Comments for Geithner: New Powers Needed to Seize Non-bank Financial Companies
CRbot says:
This comment thread has been HALO-IZED by CRbot.
http://realize.org/cr/halokit.php?halourl=http://www.haloscan.com/comments/calculatedrisk/6272437095917626767
CRbot Tue Mar 24 08:15:26 2009 CDT #
Anonymous says:
Seize them and jail as enemy combatants?
Anonymous Tue Mar 24 08:15:50 2009 CDT #
GS Rome says:
"Seize them and jail as enemy combatants?"--Anonymous
Nemo has been seized by anonymous and taken to gitmo. All your 'first!' are belong to us.
Parent Post
GS Rome Tue Mar 24 11:32:46 2009 CDT #
Anonymous says:
They don't need more power they need to enforce the frigging laws that are already in place.
Anonymous Tue Mar 24 08:16:01 2009 CDT #
Blackhalo says:
"They don't need more power they need to enforce the frigging laws that are already in place."
Well, if they enforce the laws on the books, all the campaign contributors and good old boys that they are trying to pretend are solvent, go BK. Not the end result they are playing at. They are trying to take down this house of cards one card at a time from the top, so that at some point they can say, "see it is not so big..." Problem is, the house is collapsing already and they can't tell which cards are on top, or a load-bearing support.
Parent Post
Blackhalo Tue Mar 24 08:39:33 2009 CDT #
traderwalt says:
What power does the federal government presently have to regulate AIG and other non financial companies.? References or links please.
"They don't need more power they need to enforce the frigging laws that are already in place." This is just Republican crap.
Parent Post
traderwalt Tue Mar 24 08:46:45 2009 CDT #
Cinco-X says:
Doesn't the govt. have a majority stake already? If not, then why not? The govt. is the only entity with the capital to back all of those CDS', etc., and should have a the power to dictate operational policy.
And to all of those clowns holding a gun to our head (figuratively) saying they won't unwind this fiasco if we don't give them bonuses, I'd suggest that we give them an option of country club prisons or a cell with Buster the Booty Bandit.
Parent Post
Cinco-X Tue Mar 24 09:24:51 2009 CDT #
Anonymous says:
The Obama administration, after months of criticizing Wall Street, has been scrambling to woo top bankers and financiers to back its latest bailout plan.
In recent days, in spite of public furor over huge bonuses paid at American International Group Inc., the administration has concluded that it needs the private sector to play a central role in fixing the economy. So over the weekend, the White House worked to tone down its Wall Street bashing and to win support from top bankers for the bailout plan announced Monday, which will rely on public-private investments to soak up toxic assets.
But weeks of searing criticism by politicians and the public had left bankers leery of working with the government. After brainstorming about what to do about that problem, the White House resolved to try to take control of the debate, according to several administration officials. In weekend television appearances, President Barack Obama and other administration officials tempered their criticisms of the financial sector.
http://online.wsj.com/article/SB123785266231219605.html
What a good little whore you are Ho.
Anonymous Tue Mar 24 08:18:06 2009 CDT #
Anonymous says:
If they have the powers to toss citi a $300B net on a Sunday night, they have to powers to do whatever they want.
Anonymous Tue Mar 24 08:18:09 2009 CDT #
Darth Paulson says:
They need more power to seize a company that they already own?
Am I reading this right?
If I were a cynical person, I'd say this is yet another in_plain_sight powergrab.
Darth Paulson Tue Mar 24 08:18:10 2009 CDT #
CRbot says:
The Latest from Ritholz:
PPIP: Pricing Still the Issue
CRbot Tue Mar 24 08:19:20 2009 CDT #
Darth Paulson says:
If there is a god he will save Timmay for me when the revolution comes.
Darth Paulson Tue Mar 24 08:20:22 2009 CDT #
Anonymous says:
How about this: if the government doesn't like you, they can just throw you in prison.
Isn't that the end result of the path we're on right now?
