Thursday, January 21, 2010

Land of Tinfoil Hats

Just consider this....

Obama has authorized the Fed to give interest free money to The combo Banker/Brokers/Financial "Product" Engineers (we call this HBB or Humongous Bank and Broker).

In return, HBB promises to have their trader work overtime and on weekends pumping up equity index futures so that the stockmarket goes up and people get their confidence back.

Obama now is disgusted that HBB is going to hand out huge bonuses and make huge profits, while 17% of the country is unemployed.  They are also not giving out loans to people and businesses, nor are they helping people stay in their home (not much, anyway).   So he makes some penalty type laws against them.

They withdraw their bids from the market, and market has no where to go but down.  Market drops 2%. After all, they are the market makers.   This is punishment to the President for even trying to step on their toes.  

Lets see how long this punishment phase lasts, or whether some concessions on the Bankers are made "to ensure the recovery continues".

Cynical? Sure. 

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