<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/4211b3fe-ea4b-430c-b65d-cabac5f889b0/6FCE4FDB-9CCC-4E55-97D2-8C1896432F0C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5319359/Geithner-enriches-speculators-in-sham-bank-bail-outs.html" href="http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5319359/Geithner-enriches-speculators-in-sham-bank-bail-outs.html" style="font-size: 11px;">www.telegraph.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5319359/Geithner-enriches-speculators-in-sham-bank-bail-outs.html">The US Treasury’s effort to stabilise the banking system through the TARP programme is a hopelessly ill-conceived policy that enriches speculators at public expense, according to the buy-out firm supposed to be pioneering the joint public-private bank rescues. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5319359/Geithner-enriches-speculators-in-sham-bank-bail-outs.html"><P aria-level="0" aria-posinset="0" aria-setsize="0">The comments are likely to infuriate Tim Geithner, the US Treasury Secretary, because MatlinPatterson took advantage of the TARP’s matching funds to buy Flagstar Bancorp in Michigan. His confession appears to validate concerns that the bail-out strategy is geared towards Wall Street. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5319359/Geithner-enriches-speculators-in-sham-bank-bail-outs.html"><P aria-level="0" aria-posinset="0" aria-setsize="0">Mr Patterson said the US Treasury is out of its depth and seems to be trying to put off drastic action by pretending that the banking system is still viable. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5319359/Geithner-enriches-speculators-in-sham-bank-bail-outs.html">“It’s a sham. The banks are insolvent. The US government is trying to sedate the public </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5319359/Geithner-enriches-speculators-in-sham-bank-bail-outs.html">The US government has thrown 29pc of GDP at this crisis compared to 8pc in the early 1930s.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5319359/Geithner-enriches-speculators-in-sham-bank-bail-outs.html"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/www.telegraph.co.uk/img/8AC92CAD-147B-49EF-A663-7A0D66BC6CF3" alt="MatlinPatterson took advantage of Tim Geithner's TARP matching funds to buy Flagstar Bancorp in Michigan - he now owns 80pc of the shares and the US government under 10pc." /></div></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/6FCE4FDB-9CCC-4E55-97D2-8C1896432F0C/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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