F. George McDuffee wrote:
On Tue, 15 Jul 2008 07:53:48 -0500, cavelamb himself
wrote:

azotic wrote:
It appears the american taxpayer will subsidize the risks taken by
sophisticated investors.


http://www.reuters.com/article/press...008+BW20080711

Every taxpayer has huge amounts "invested," in that they share
the losses but not the profits/bonuses. and every American
taxpayer will be making [much] more involvement shortly.

Probably but the fat lady hasn't sung yet.


[Cue in popular C/W song "She got the gold mine and I got the
shaft..."]

At the same time the financial "masters of the universe" are
screaming for governmental GSE guarantees and bailouts, they are
not only dumping the GSE stock they own, but are selling short.

They saw Paulsen and that was OK.
What they didn't see was the guy who would have to fund what the
administration proposed for Freddie and Fannie, Barney Franks.
In other words, hoopla, a letter of intent, instead of a properly funded
offer.

Paulsen and Bush are trying to resurect the "Highly Confident" letter but
unlike Michael Milken, who had a tremendous run of success to point to, Bush
has all the credivibity his 8 year run of failure and mismanagement on the
table.

America has become thouroughly convinced that the lunatics are running the
assylum and good idea or no, it will take more that George W Bush at a press
conference to reclaim the public trust this administration has wantonly
destroyed.


--

John R. Carroll
www.machiningsolution.com