The Real Obama Plan.

A lot has been said about how the Obama administration has handled the Credit Crisis.

We all know he is not responsible for the creation of the problem, but lets get one thing straight, all other problems that arise from this particular "Roll In The Hay" lies directly on the shoulders of Barack Obama. We can no longer blame Bush, Paulson, Greenspan, and even Milton Friedman for what caused the great credit implosion. Obama simply cant escape the collateral damage that his administration has orchestrated. The dual incompetence machine of Bernanke/Geithner may not yet sink Obama and the Dems in the Mid-Term Elections or even the 2012 elections, but his legacy will be badly damaged if the credit system goes south ( Very Likely) again.

My reasoning is basic:

There is nothing that can be done at this point to prevent the Obama Administration from leeching every last dollar out of its taxpayer base to benefit the terminally addicted and zombied banking system.
They will do what ever is necessary even go to the extend to completely wreck the Treasury, FDIC, FRB, Dollar, Treasury Mkt, and the Tax Payer, so that Goldman/JP/MS/BAC can pay out record bonus amounts to the ones that put the system in peril in the first place.

Using an eloquent tone to bring out half truths and flat out lies, the administration's great charade will only end once there are no more gullible taxpayers to provide their cash, no more demagogue senators and congressmen who will bend reality to make it seem that their actions benefiting a select few are for the benefit of all, and no more naive investors who buy into the promises that U.S. debt is the "safest investment." It will only be a charade until the punch line is given.

In the grand scheme of things, at this point it doesn't really matter, at best any current and future Administrative action buys the U.S. financial system a year or so at best. Like I said, these guys have spend trillions trying to keep the busted credit system not to melt down, TRILLIONS! Keep the Great Charade going, keep equity prices higher, come out with useless credit card regulations that actually hinder and hurt Americans, so that Americans "think" that things are getting better, so they can vote DEM in the Mid term Elections. (Disclosure- I am a registered Democrat).

All this does is just delay the inevitable moment when the Drug Addicted Banks seek help from the Methadone (US TAXPAYER) Clinic only to find out there is no more methadone, as the methadone is tapped out. But then again...its availability would imply someone actually believes U.S. Banks will, at some point, get to a point where detox/rehab is even a remote possibility which is obviously not the case at the moment.

So the plan currently is business as usual. Less Transparency. Do what ever it takes so that Blankfein, Dimon, and Ken Lewis can buy that Irish Castle that their wives so desperately want and need.

In the meantime...we all can wait...wait...wait...for the unimaginable to happen.

When Obama and the boys realize that the wisest,correct and most ethical thing to do, is to use the cold turkey approach on U.S. Financials.