Feds unveil plan to sop up bad bank assets

Although most of us have nothing to do with these "toxic" assets, we the people will get to clean up the mess. Instead of protecting the honest taxpayer from this, Obama and Democrats in congress are exposing us. Our money is being diluted. These toxic assets are not just worthless, they will continue to cost us for a long time. You see, usually if someone skips out on their mortgage loan obligations, then it's up to the loaning bank to foreclose and sell the asset to make up whatever they can. By buying these mortgages, the US government now has that responsibility. It's going to be a gigantic mess that the politicians will simply ignore, because that's what they do best. These toxic assets are real places amongst us. They will sit empty or even worse, will have no-good-for-nothing squatters move in. They will continue to devalue our neighborhoods for years to come. And we won't be able to do anything because now instead of dealing with a bank, we get to deal with the amorphous federal government. The irony is too thick. We are forced to spend our money on worthless negative value adding assets, and we get rewarded by having our good assets turn into toxic ones just like the ones we were supposed to be bailing out. It's the liberal circle of madness. By the way, oil is starting it's rise again. Just as the dollar is losing value again. Trust me, within a year, we will have double digit inflation. Unemployment will be over 10%. Interest rates will start their rapid climb. Everyone knows the real problem we have is too much credit. So, to fix it they say we need more. Insanity. It will catch up to us, and it's getting very close. Feds unveil plan to sop up bad bank assets: "WASHINGTON – The Obama administration, striving to ease lending in the struggling economy, moved Monday with private investors to sop up bad bank assets. The administration said the program could grow to $1 trillion in purchases eventually, if it proves successful in attacking the bad-books problem that has been at the heart of the banking crisis."