The Fed and the Treasury bailed out the large banks last year to the tune of several Trillion dollars.  The banks and their minions went from zeros to heros in about 6 months time.   Strangely, the banks haven’t increased their lending.  In fact, they’ve done the exact opposite by squeezing borrowers with new and improved credit card rates up to 29.99%.

So where did all that bailout money go? Judging by some of the banks’ quarterly reports, mostly prop trading and speculation since that’s the only place they can make a buck.

Want to know why oil is pushing $80+ with no end-user demand in sight and storage facilities at max capacity? Taxpayer-backed Speculators masquerading as Investment Banks.

Bernanke says that we need to save more to fix the global imbalance.

‘Admittedly, just as increasing private saving in the United States is challenging, promoting consumption in a high-saving country is not necessarily straightforward,’ Bernanke said.

If everything is so flippin’ hunky-dory, suck some liquidity out of the system and start paying savers SOMETHING instead of ripping them off to bail-out the losers!

Paying 1.2% and Charging 29.99% ???

Remind me again why they got bailed out?  Was it so they could run around and gouge their customers?  Or maybe so they could threaten and extort more cheap capital from the captured Washington geniuses?

Sometimes I feel like I’m in the Twilight Zone and I’ve woken up to find the world has gone mad, but everyone is treating me like I’m the crazy one.  I guess it’s ok because in the end, Washington will reap what its sown when they realize they’ve gone and re-empowered the psychopaths on Wall St.  Basically guarantees we get a W-shaped recession.