Tech Support Forum - View Single Post

mimo2005 · 03-12-2008, 04:38 PM

The Federal Reserve announced on Wednesday a rescue package that it would put around $200 billion into banks and investment houses and allow them to put up risky home-loan packages as collateral.
Jim Rogers, CEO of Rogers Holdings, told CNBC Europe:"The Fed's move to accept risky collateral is not part of the central bank's business"

If you bail out every investment bank that gets in trouble, that's not capitalism, that's socialism for the rich

http://www.cnbc.com/id/23588079/site/14081545

03-12-2008, 04:38 PM	#1 (permalink)
mimo2005 Manager, The Relaxation Room/Analyst, Security Team Join Date: Oct 2004 Posts: 10,769 OS: xp	Socialism for the Rich The Federal Reserve announced on Wednesday a rescue package that it would put around $200 billion into banks and investment houses and allow them to put up risky home-loan packages as collateral. Jim Rogers, CEO of Rogers Holdings, told CNBC Europe:"The Fed's move to accept risky collateral is not part of the central bank's business" If you bail out every investment bank that gets in trouble, that's not capitalism, that's socialism for the rich http://www.cnbc.com/id/23588079/site/14081545 __________________ TSF has outgrown its server, again. Please help "Gutta cavat lapidem, non vi sed saepe cadendo"