http://www.russiatoday.com/business/news/31264
Wildly over valued
Assets dead on play
So they pass them off
Without a cough
So the American people have to pay
A buy in from the outside
Not our bill I'd say
But Hank's resort
Makes them our to have to pay
Coz the banks don't trust each other
Or they lied about the values aye
The better informed congressmen have lines of communication to the Chinese & Japanese and know they can't sell it.
Bush in Tuesday's speech insisted the toxic assets could, if held for some years, be sold at a profit.
That's plain rubbish. If that was the case, there would be no need for a bailout. Banks could just sit on their assets until they recover in value. The problem is, they were so wildly overvalued, they are not going to recover in value.
How were they so wildly overvalued. You won't read it in the FT or hear it on the BBC but clearly the answer is lies and fraud.
