Tea Parties: Whats really going on?

[Viper1]

HappySqurriel said:

Sqrl said:

akuma587 said:

Many of them were just in a temporary rough spot. Some of the banks that people were saying "needed to fail" have posted a profit this quarter.

I imagine it must be pretty easy to post a profit when you get a big fat check from the Government...

 

 

Not to mention that the Banks weren't going out of business because of lack of profits ...

What (some) people don't seem to understand is that the Banks that needed to fail is that these banks balance sheets are (essentially) like a speculator who bought a home for $100,000, put $200,000 of work into the home, and when the home didn't sell at his $1,000,000 asking price he wrote down the value of the home to $500,000 because "it has to be worth that much" ... This speculator may still have a job, and be earning $4,000 per month, but he owns a second home that has $300,000 worth in debt associated with it and is probably worth (less than) $100,000.

And for some stupid reason the government wants this kind of action to continue.