How sure are you, America, that we have avoided economic collapse? Dylan Ratigan discusses bank bail outs that are in excess of $23 Trillion and the problems still facing our economy.
(Video below excerpt and commentary)
The President continues to say in public that banks have almost paid Americans back. That is a lie. The fact is the TARP, which Congress approved, is only 2% of the trillions of dollars in free money being provided to our banks by the Federal Reserve and The Treasury. The American people know this. And yet, the TARP lie continues to be spread by our politicians.
Our problem, Mr. President, is either you don’t understand it, which I doubt – I’m sure you do. You don’t want the American people to understand it, which would be understandable, although I also doubt that. Or, perhaps you’re hoping no one will notice all the other support and the big spending infinity from the Fed will make the whole thing go away.
I’m here to tell you. The problem will not go away until you actually fix it.
This entire exercise is being done right in the open because the powers that be have somehow convinced a majority of Americans that they can and have saved the system. Perhaps even President Obama has been convinced by heads of the Fed, Treasury and his economic advisers that financial meltdown is no longer a threat.