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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (87288)	9/29/2008 7:52:30 PM
From: Nihontochicken	Read Replies (1) \| Respond to of 116555

On BubbleVision today, contributing to the discussion on the bailout bill failure and what might be done now in response, CNBC regular Steve Liesman made a very interesting comment (note this is a decay memory paraphrase, but essentially true to what he said, I believe): "There is an insiders' club, I'm not sure who's inside, maybe Goldman Sachs, JPMorgan, Citi, Bank of America, and Morgan Stanley, but there's an insiders' club around which a line is drawn by the Fed, and the Fed will liquify to infinity to protect the insiders and not allow them to fail." It was just a side comment and conjectural in nature, not the focus of the discussion, but still very interesting, if at all true. I suspect it is. NC