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logan's run method of saving social security...,
HEADLINE: the too big to fail laughing at the too small to save:
"RESEARCH ALERT-Citigroup cuts target on E*Trade".
And... we have 300 billion more on the hook. Yee haw. Remember when conservatives were complaining about the "implicit guarantee" behind GSE obligations? Some of them argued (seriously!) that that was the government intervention that caused the crisis - a non-existent guarantee that is implicit because people chose to ignore the big sign on the front door declaring that payments were not guaranteed. I guess everybody is getting actual guarantees now.
I'm going to go watch a lecture on quintessence. Theoretical physics is less infuriating than finance.
update: well, there's a cool thing I hadn't heard of before:
At the only known location, three ore deposits at Oklo in Gabon, sixteen sites have been discovered so far at which self-sustaining nuclear fission reactions took place approximately 1.5 billion years ago, and ran for a few hundred thousand years, averaging 100 kW of power output during that time
update: But isn't that strange? We recapitalized Citi again with another 25 billion, and they put a 300 billion dollar conditionality on us. Again, I suggest you get the urge to google "convoy banking system".
:: posted by buermann @ 2008-11-23 22:49:09 CST |