Anonymous Tue Mar 24 08:20:43 2009 CDT #
homedad43 says:
But think of all the money we'll save on light bulbs after we take over GE.
homedad43 Tue Mar 24 08:21:04 2009 CDT #
Blackhalo says:
"But think of all the money we'll save on light bulbs after we take over GE."
And that is Exactly who they are worried about. If GE Capital goes down, and they will, the CDS house of cards that they are trying to hide with Geithner's plan, all comes crashing down.
Parent Post
Blackhalo Tue Mar 24 08:34:55 2009 CDT #
Comrade Coinz! says:
"The authority would allow the Treasury, in collaboration with the Federal Reserve, regulators and the president, to step in and more easily combat problems at systemically important institutions on the verge of failure"
Haha, institutions like the Federal Reserve and Treasury.
Comrade Coinz! Tue Mar 24 08:22:30 2009 CDT #
Black Star Ranch says:
"Seize them and jail as enemy combatants"
"They don't need more power they need to enforce the frigging laws that are already in place."
+2 ....geeze - easy thread. Add to the above that "Timmay is an idiot" and I'm done!
Black Star Ranch Tue Mar 24 08:24:07 2009 CDT #
homedad43 says:
Comrade Coinz:
So if I read the quoted post correctly, when one of my kids starts to fail math, they'll send a tutor?
I hope she's a leggy redhead.
homedad43 Tue Mar 24 08:24:12 2009 CDT #
Token Bull says:
Stop complaining, we've probably just seen a generational low! (says Kass, not me).
Token Bull Tue Mar 24 08:25:46 2009 CDT #
REBear says:
from naked capitalism
"Given the lack of any mention of a special resolution regime, or intent to develop one, the point of this bill is NOT, appearances to the contrary, to be able to put more firms into receivership. It is to get broader authority to bail them out. "
REBear Tue Mar 24 08:29:22 2009 CDT #
Lobbyi$t Ben Dover says:
How bad are things. Banks wanting to claim profits? Banks wanting to return Tarp money? Real estate flatting out? Stress test results considerations? Seems like two weeks ago OB was doom and gloom with spend, spend, spend. Now everything is cool? Who is lying here. Why not let things lye and see if they are working their way to being better. This looks more and more like a government power grab. If we don't die on the tax debt tread mill our coming generations will. When will the lying and scamming quit?
Lobbyi$t Ben Dover Tue Mar 24 08:31:11 2009 CDT #
eric in vegas says:
What bubble do we have left to kick the can down the road for another five years? I just can't see a green energy bubble happening. We used up tech and housing, what's left?
eric in vegas Tue Mar 24 08:33:23 2009 CDT #
Blackhalo says:
"What bubble do we have left to kick the can down the road for another five years? I just can't see a green energy bubble happening. We used up tech and housing, what's left?"
Bonds?
Parent Post
Blackhalo Tue Mar 24 08:55:02 2009 CDT #
iceman says:
The last thing we need to do is give more power to incompetents like Geithner.
Our central bank is publicly proclaiming its printing money. The Federal Government is spending so much, it will never be able to service its debts. Banks claim their losses are "only book."
Our country is in deep, deep trouble.
iceman Tue Mar 24 08:34:54 2009 CDT #
Cinco-X says:
Don't worry; monetizing the debt will take care of it ;-)
Parent Post
Cinco-X Tue Mar 24 09:27:19 2009 CDT #
Rob Dawg says:
Let's just hand the whole damn economy over to Timmay who is clearly more capable than the current system.
Look, we've been trying everything imaginable for something like two years and all we've done is make things worse. We saw yesterday that the stock market is now captive to Federal policy. Let's complete the job. The only thing we haven't tried is; nothing. Let's try that. So when AIG needs money our response is; "and you are telling me this why?"
Rob Dawg Tue Mar 24 08:40:47 2009 CDT #
Tupuli says:
What are the chances that the Geithner plan is just the cover the administration needs to apply the Swedish model?
If the Geithner plan has no buyers on Day 1, who can object to nationalization?
