This guys seems to think so.
While you were following the saga of the bailout, the vote of ‘No’ by the House of Representatives, an important story slipped through the cracks – by design.
No one is reporting on this.
No one will advertise this.
No one really understand this, as it slipped under the radar.
But the bailout is in full effect now.
Check it out.
Well, that was cleverly hidden. I saw the initial FED injection but the report I saw didn’t make note of the additional aucitons planned.
Two points I’d make about the conspiracy theories in the post:
1. I could be wrong, but this doesn’t actually create taxpayer debt, as far as I’m aware. I think the actual consequence is inflation (which isn’t that much better–worse, actually, taxes are at least progressive).
2. It won’t fix anything if this ends up being something the FED sticks with. I saw a pretty good non-partisan analysis earlier today that made me think of something Mark Warner says a lot: “If there’s one requirement we should expect of every elected official, it’s that they be able to read a balance sheet.”
http://www.hussmanfunds.com/wmc/wmc080929.htm
The short version: buying distressed assets at market value doesn’t change the quantity of assets on a balance sheet, only the quality. It does nothing to salvage equity, preserve solvency or otherwise improve the financial status of the institutions at issue.
(I don’t know that I agree with his counter-proposal).
Posted by silence dogood | Tuesday, September 30, 2008, 9:31 pmI heard on NPR this morning that the Brits had also dumped $300B into the system. Have you heard anything about that?
Posted by Anon E. Mouse | Tuesday, September 30, 2008, 10:23 pmWow!!
Thanks for sharing.
By the way,I just posted a new blog.
Please check it out.
Tilted: The Mores of Society During Election
Tell me what you think
Thanks
Posted by CandyLite News | Wednesday, October 1, 2008, 2:08 amAmazing — the spam just gets dumber all the time. This one doesn’t even give a link to what it asks one to “check out.”
And they ask us why we drink.
Posted by Anon E. Mouse | Wednesday, October 1, 2008, 8:10 amSorry, here is the link
http://candylite9.wordpress.com/2008/10/01/the-mores-of-society-during-election/
Posted by CandyLite News | Wednesday, October 1, 2008, 4:44 pmCandyLite – I know you’re new but you are dangerously close to being a spammer. When you visit a blog, you should add to the conversation, not promote your own blog.
Posted by vjp | Wednesday, October 1, 2008, 7:56 pm