mercredi 30 décembre 2009

4 trillions pour la prochaine crise!

Barney Frank, le Président du Financial Service Comitee aux USA, approuve 4 billions de $ (!) pour 'supporter' les banques lors de la prochaine crise financière.

C'est plus du double de ce qui a été 'investi' lors de la crise de 2008-2009!

Les contribuables Américains semblent décidément très généreux avec leurs sous durement gagnés.

Quoi? Ils n'ont pas été consultés? Impossible! Ne serait-ce pas anti-démocratique?

Mike Shedlock rapporte les détails sordides, tirés d'un article de David Reilly pour Bloomberg.

Des extraits pertinents:

For all its heft, the bill doesn’t once mention the words “too-big-to-fail,” the main issue confronting the financial system.

Instead, it supports the biggest banks. It authorizes Federal Reserve banks to provide as much as $4 trillion in emergency funding the next time Wall Street crashes. So much for “no-more-bailouts” talk. That is more than twice what the Fed pumped into markets this time around. The size of the fund makes the bribes in the Senate’s health-care bill look minuscule.

Oh, hold on, the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back.” Too bad the same models used to foresee the housing meltdown probably will be used to predict this likelihood as well.

The bill also allows regulators to “prohibit any incentive-based payment arrangement.” In other words, banker bonuses are still in play.
















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