![]() |
|
(more...)
(less...)
Add to My Group
Here's what the Federal Reserve had to decide over the weekend: Let the U.S. markets go into a free fall, like the demoed twin towers of the World Trade Center (and WTC7), or lend ginormous sums of money—that it does not possess because of the $225 Million U.S. per day expense of the war against Iraq—to keep Bear Stearns afloat on the ice floe that's melting due to global warming. (Did I include every deadly sin of the current administration in one question? Nah—I left out illegal spying on private citizens and the overall destruction of the U.S. Constitution. Oh, yeah, and failure to rescue the people of New Orleans during Hurricane Katrina.) So the Fed opts to loan $30 Billion of credit dollars—not available dollars—to JP Morgan so it can acquire Bear Stearns, so it can avoid sinking into the already gurgling slushy waters of the U.S.-led world economy impending disaster.
Tumerica is a freelance nonfiction writer whose essays on social injustice have appeared in area newspapers. She regularly blogs on progressive political issues, food, and beauty. She writes book reviews of non-fiction books, as well as writing articles on writing for other writers. Tumerica is a published poet, with her works appearing in literary magazines and anthologies. Tumerica is also a fanatic foodie who is currently working on a cookbook.
Copyright © OpEdNews, 2002-2008 |
|
|||||||||||||||||||||||||||||||