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Banks Come Back For Another Bailout in Ireland While the US 'Manages Perceptions'

By Implode-Explode Heavy Industries

"The US is an accounting mirage. The notion that it will make money from its stake in Citi is a sleight of hand. The enormous subsidies to the banks both in terms of direct payments, indirect payments through entities like AIG, and subsidies such as the erosion of the currency and the deterioration of the real economy, will never be repaid."

Full post as published by Mortgage Lender Implode-o-Meter on March 30, 2010 (boomark / email).