MARKET TICKER ARTICLE BY KARL DENNINGER

http://market-ticker.denninger.net/archives/1294-For-Want-Of-An-Or-Else.html Wednesday, August 5. 2009 Posted by Karl Denninger in Musings at 08:22 For Want Of An "Or Else" Have you ever wondered why The Federal Reserve feels perfectly free to break the law as set forth in Sections 13 and 14, buying assets such as CDOs from Lehman and Bear Stearns, or not-really-full-faith-and-credit MBS from Fannie and Freddie, even though doing so is in fact prohibited by The Federal Reserve Act? THERE'S LOTS MORE...