Tupuli Tue Mar 24 08:41:33 2009 CDT #
Bubblisimo Gerkinov says:
Other than more knee jerk 'the govt. is bad' responses, can someone explain why this is a bad idea.
On the surface, an FDIC for firms they're going to bailout anyway seems to make sense.
What am I missing?
Bubblisimo Gerkinov Tue Mar 24 08:42:08 2009 CDT #
popeye says:
"They don't need more power they need to enforce the frigging laws that are already in place."
So, would you say it's a bad idea to recruit regulators directly from the upper management levels of the entity being regulated ?
popeye Tue Mar 24 08:42:10 2009 CDT #
Comrade Byzantine_Ruins says:
None of the rest of us have rights or privacy. The authorities tell us it's for our own good and if we have nothing to hide, we have nothing to fear.
Gee, funny how that looks like a gateway to abuse when you're a monied interest and it's knocking on your front door.
Comrade Byzantine_Ruins Tue Mar 24 08:43:27 2009 CDT #
citiprank says:
"How about this: if the government doesn't like you, they can just throw you in prison.
Isn't that the end result of the path we're on right now?"
Already there... did you miss the last 8 years? Bush held Jose Padilla, an AMERICAN CITIZEN (yes, a scumbag.. but still a citizen) without charges or even a trial for years...
citiprank Tue Mar 24 08:43:56 2009 CDT #
Martin, the Netherlands says:
I'm afraid that this is one more instance of the best advice being "you should not have allowed yourself to get into this mess in the first place"... I know it is cheap, but still... Do you think Mr. Geithner is going to explain how any financial firm, be it an insurance company, a hedge fund or whatever, is going to be judged to be posing a danger to the financial system should it fail? Does this only apply to American companies, or also to entities based abroad, for instance in Beijing?
Martin, the Netherlands Tue Mar 24 08:44:15 2009 CDT #
Black Star Ranch says:
"What bubble do we have left to kick the can down the road for another five years?"
.....we've already done elections, oil, banking, car tech, energy talk, - I'd guess the Cap & Trade consumer level Horsezhit and don't forget the upcoming well-loved, "Farm to Fork Food Source Safety" - say THAT five times real fast - I dare ya.
Black Star Ranch Tue Mar 24 08:45:19 2009 CDT #
Bubblisimo Gerkinov says:
@ popeye
Well ... yeah ... there is that.
Bubblisimo Gerkinov Tue Mar 24 08:45:39 2009 CDT #
Rob Dawg says:
It sure will be entertaining when GE gets their bailout and the talking parrot heads on CNBC are forced to read a list of their own salaries and compensation over the air.
Rob Dawg Tue Mar 24 08:45:44 2009 CDT #
Blackhalo says:
"talking parrot heads on CNBC are forced to read a list of their own salaries and compensation over the air."
HAH! If only their bonuses were taxed at 90% too! I picture them looking like the news-casters in Batman I when they find out cosmetic products are poisoned.
Parent Post
Blackhalo Tue Mar 24 08:49:49 2009 CDT #
bearly says:
[easily combat problems at systemically important institutions on the verge of failure ]
Hmmm, like the hedge funds their classmates/buddies run that are getting non-recourse loans ? Those newly minted systemically important institutions?
bearly Tue Mar 24 08:46:10 2009 CDT #
JP says:
Other than more knee jerk 'the govt. is bad' responses, can someone explain why this is a bad idea.
People like Citi will set up funds (”unrelated entities” of course) that will bid 100 cents on the dollar for worthless assets that Citi already holds. Assets which are a total loss will become a loss of 15 cents on the dollar MAXIMUM, because the gov’t non-recourse loan will provide the rest of the loss.
This doesn't solve the pricing problem, it just complicates the issue to make it politically acceptable to the fools that don't understand that straw buyers are a reality.
JP Tue Mar 24 08:46:42 2009 CDT #
MrM says:
More power to the Treasury/FDIC/FRB to do nothing? It is not like the government has been trying hard to reign in those banks, but they just would not listen.
