I can see that your ability to read is equal to your educational level. I you do indeed have any experts you can rely on, call them and ask about the deal Henry made for Wells Fargo. Perhaps you could ask them to explain why Wells Fargo just beat out Citigroup to take over Wachovia, the banking giant.

Ask them why Citi was willing to pay about $2 billion for Wachovia… and then Wells stepped in and offered an astounding $14 billion.
That’s 7 times what Citi was willing to pay. Then when your experts ( just maybe they might know) tell you that does not make sense because Wachovia has over $312 billion of ass-whipe shitty mortgages, then they might tell you about the secret deal that was made.
For all you wonderful experts out there, it went down like this.



Wells agreed to pay so much more than Citi because Wells got a big fat gift from the U.S. Treasury. The gift was a one-sentence ruling issued on September 30.
In it, Treasury effectively allowed Wells to be able to write off ALL the losses on acquired portfolios. I know, I know none of you believe this.



But this info comes direct from inside the Washington circle of influential friends, of which none are mine.

Here is how it was done.


According to U.S. Tax Code, Wells should have only been able to deduct part of any losses, and only over 20 years. Now, Wells says it expects $75 billion in losses from Wachovia’s portfolio – but they can write that all off and expect a tax savings of more than $19 billion.


Do the math! That’s $5 billion more than the $14 billion they are paying – thanks to Hank Paulson’s “secret” ruling!



And here is the fallout of such underhanded bull-shit skull-duggery by these thieves in power.

• First, when a loss that big hits the books shareholders are going to be running for the hills, selling at any price they can get.
• Second, Treasury has just trashed the U.S. tax code. It has no authority to make such a dramatic deal. So what will happen when this news gets out

Go and ask your EXPERTS my learned friend. And one more thing to all of you USA Expats. I am not jumping on any of you or the old USA, I am just reporting the facts as they come up. Pehaps I read too much.
For the one who asked how I helped the little guy. I spent 30 years in Canada doing just that, putting my head on the block representing trade unionists who found themselves threatened by some stupid management personnel.
The American government is no different than Canada's or Argentina, they only tell you what they want you to hear. Thank God, that time has finally caught up to them and the American little guy is not going to take it anymore. I pray that Mr. Obama will not fall into that same trap that Bush and a few other presidents have done.
I hope you will contact your experts and let all of us know what they said.

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