The fed ,my cousin,

September seems to be spreading as the year draws to a close ,I get out of my slumber,U.S.A has becme u.s.s.a (Union of soviet socialist America)its just that you guys still don dare call it that way.Citi has been bailed out again and a host of others are restructuring &positioning their business to reach out for the TARP(troubled asset relief programme).The irony seems to be neverending.The government has decided to go by the ratings of Moodys S&P to back up all MBS ha ha ha,these were the rating agencies who rated all securities that collapsed as AAA.The crisis has spread across to everybody with Auto in the verge of collapse. When I asked my 24 yr old innocent cousin( studying in the U.S) on why the erstwhile U.S.A attacked Iraq,he believes its Americas pride. booked his tickets to India when crude was 140$ a barrell,While I still know he is good at what he does,the fed is my cousin.Morgan stanely and citi group are on the look out for storage tanks for storing crude bought at 100+$ . My childhood pal Dileep believes that the America could bounce back its only a matter of time.The 700bn $ bailout is now running into a few trillion dollars,Auto has been bailed out after much thought and many a clause and no one knows when GM would pause. ,Artificial injection of money into the economy could actually create more pain coz I see this money being used in stopping companies from failing,Citi after picking up a few billion dollars and 306 bn dollars in guaruntees still would cut close to 200,000 jobs.Scores of Americans would be losing their jobs in the days to come :).There are people who argue on %ages that the great depression had 25% unemployment in U.S and this time its just 7% what they need to understand is absolute numbers.As banks and businesses get ready for another round of bailout,Happy newyear America.