Just in case we have forgotten.....
There was no infrastructure left in Iraq after the intense U.S. bombing.  No one could "wire" money and there weren't any bank employees waiting to be of service in the darkness while the bombs were falling.  I understand why this happened. What I don't understand is why the cash was dispersed in the manner that it was.  My point is that billions upon billions of taxpayer dollars are thrown in the trash with no economic benefit to the U.S. taxpayers.  Refresh your memory with the following article and stay tuned for more examples of U.S. government "efficiency." http://www.guardian.

Fannie Mae needs $15 billion....This is a joke, right?
What an outstanding investment by the U.S. taxpayers!  "Our" finance company needs another $15 billion dollars in order to stay in business.  To add insult to injury, Fannie Mae's management team offered the following gem:  "We do not expect to operate profitably in the foreseeable future."  Meanwhile, the largest U.S. commercial banks are posting record profits. If Fannie Mae went to any one of the largest U.S. commercial banks right now and and asked for a loan, it would be summarily declined.  Private equity groups would decline to make an equity investment because there is no clearly outlined path for an exit strategy in three years.  Plus, I f

The Enemy Within....has revealed himself!
Representative Mel Watt from North Carolina  is a member of the House Financial Services Committee and chairman of the panel’s domestic monetary policy and technology subcommittee.  Mr. Watt just ripped the guts out of the proposed HR 1207 legislation to audit The Federal Reserve Bank.  35% of Mr. Watt's campaign contributions come from the financial sector.  Hmmm!  I guess the Fed really doesn't want to be audited, does it? I figured I would do some math on this one.  HR 1207 currently has 307 co-sponsors (Democrats and Republicans) in the House of Representatives.  435 seats in the House with 256 Democrats, 178 Republicans, and 1 seat empt

Another EXPLOSIVE article from Rolling Stone Magazine
Congratulations to Matt Taibbi for having the guts to publish this article.  If you are investing your hard-earned money in the stock market, this article is a must-read for you. http://www.rollingstone.com/politics/story/30481512/wall_streets_naked_swindle

FDIC to back $2.9 billion GMAC Loan
It can't get any worse, can it?  The FDIC (of all people) is guaranteeing a new $2.9 billion loan for GMAC.  The rationale is that GMAC would have to reduce its lending volume if it is unable to raise the money.  This decision left me scratching my head again. The U.S. government continues to throw good money after bad:  in the form of continued questionable investments on behalf of the U.S. taxpayer.  GMAC is considered "under-capitalized" by the U.S. government according to the government-mandated "stress tests."   There is no guarantee that the new capital will enable GMAC to return to profitability.  It makes no business sense to cont