After the market shut down Friday we were greeted with the news that the Federal Reserve is seeking greater authority to "police" the financial markets of this country. Bush is for this 100%. What it will do is totally privatize our investments and socialize any risk. It will be as close to a sure thing as the Big Boys can get it.
The sub-prime mortage scandel and the subsequent failing of Bear Stearns was all a decoy, or what we call a stalking horse. When people used to hunt from horseback they would have a horse trained to walk into a field with the rider walking beside it and not in the saddle. Other critters are not spooked as much by the appearance of another four legged critter. They all meet each other in the various pastures and know and undersatnd each other.
The stalking horse walks into the field and the shooter walks beside it. The horse ambles slowly up to where the shooter can get a good shot and the shooter lets the horse then walk on while the shooter is bringing up his gun to shoot. Works pretty good.
We also have Mr. Hegel to thank for the wondrous manipulation of our media in this fiasco. I wondered why Bush was not doing something about the sub-prime mess. I wondered why he wasn't talking about it. The answer is that he already had his plan developed and just needed to wait until the proper time to tighten the screws on the American public once again, a little tighter.
Bear Stearns had made a collosal bet against the currency of this country and it's allies in global economy. They were selling T-Bills short and had gone long in Gold. A sure indication that they figured the jig was up in the money end of things. And it looked like Bear Stearns was right.
So Bear Stearns go the plug pulled from under it. The word went to the street that Bear Stearns could not come up with cash for it's investors and the Big Boys started pulling their money out by the semi load. The process was a good lesson for those who went against the Federal Reserve and the Federal Government. Bear Stearns was deaad in the water. And shortly after that the plan was unveiled to give the federal reserve more authority in policing the market. And this country sucked it up like Charlie Vacuumcleaner.
Now we now why this sub-prime crap was allowed to go on. There was a plan to manipulate the market all ready to go forth as new policy, ready to present to the populace as their "government at work".
Don't fall for it.