A TAXPAYERS'S CRAP SANDWICH

Tim Geithner is expected to announce today the Obama administration's Taxpayer's crap sandwich where we will taxpayers be buying up the "bad assets" aka failed sub prime loans that the banks gave out because of their greed and activist's groups like ACORN pushed because of their social agenda. Of course President Obama did not mention the latter part of the problem on his 60 minutes appearance last night.

THE TARP PLAN ILLUSTRATED

They say one picture is worth a thousand words. It takes a few more to illustrate the Toxic Asset Reduction Plan or as I call it the Turd Asset Reduction Plan:
The TARP, in Pictures

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The TARP plan was always a turd

I guess the good news for us hard working middle class U.S. taxpayers who pay our bills and debts is that Henry Paulson and the Treasury Department are no longer going to be buying the sub prime crap loans under the Toxic Asset Reduction Program. Which in my book should have been called TURD loans because that is what they are. The idea of using our good tax dollars to buy crap loans from the banks who gave them out does not sit well with this and many other taxpayers. I think Hockeymike 374 speaks for many of us taxpayers:


"How can people be so stupid. Does anyone in congress understand that if you reward irresponsible behavior you will get more of it? I feel like an idiot for paying my bills and living within my means. I would say write your representatives but the last time we did that we were punished by making a 700B dollar bill an 850B dollar bill. This is beyond outrageous. The worst part is this will do nothing to solve the problem. NO more bailouts for corporations or the greedy and irresponsible people who bought homes they could never afford."

Sounds like good advice.