End of America

Gov't INSANITY: Obama is now planting the seeds for the government's next monstrous bailout

From Bruce Krasting:
The Treasury Department came out with some proposals today on how to fund infrastructure investments. Nothing new; an infrastructure bank that would borrow money outside of the government using government guarantees, and a newfangled debt instrument called:

America Fast Forward Bonds
I love the name. AFFs will be the Street name.
AFFs will be structured like BABs (Build America Bonds). This is a hybrid security that will be issued by a Muni. It will be taxable (unlike regular munis). It will therefore have a premium yield to non-taxable muni paper.
The Federal government will pay (1/3) of the interest due on the bonds. There will be no direct Federal Guarantee on the bonds, but there will be a perception that the Feds are behind the notes.
The Transportation Infrastructure Finance and Innovation Act (TIFIA) will be expanded and it will provide – "loan guarantees, and lines of credit to regionally or nationally significant transportation projects." Loan guarantees and lines of credit are off balance sheet financing. (Note: What is TIFIA? Never heard of it.)
The infrastructure bank the President wants is also going to be involved with raising money outside of the Federal budget and debt limits. According to the White House the new bank will "invest through loans and loan guarantees."
All of the proposed borrowing will be...
More government stupidity: 
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