Call it Uncle Sam's hedge fund. The rescue of the American financial system proposed by Treasury Secretary Timothy Geithner is, in all but name, a gigantic hedge fund. The government would lend vast sums to private investors to enable them to buy loss-ridden assets at discounts from banks with the prospect of making sizable profits. If that's not a hedge fund, what would be? The hope is that the $14 trillion U.S. banking system would expand lending if it could get rid of many of the lousy securities and loans already on its books...
That being The Washington Pravda, Mr. Samuelson goes on to tell us how it's ...not as crazy as it sounds.
No, sir. We're not as dumb as you and the rest of the Village think we are.
Another myth that the Village is trying to propagate is that the only opposition to the bankster takeover of the Treasury comes from down home, McCainiac, Right wing populists who are anti-Big Government and anti-Big Business.
Like this guy, I guess.
Here's a quick flash to the main$tream. The Republicans are and have always been the party of Big Government and Big Business. It's just the Democrats have also been bought out now. Paulson or Geithner, both owned, and only the gullible would think otherwise.
Unfortunately, there are quite a few like that. Bu$hie's core "30%" of the electorate. The Oborg Assimilated, too. It's enough to ensure interesting times for the foreseeable future.
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