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View Full Version : OK. I confess ignorance. Can someone tell me why...



gilliganscorner
09-30-2008, 05:16 AM
The Treasury needs to be involved with the bailout?

If the Fed can monetize any debt, including steaming coilers of ABCP/SubPrime, why is Paulson in the picture at all?

The only reason I can see that makes sense to me is that it is a power grab by the Treasury.

Thanks!
me3
09-30-2008, 05:18 AM
Cover.
werdd
09-30-2008, 05:18 AM
It was nothing more than a litmus test, the fed does whatever they deem is best for you.

In the words of bernanke

"The constitution says congress has the authority to coin and regulate money, and they created us, so we have the authority"

Key word Coins, and Congress.

They are trying to fool the people into thinking that congress actually has a say in this.

If the people all knew how this monetary system works, there would be a revolution before tomorrow.
nodope0695
09-30-2008, 05:21 AM
The Treasury needs to be involved with the bailout?

If the Fed can monetize any debt, including steaming coilers of ABCP/SubPrime, why is Paulson in the picture at all?

The only reason I can see that makes sense to me is that it is a power grab by the Treasury.

Thanks!

Well, the FED is the group that gonna print the money and lend it to government, at interest, so they definately have a vested interest in this situation.

Also, all this garbage is being orchestrated by UNELECTED fat-cats in high places. So of course Paulson is going to be their stooge to liase with the gov't stooges.
gilliganscorner
09-30-2008, 05:23 AM
If the people all knew how this monetary system works, there would be a revolution before tomorrow.

Not if Apple released new colors of iPods. Sorry...Cynicism running high this morning...
me3
09-30-2008, 06:06 AM
Gilligan, are you ever going to blog again?
Pete
09-30-2008, 06:29 AM
steaming coilers of ABCP/SubPrime

Nice turn of phrase there. :)

The way I see it, this move was going to sanitize the balance sheets of Goldman Sachs and Morgan Stanley forever, plus give them a shitload of cash to maneuver with. Bernanke originally wanted the mortgage bonds bought out at PAR.

The way it is presently, they have to show their losses and borrow money at interest, like commoners. I think the plan was for Goldman to stage the suckers' rally of the century and pull in a lot of foreign money.

And, hey, has anyone noticed how the preoccupation with this taxpayer-financed meadow muffin has stopped everyone from complaining about AIG, etc?
freelance
09-30-2008, 06:35 AM
Nice turn of phrase there. :)

And, hey, has anyone noticed how the preoccupation with this taxpayer-financed meadow muffin has stopped everyone from complaining about AIG, etc?

And Fannie and Freddie, et al.
gilliganscorner
09-30-2008, 06:39 AM
Gilligan, are you ever going to blog again?

Why? I have been a bit busy these days with my business...Did you miss my ranting :D
me3
10-01-2008, 04:41 AM
Why? I have been a bit busy these days with my business...Did you miss my ranting :D
No. I just discovered your blog, and I'm pissed off that you have not made any recent posts. You should be posting daily, maybe 3 times daily. Stop only if you have to eat. You have a business? You should make blogging your business. Then I won't have to remind you to blog.

:)

Serious, it's a good blog. Do keep it up.