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Fed Steals the Plaque from The Statue of Liberty
Posted By Barry Ritholtz On March 27, 2008 @ 7:00 pm In Credit,Derivatives,Federal Reserve | Comments Disabled
I suggested that the Fed grabbed the plaque at the Statue of Liberty, and moved it to the Federal Reserve. They took this inscription:
"Give me your tired, your poor, your huddled masses yearning to breathe free, the wretched refuse of your teeming shore."
And turned it into this:
"Give me your tired paper, your poorly performing mortgages, your huddled derivatives yearning to trade free, the wretched refuse of your balance sheets."
-The Federal Reserve 
If you have a better explanation, I am all ears . . .
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2008/03/fed-steals-the-plaque-from-the-statue-of-liberty/
URLs in this post:
 Image: http://bigpicture.typepad.com/photos/uncategorized/2008/03/27/statueofliberty_2.jpg
 The Statue of Liberty: http://www.statueofliberty.org/Statue_History.html
 Image: http://bigpicture.typepad.com/photos/uncategorized/2008/03/27/federalreserve_fedreservebank_2.jpg
 The Federal Reserve: http://www.federalreserve.gov/
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