A few months back,as part of a Tin Foil Hat Production,I mentioned CIT’s desperate need for funds and the Fed’s decision not to bail them out. Why is this noteworthy? After all,I don’t believe the Fed should bail anybody out. I cheer wildly to see Ford record surprising profits while competing against [...]
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Happy Monday everyone. Sean here,with the “I” news team bringing you a few under-reported items from last week. Stay tuned for the Inspirational,the Inscrutable and the Indefensible. You decide if any of it is Indispensable. The Inspirational:James Krenov died last week. He was an artist,writer and philosopher who left an indelible [...] Quick check on the current status: The CBO came out with a non-partisan report showing that Health Care Reform,as it stands now,will not only fail in its main purpose of lowering health care costs –but will actually raise costs by over $1 trillion! Senators from both sides of the aisle are urging [...] Today the Fed releases the results of the banking industry “stress test.” You remember this test right? The Fed created a scenario of economic failure well beyond what is already the worst economic downturn in seventy years. They then evaluate the banks’ ability to withstand this Armageddon against the Fed’s own made-up base line. (Let’s [...] Alright,let’s see if I got this straight: Less than 4 weeks ago Citi was purchasing Wachovia in a deal brokered by the FDIC. Less than 3 weeks ago the Fed injected $25 billion into Citi Less than 1 week ago Citi’s shares tumbled Yesterday the Fed injected ANOTHER $20 billion into Citi Am I [...] In an earlier post I laid out how my distrust of conspiracy theories is being severely challenged by our government and what appears to be a naked power grab. I am loath to continue in this vein for fear of being labeled the nut job who writes about Area 51 and Men in Black. But [...] I am not,by any stretch,a conspiracy person. I think the probability of a conspiracy succeeding is inversely tied to the number of people involved. That makes me especially dubious of government conspiracies. The bottom line for me is this:people are smart,groups are dumb. If you want to understand something just follow [...] | |||
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