The Plot Thickens - The Federal Reserve's Evil Twin Surfaces!
There is serious talk these days of forming a Bad Bank of the United States. Yes, you heard me right, a "bad" bank. Because bank's are being pulled under the water by the rip currents of the toxic assets they were "asked" to assume, the suggestion on the broiler is to create a federally authorized institution to assume them and manage them in the best way it can, freeing financial institutions like Bank of America which has been dragging in an almost lethal way since acquiring Countrywide and Merrill Lynch.
A "bad bank" is not such a bad idea, really, for there is an equivalent of one in the real world. It is quite elaborate, actually, having different levels. The first is the 99 cent store, outlet shops, discount centers. The second is the swap meet, flea market. The third is the yard, garage, or rummage sale. The fourth is the thrift store or downtown mission. There is even a fifth level, it is called the dump.
Those things are perfectly fine operations, for they make veritable the value assignments of all sorts of things. Almost everything, really. Why can't there be one for finanical assets?
The tricky part comes in when people want to keep lying to themselves and ask government to enable the lying, something it does very well. It seems all you hear these days is the answer to the falling economy is to rethink how we do business.
I can rethink that for you right now.
Don't lie anymore. About yourself, what you can do, what you can't do, and what you think about others and what they can or can't do.
The World has all kinds of spiffy ways to try to do that, including the bold proposal of having a bank just for toxic people.
How about considering the Kingdom approach? The only thing about that is it is waaay far away from the World and any of its banks.
Want to know who the Kingdom's Banker is? Some thoughts about Him are here.
A "bad bank" is not such a bad idea, really, for there is an equivalent of one in the real world. It is quite elaborate, actually, having different levels. The first is the 99 cent store, outlet shops, discount centers. The second is the swap meet, flea market. The third is the yard, garage, or rummage sale. The fourth is the thrift store or downtown mission. There is even a fifth level, it is called the dump.
Those things are perfectly fine operations, for they make veritable the value assignments of all sorts of things. Almost everything, really. Why can't there be one for finanical assets?
The tricky part comes in when people want to keep lying to themselves and ask government to enable the lying, something it does very well. It seems all you hear these days is the answer to the falling economy is to rethink how we do business.
I can rethink that for you right now.
Don't lie anymore. About yourself, what you can do, what you can't do, and what you think about others and what they can or can't do.
The World has all kinds of spiffy ways to try to do that, including the bold proposal of having a bank just for toxic people.
How about considering the Kingdom approach? The only thing about that is it is waaay far away from the World and any of its banks.
Want to know who the Kingdom's Banker is? Some thoughts about Him are here.
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