part 3

5. TARP costs 200 bil. less (probably) because the agenda was changed - TARP was created to buy toxic assets Mr President - now the FED and FHA buys all the toxic stuff and hides the losses. Alone in the purchase program for regular Treasuries has created losses of aprox. 50 bil in real terms its much more and the FHA buys a lot of that toxic stuff and their losses have reached the 250 bil level still counting. The losses the MBS buying program creates for the FED will be very painful and creates great exit opportunities for banks at artifical high prices.

Watch Ms Whitney for some reality check of the general situation in the USA consumer situation which is 70% of the economy.