Liquidity Enhancing: Superfund Superflux
Short of LECAGY and MEMORY
The Superfund is a measure of superabundance, superfluity or an overflowing -superflux- and compared with toxic waste by the www.thefreedictionary.com :
The federal government's program to locate and investigate and clean up the worst uncontrolled and abandoned toxic waste sites nationwide; administered by the Environmental Erotection Agency www.epa.gov "Some have intimated that the Superfund's money may have turned into a political slush fund".
The banking industry's off balance-sheet vehicles until the recent credit crunch, have managed to escape serving public officials' attention and oversight because the void of overview in the financial fee-markets was eagerly filled by a rating agencies' machination full of bold and unparalelled arrogance Fed by greedy speculators and mercyless investors.
This group of people now seeks to dump what they have pumped: a well-engineered global crime frame scheme for but one goal and game: growth of greed. There is only one solution to kill public-private parasites: mill the swamp. The P3 doctrine amounts to nothing less than seized life... even for the affluent. Who wants to live in a cage?
Since the U.S. Treasury Department -a public body- has strongly encouraged private intervention by America's biggest banks -Jp Morgan Chase, Citigroup and Bank of America- for no reason that holds ground. They are in it and glued. Of course they offer no public comment while the question remains: what party has the best lawyers for the coming trial of error.
The Fed noting action would prevent firesales of assets, is a rediculous argument. Critics reason that the proposed M-LEC Masterplan is designed to allow financial institutions to avoid recognising losses and to obscure insider dealing and in-house judging within the broader public-private constellation of the global financial architecture.
Top investor Warren Buffet judged M-LEC, the Masterplan Liquidity Enhancement Conduit as being a new labyrint: "pooling a bunch of mortgages, changing ownership" would not change the viability of the instrument itself. "It would be better to have them on the balance sheets so everyone would know what is going on".
It appears, the vehicles' instruments, toolkits and engines are dumped -after being unloaded- with the spare tire in some poor people's backyards and towed back to the swamp at night to be discarded... for good. Get the picture? But, guess what when the swamp will be milled dry by some Dutch engineers... The balance sheets that were missing were left in the dashboard locker!
Hope the failing state will linger enough to be taken to the bench.
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