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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (104499)	8/17/2009 3:36:52 PM
From: carranza2	Read Replies (1) \| Respond to of 110194

What do you make of the rumors that the Chinese sov. wealth fund is considering putting in some cash into P-PIP which, by the way, is still not off the ground because of 'legal' issues. The mark-to-opium-dreams discredited Paulson/Geithner ideas are why credit has been frozen or congealed. Banks know full well that they are holding crap. Any sales which does not cordon the garbage off automatically mark the so-called assets to market, with the expected result to follow. This is what banks fear, the elephant in the room very few except folks like E. Warren, Chris Martenson and others are talking about. The bulls are whistling past the graveyard. I suppose China now thinks that it is in its best interests to help out with this since, obviously, any expression of confidence on their part, no matter how cheaply bought [I heard of $1-2 billion, chump change given the size of the problem], will inspire confidence. Or it might be throwing good money after bad, since not even Chinese money, unless massive in scope, can truly fix the damage the ganster/banksters have done.