hello cb ilaine, here i was, responding to your note Message 24433888 , and going on about bsc worldmarket.blogspot.com
"I am told that something bad
happened to Bear Stearns, R.I.P.,
and the carcass got taken in and
disposed of by JPM, financed and
underwritten by JPM's controlled
equity subsidiary that is whimsically
named the Federal Reserve (a good
read amazon.com ),
tolerated by all including the
ex-small-town mayors, dallying
governors, and know-not-very much
schoold teachers of Capitol Hill,
and all further losses from the
shady transaction will be socialized
for the account of one Joe6Pack, for
his own good. No, I will not whisper
"Crony Capitalism" and "Centrally
Planned Business" and "American Values";
there will be plenty of delicious time
for that later, as Bear Stearns is just
one of many, just an early and small
incident – a hors d'oeuvre to be
followed by an extended feeding session"
... and there went off hussman hussmanfunds.com , going on and on about the injustice of it all
Rick Santelli of CNBC is exactly right.
If this is how the U.S. government is going
to operate in a democratic, free-market
society, “we might as well put a hammer and
sickle on the flag.” ...The Fed did not act
to save a bank, but to enrich one.
So, perhaps bcs is in play again, and definitively fail ... as counterparty to jpm, requiring the mother of all cleanups of the derivative fallouts.
let's watch and learn ... and, oh, please, pass the drinks.
chugs, tj |
