Uncommon Sense: Federal Debt PAID by Wall Street? - Part One

History Lesson on September 17, 2008 - Black Friday -- So instead of repealing a poorly timed FAS 157 mark to market accounting system giving time for the federal government to ferret out the facts behind the mortgage backed securities collapse (not even the CEO's are sure what their traders acquired in the troubled companies) and the real estate market to stabilize, the FED is all but forced to step in and purchases AIG for nearly ten cents on a dollar with its trillion plus asset base just after acquiring Freddie Mac, and Fannie Mae. In twenty-four hours, with this one acquisition (if the cash flowing assets are managed properly) the national debt is reduced 600-700 billion dollars and Congress, which has done little to correct the root rot of the mortgage crisis, will most likely provide funds to the treasury insuring socialism replaces capitalism on Wall Street as more financial institutions begin to fail.

Category:

Education

Tags:

• Mark
• to
• Market
• Accounting
• Alexander
• Hamilton
• Henry
• Paulson
• George
• Washington
• Bush

[chellerx33]

holy shit someone with a brain! cheers to you!

[neothomist1275]

The Articles of Confederation formed a national government. The States, being sovereign countries, had the final say in things. This was not congenial to those esquires, bankers and merchants who operate under the Crown's commercial law (Maritime Admiralty). Thus the national government had to be overthrown and a commercial corporation (federal) raised in its place so that the bank/bench could operate as government.