Friday, July 11, 2008

Have A Nice Weekend......

I´ll bet that Bernanke, Paulson & Co have to work overtime this weekend. I assume we will get an anouncement on the Fraudie Mac & Phony Mae bailout before the opening of the US Market on Monday........ Capitalism and free markets at its best....... UPDATE: Felix Salomon nails it Parsing Paulson: The Fannie and Freddie Bailout A must read! Yves from Naked Capitalism is ( as usual ) providing a very nice summary on the entire topic The Real Test of the Not-Yet-A-Plan Fannie & Freddie Operation . Another must read post from Tanta / Calculated Risk

Bernanke, Paulson & Co dürften an diesem Wochenende wohl nicht viel Schlaf bekommen..... Bin mir ziemlich sicher das wir hinsichtlich einer steuerfinanzierten Lösung der Probleme bei Fraudie Mac & Phony Mae noch bevor die US Börsen am Montag eröffnen hören werden. ..... Die USA sollten sich demnächst ne neue Flagge mit Hammer & Sichel besorgen..... UPDATE: Welch Überraschung.... Felix Salomon trifft in Parsing Paulson: The Fannie and Freddie Bailout den richtigen Ton und übersetzt was wirklich hinter den kaum zu ertragenen Phrasen von Paulson steckt. Pflichtlektüre! Zudem hat Yves von Naked Capitalism in The Real Test of the Not-Yet-A-Plan Fannie & Freddie Operation wie gewohnt wieder eine erstklassige Übersicht zum Thema Bailout. Noch ein extrem lesenswertes Posting von Tanta / Calculated Risk. Hier wird in der bisher besten mir bekannten Form die Rolle der beiden Pleitekandidaten während der Immoblase abgehandelt und beleuchtet.

Dank an Zeitenwende

Yves from Naked Capitalism has an excellent "rant" from Willem Buiter on this topic.

Yves von Naked Capitalism hat passend zum Thema einen erstklassigen "Rundumschlag" von Willem Buiter. Der komplette Link ist extrem lesenswert.

So I call on Secretary Paulson, Chairman Bernanke and Director Lockhart to drop the market-friendly fig-leaf. Be a socialist and proud of it. Come out of the red closet. The Soviet Union may have collapsed, but the cause of socialism is alive and well in the USA. Granted, the US version of socialism is imperfect thus far. The federal authorities have mainly intervened to socialise the losses in the financial sector while allowing the profits to continue to be drained off into selected private pockets

AMEN! Got Gold.... ?

Hat tip to Tim from The Mess That Greenspan Made

Earlier today, the "tonnes in the trust" for the SPDR Gold Shares ETF increased by an astonishing 46 tonnes, in what might be termed an "adverse reaction" to the many and varied government assurances that everything is hunky dory at mortgage giants Fannie Mae and Freddie Mac.

This dwarfs anything other than the second day of trading for the ETF back in November of 2004 which saw 50 tonnes added.

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