FED is using taxpayers money to buy BS maseratis?
Bank on it..
Had Bear Sterns been forced into bankruptcy, the executives would have had to return their bonuses. Suckers!
Also see, The Great Unwind has begun, Citigroup warns
"We are now confronted by a broad bloodbath in the credit markets," Citigroup said. " The most leveraged paper is falling in value because it is leveraged, and now the least leveraged paper is also falling in value because it is owned by leveraged investors."
Leveraged economies, like the U.S., should also be avoided, in favor of emerging market countries, which have reduced borrowing, the bank advised.
With less capital sloshing around the world, and the dollar falling, the U.S. may have to compete more to finance its deficits.
"The U.S. shows up as the world's greatest consumer of external capital," Citi noted. So it "has the most to lose as this capital becomes less freely available."