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Cyn, The_Jazz, ace.... by default, you're making the average Kos discussion participant seem much more competent than the average TF Politics forum participant. I am not ready to do that.
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I'd call it TFP forum participant. Remove the POLITICS part from it.
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The_Jazz... the OP has an article that amounts to a "trial balloon"...reaction to the inevitability that the Fed will transfer it's entire portfolio into machinations like this...Lehman "packaged" crap that the Fed ORIGINALLY would not accept as collateral....shined up by Lehman, "just for the Fed" to accept and lend against.
The Fed will need trillions of dollars to lend against this "type" of "collateral". Lehman's successful "experiment" belies the new reality that the Fed will accept ANYTHING as collateral....with no regulation of the borrowers.
The Fed is lending Taxpayer's money, (as is what is left of the Fed's portfolio), secured by fictitious collateral.. There is no "real world" market for the crap that the Fed is lending our dollars against!
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this helps me understand a bit more what you are trying to bring to bear as a discussion
this additional part just disconnected me....I didn't understand the walk or leap you took to get there, or how it is connected to the current pool you've just presented.
edit: also, I've not fully digested or started to discuss the points your educating me on, then you pile more on. I believe that's where it got disconnected for me. I see the connection, it's obvious when reading it. But in trying to digest the whole post, I come up short.
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Last edited by Cynthetiq; 04-11-2008 at 10:53 AM..
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