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Hussman Funds – Weekly Market Comment: Talking Points for the “Occupy Wall Street” Protesters – October 10, 2011.

From a real economist.

  • “Failure” only means that corporate bondholders don’t get every penny
  • The Federal Reserve’s purchases of Fannie Mae’s and Freddie Mac’s debt obligations were illegal
  • Creating shell companies to buy Wall Street’s bad assets is not “discounting,” and was therefore also illegal
  • The skewed distribution of wealth in the U.S. is worsened by policies that misallocate capital and divert public funds to bail out investments that have already gone bad.