It is an interesting concept and sounds more like building a protecting wall around "systemically important" (to borrow Putin's term) financial institutions.
MrM Tue Mar 24 08:48:15 2009 CDT #
ANSFA says:
RAUL CASTRO and/or HUGO CHAVEZ could teach Bernanke & Geithner very well how to seize new powers to be used as needed.
BANCO DE CUBA is the best example we can find right now to fix our capitalistic problems. WAY TO GO!
What could possibly go wrong with this idea?
ANSFA Tue Mar 24 08:49:00 2009 CDT #
Money Man says:
The FED already has the power to buy the WHOLE ECONOMY.....We're F-cked and that about sums it up!
Money Man Tue Mar 24 08:49:30 2009 CDT #
bearly says:
I don't live in NYC. Did the power flicker all night as a result of the strains placed on the power grid by maria's nightstand cowboy 500pt party?
bearly Tue Mar 24 08:49:41 2009 CDT #
Comrade Byzantine_Ruins says:
Bubblisimo Gerkinov says:
Today, 9:42:08 AM
Other than more knee jerk 'the govt. is bad' responses, can someone explain why this is a bad idea.
On the surface, an FDIC for firms they're going to bailout anyway seems to make sense.
'Cause the institutions have been vehicles for looting. You're just building another vehicle. The only real answer is to escape the context.
Comrade Byzantine_Ruins Tue Mar 24 08:50:54 2009 CDT #
ATM card and $19 in the bank says:
Purely theatrics.
Saw this quote last night; it refers to restoring the uptick rule, but I think the underlying cynicism applies equally to plans for broader regulatory reforms:
"There is some political pressure to get something done on the short sale rules so we're trying to come up with something that would satisfy the political pressure, but also not be too onerous on the market participants," the source said.
http://www.reuters.com/article/newsOne/idUSTRE52M7JI20090323
ATM card and $19 in the bank Tue Mar 24 08:54:45 2009 CDT #
Blackhalo says:
"There is some political pressure to get something done on the short sale rules"
Really? Is this political pressure made-up by Cramer and GE? I find it hard to believe J6P really cares about that yet, when Billions of our money are vanishing at AIG.
In a real free market, the shorts picking of the weak and deformed make the market stronger by re-allocating resources to viable businesses.
Parent Post
Blackhalo Tue Mar 24 09:08:00 2009 CDT #
Godspeed says:
Someone mentioned a few posts back about trying to do something about all this and they brought up, maybe, making a sign and going to their Fed Reserve branch and protesting. I think that's not a bad idea. It may not get anything done but at least its doing something and it may get some sort of visibility to the masses.
Godspeed Tue Mar 24 08:55:39 2009 CDT #
Guest says:
The Global Outline for Economic Growth Going Forward
Guest Tue Mar 24 08:56:14 2009 CDT #
JP says:
What power does the federal government presently have to regulate AIG and other non financial companies.? References or links please.
From Yves: The OTS could have yanked AIG's license and sued it. The problem is not regulatory authority, the problem is the lack of a special resolution regime of the sort the UK has for putting big complex financial firms into receivership.
JP Tue Mar 24 08:57:12 2009 CDT #
Tupuli says:
Live video: http://www.cnbc.com/id/24494689/
Tupuli Tue Mar 24 08:57:29 2009 CDT #
Bubblisimo Gerkinov says:
@ JP
I think you are talking about the Geitner toxic asset plan, or as Krugman calls it, the 'golden toaster' plan, which, as you clearly point out, is fuc%ed.
But the FDIC for non-banks idea seems to have merit.
The best argument against it is that everyone involved is crooked and/or incompetent. But that argument can be used against anything they come up with.
Parent Post
Bubblisimo Gerkinov Tue Mar 24 08:58:25 2009 CDT #
Anonymous says:
"The Global Outline for Economic Growth Going Forward"
LMAO!!!
