"TRANSFER OF WEALTH FROM TAXPAYERS TO BANKS"

http://finance.yahoo.com/tech-ticker/article/244222/%22The-Greatest-Boondoggle-in-History%22-Banks-Buoyed-at-Taxpayers

BEND OVER AMERICA

While much of the focus is on the stress tests and banks' efforts to raise cash, the real story is Geithner's Public-Private Investment Program (PPIP), says William Black, an Associate Professor of Economics and Law at the University of Missouri - Kansas City.

The PPIP is the "greatest boondoggle in the history of the world," says Black, a former bank regulator who was counsel to the Federal Home Loan Bank Board during the S&L crisis. As occurred during the S&L era, Black says the PPIP will allow banks to exchange "trash for cash" and turn "real losses into faulty gains."

If the goal of Tim Geithner and other regulators was "to rip off the American taxpayer for the benefit of the least-deserving wealthiest people you can imagine, well - mission accomplished," Black says.


If can't beat them join them?

D