SR61: What Is The Fed?
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-07-25 21:23
by Karl Denninger
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SR61: What Is The Fed?
 
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Mannfm11
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Incept: 2009-02-28
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No **** Sherlock. Mr. Still just said what I have said over and over again, there were no reserves. These guys couldn't cash a check without finding a cosigner or hocking something to pay it. I don't believe they had 2%. As far as Goldman goes? No wonder Paulson was threatening tanks in the street. His buddies money was about to go up in smoke and maybe his as well, not to mention all the **** he probably did that was illegal had it gone up.

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The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
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