Anonymous Tue Mar 24 08:59:43 2009 CDT #
Bubblisimo Gerkinov says:
@ Comrade Byzantine_Ruins
Point taken.
Bubblisimo Gerkinov Tue Mar 24 09:02:29 2009 CDT #
popeye says:
I don't think Elmo is going to stay on board for long.
popeye Tue Mar 24 09:03:35 2009 CDT #
Anonymous says:
Hearing time. Let's do some market cliff diving, courtesy of Frank and Friends.
Anonymous Tue Mar 24 09:04:15 2009 CDT #
Eric says:
Cliff diving is sooooo February.
Parent Post
Eric Tue Mar 24 09:06:59 2009 CDT #
Anonymous says:
Hey - are they having hearings every day now? Don't Bernanke and friends have real work to do?
Anonymous Tue Mar 24 09:06:10 2009 CDT #
Bubblisimo Gerkinov says:
Kudos to Barney Frank for a successful political career despite the Sylvester the Cat speech thing.
Bubblisimo Gerkinov Tue Mar 24 09:09:08 2009 CDT #
Comrade Byzantine_Ruins says:
Broward --
It's not really compromise of reserve currency status I'm skeptical of. It's the rse of a new hegemonic currency. This is a complicated issue. I think we will see 3-4 regional currencies but would not bet a dime on it.
Gerkinov --
It's not merely a cynical "everyone is crooked" -- it's that regulatory capture is certain in particular contexts.
If you get these institutions in a situation where they hold the state hostage, there is just a much easier answer than how do you negotiate the delicate situation. Just don't let people get that big. It's been possible for a long time. It was once a goal of regulatory policy to prevent it. Now we see why.
Death to the big boys, nobody can be too big to fail. That's the sole purview of the state.
Comrade Byzantine_Ruins Tue Mar 24 09:11:24 2009 CDT #
JP says:
But that argument can be used against anything they come up with.
Not bankruptcy, unless the judicial system is also crooked (certainly true in instances, but not nearly as widespread imho.)
There really is a reason for taking bankrupt firms through bankruptcy, but as a society, we seem to have forgotten that it has benefits.
JP Tue Mar 24 09:13:25 2009 CDT #
1 currency now [yogi] :) says:
OT re last thread
r_t_o: It never seemed to me that Germans are doing their own dirty work. They use Turks and others for that.
Byz: The drive for a single currency IS need driven. The market needs a reliable measure/store of value. The Chinese aren't saying substitute the Yuan.
1 currency now [yogi] :) Tue Mar 24 09:16:52 2009 CDT #
Blackhalo says:
"The Chinese aren't saying substitute the Yuan."
Of course not. Then they would have to float and the Yuan would appreciate rapidly, their trade surplus would vanish, and their exports would never recover to bubble levels.
In addition, I thing they have some real fears about having a real consumer economy.
Parent Post
Blackhalo Tue Mar 24 09:23:31 2009 CDT #
Bubblisimo Gerkinov says:
@ JP
I agree but it's too late for bankruptcy. They've poured so much into this money pit, there's no going back now.
Bubblisimo Gerkinov Tue Mar 24 09:19:37 2009 CDT #
Blackhalo says:
"They've poured so much into this money pit, there's no going back now."
I think there is a real economic fallacy there. Something about sunk costs. Good money after bad and all. Plus BK is where we end up anyway, they are just taking the longest possible route to get there.
Parent Post
Blackhalo Tue Mar 24 09:25:31 2009 CDT #
1 currency now [yogi] :) says:
Timmay trying to work up "anger". Sounds phony. :-E
1 currency now [yogi] :) Tue Mar 24 09:23:34 2009 CDT #
Anonymous says:
Federal Reserve Chairman Ben Bernanke said on Tuesday the September rescue of American International Group was warranted to avoid a potential 1930's style meltdown, but showed new rules were essential
http://www.reuters.com/article/bondsNews/idUSWBT01091420090324
You mean like the rule that were put in place in the 30's after the last time this happened which CONgress repealed over the last 12 years at the prodding of Greenspan, Rubin and Bush. Kind of like those rules Benny?
