a Potemkin model. Built to fool people.” Like many others, Black believes the “worst case scenario” used in the stress test don’t go far enough.

He detailed these and related concerns in a recent interview with Naked Capitalism. But Black, who was counsel to the Federal Home Loan Bank Board during the S&L Crisis, says the program’s failings go way beyond such technical issues. “There is no real purpose [of the stress test] other than to fool us. To make us chumps,” Black says. Noting policymakers have long stated the problem is a lack of confidence, Black says Treasury Secretary Tim Geithner is now essentially saying: “’If we lie and they believe us, all will be well.’ It’s Orwellian.”

The former regulator is extremely critical of Geithner, calling him a “failed regulator” now “adding to failed policy” by not allowing “banks that really need desperately to be closed” to fail. (On Saturday, Geithner said on Face the Nation, if banks need “exceptional assistance” in the future “then we’ll make sure that assistance comes with conditions,” including potentially changing management and the board, but did not say they’d be shut down.)

Black says the stress test must also be viewed in the context of Geithner’s toxic debt plan, which he calls “an enormous taxpayer subsidy for people who caused the problem.” The fact bank stocks have been rising since Geithner unveiled his plan is “bad news for taxpayers,” he says. “It’s the subsidy of all history.”

[Allan from Fallbrook]

Jp: There’s a follow on article in Politico regarding White House ties to the finance and banking community. Black is prominently featured regarding his accusations of cronyism and malfeasance.

Poor Obama. Things looked so rosy just a few months ago.

http://www.politico.com/news/stories/0409/20889.html

[Allan from Fallbrook]

Jp: There’s a follow on article in Politico regarding White House ties to the finance and banking community. Black is prominently featured regarding his accusations of cronyism and malfeasance.

Poor Obama. Things looked so rosy just a few months ago.

http://www.politico.com/news/stories/0409/20889.html

[Allan from Fallbrook]

Jp: There’s a follow on article in Politico regarding White House ties to the finance and banking community. Black is prominently featured regarding his accusations of cronyism and malfeasance.

Poor Obama. Things looked so rosy just a few months ago.

http://www.politico.com/news/stories/0409/20889.html

[Allan from Fallbrook]

Jp: There’s a follow on article in Politico regarding White House ties to the finance and banking community. Black is prominently featured regarding his accusations of cronyism and malfeasance.

Poor Obama. Things looked so rosy just a few months ago.

http://www.politico.com/news/stories/0409/20889.html

[Allan from Fallbrook]

Jp: There’s a follow on article in Politico regarding White House ties to the finance and banking community. Black is prominently featured regarding his accusations of cronyism and malfeasance.

Poor Obama. Things looked so rosy just a few months ago.

http://www.politico.com/news/stories/0409/20889.html

[Allan from Fallbrook]

[quote=flu][quote=Allan from Fallbrook]FLU: Does that make me Prick the Second? I’m figuring Dave will be assuming the role of Senior Prick or Prick the First.[/quote]

You can be Papa Prick 🙂
or Prick from Fallbrook
[/quote

FLU: Is Papa the same thing as Big Daddy? Dude, sorry but I couldn’t resist.

[Allan from Fallbrook]

[quote=flu][quote=Allan from Fallbrook]FLU: Does that make me Prick the Second? I’m figuring Dave will be assuming the role of Senior Prick or Prick the First.[/quote]

You can be Papa Prick 🙂
or Prick from Fallbrook
[/quote

FLU: Is Papa the same thing as Big Daddy? Dude, sorry but I couldn’t resist.

[Allan from Fallbrook]

[quote=flu][quote=Allan from Fallbrook]FLU: Does that make me Prick the Second? I’m figuring Dave will be assuming the role of Senior Prick or Prick the First.[/quote]

You can be Papa Prick 🙂
or Prick from Fallbrook
[/quote

FLU: Is Papa the same thing as Big Daddy? Dude, sorry but I couldn’t resist.

[Allan from Fallbrook]

[quote=flu][quote=Allan from Fallbrook]FLU: Does that make me Prick the Second? I’m figuring Dave will be assuming the role of Senior Prick or Prick the First.[/quote]

You can be Papa Prick 🙂
or Prick from Fallbrook
[/quote

FLU: Is Papa the same thing as Big Daddy? Dude, sorry but I couldn’t resist.

[Allan from Fallbrook]

[quote=flu][quote=Allan from Fallbrook]FLU: Does that make me Prick the Second? I’m figuring Dave will be assuming the role of Senior Prick or Prick the First.[/quote]

You can be Papa Prick 🙂
or Prick from Fallbrook
[/quote

FLU: Is Papa the same thing as Big Daddy? Dude, sorry but I couldn’t resist.

[Coronita]

[quote=Allan from Fallbrook][quote=flu][quote=Allan from Fallbrook]FLU: Does that make me Prick the Second? I’m figuring Dave will be assuming the role of Senior Prick or Prick the First.[/quote]

You can be Papa Prick 🙂
or Prick from Fallbrook
[/quote]

FLU: Is Papa the same thing as Big Daddy? Dude, sorry but I couldn’t resist.
[/quote]

yup.
I think I’m gonna start callin ya Big Daddy fo sure.

[Coronita]

[quote=Allan from Fallbrook][quote=flu][quote=Allan from Fallbrook]FLU: Does that make me Prick the Second? I’m figuring Dave will be assuming the role of Senior Prick or Prick the First.[/quote]

You can be Papa Prick 🙂
or Prick from Fallbrook
[/quote]

FLU: Is Papa the same thing as Big Daddy? Dude, sorry but I couldn’t resist.
[/quote]

yup.
I think I’m gonna start callin ya Big Daddy fo sure.

[Coronita]

[quote=Allan from Fallbrook][quote=flu][quote=Allan from Fallbrook]FLU: Does that make me Prick the Second? I’m figuring Dave will be assuming the role of Senior Prick or Prick the First.[/quote]

You can be Papa Prick 🙂
or Prick from Fallbrook
[/quote]

FLU: Is Papa the same thing as Big Daddy? Dude, sorry but I couldn’t resist.
[/quote]

yup.
I think I’m gonna start callin ya Big Daddy fo sure.

[Coronita]

[quote=Allan from Fallbrook][quote=flu][quote=Allan from Fallbrook]FLU: Does that make me Prick the Second? I’m figuring Dave will be assuming the role of Senior Prick or Prick the First.[/quote]

You can be Papa Prick 🙂
or Prick from Fallbrook
[/quote]

FLU: Is Papa the same thing as Big Daddy? Dude, sorry but I couldn’t resist.
[/quote]

yup.
I think I’m gonna start callin ya Big Daddy fo sure.

[Author]

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