madasiwannabe

The Fed - A True Haven for Capitalism?

Because Bill Gross said so? PIMCO makes a ton of money off the increasing spreads. They are heavily vested in the GSE's and Treasuries. An explicit guarantee just means Bill now has nothing to worry about. Actually the Asian's are spot on when they say the treasury has put too much junk on their balance sheets so dump T-Bill's. The increased treasury spreads means even more money for Bill.

The Government takeover just cost the taxpayers $30 Billion just in yesterday's lost shareholder book value alone and we haven't even got warmed up. Any gains in other sectors will be gone by next week and we the american tax payers will be stuck with rediculous credit rates to pay for Bill's Ponzi scheme.

Maybe Greenspan would be a better guy to quote. No wait, he works for Bill too.