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Really good, Mike. What about constitutionality of creation of the Federal Reserve? And money that is not silver and gold? I believe the Constitution specifies that creators of such money shall be put to death.
Sep 07 10:03 am
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All Comments by Old Turk »8 Quick Comments on the Freddie/Fannie Bailout Plan [View article]
About the GSE bailout:
1. Insolvency must be strictly shown according to accepted criteria.
2. Taxpayers must come before all debt and equity holders
3. Debt degradation must be structured so that bank holders do not have to immediately take a hit to their capital, and so that CDSs are not immediately triggered.
And for dessert, why the devil doesn't our brave government governance insist that CDSs be traded on a public exchange, to avoid all this unfathomable smelly stuff?