Bernanke’s Latest Plot

So, Wall Street’s financial geniuses got back into the MBS-biz (for a second time) and got whacked again? That’s right; and now they want John Q. Public to pay for it with another bailout.

And, there’s more to this story, too. European banks own roughly $100 billion of these mortgage-backed turkeys which they’re presently shedding like crazy in order to meet new capital requirements. That means US bank balance sheets are dripping red as the value of their financial asset-stockpile continues to plunge. That’s  why Sugar Daddy Bernanke has stepped in, because it’s time for another multi-billion dollar bank rescue.

http://www.counterpunch.org/2012/01/13/the-foreclosure-to-rental-screwjob/

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