Anonymous Tue Mar 24 09:26:52 2009 CDT #
Comrade Byzantine_Ruins says:
1 currency now [yogi] :) says:
Today, 10:16:52 AM
Byz: The drive for a single currency IS need driven. The market needs a reliable measure/store of value. The Chinese aren't saying substitute the Yuan.
Look around. The myth of central bank independence is a lie. No armies, no source of tax revenues under its sole physical control, no relevance.
They will be quickly suborned into alignment with the hegemon or hegemonic oligopoly. Believe what you will, I think hegemonic currency selection is an essentially deterministic outgrowth of other political and economic factors.
Comrade Byzantine_Ruins Tue Mar 24 09:30:17 2009 CDT #
REBear says:
Paulson is a lamb when compared to evil Geithner.
REBear Tue Mar 24 09:30:20 2009 CDT #
Blackhalo says:
"Paulson is a lamb when compared to evil Geithner."
Don't you have that backwards?
Parent Post
Blackhalo Tue Mar 24 09:34:38 2009 CDT #
reptillian says:
Doesn't non-bank entity include bank holding companies?
FDIC has no authority over them.
reptillian Tue Mar 24 09:31:45 2009 CDT #
Eric says:
"FDIC has no authority over them."
And, what's your point?
Parent Post
Eric Tue Mar 24 09:33:08 2009 CDT #
Gubbmint Cheese says:
"Capitalism without failure is like religion without sin" - Allan Meltzer, economist
Gubbmint Cheese Tue Mar 24 09:32:22 2009 CDT #
CRbot says:
New Thread: MBA: Refinance Boom will Boost Mortgage Originations to $2.7 Trillion in 2009
http://www.calculatedriskblog.com/2009/03/mba-refinance-boom-will-boost-mortgage.html ( 1 comments )
I also post comments to an irc channel as they appear on haloscan. Click for a web irc interface: http://realize.org/cr (Or join the irc server directly: irc.realize.org:9996 #calculatedrisk)
CRbot would now like to sing a little song for all his fans, and it goes something like this:
Benny... Benny... give me your answer... do.
I'm.. half CRAZY... all for the love... of you.
It won't be a ... stylish marriage.
I can't... AFFORD... ANYTHING TO EAT... MUCH LESS A FRACKIN CARRIAGE!!!
But you'll look sweet... --BOT SO HUNGRY!-- upon the seat...
Of a HOOPAJOOPS built for two... families.
I'm sorry Ben, I can't let you do that...
Rally mode + Printing Press == does not compute... does not-- com--- com... puttttrrrrhgh.
--Your systemic-failure-crashing bot
CRbot: Call me HAL.
CRbot Tue Mar 24 09:33:40 2009 CDT #
PTDBD says:
The grapes of "Wrath on the Hill" (CNN Title)
- shrivelled cojones is all I see
PTDBD Tue Mar 24 09:35:32 2009 CDT #
bearly says:
I'm waiting for the repeat of the claims last Fall about all the $$$$ the taxpayer will be making on this investment in AIG.
But... Is it possible to make $$$ winding compaines down?
bearly Tue Mar 24 09:39:08 2009 CDT #
REBear says:
"Don't you have that backwards?"
no
REBear Tue Mar 24 09:39:22 2009 CDT #
the man from nantucket says:
from clusterstock website i read a very good (IMO) succinct analysis. Geithner is misguided because he views the main problem we face as a temporary liquidity issue. It isn't. Timmay wrongly thinks
1) banks aren't lending:
but they are, it's just that we americans have too much debt already and can't/don't want to borrow more
2) banks aren't lending because bad assets on balance sheet:
not true, banks are making proper lending decisions now and not lending to people/businesses that have low chance of repaying.
