Yves Smith (YS) has a 4 November 2008 post at her Naked Capitalism about the New York Fed's hiring Michael Alix, formerly of Bear Stearns as a senior vice president in its "Bank Supervision Group". YS writes, "You cannot make this stuff up". I know. Here's a link: http://www.nakedcapitalism.com/2008/11/fed-hires-bear-stearns-risk-chiefto.html.
The Fed does not want to be outdone by Henry Paulson's (HP) Treasury. My 18 August 2008 post, "I Didn't Make This Up", is about HP hiring Morgan Stanley to work on Fannie and Freddie's rescue plan. Here's a link: http://skepticaltexascpa.blogspot.com/2008/08/i-didnt-make-this-up.html.
Laugh! We in the US are living on the far side of the looking glass.
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`I'm afraid you've not had much practice in riding,' she ventured to say, as she was helping him up from his fifth tumble.
The Knight looked very much surprised, and a little offended at the remark. `What makes you say that?' he asked, as he scrambled back into the saddle, keeping hold of Alice's hair with one hand, to save himself from falling over on the other side.
`Because people don't fall off quite so often, when they've had much practice.'
`I've had plenty of practice,' the Knight said very gravely: `plenty of practice!'
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