Just when you thought subprimes troubles were over, there's mono bond insurance

You ain't see nothing yet, folks! Just when you thought you had heard the subprime mess had hit rock bottom, it has fallen out revealing a stratum much deeper. The mono bond insurance racket! Yep, gone is the fine line between private and municipal bond markets. The schemers in the insurance industry now are in a fix, they've not enough capital to stroke the billions if not trillions in debt on their books. The feisty governor of the state of New York Eliot Spitzer who should know something about commerical bonds and public debt, has blown the whistle on yet another fraud perpetrated on the public, Gone is the distinction between public and private, so do not be surprised folks should a state or a municipality can fund schools or hospitals or rebuild infrastructure or save a bridge from collapsing under your feet. You can bet on it that these insurance lackeys will not eat up the debt even in little teaspoon filled drops. Legislators with the mentality of broom sweepers have done the work of insurance lobbists, and the beaucrats have signed off of bills blurring if not erasing walls of protection for the tax or ratepayers; they have wantonly swept away the pillars of protection against a financial meltdown. And what a fine mess they've made! The spiralling and seemingly out of control debt in all markets are straining the US and to some extent the world's economy. Herr Bush & his storm troopers in government haven't a klew as to what to do. Lower interest rates at the Fed are proving inadequate, if not meaningless. Have they forgotten Japan reduced loans to a zero per cent rate and that did not break the country of deflation? No the times are calling for radical measures--some of which you lift textbook like out of FDR's handbook on dealing with a world depression. The virus of liberal economics and greed which the sainted Ronald Reagan ushered in has infected everyone including Obama and Clinton Hillary...what can they do? Perhaps not much, but they better start thinking fast of staunching the deepening recession, which no one but the rare few, is denying...America is in deep do do to slip into the peurile language of papa Bush, and paralysis has set in among the ruling classes...where are the fresh ideas? Will necessity prove mother of invention? The US is ready for a new direction and to the electorate they are willing to follow any voice which calls for a change however inchoate the message...Now stagflation which Reagan sent the country into is resurfacing in the printed medium at least...terrible times call for desparate measure, but no one is desperate enough to call for radical reform!