This is a big #*&%@ deal.
Henry Waxman's fuzzy math.
Waxman is summoning the heads of those companies to Washington to explain themselves. It's not clear what they're supposed to explain. What they did is required by GAAP.
And I've watched congressional hearings. There's no chance that four CEO's are going to explain the accounting code to the fine folks in Congress; explaining how to boil water would challenge the format.
we can just go to the IMF and they'll bail us out like they do every other country. oh crap.
I know you're joking but there may be those who don't understand how the process works.
The lender of last resort to the IMF is the World Bank, the lender of last resort to the World Bank is the Federal Reserve who creates federal reserve notes out of thin air in exchange for US Treasury Bonds.
When the US treasury bonds mature the American taxpayer pays the Federal Reserve in federal reserve notes and destroys the treasury bonds and the federal reserve, (a private group of international bankers) gets to keep the money.
Then in order to keep the ball rolling more treasury bonds are printed and the fed 'creates' more federal reserve notes and is that much richer once more. As ponzi schemes go, this is by far the ultimate.
One wonders why they would want to kill the goose that lays the golden eggs.
It really doesn't take a rocket scientist to figure out the the tax burden on the American people will eventually be more than they can pay just to service the national debt, much less continue to fund the wheels of an ever growing federal government.
Just like the dot com bubble, this illusion will have to burst someday.
What will happen then, I've asked this question for over fifty years and havn't gotten an intelligent answer.
Unfortunately sometimes you get totally stupid crap like the two following posts.
Clearly this is related to the diminishing % of white Americans and the Tea Parties.
Posted via VolNation Mobile
Do the math.
Asinine would be a better choice of words than nice.
There now, happy yet??
