florida08
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Wed May-05-10 12:57 PM
Original message |
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The Federal Reserve now owns credit default swaps from AIG and Bearn Sterns that are bets on Nevada, Florida and Arizona to fail.(default on their loans)
So now the FED is like Wall Street
Bernie Sanders just now on CSPAN
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pnwmom
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Wed May-05-10 01:05 PM
Response to Original message |
1. Is anything inherited from those places of any value? |
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If so, the Fed Govt could use the money to help the states if they DID fail.
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elehhhhna
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Wed May-05-10 01:47 PM
Response to Original message |
2. NOT TRUE - this was from a satirical article I saw here this week. |
florida08
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Wed May-05-10 02:10 PM
Response to Reply #2 |
3. what are you talking about?! |
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Bernie Sanders just stated it on CSPAN while debating his amendment for auditing the FED. Bernie would not lie
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elehhhhna
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Wed May-05-10 02:38 PM
Response to Reply #3 |
4. perhaps he is confused and misinformed. It was satire. |
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Edited on Wed May-05-10 02:41 PM by elehhhhna
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florida08
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Wed May-05-10 03:17 PM
Response to Reply #4 |
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hey thanks for that link..that was a year and a half ago!
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jotsy
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Wed May-05-10 11:49 PM
Response to Original message |
6. Another kind of credit default swap involving cities and states. |
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Noticed some discussion in this thread about whether or not it's parody. It hadn't struck me as satire, but I'm sure I originally read about the matter somewhere other than the link, which happened to be the first applicable article I found. < http://seekingalpha.com/article/201633-bailed-out-banks-betting-against-u-s-cities-and-states>
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harry_pothead
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Wed May-05-10 11:53 PM
Response to Original message |
7. Call the Fed, tell them to put $25 on 20-Black. |
LiberalAndProud
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Wed May-05-10 11:54 PM
Response to Original message |
8. Take that Arizona! (joke) |
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Just weird.
So the Fed will get money if states default? Can we just turn that money around to bail out the states that default?
I'm so confused.
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Enthusiast
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Thu May-06-10 04:47 AM
Response to Original message |
9. Apparently this is why |
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the FED can't be audited. There is simply no justification for the FED to be involved in such shit.
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DU
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Fri May 03rd 2024, 06:59 PM
Response to Original message |