The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: GST who wrote (12182)	10/1/2008 9:46:01 PM
From: Real Man	of 71475

Must read Massive Bailout? Hardly, a Massive Tar Pit Instead wallstreetexaminer.com Tar Pit Operation at Work wallstreetexaminer.com The JPM takeout of WAMU is significant and once again illustrates the “Tar Pit Operation”. Here are the details, and indicate (on its face) that no FDIC funds were involved. 1. Carrion is stuck in the Pit. 2. Saber Tooth (Friend of Hankenstein-FOH ) takes the Carrion in a government orchestrated “rescue” or “hand off”. Carrion shareholders and debt holders are completely wiped out. The FDIC gets brownie points for not taking a hit (or a small one), and can then point to the anti moral hazard lesson “to be learned”. 3. The assets and trashed securities of the Carrion are taken for a song. 4. A portion of the low cost basis trashed securities FOH (JPM in this instance) has taken are then marked up and profitably sold to the US Treasury’s deal making Leviathan.

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