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Extra credit question
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David M. Gross
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Sep 20, 2008 20:22 PDT
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The U.S. Treasury is seeking (or has just assumed) the "authority to issue up
to $700 billion of Treasury securities to finance the purchase of troubled
assets. The purchases are intended to be residential and commercial
mortgage-related assets, which may include mortgage-backed securities and
whole loans" (I'm quoting from the Treasury Department's press release).
If the U.S. Treasury just seized/purchased your mortgage... now there's a
dilemma! What's a war tax resister to do?
-- Dave Gross
The Picket Line
http://sniggle.net/Experiment/
P.S. I also just read that when banks purchase FDIC (Federal Deposit
Insurance Corporation) insurance -- the thing that makes your bank deposits
safe in case of a bank collapse -- the federal government just takes the
money and puts it in the general fund along with everything else and spends
it on its usual set of rottenness. I'd never considered that particular
angle before. The deeper I look the more I start to feel like I'm going to
become one of those people who buries gold coins in the back yard in the dead
of night.
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