Friedman & Reagan
frequently carried around a copy of
Milton Heinous Bastard Friedman's
Capitalism and Freedom
|September 09, 2008
"US Bails Out Fannie Mae & Freddie Mac"
Mortgages/Housing - NATIONALIZED
"The US government has seized control of the mortgage finance companies Fannie Mae and Freddie Mac in what could become the largest corporate bailout ever. The Treasury Department has pledged to provide as much as $200 billion as the two quasi-public companies deal with heavy losses on mortgage defaults".
American International Group
Federal Reserve rescues AIG
"Highly unusual decision effectively nationalises insurer"
"The US government has seized control of the world's biggest insurance company, AIG, in an $85bn (£47bn) emergency rescue to avert a "disorderly" bankruptcy which threatened to wreak havoc with fragile financial markets."
It has been three days of down on the DOW / World Markets
Countries were bailing out their banks
Harper finally threw $20Billion at RBC and banks cut interest rates
- though he continues to say 'Our Economy is STRONG & Safe'
"The problem with the current global crisis is that it is acting like a disease that is progressing with terrifying rapidity.
"In response, the financial medicos are throwing every drug and scalpel they have in their bag at the problem. We have seen rate cuts, trading bans, bailouts, loans, nationalizations and TARPs ... and that's just the last two weeks!
"But that profusion of responses means that neither they nor investors know what is working, what is having no effect, and what might actually be making the system even sicker." Duncan Stewart