Comment: Virginia is sleeping. Santa's making a list. Checking it twice..

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Virginia is sleeping. Santa's making a list. Checking it twice..

[Gaslights slowly return their ember to gently light the stage. Grandpa still rocks in his chair. The Norman Rockwell living room stage barely discernible in the background. Granpa raise his head & looks directly at you.] Gonna find out who's naughty & nice. You see Tommy...

Dear Tommy, Tommy Paine's Ma & Pa,

      A bed time story from the Fed. Once upon a time...

... their were established 12 little banks. Each had their own realm. Farther than your eyes could see.

Fed recent trends in pillage (start interactive chart @ year 2007).

Imagine for yourself & friends. You convince your pet Congress to back a line-of-credit with your promise they & their taxpayers will pay. Your friends go on a $16 trillion spending spree. They include your 500 or so congressional friends too. They even give you 6% right off the top to do as you please. In addition, though accounting irregularities, you amass $3 trillion to bolster your balance sheet. Confidence in you soars! Rumors of your demise be damned!

Footnotes @ bottom of Fed recent trends (previous link above):

  • *All Liquidity Facilities includes: Term Auction credit; primary credit; secondary credit; seasonal credit; Primary Dealer Credit Facility; Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility; Term Asset-Backed Securities Loan Facility; Commercial Paper Funding Facility; and central bank liquidity swaps.
  • **Support to Specific Institutions includes: Maiden Lane LLC; Maiden Lane II LLC; Maiden Lane III LLC; and support to AIG.
  • ***Support to AIG includes: credit extended to American International Group, and preferred interests in AIA Aurora LLC and ALICO Holdings LLC.

"Oh, What a Wonderful Life" Louis Armstrong. A tribute to your strong armed friends.

    see trees of green, red roses too
    I see them bloom for me and you
    And I think to myself what a wonderful world.

And with that Tommy, a good night. [Grandpa slowly rocks himself to sleep. Gaslights dim on the Norman Rockwell living room stage.]

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul