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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Giordano Bruno who wrote (412071)	11/23/2010 3:15:57 AM
From: Jeff Jordan	1 Recommendation Read Replies (1) of 436258

...yeah, all that bond business is greek to me<g> LOL.....the fix is the fix and the junkie isn't to blame? the Fed's official holdings of US Treasury securities now amount to $891.3 billion, which is higher than the second largest holder of US debt: China, which as of September 30 held $884 billion, and Japan, with $864 billion. Thursday, February 25, 2010 Fed to look at high-risk contracts on Greek debt Federal Reserve Chairman Ben S. Bernanke told lawmakers Thursday that the central bank is looking into the use by Goldman Sachs and other Wall Street firms of high-risk financial instruments to make bets that Greece would default on its debt. Mr. Bernanke said the Fed is examining companies' use of credit default swaps, a form of insurance against bond defaults. Mr. Bernanke made the comments at the start of a Senate Banking Committee hearing. It marked the second day that the Fed chief testified on Capitol Hill about the state of the economy. "Obviously, using these instruments in a way that intentionally destabilizes a company or a country is counterproductive," Mr. Bernanke said, adding that the Securities and Exchange Commission probably will be looking into this matter as well. "We'll certainly be evaluating what we can learn from the activities of the holding companies that we supervise here in the U.S," Mr. Bernanke said. Federal Reserve Chairman Ben S. Bernanke warned Congress on Wednesday that the United States could soon face a debt crisis like the one in Greece, and declared that the central bank will not help legislators by printing money to pay for the ballooning federal debt. What a mess we have indeed.......all we need is the creation of more financial junk? seekingalpha.com financialpost.com LOL...You think we've lost control? youtube.com ES -11 1187.00 Futures move lower after North Korea attacks South Korea. At least 200 rounds of artillery hit the South Korean island of Yeonpyeong......China flexing it's influence? Hillary and Obama have their hands full.....it's a fools game<g> the-diplomat.com

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