Wednesday, August 29, 2007

Calm Waters Masking Rumbling Underwater Volcanoes

Michael Panzner, over at Seeking Alpha, has written this eye-opener about what's going on under the boat.

The LLR (the Lender of Last Resort, otherwise known as the Inventor of Moral Hazard, i.e. the Federal Reserve with its backer the US Government) is actively seeking to bail out large banks, while we all think the situation is not so bad.

Very scary stuff.

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2 Comments:

Anonymous Anonymous said...

The former Fed Chairman, Alan Greensplash (of irrational infusions fame)is responsible for the financial Frankenstein that has arisen -- the credit bubble. The American middle class should rise in revolt against these elitist assholes in Washington and NY.

Ted Harwood

3:42 PM  
Blogger Katy said...

Ted, I appreciate your comment, and I would agree with you if it weren't for my fear of the mass hysteria that almost always results from revolutions.

We should be able to get our message through without bloodshed or other violence. We've got to reduce government; and it won't be easy, especially with the platform of candidates we will face next year, with perhaps one unlikely exception.

Here's a suggestion: Try joining the Free State Project, move to New Hampshire, and get that state to be an example for the rest of the country.

Just a fun note: My maiden name is Harwood. You can check out another namesake, my Dad, in some of my earlier posts. Just do a search inside this blog, at the top of the page.

3:52 PM  

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