But we’ll be fleeced for every cent we have to help out these poor banksters in need.

All they’d have to do is to write back the bets/debts.

Sure, at some point, someone would lose the bet, but it wouldn’t be any where near the 500 trillion dollar level.

http://firedoglake.com/2009/03/25/the-geithner-plans-unpleasant-consequences/

Dodd’s wife a former director of Bermuda-based IPC Holdings, an AIG controlled company

No wonder Senator Christopher Dodd (D-Conn) went wobbly last week when asked about his February amendment ratifying hundreds of millions of dollars in bonuses to executives at insurance giant AIG. Dodd has been one of the company’s favorite recipients of campaign contributions. But it turns out that Senator Dodd’s wife has also benefited from past connections to AIG as well.

etc.

http://www.realclearpolitics.com/articles/2009/03/dodds_wife_a_former_director_o.html

Still a little confused about the nature of these non contract contracts, or whatever the hell they are. In any case there seems to be an urgent need to keep them perpetually undisclosed. I was reading my favorite intelligence porn, Global Analysis, and he says the primary motivation behind these bailouts is to avoid bankruptcy because that would involve appointing a trustee. Because a bankruptcy trustee has unlimited powers to investigate everything. In AIG’s case, for instance, the 728++ offshore ’subsidiaries’ that are actually holding accounts in the name of the bush/clinton crime cartel. So long story short, they’re screwing us all to cover their own asses and keep all the little buckets of money with their names on them secret.

If I understand it correctly, and I’m not sure I do, but it makes sense to me that the reasons behind all this are thoroughly vile.

http://www.worldreports.org/news/203_wheels_coming_off_white_house_corruption_engine

The place to look for the next bubble might be commodities again. Banks have all this money, do they want to lend more to us? Didn’t think so. Commodities has enough free volume to suck the stimulus inside and make a nice speculative bubble. And yes I did sleep inside a trading booth suspended above the exchange for half a year to understand this shit.

Which brings back to your last question, great post here btw. No one in political power understands the casino enough to say Null and Void. And to malcontent’s point, there are NO CONTRACTS to look at, no trading post book to examine.