Wednesday, October 08, 2008

That's A Lot of Zeros

After my post on the subject, a few of you have sent in questions about Congress's bailout, rescue, nonsensical, $700B "package." I have lots to say on the subject, but to answer the most common question, here is a chart that even the US Congress can understand:

Hope I don't come across as too jaded, but this chart looks pretty accurate to HTF . . .

Keep sending in your questions/comment/jokes/rants to

1 comment:

Unsure about ice cream said...

Do to the inability of the Federal Reserve to influence the tightening monetary policy the banks have shown, note that LIBOR and EURIBOR rates have not marched in tandem with the decline of the Feds fund rate cuts, the Fed has been forced to resort to extreme measures. Granted the bundling of mortgages, including those of poor credit quality, into securitized vehicles and traded across borders can be blamed on borrowers, lenders, and banks rather than those of us who followed standard 80/20 for purchasing homes. Sadly though, the influence of the deterioration of the value of these mortgage driven vehicles, with there offsetting mark to market issues, has declined not only the deserved banks portfolio but also my 401K, 529, and pension savings plans which have also indirectly invested in affected securities or equities of these banks. So though I don’t feel responsible, my retirement does feel the brunt of this devastating economic tragedy. Plus, I figure China is going to fund this anyways so bring on Socialism.

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