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Politics : A US National Health Care System? -- Ignore unavailable to you. Want to Upgrade?

To: John Koligman who wrote (4045)	1/19/2008 2:36:02 PM
From: Katelew	Read Replies (1) \| Respond to of 42652

Hi John, I didn't see Cramer's show but saw him float the idea earlier in the middle of the day on CNBC. And on the Kudlow show that night, I heard someone else tout it. Yes, it piqued my interest too. I have no ideological resistance to such a plan at this point, although it still makes me furious that 'unfettered capitalism' created this mess. I was trying the explain the shadow banking system in this country to an investor friend, and I concluded by stating that this country may be about to learn what it actually means to have the Federal Reserve be the 'lender of last resort'. One thing I didn't hear Cramer or the other guy address is this. Closed end muni bond funds would be decimated by a default by any of the monoline insurers. By law, these funds are required to AUTOMATICALLY SELL a bond when the rating is changed. Can you even imagine the chaos in the bond market and the destruction to investor holdings such an event would bring!! Every single issue in this country would have to be analyzed and re-rated.....the time and cost of this is staggering, I would guess. ***************************************** I'm thinking next week will launch a tradeable rally. What about you?