For the life of me I can't figure this out.

"True to its name, the High-Grade Structured Credit Strategies Enhanced Leverage Fund made liberal use of borrowed money. People familiar with the fund say many investments were leveraged 3 to 1, meaning for every dollar invested in a risky bond, the fund would borrow another three."

Now the Bush Administration's Bernanke has taken these subprime mortgages as security to "loan" Bear Stearns money so as to prevent these investors from losing money. Or too much money.

As TB pointed out, we've gone from the gold standard to the subprime mortgage standard.

Where were these people when they were making the big bucks? Lobbying for even less taxes, that's where.

Arf