HowardMerrill Lynch Marks down Bond 78%
Real Crash- Looking at the Financial System and the War Drive:
Yes, Merrill Lynch is marking down a special type of bond or financial instrument, called a CDO (Collateralized Debt Obligation) by 78-percent. This gives you an idea how bad things. are. So, from $30 billion, about $25 billion has just vanished. Talk about a magic trick!
Treasury Sec. Paulson is trying to, together with Morgan Chase, Bank of Amer., Citibank and Wells Fargo, to create a new "Covered Bond" to back up mortgages, without slicing them up the same way that was done for the MBS (Mortgage Backed Security). It won't work, the horse is already out of the barn.
So, why doesn't Rush Limbaugh, Savage, Imus, etc scream about the above? Because they are a bunch of overpaid, British hedge fund run zombies. The sad thing is the zombies that listen to them, they end up being a bunch of dumb British agents of influence, and are losing everything. Time to link to the geezer, and get the four-powers plan (USA, Russia, China, India) for a New Bretton Woods financial reorganization, and fixed exchange rates again.
Treasury Sec. Paulson is trying to, together with Morgan Chase, Bank of Amer., Citibank and Wells Fargo, to create a new "Covered Bond" to back up mortgages, without slicing them up the same way that was done for the MBS (Mortgage Backed Security). It won't work, the horse is already out of the barn.
So, why doesn't Rush Limbaugh, Savage, Imus, etc scream about the above? Because they are a bunch of overpaid, British hedge fund run zombies. The sad thing is the zombies that listen to them, they end up being a bunch of dumb British agents of influence, and are losing everything. Time to link to the geezer, and get the four-powers plan (USA, Russia, China, India) for a New Bretton Woods financial reorganization, and fixed exchange rates again.
