A glance at MarketWatch this morning tells you all you need to know about the new United Socialists of America……..
So, in one glance, we have:
- The assumption of trillions of dollars of risk by the Treasury in order to protect FNM and FRE (whose senior management make millions in salary every year)
- The broadening of "emergency" loans by the Federal Reserve
- The banning of short-selling on many widely-traded stocks by the Securities and Exchange Commission (with another "emergency" order)
Perhaps high school civics classes should be changed to courses like Learning Parts of the Federal Government Vis a Vis Bullish Crutches. This is all ultimately going to be just as effective as the umpteen other things the U.S. has done to prop things up since last July. It's amazing what happens when you get a Wall Street insider running the controls, helping all his drinking buddies out back in Manhattan.
