Archive - Jun 2009 - Story

By initiating another weekly update column, Zero Hedge will start tracking the massively growing balance sheet of the Federal Reserve, aka the real financial black hole. At this point, when the Federal Reserve (beholden to nobody except Ben Bernanke) has taken effective control over treasury and agency purchases, as well as the financial, insurance, commercial real estate and automotive industries, this is in essence the only relevant balance sheet in the entire United States, and possibly the entire formerly capitalist world.

By initiating another weekly update column, Zero Hedge will start tracking the massively growing balance sheet of the Federal Reserve, aka the real financial black hole. At this point, when the Federal Reserve (beholden to nobody except Ben Bernanke) has taken effective control over treasury and agency purchases, as well as the financial, insurance, commercial real estate and automotive industries, this is in essence the only relevant balance sheet in the entire United States, and possibly the entire formerly capitalist world.

On March 30, 2009, President Obama laid out a framework for General Motors to achieve viability that required the Company to rework its business plan, accelerate its operational restructuring and make far greater reductions in its outstanding liabilities. After two months of significant management engagement, General Motors has developed such a plan and has already begun to make progress toward its achievement. The Company has also secured commitments of meaningful sacrifice from all of its major stakeholder groups, sacrifices sufficient for this plan to proceed forward.