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by Howard Bell, Your Property Path.com

Well, few are actually convinced this plan will even pull us out. Personally, I think this is just the prologue to the big event. The Obama team will peer into the banks’ books under the “stress test” mechanism to determine which banks could survive with help and which ones should be let go without taxpayer money.

This is the psychological set up that will allow the Govt to declare the problem is worse than thought. I’m sure we will see a replay of that great film Casablanca, where Claude Rains shuts down Rick’s cafe. “I’m shocked, shocked to find that gambling is going on in here…..”

We have spent trillions to prop up the financial system and still it’s a black hole. I think everybody knows that the banks are insolvent. My guess is that we will find trillions more in bad debt or debt that cannot be evaluated.

Once this is out and the damage revealed, the rest of the plan to save the world will be unveiled to a public that is willing to go the distance….this is gonna cost….

Howard Bell PFP CCRM is the founder/editor of Your Property Path.com, featuring over 450 articles on property management, Your Property Path SF, trade talk for the San Francisco real estate industry, and Your Property Path Amazon Store. Howard is a property manager in San Francisco and holds a certification in financial planning.

See Howard Bell’s feature, Is is a Bailout or Bail?

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  • Tom Smith

    …..THE PLAN TO SAVE THE WORLD. With WHAT, Socialism? How about we take care of about 320,000,000 Americans who are loosing their a– financially. Obama, and the Congress, STOP trying to fix things by nationalizing everything. It will not work. Let the free market work. Just do a much better job of overseeing, and by the way, put some of the crooks in jail.

  • Mandi

    For politicians it is about control and it is no different with the Obama administration. History has shown us that govt will take advantage of every opportunity to gain more control at the cost of our liberty. Examples, creation of the Federal Reserve in 1913, Espionage Act and Sedition Act of 1917-1918, 911- Patriot Act 2001, and what we are seeing now with the govt starting bank takeovers. Our leaders can only go as far as we as Americans will let them. Let your voices be heard.

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