Morgan Stanley & Goldman Sachs Now Retail Banks..Look Out!

Ladies and Gentlemen, bear witness to your country being sold right out from underneath you while you were sleeping….Again! In yet another middle of the night meeting, the Federal Reserve has approved Morgan Stanley and Goldman Sachs requests to become bank holding companies, in other words, retail banks.

With the full faith and credit of the United States of America, another private sector organization is provided with the ability to spread risk socially while protecting profits privately. In other words, you and I are going to get left holding the bag for all the junk, and these two (along with the others) are going to be handed billions in profits in currently under-performing assets as well as the assets to smaller banks that will be failing in the near future. And there will be many, many, many regional bank failures in the near future.

So the hits just keep on coming…

This deal by the Fed will be presented to an unsuspecting public as the lifeline each of these firms needed to make it another day. For without this reclassification they would surely die. In reality, the Fed is creating a dumping ground for the billions in underperforming assets that the Fed will soon be taking control of.

Once these assets are turned around, the government will be paid back whatever is owed them, while any profits (and there will be huge, giant, hairy profits) in the years to come will be kept by these very firms that you and I provided the lifeline for during emergency resuscitation.

CLEAR!!

But, will your credit card bills go down? No. Will your mortgage payments go down? No. Will you even get a friggin’ thank you card for the $4,000 interest free loan you kicked in to help save these useless organizations? No.

But look at it this way boys and girls, you have witnessed the single largest loss of wealth in world history…go back and ready that again, that is staggering to think about!