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FINANCE

Fed Buys Up Baltic Ave, Marvin Gardens & Boardwalk

Fed Buys Up Baltic Ave, Marvin Gardens & Boardwalk
Ben Bernanke ponders his next move.

WASHINGTON (CAP) - The upheaval of the U.S. financial markets continued today as the Fed announced that the Federal Reserve Board will purchase ailing properties Baltic Ave, Marvin Gardens and Boardwalk for an unprecedented $3,650. This gives the federal government a controlling stake in strategic positions around the board.

"We are working closely with the other players to enhance the stability and orderliness of these key properties and minimize the disruption to the Monopoly economy," said Treasury Secretary Henry Paulson. "With the government's help, everyone will pass Go and will collect $200."

Officials decided they had to act lest the owner of the board's largest property mortgage that space for an undervalued $200, a move certain to put the game into a tailspin that would likely create a domino effect with other high-priced properties and bring on further despair for floundering players.

"When someone buys Boardwalk and starts building up real estate, it's pretty much game over," said credit analyst Mark Fitzpatrick. "But when that owner struggles, suddenly this game that has already lasted hours longer than you ever hoped is back at square one with no end in sight.

"For the sake of all the players in the game, the federal government really did make the right move here," added Fitzpatrick.

However, other financial analysts question the Fed's business acumen, pointing to the properties selected and the purchase price as a true mark of inexperience. Many believe the government should just stick with collecting the income and luxury tax and not get into private property ownership.

"Baltic Ave? Seriously?" said Brian Docker, a former SEC general counsel who is now a finance professor at Princeton. "At least step it up to Oriental Ave or Vermont Ave and pretend like you know what you're doing. Leave it to the government to pin the nation's hopes on Chance."

In the meantime, the Bush administration has announced a plan to spend up to $8000 on the "mother of all bailouts" by buying up each of the four railroads and essentially controlling the four sides of the board. President Bush is reportedly ecstatic about the impending move, saying he has "always wanted to ride the choo-choo."

- CAP News Staff
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