[FoRK] $30B a bargain for what it looks set to achieve?
Adam L Beberg
<beberg at mithral.com> on
Thu Mar 20 12:59:37 PDT 2008
Jeff Bone wrote on 3/19/2008 4:15 PM:
>> The U.S. more or less had such a system in the 1830s: no central
>> bank; hundreds of banks printing money; hunreds of counterfieters
>> printing money; and hundreds of services offered to help tell
>> the good from the bad.
> I wouldn't want to return to that.
What do you think level 3 assets are? Thats what banks call "shit we
made up to make our balance sheet not say we're broke". The average
investor is going off info that's pure fiction, and the pros don't have
access to much better but at least they know it's fiction.
This next earnings period is going to be veeeeeery interesting, since
the feds stopped them from doing this quite so much.
Nothing about the underlying fiction and fraud has changed because of
the Bear Stearns bailout, it's still a house of lies, and the dollar is
I'll enjoy watching the "don't worry, be happy" next few weeks/days with
the rest of you tho :) The big boys are using it to dump worthless junk
onto fools and into your pension funds. Mmmmm, volatility.
Adam L. Beberg
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