Two weeks ago, Fannie Mae reported a $25.2 billion loss for Q4 2008 and requested another $15.2 billion in taxpayer funds.
One week ago, AIG reported a $61.7 billion loss and received another $30 billion in bail-out money.
Tonight, Freddie Mac reported a $23.9 billion dollar loss and requested another $30.8 billion.
Finally, the Secretary of Tax Evasion is about to unveil his plan for giving hundreds of billions of dollars to bankers without making it too obvious. Repeat after me: Non-recourse loan = subsidy.
So if you work for a living — and not at high levels of government, so that you actually pay taxes — then this is what you are working for. I am thinking maybe I should quit my job and just place my entire net worth in XLF call options.
A couple of random links:
Music video: Zombie bank
Humor: Star Wars Yoga (Note: When trying to locate this site, do not accidentally search for “Jedi Yoga”. You have been warned.)
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