US Treasury Admits It Conducted A Circular Ponzi Scheme For Years Submitted by Tyler Durden on 08/17/2012 09:29 -0400 Nationalization Tim Geithner While one may wonder about the implications of the just announced "accelerated windown" of the GSEs, predicated in no small part by the surge in animosity between Tim Geithner and the FHFA's Ed DeMarco, there is one aspect of the announcement that is completely and utterly unambigious: as part of its justification to demand faster liquidation of Fannie and Freddie's "investment portfolio" Tim Geithner gave the following argument : This will help achieve several important objectives, including... Ending the circular practice of the Treasury advancing funds to the GSEs simply to pay dividends back to Treasury In other words not some fringe blog, not some "partisan" media outlet, not some morally conflicted whistleblowing former employee seeking immunity, but the US Trasury itself just admitted it had been engaged in circular check kiting scheme, which essentially has all the components of a Ponzi scheme in it, ever since the nationalization (about which there is no now doubt and which means the GSE's $6 trillion in debt is now fully on the Treasury's balance sheet) of Fannie and Freddie in 2008. Transfer one more conspiracy theory into the conspiracy fact bin. Average: 4.875 Your rating: None Average: 4.9 ( 24 votes) Tweet Login or register to post comments 8503 reads Printer-friendly version Send to friend Similar Articles You Might Enjoy: Crony Socialism Strikes Back: Geithner Retaliates Against DeMarco; Accelerates Wind Down Of GSE Treasury Backing Geithner To DeMarco: "I Do Not Believe Is The Best Decision For The Country" Bank Of America Has Lost Money Trading On Only Three Days In 2012 Guest Post: TBTF Banks Laughing All The Way Home Thanks To HARP Presenting The Shocking Source Of US Treasury Demand In The Past Year
标签: wonder经管大学堂：名校名师名课
京公网安备 11010802022788号
论坛法律顾问：王进律师
知识产权保护声明
免责及隐私声明
