In Memory of Carol Ann

Dedicated to Erin Elizabeth and Deanna Carol


Any society that would give up a little liberty for a little security deserves neither and will lose both.

Benjamin Franklin.













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Monday, July 30, 2012

2Bigger2Fail TARP or Lottabull

Once we agree 2big2fail was a giant mistake, we must realize the culprits Merrill Lynch and Countrywide would only further corrupt an equally corrupt BoA.
Same for JP Morgan Chase who acquired Bear Sterns with conjured up instruments through funds provided by Maiden Lane LLC. Courtesy of Federal Reserve Bank of New York.
Lehman Brothers who did fall into bankruptcy was purchased within 24 hours by Barclay's of London. Who recently are embroiled in the LIBOR scandal now rocking Europe's interest rate manipulation.
Upon the advice of Ben Bernanke, Hank Paulson and Tim Geithner we kept AIG alive as a zombie instrument to funnel cash to all the 2big2fail banks, was equally corrupt. Foreign Banks also benefited from conjured up instrument from Maiden Lane LLC and AIG with free money!
If we can agree these decisions are wrong leading America into spiraling debts. We should realize making 2big2fail into 2Bigger2Fail was a larger mistake. Realizing the logic of this decision was creation of a bigger problem from the first. The sum of the parts now greater than the Hole Logic. The Hole Logic seems to expose the Dow Jones as vastly over valued at even 10,000 points on Wall Street. The progress on Main Street being a much better barometer of the current economic Hole. This would no doubt bring clarity to the imaginary jobless recovery reported from Washington. Those of us on Main Street would naturally prefer a market less recovery and a job across the street.

Conversely, if we agree these were solid ideas and productive it would not explain the embarrassing 2012 scandal of JP Morgan Chase or Barclay's LIBOR interest rate manipulation. Indicating more Enron business models forthcoming.....

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