Enjoy Your Weekend!
(sub)Standard & Poor’s says it shouldn’t be sued over fraudulent ratings. (duhhh…)
Goldman Deutsche had “private doubts” about mortgage security ratings? (duhhhhhhhhh…)
Citi(of London)Group takes big risks, employees get big checks, taxpayers take big losses.
 
I’ll be back posting on Monday.
In the meantime, any new contributors or commentors other than spambots are more than welcome here!

Some might wonder why a blog devoted to the bank bailout insanity would focus so much on the health care debate. The point is simply this: We wouldn’t need to rethink our moral obligation to society if we hadn’t taken the bait to bail out the money-changers.
As we get past the moral dilemma of paying their ransom, and become [...]

1) Spitzer’s much publicized comment that “the Fed is a Ponzi scheme” is a bit off. The global speculation economy is the Ponzi scheme, central banks are merely “enablers”. The difference between Madoff’s fund and the global speculation bubble is that when Madoff’s clients took a run at his fund and he couldn’t fulfill the withdrawals, he [...]

While Ben Bernanke, Hank Paulson, Barack Obama and Tim Geithner continually, publicly, pat themselves on the back for “bringing America back from the brink” of some socio-economic doomsday breakdown of civilization, food shortages, chaos, riots and martial law, one must ask the question - “So what? What’s the BFD about temporarily slowing down the collapse of a 1.4 [...]