Yes, ladies and gentlemen its official, the banks stole your money. They are all now admitting that when they made bad trades they simply moved them off the books at the end of each quarter so that they reported positive earnings. These positive earnings helped to raise share prices, which allowed them to repay the TARP funds. You remember TARP right. It was the bank bailout that was supposed to buy the toxic mortgage assets. But after the bill passed the banks changed their minds and kept the assets as well as our money. These toxic assets are continueing to increase because of high employment which result in the default on mortgages. We are on pace this year to reach 1 million homes in foreclusre. By the way that financial regualtory reform bill that the Democrats are touting as the solution to all our problems on Wall Street was written by Wall Street so who do you think it really protects us or them.
Deception season on Wall Street David Weidner's Writing on the Wall - MarketWatch
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