[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 
still SOL.

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
http://www.mithral.com/~beberg/

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