20 Reasons Global Depression- Market watch (Christmas, Obama, March, compared)

[SilverOne]

Our debt time bomb is ready to go ka-boom Paul B. Farrell - MarketWatch

Yes, 20. And yes, any one can destroy your retirement because all 20 are inexorably linked, a house-of-cards, a circular firing squad destined to self-destruct, triggering the third great Wall Street meltdown of the 21st century, igniting the Great Depression II that George W. Bush, Ben Bernanke, Henry Paulson and now President Obama have simply delayed with their endless knee-jerk, debt-laden wars, stimulus bonanzas and bailouts.

[newonecoming]

it is going to be bad.

[SilverOne]

Market Skeptics

The Huffington Post reports about The Biggest Financial Bailout of Them All.

(emphasis mine) [my comment]
The Biggest Financial Bailout of Them All
Posted: March 6, 2010 04:30 PM
Garrett Johnson

Let me take you back to Christmas Eve, 2009. It was a time to wrap gifts for loved-ones. That's how the Obama Administration felt about the financial industry when it lifted all caps in emergency bailout money to Fannie Mae and Freddie Mac [See U.S. promises unlimited financial assistance to Fannie Mae, Freddie Mac]. That means the taxpayer was on the hook for all losses at these two mortgage giants no matter how large the losses. The move caused a slight stir, but never got the attention of the American public because the announcement was timed to coincide with the peak season of distraction. And so it was forgotten ... but not by Fannie and Freddie.

On eight maids a milking day, also known as New Year's Day, Fannie Mae took advantage of this generosity.

"Effective Jan. 1, 2010, Fannie Mae brought an additional $2.4 trillion of its guaranty book of business on to the balance sheet under SFAS 166/167. Therefore, Fannie Mae expects to reflect approximately 18 million loans on its books compared with approximately two million loans as of Dec. 31, 2009. Management estimates that the cumulative effect of adopting FAS 166/167 will boost its net worth by $2 billion to $4 billion in its first-quarter 2010 results."


12 pages at the website, along with data that supports the article......