On Fri, 14 Mar 2008 13:25:55 -0600, F. George McDuffee
wrote:

This whole discussion sounds like a bunch of buggy whip makers in 1903
===========
How about the coffee shop in November 1929?

Huge raids on the federal treasury [i.e. the taxpayers] starts.
See below for the gory details.
snip
==========
What a choice -- would you rather see the US economy killed by
inflation or lack of liquidity.

== Remember that as tax payers, it is your money that is being
used and put at risk. The amounts involved are far in excess of
the "tax rebate" that you were promised. This is a direct result
of the repeal of Glass-Steagal1 (2) and the systemic evasion of
loan reserve requirements. Even the cash under your matress is
at risk through the operation of inflation.

From the UK some observations on this "rescue effort."

click on
http://www.guardian.co.uk/business/2...nch.useconomy1

FWIW -- "Mr. Market" does not seemed to impressed with the
efficacy of this "bail out."

Any nominations for the next "goat?" When does Carlyle and
Blackstone get the chop?


Unka' George [George McDuffee]
-------------------------------------------
He that will not apply new remedies,
must expect new evils:
for Time is the greatest innovator: and
if Time, of course, alter things to the worse,
and wisdom and counsel shall not alter them to the better,
what shall be the end?

Francis Bacon (1561-1626), English philosopher, essayist, statesman.
Essays, "Of Innovations" (1597-1625).