… last year of a $23.7 trillion total potential exposure was rendered antiquated by the quiet moves of Fed and Treasury in December to extend the Bailout limits to infinity, via lifting all limits on laundering the Bailout through Fannie and Freddie. …. We do get one piece of comedy out of the confluence of these pieces, as Krugman claims to take offense at Sorkin’s characterization of K’s part in the scam gambit of the Swedish-style “nationalization” idea. …

Visit link:
Lying Hacks « Volatility