boneyard bill, step inside

[boneyard bill]

Aren't corporations people though? That's what the conservatives keep telling me.

"Corporations are people, my friend." - M. Romney

As I noted Romney is a moderate, not a conservative.

You think citing one person settles the issue?

You think Mitt Romeny is the only one that believes that? Maybe you're unaware of the Hobby Lobby case and all the support the Right gave to a corporation seeking to exercise its first amendment rights?

Of course, we already know that court's have ruled that a corporation is an individual. What's your point?

 

[boneyard bill]

If we had done that in 2008 instead of bailing out the banks, the problem would have been solved by now and the economy would be back on track. But now the problem is much worse. Not only are the Wall Street banks insolvent, so is the Fed.

Saying the Fed can go insolvent is stupid. As long as the Fed can just print money it can't go insolvent.

Of course it can. The vast bulk of the Fed's liabilities are those dollars that it prints, and they cannot be redeemed for anything. So there is no danger that it will go belly-up. So the insolvency is just a technical issue. But that doesn't mean that it can't become insolvent if it's liabilities exceed its assets. And it would be quite an embarrassment for the Fed if it does.

 

[laughing dog]

Saying the Fed can go insolvent is stupid. As long as the Fed can just print money it can't go insolvent.

Of course it can. The vast bulk of the Fed's liabilities are those dollars that it prints, and they cannot be redeemed for anything. So there is no danger that it will go belly-up. So the insolvency is just a technical issue. But that doesn't mean that it can't become insolvent if it's liabilities exceed its assets. And it would be quite an embarrassment for the Fed if it does.

I don't anyone would notice, since everyone would be shivering while pigs fly over frozen hell.