Thom Hartmann yesterday dropped a tantalizing hint as to the REAL beneficiaries of the Federal Reserve's largesse in bailing out Bear-Stearns, and it's NOT the Billionaire Brit who was trying to corner all the shares.
In fact, Hartmann implied the primary beneficiaries of the bail-out are Saudi and other Middle-Eastern potentates who are deeply invested in the USer real estate market through these derivative instruments which caused the biggest part of the recent melt-downs and stock/credit crises that have overtaken the industries, beginning way last summer and still metastacizing throughout the financial markets today.
I e-mailed him today (firstname.lastname@example.org) to enquire what his sources were for that assertion. I await an answer, and will post what I learn, here and elsewhere...
Discipline collar...(The New Yorker, natch)
3 days ago