vhf

Thanks for the post on LEH along with the chart.

I think if all the level 3 assets were unanchored from their hiding places and floated to the surface all hell would break loose in financial markets. But then again, it might not completely happen as the Fed is buying bankrupt paper to stick it us later.

Don't we all wish that we could roll over our losses to the Fed in exchange for Treasury instruments? Jim Rogers has called the mismanagement of the Fed "socialism for the rich." Jim detests what the Fed is doing to 300 million Americans and makes no bones about it.