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I Was Wrong

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September 08, 2008 – Comments (0)

when I wrote this post titled 'The Final Fleecing, Then Goodbye'. This one is a disaster. Banks are allowed to lend $10. for every $1. they have on the balance sheet. Giving $200 billion dollars to Freddie and Fannie, in order to continue buying bad debt from the banks is the same as giving the banks 2 trillion dollars to lend. Frankly, I would rather give it to crackheads. Especially this guy who understands that "shelter" is a synonym for the financial industry.

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