Had to get Al McGuire in there what with UConn on the horizon...
So why will Hopey-Changey's plan NOT WORK?
The fact of the matter is that this 2/3rds of the credit provided to our market has left and is not coming back until the misrepresentation ends and they can be assured that it will not happen again.
Feb. 20 (Bloomberg) -- Asian investors won’t buy debt and mortgage-backed securities from Fannie Mae and Freddie Mac until they carry explicit U.S. guarantees, similar to those given on bonds issued by Bank of America Corp. or Citigroup Inc
...in the attempt to divert attention from one group or another - and all of the guilty parties are engaged in it at this point, including Congress and our other regulatory agencies such as The Fed - we are forgetting that the private capital is still gone and until we find a way to guarantee that another assault will not happen that capital will not return.
And that "private capital" is not just "private," and certainly NOT the capital held by All The Rich Guys In The USA.
It includes Arab money, Chinese money, Japanese money, European money....
You really think they are going to buy T-Bonds which simply cannot be repaid?
Look, folks, that Old Money didn't get Money by being stupid. They, (unlike bankers), place a higher value on a "revolution is possible"-factor to their risk-analysis.
And when Hopey-Changey argues that it's all Seashells & Balloons & Unicorns after just $1Trillion more (and more, and more), the bond-buyers also think "...but who's going to pay 50++% taxes to FUND the repayment of the bonds?"...
Why do you think HRC was begging in PRChina?
Hint: It's not because of her nature...
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One wonders why HRC and Billy Bob don't just sell PRChina more of our nuclear secrets in exchange for purchased debt...
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