The FDIC and Fed are leveraging up everyday...taking more and more risks for the bankers. This isn't actually printing money until they recognize the losses....that's the magic question....when will they come clean and what may force their hand? My guess is Congress says enough already. Thoughts?
"Trillions of dollars have been created to prop up the financial system. Almost all of this money has gone to the banks and financial institutions. A very small percentage has gone to industry. But the consumer who is the main victim of the crisis is getting no benefit at all. Instead the consumer will be progressively worse off as the crisis unfolds. Many will be unemployed. In July there were 126,000 bankruptcy filings in the US, up 34% from a year earlier. In the US the real unemployment today is 20%. or 30 million people. With dependents it means that around 100 million people, or 1/3 of the population, are affected by unemployment already. This number is likely to grow dramatically. In the UK official unemployment is 2.4 million or 6.5%. But real unemployment including benefit seekers is 6.4 million or 17%. This means that including dependants circa 20 million people or 1/3 of the population are affected by unemployment today also in the UK."