so it just began. the transfer of toxic waste, the FED bought during all that turmoil and which is probably worthless, to the treasury.
http://www.marketwatch.com/news/story/Treasury-take-over-Bear-Stearns/story.aspx?guid={855A56BF-E8A1-49B5-BD95-02F6A9A813B2}&dist=hplatest
WASHINGTON (MarketWatch) -- The Treasury and the Federal Reserve released a joint statement Monday that spells out the different responsibilities of the two agencies in dealing with the financial crisis. In the most noteworthy part of the agreement, Treasury said it would take over the Fed's holding of assets of Bear Stearns and American International Group. Treasury did not say how it would pay for these programs and said it would only make the move "in the longer term and as its authorities permit." The Fed's investments in the three funds, known as Maiden Lane, totaled $72.21 billion in the latest week, according to Fed statistics
sooner or later, they are going to transfer several hundred billions of worthless shit on the backs of US taxpayer.
from rolling stones
"The crisis was the coup de grâce: Given virtually free rein over the economy, these same insiders first wrecked the financial world, then cunningly granted themselves nearly unlimited emergency powers to clean up their own mess. And so the gambling-addict leaders of companies like AIG end up not penniless and in jail, but with an Alien-style death grip on the Treasury and the Federal Reserve ."
http://www.rollingstone.com/politics...big_takeover/1
http://www.marketwatch.com/news/story/Treasury-take-over-Bear-Stearns/story.aspx?guid={855A56BF-E8A1-49B5-BD95-02F6A9A813B2}&dist=hplatest
WASHINGTON (MarketWatch) -- The Treasury and the Federal Reserve released a joint statement Monday that spells out the different responsibilities of the two agencies in dealing with the financial crisis. In the most noteworthy part of the agreement, Treasury said it would take over the Fed's holding of assets of Bear Stearns and American International Group. Treasury did not say how it would pay for these programs and said it would only make the move "in the longer term and as its authorities permit." The Fed's investments in the three funds, known as Maiden Lane, totaled $72.21 billion in the latest week, according to Fed statistics
sooner or later, they are going to transfer several hundred billions of worthless shit on the backs of US taxpayer.
from rolling stones
"The crisis was the coup de grâce: Given virtually free rein over the economy, these same insiders first wrecked the financial world, then cunningly granted themselves nearly unlimited emergency powers to clean up their own mess. And so the gambling-addict leaders of companies like AIG end up not penniless and in jail, but with an Alien-style death grip on the Treasury and the Federal Reserve ."
http://www.rollingstone.com/politics...big_takeover/1
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