The U.S. banking industry is now acknowledging that, for all intents and purposes, they're massively gutting the consumer credit marketplace--making it virtually impossible for at least 2/3 of the population to obtain credit, at all. Meanwhile, efforts--planned and in place--to return credit liquidity to the public domain are being compared to pouring water into a bucket with a hole in the bottom.

Very simply, banks are not cooperating--and they have no intention of cooperatiing either--with the government's plans; yet the government wants to give them (and a totally unregulated "shadow banking system") trillions more in coming days?

It's all right here: "Card Issuers Choke Firms With Rate Hikes, Limit Cuts."

There's more...

The true extent of the status quo's looting of U.S. taxpayers is about to be spelled out to the general public in black and white this week.  See: "Fed Program to Spur Loans May Start With Few Deals."

Over the next few days, this is all going to get very, very clear...at least to anyone that bothers to pay attention.

The Treasury Department and the Federal Reserve are "about to announce" (they've been talking about this for many months) a massive Wall Street "bad bank" plan that is, effectively, nothing more than a recycled, $2 trillion-plus, Bush administration taxpayer giveaway to the very entities and individuals that created our economic freak show in the first place. (And, we may have reached a tipping point where even the MSM may no longer be mincing words about these truths.) They are still spinning this like it's new information when little could be farther from the truth. See: "Geithner Says He'll Soon Offer Details on Toxic-Asset Cleanup."

There's more...