The US Treasury backed by the American taxpayer.
This is really the endgame. Wall Street has subsumed the US Treasury and turned it into a massively leveraged hedge fund that is controlled by an unscrupulous charlatan who made his bones evicting families from their homes during the worse economic slump since the Great Depression.
We're truly fu**ed.
NOTE- As this was being written, stocks were shooting higher for a third consecutive day due, in large part, to the easing of credit spreads in the corporate bond market. According to Matt Maley, chief market strategist at Miller Tabak, "They've been able to come into the credit markets and stabilize that area; we see credit spreads starting to tighten up a little bit"..The fact that they're starting to stabilize gives people the kind of confidence they need to be able to dip their toes back into the market at a time when we absolutely need it."
In other words, the bailout appears to be working for the investor class. Yipee.
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