Why would Obama allow this fraud?
Posted: Thu Apr 09, 2009 9:21 pm
This guy should be fucking impeached. Right after he fires Geithner. This is like the 17th commentator ripping the PPIP, their championed policy. If they let the banks continue stealing from us, what are we going to do?! Nothing? Really?
Then we deserve the collapse that's coming.
Please note that the article is written by the former head of structured products at UBS.
Why doesn't anyone care that we are being ROBBED by the wealthiest folks and most powerful companies in the world?!
Then we deserve the collapse that's coming.
http://www.realclearmarkets.com/articles/2009/04/game_theory_exposes_ppip_as_fr.htmlThis is a microcosm of what the Public-Private Investment Program (PPIP) is intended to do: create an incentive for investors to pay $90 for a bet that is only worth $50. It is bad economics and bad public policy and it is probably fraudulent. Congress should act pre-emptively to halt Treasury Secretary Tim Geithner’s latest scheme.
Please note that the article is written by the former head of structured products at UBS.
Why doesn't anyone care that we are being ROBBED by the wealthiest folks and most powerful companies in the world?!