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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread -- Ignore unavailable to you. Want to Upgrade?

To: Investor2 who wrote (3710)	3/11/2008 4:08:54 PM
From: Boca_PETE	Read Replies (2) \| Respond to of 10065

STOCKS SKYROCKET AS The Fed -- acting in concert with the European Central Bank, the Bank of Canada and the Swiss National Bank -- agreed to loan investment banks up to $300 BILLION in exchange for debt that includes slumping mortgage-backed securities. biz.yahoo.com Ultimately they figured out an ingenious way to fleece taxpayers and give the money to entities who globally bought/sold those "dodgy sub-prime mortgage loans" for profit. Now the receivers of taxpayer money can earn more commissions (origination fee income) for making new dodgy loans. WOW! It sure pays off for firms like Goldman Sachs to shuttle your CEO off into government service for a lower salary. Now their books will be cleaned off at taxpayer expense, instead of the Goldman Sach shareholders and their ilk taking responsibility for bad business decisions. What a country. We have the best government money can buy! P