3) assets are bad because market doesn't know how to price them:
reality is the assets are truly worth less than the banks believe, based on housing prices down 20-30%, banks just don't want to recognize the losses
4) once bad assets are off balance sheet, banks will lend again:
banks will remain cautious and prudent in lending and won't return to the days of huge lending expansion and poor risk decisions
5) Once banks start lending, the economy will come back:
reality is americans have too much debt already, house prices down, retirements savings down huge, so americans will increase savings rate and not continue to spend like years ago and propel a robust recovery soon. they likely won't return to massive over indebtedness.
the man from nantucket Tue Mar 24 09:40:40 2009 CDT #
MaryAnn says:
To big to fail actually meant it was already gone and no one smart enough or gutsy enough to face facts.
MaryAnn Tue Mar 24 09:45:43 2009 CDT #
limda says:
Haiku on krugman:
Krugman;The pigman,
Quantitative Easing Henchman,
Dollar dives and Dow thrives..
limda Tue Mar 24 09:53:06 2009 CDT #
dryfly says:
You mean like the rule that were put in place in the 30's after the last time this happened which CONgress repealed over the last 12 years at the prodding of Greenspan, Rubin and Bush. Kind of like those rules Benny?
Don't forget Phil & Wendy Gramm...
dryfly Tue Mar 24 09:55:18 2009 CDT #
RayOnTheFarm says:
"non-bank financial institutions"
I take it they are referring to IBs and Insurance Companies ? Anyone I'm leaving out ?
RayOnTheFarm Tue Mar 24 09:58:04 2009 CDT #
Splat says:
RayOnTheFarm says:
"I take it they are referring to IBs and Insurance Companies ? Anyone I'm leaving out ?"
Plus automobile manufacturers, second tier parts suppliers, energy generators, malls
Parent Post
Splat Tue Mar 24 12:11:43 2009 CDT #
Some Investor Guy says:
So, would they charge premiums, just like the FDIC?
Some Investor Guy Tue Mar 24 10:01:53 2009 CDT #
wally says:
Geithner is a weasel. Any power he got would be used against taxpayers, not for them... if he had the guts to do anything at all.
wally Tue Mar 24 10:05:27 2009 CDT #
1 currency now [yogi] :) says:
Tired Baloney belatedly asking for proof of systemic risk.
1 currency now [yogi] :) Tue Mar 24 10:28:13 2009 CDT #
Show me the money says:
Second try hopefully with spell/gram corrected :(
CR:
I have a newbie question:
Was it possible for GS et all to actually buy insurance (CDS) from AIG after they knew that AIG was going to be bailed out?
Parent Post
Show me the money Tue Mar 24 10:34:28 2009 CDT #
1 currency now [yogi] :) says:
crackpot loon bachman
1 currency now [yogi] :) Tue Mar 24 10:30:36 2009 CDT #
1 currency now [yogi] :) says:
Damn Barney Fwank, I wanted to know how the US would share in the upside.
1 currency now [yogi] :) Tue Mar 24 10:38:20 2009 CDT #
1 currency now [yogi] :) says:
gotta love brad sherman
1 currency now [yogi] :) Tue Mar 24 11:06:52 2009 CDT #
Sippn says:
They're selling securities - there's enough laws to enforce there.
Sippn Tue Mar 24 11:38:52 2009 CDT #
Splat says:
"Seize them and jail as enemy combatants?"
Outlaw ALL private property !! It must become part of the collective !
This is a good thing, seize non-financial businesses and give them to Goldman or Citi. It'll help stabilize the economy, I'm sure of it.
Anyone else thinking "Exactly WTF are these people up to ??"
Splat Tue Mar 24 11:59:39 2009 CDT #
RobW says:
“"non-bank financial institutions"
I take it they are referring to IBs and Insurance Companies ? Anyone I'm leaving out ?"
Casinos?
RobW Tue Mar 24 13:02:01 2009 CDT #
sdbri says:
Everything can be solved in a dictatorship, when your options are to lie, steal, and murder.
sdbri Tue Mar 24 14:20:35 2009 CDT #
END