Single Post Display - MarketTicker Forums


	Detailed market commentary at The Market Ticker and Ticker Classics (The Year 2011 In Review) Donations accepted; we offer GOLD ACCESS for enhanced privileges. T-Shirts, caps, coffee mugs? Click here. BlogTalkRadio - Mondays at 3:30 Central - Yes, TickerGuy has a radio show (kinda) RSS available

MarketTicker Forums Single Post Display (Show in context)

User: Not logged on

User Info	Florida Gov't Won't Accept Loss!!!; entered at 2007-12-01 14:17:24
Drchaos Posts: 1646 Registered: 2007-09-03 sandy eggo, kallyfornyia	Come on you guys, this isn't some speculators or flippers taking some stupid risk. This is effectively a money market fund used for essential activities massively "breaking the buck". Local governments aren't in it to speculate, and they don't have the knowledge or expertise to look at funky stuff. Pooling funds like this for cash management has been done probably for many decades. Let's be clear who the villains are: securitizers passing on the worst toxic waste to a fund which should be invested in AAA only. In days past that would be considered unpatriotic to screw your own governments. What do you imagine would happen in China if some bank did that to one of their governments? Off with his head! Suppose your brokerage invested your cash and margin funds into some horrible crap instead of "cash" as you thought was "cash", and then they welched? 2007-12-01 14:17:24