To: FromLori
The change essentially allows the Fed to denote losses by the various regional reserve banks that make up the Fed system as a liability to the Treasury rather than a hit to its capital. It would then simply direct future profits from Fed operations toward that liability. It's an excellent solution.
4 posted on
01/23/2011 8:17:14 AM PST by
Toddsterpatriot
(Math is hard. Harder if you're stupid.)
To: Toddsterpatriot
I’m sure they’ll get right on it!
5 posted on
01/23/2011 8:37:01 AM PST by
PSYCHO-FREEP
(Patriotic by Proxy! (Cause I'm a nutcase and it's someone Else's' fault!....))
To: Toddsterpatriot
A liability to the Treasury? Shouldn't that say "a liability to the US taxpayer"? That's what it is after all.
More "privatize any profits, socialize any losses". I can't wait to see these Central Bankers dancing at the end of ropes.
20 posted on
01/23/2011 10:34:02 AM PST by
Lurker
(The avalanche has begun. The pebbles no longer have a vote.)
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