With your money, but not in your name - Bear Sterns as "Welfare Queen"

Did anyone ask you – the taxpayer – for permission to use your tax dollars for this purpose? Of course not. All of these revolutionary changes are being done without your consent or that of Congress.

Numerian at The Agonist

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 An open letter to Mr. Ben Bernanke, chairman, US Federal Reserve:

When rouges go berserk

But this is not a mere issue of even a trillion dollars as others opine. As the Fed chairman, I am sure you are aware of the magnitude of the problem. Let me elaborate.

Sir, you may recall that it often said that when normal men go berserk they are called rouges. When rouges go berserk, it is called the global financial system -- a system that is defined, dominated and denominated by the world of derivatives.

Sir, as you may be aware that derivatives are creatures of the world of 'virtual finance' that dominates the world of 'actual finance,' several times over.   M R Venkatesh  - Life Insurance Corporation of India  March 20, 2008