Bravo.

Great Ticker KD.

Yes Good One.

AND LET ME ADD, GOOD CALL ON THE LOAN PUTBACKS !!!!

HAS THIS LINK BEEN POSTED YET.
http://www.nypost.com/seven/05132008/bus....

HERE IT COMES....

Ding!

Nice find Bmaso. It is high time this started to get some traction.

Bloody well put Gen!

I understood it - and I think even politicians could understand it. That one really should get things sinking in if they can get to read it.

Other than that, it scares the **** out me . . . .

PS. Is it too late for you to stand for President?

PPS. Yes very nice find there. From it:
""This is going to become a bigger and bigger problem," Rosner said. "
I think Mr Rosner acted with remarkable restraint with that comment, tbh.

Good one KD.

Look the FED can spin it any way they want. What they cant deny is this is unprecedented and they havent been able to explain how this resolves itself such that the non-borrowed reserves are restored to what previously was considered a necessary and sound level.

How does it get paid back?

and how about the funds that are loaned to foreign CB's?

How is that going to be resolved?

In my view this is the most potent ticker you've written and I am passing this one to everyone I know planning for retirement and I'll be faxing it to my Rep/Senators/Anyone else I can find.

The imminent damage to every individual's bottom line doesn't get any plainer than that.

Great job!

You guys worry about the bottom line. Today I've got Friday PUTs I'm just worried about my bottom:

I have sent it, slightly rewritten, to all of the Senate and House bank/finance committee members.

Flood the fax machines and phones!

Sent to my congressmen. The honorable Mr Akin still has not responded to me yet for one item of legislation that he has authored or sponsored that saved the US taxpayers a dime yet. Not holding my breath. Who was it that said they were going to vote for the worst candidate -just to get it over with?

KD there's another HUD secretary speaking out watch him, bad career move makes me wonder if you read that Fitts link I left same story different decade.

Yep....

There are people in the Government that are reading what we're sending them, including the mountain of faxes I'm sending - I'm literally hitting these guys DAILY.

The message is getting through and some people in the government "get it."

If we can achieve critical mass in the government, we can stop this. It is not an impossible task and if we succeed, we will be the heroes 20 years from now when the history of his period is written.

If we fail we'll just be another bunch of loudmouths

Back to the real world here for a minute. How do we make congress do its job? One of my original ideas, i. e. a panel of "experts" (to include KD) convened in DC to walk the senior staffers who advise the House Financial Services Committee through the problem.....starting with the Constitution, through the Fed's Balance Sheet and on to Sch A and B of the BSC "contract". If I thought I could get the experts to go to DC, I think I would have a fighting chance to assemble all the staffers for a "seminar". I put that idea aside, thinking I could not get the experts to go, and shifted energy over to congressmen on the HFSC who I thought would have the most influence over other committee members. Defaulting to the BSC hearing as the most realistic hope, I am trying to force them to do their job by helping them ask the right questions while at the same time provoking their thought processes....all the while giving them the benefit of the doubt that they are sincere. Short of physical intervention, I don't know what else to do.

Me Pinhead, me not so smart... so anyways, how come most foreign powers (govts, swfs, etc. -- short of Iran and a few others) haven't woken up and smelled the coffee burning to **** between last august and now? If they ARE aware, how come they don't exert EXTREME pressure on BB's gang or Bush to stop the crap and come out clean? Why are they continuing to help?

Sent to my reps - well written - thanks.

I'll be more than happy to go.

The key item here is that Bernanke has admitted via his own words that he is lending money to bankrupt orgnizations, and concealing that from other organs of government with responsibility for the soundness of the banking system, including the FDIC.

The Non-borrowed reserves and Bernanke's own words today make this clear.

Lending to a company that is about to file bankruptcy the next morning is an admission of exactly that.

Great Ticker Gen. Concise and understandable. Bravo!

Rutben

I sent you a PM with a few more ideas and I would be happy to help including travel to DC if that makes sense at some point.

"Everyone on CNBC fawns over the better-than-expected retail sales numbers, which ex-autos reflected people doing what every idiot American apparently did - spend their "stimulus check" before they got it."

[raises hand] I did my part in this regard and spent half of it before I got it. I couldn't help myself.

very well written Karl

CR take on things....http://calculatedrisk.blogspot.com/2008/....

Interesting chart from Janet Yellen....