Imagine making the following statement to your banker after receiving a hefty loan, or to your IRS agent during an audit:
"We're choosing not to disclose that."
"The money can't be tracked," or "We're not providing dollar-in, dollar-out tracking."
"We are going to decline to comment."
"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it."
These are statements that bank representatives made to Matt Apuzzo, an AP press writer, in Where Did the Bailout Money Go? Ssssh. It's a Secret.
WHAT COLLOSSAL NERVE. It's my money, you neo-criminals. Actually, it's OUR TAXPAYER money, not yours. You'd foreclose my grandmother's house faster than an eye can blink, and now you want to drag your heels in telling us how you are using the bailout money that helped to keep you afloat.
Bah humbug. If I could live without banks, I would. The idea of paying their exorbitant near-usurers' fees to handle my hard-earned money has teed me off for years. Now, knowing how poorly they've handled my finances, which skirts criminality, the thought of these institutions even touching my savings, pension, and checking accounts makes me physically sick. I am so fiscally responsible that I have no debts, not even on a credit card, my car, or my house, and have watched the mortgage debacle unfold over recent years in horror. Question: What idiot loans $100,000 without requesting a down payment or collatoral, or receiving assurances that a repayment can be made? Answer: A bank. Now that they have our money - again - they're smiling at us like Chesire cats, daring us to guess what they're doing with our dough.
Do you trust them? I don't.
I hope on a personal level that these overpaid, underperforming executives placed their bonuses in Madoff's funds. Now that would be justice. As for me - their nose-in-the-air attitude is the last straw for me. I am consolidating all my finances and will hide my stash under a mattress. It has a chance of being as safe there as in a bank, brokerage firm, or pension fund.