Re: SC76

http://jameshowardkunstler.typepad.com/clusterfuck_nation/2008/09/a-ripe-moment/comments/page/3/#comments

Duhmerika only has 2 of the 5 top investment banks left.

That leaves Goldman and Stanley Morgan as the only two investment banks in Duhmerika and they are going down shortly.

Addition to the Gross Mismanagement of American finance by Rethuglicans and their Butt Boys Bernanke and Paulson, we get this news from Karl over at Market-Ticker:

http://market-ticker.denninger.net/

"The Fed has announced that it will take equities as collateral for loans. "Equities" is a fancy name for stocks.

That's right - for the first time in history, now banks can take stocks to the discount window.(as COLLATERAL) Maybe even their own stocks!

The Fed has gone from taking only the highest-quality securities - "AAA" rated debt instruments - to taking everything up to and including the most dangerous (common stock) all at once!"

This kids means the Fed (backed by US tax payers) essentially is buying common stock (as collateral) at the discount window and 'we the people' will be directly exposed to stock market losses for the first time in our history. Banks buy shitty stocks, hand them over to the Fed discount window for cash, and leave the debt to the taxpayers.

Neo Con Jobs are U.S.

Posted by: Lost Horizon | September 15, 2008 at 01:34 PM

The illegally created and fraudulent private entity called The Federal Reserve has always worked to preserve the illusion that they are part of the US Government, a true federal organization. Our constitution specifically says that only the government of the United States should be in control of and producing the money supply for the US. Now the Fed ( The Federal Reserve ) as its called is continueing to increase its control of US finances and the US economy through further policy changes such as nationalizing the institutions of Fanny and Freddie Mac which puts the US taxpayer on the hook for the losses of these corrupt institutions. The Fed are even now engaged in creating even more policy changes through which they will gain more control, and will be in a greater position to protect as much as possible the elite banks and financiers they represent from the losses of thier fraudulent practices, while in truth transferring the debt on to the backs of taxpayers. Henery Paulson, the US treasurey secretary is just another sinister puppet of the super powerful financial controllers who are now in charge of US finances. These criminals and criminal entities will continue to manuever to protect themselves as the general US financial situation degrades, at the expense of the rest of us average taxpaying citizens.