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Treasury Department, Federal Reserve And The SEC

treasury department
photo by NCinDC

The Treasury Department along with the Federal Reserve and the SEC (Security Exchange Commission) have come up with a great idea by using our tax money to solve the financial problems. Secretary Hank Paulson Outlined the basics of the plan, but more will be told in the weeks and months ahead. Which means that the three stooges (Hank Paulson, Chris Cox and Ben Benanke) are just “winging it” and making it up as they go along.
It’s a real shame that this wasn’t done months ago, even before Bear Stearns took the hit. But as usual the three of them have always been reactive not pro-active. After all the short-selling that’s been going on for the last few months, now Chris Cox (how appropriate) wants to really put the brakes on the short-selling with some regulations. What I thought was stupid is that they’re going to create a agency to look over the regulations that will be put in place. Isn’t that what the SEC, Treasury dept. and the Feds were created for?
This is why the Democrats and their fearless leader (also brain-dead) Obama want to raise taxes. It’s so we can pay for their friend’s new jobs that are created constantly. Speaking of Obama, Isn’t sad to see that in just four years he’s been able to take the second all-time spot for getting money from Freddie and Fannie.
Our government is not broken, it’s the people that the American people have put in office that are corrupt that are destroying it all. I love this country and have nothing bad to say about the dream and ideas that our fore-fathers had for the new world. Unfortunately over the period of 232 years things change and corrupt people corrupt good intentions.
I like what Senator John McCain said, he said that Chris Cox would be fired if he was President and continued with, that Mr Cox should do the right thing and quit.
Don’t take this 700+ point rally in the stock market in the last two days as anything but a selling opportunity. I expect this crap to come back down again. I don’t trust the powers-that-be at this time. If you saw what went on in the financial sector before the market opened today and watched as the first thirty minutes went on, you can see that the only ones that are making a killing right now are the big guys. They pumped up the prices before the bell and after the average joe’s jumped in, they started to sell of with the profits and leaving them holding the bag.
I suggest to sell the rallies and wait it out. Good luck and happy trading.

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