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Politics : RAMTRONIAN's Cache Inn

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To: Tom Caruthers who wrote (13782)	2/8/2008 12:44:50 AM
From: NightOwl	Read Replies (1) of 14464

Well Mr. Caruthers... In a week will will be very happy... very sad... very confused... or possibly some perverted combination thereof. But if there's another "surprise" rate cut... to go with these new anti recession 70 cent pieces (masquerading as 170B dollars) that Washington is about to hand over to everyone... except the poorest non-voters among us... I'm not at all certain that I'll care anymore. It seems pretty clear that the federal regulator/politicians have agreed upon a game plan whereby the Banks and major brokers of Wall Street will be given until late April, or possibly May, to raise the capital they need to fill the holes left by their sub-prime mortgage fraud. Or to put it another way... all the market's peculiar volatility since December is being driven by a concerted effort to allow the said malefactors a means by which they can acquire a maximum amount of our net worth in the shortest possible time to minimize the effects of their next round of write-offs. In the end they will defend against the inevitable cry for stronger regulation by claiming that their "free market mechanisms" (i.e., criminal churning mechanisms) are solely responsible for resolving the "unfortunate and unforeseen excesses" (a/k/a, fraudulent scam) in the mortgage market. Thereby assuring their vaunted "self regulatory framework" its "rightful" place... next to Mom... apple pie... and the blessed American Way. Anyone with a contrary view will be branded a Libertarian wacko... a BIG government Liberal... or the ignorant pawn of some dictatorial anti "free market" demagogue. We on the other hand... will be left to ponder whether or not we'll be able to maintain our new 1990s Brazilian standard of living. 0\|0

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