Today in some of the comments out of retailers like burlington, anf, dollar tree, and Dollar General yes, if you look at the Dollar General, the numbers are just extraordinary i actually have never seen a Comp Store Sales number this good 21 versus 7 estimate. Dollar tree is going to be the one, david knows this well, people look like, you know what, now the dollar tree Family Dollar merger which had been so on the rocks, the judgment is its working and that stock could power much higher. Dollar tree. The opening trade is sapping the money out of tech. I dont know how much longer it can last thats such a great book in gary because he knows so much about what people are spending theyre essential because they have food, and i look at this market and i think how long with the dow up 4 can we actually say, hey, the reopening trade is just starting . Its already maybe too far too fast its very hard to figure, particularly because faang is being distorted by the president s tweets, facebook
the truth is, as you say it, plus a huge element. and that element is being made worse in this bill. and that is, we are lying about the numbers. more from sprecisely, the banks lobbied. bernanke gave the wink in support to cut the accounting rules. you have pure gimmicks to hide losses. if we didn t do that, none of this money could have been repaid under t.a.r.p. the only reason it was repaid so they could get paid the massive corporate bo nuss. it s a bad thing they ve repaid the t.a.r.p. money. not a good thing. the real subsidies are elsewhere. the insolvency is throughout the major part of the financial system. mr. black, i hope you can join us more often than not. there s not a lot of venues in the mainstream media that view
market doesn t require any money be posted and is not traded in public. they struck mention of that bank scamer hideout and taxpayer sucker case, freddie and fannie. fannie mae and freddie mac may be on the hook to us for about a trillion dollars. the banks actually own a lot of the fannie and freddie debt that we re riding on. a couple politicians had the idea to make them lick we did or be suggest to the liquidation requirements of our banking system. if you do that it forces the banks to be honest about the fact that they are lying about the accounting value of their balance sheets. they have been enabled by tim geithner s stress test to misrepresent the actual value of their assets. the value of the houses that they own, the value of the bonds that they own, and as they misrepresent that, then they leverage that up and trade it. and then pay themselves a lot of money. how are they able to misrepresent the value of what they own? part of it is through this freddie and fann