HowardBear Stearns Sold for a Penny on the Dollar
Real Crash- Looking at the Financial System and the War Drive:
It's Been a Hard Day's Night- Beatles
It's been a hard day's night;
Waiting for the Monday morning crash;
It's been a hard day's night;
But when they print 30- bill;;
You find the people they kill;;
Will make it feeeeel OK;
It seems hard to believe, but Bear Stearns, that two weeks ago was said to be worth $30 billion or more, was sold to Chase-JP Morgan for about $300 million. That is a penny on the dollar!!! Not only that, but the Federal Reserve is buying $30 billion of the worst most worthless toxic junk securities from them, to presumably be bailed out by the tax payer.
So much for the British model of unregulated greed-driven, anything goes "capitalism" (also known as legalized thievery). LaRouche told you so, the system has been bankrupt since 1987. And it is not just "those stupid people who bought those crazy mortgages that they can't pay now."
Next, if you don't wake up, it's on to Mayor Bloomberg's model of the "city-states." That means that 80-percent of the regions of the USA can collapse, but the beautiful people and their servants can still party in New York, Chicago and LA.
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Real Crash