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Certain actions of the Fed, the US Treasury and so on are edging toward a US Government bank. Why don't we go to a National bank now, that would help Obama a lot, and get credit where it is needed. The trick is to cancel the derivatives, and all the off-shore side bets. Go for fixed exchanged rates and a new Bretton Woods.
So the NY Times is nervous, but we gotta tell Harlem, it is time to go with LaRouche.
Says the NY Times:
The central bank announced that it would try to force down home mortgage rates by buying up $600 billion in debt tied to home loans guaranteed by Fannie Mae, Freddie Mac and other government-controlled financing companies.
The actions on Tuesday represented two milestones in the government’s expansion into private markets.
It was the first time that the Fed and the Treasury have stepped in to finance consumer debt. The $200 billion program comes close to being a government bank.
(We need a real National Bank, a la FDR, and a bankruptcy reorganization.
