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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (269039)	9/16/2008 9:47:31 PM
From: skinowski	Read Replies (2) \| Respond to of 793903

Socialism hasn't worked anyplace. It won't here either. Agree. I think al this is disturbing. Today, private money walked away from AIG - so, the Fed committed 85 bil for 80% of the company. Besides the socialistic implications of this move - What if it doesn't work? Contrary to popular belief the Fed does not have unlimited funds. Read in FT today - Markets are beginning to price in the possibility of the US government defaulting. The implied odds are low - under 1% - but for the first time now this scenario is not completely of the table.