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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: carranza2 who wrote (60299)1/22/2010 5:28:28 PM
From: TobagoJack  Respond to of 217734
 
just in in-tray, a reminder that volcker changes nothing

Reckon anyone will ask Volcker about his role in the Conti Illinois bailout? I almost lost my job as a risk arb,shorting the worthless pfd stock of a bankrupt bank v. being long the sr. debt which m-t-m still had some value. Bingo,Volcker leads a bailout wherein ALL parties (re AIG) got par.His response to Congress under oath: "It's what the Fed was originally designed and set up to do". Nothing has changed since 1914. The USA is not managed by its elected officials.