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Originally posted by Colon™
I expect the Fed will soon feel free to lower rates again.
I expect the Fed will soon feel free to lower rates again.
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Perhaps as early as tommorow. Futures are now running at a 96% chance of a rate cut before year end."I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003 -
For those of you looking for bad consequences of the Freddie and Fannie takeovers, Lehman gives you a good example. I am hearing that they held close to $600 million in GSE stocks that was tanked by the takeover. That appears to be the final straw that wiped out their balance sheet."I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003Comment
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Heh. I shouldn't have said anything about my company's stock. Still not awful, but now it's down noticeably (that ticker keeps on rolling I guess).
-Arriangrog want tank...Grog Want Tank... GROG WANT TANK!
The trick isn't to break some eggs to make an omelette, it's convincing the eggs to break themselves in order to aspire to omelettehood.Comment
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Bush and Paulson have released a statement: "The economy is fundamental strong."
God save us all.
Last edited by Zkribbler; September 15, 2008, 16:52.Comment
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Just to make it clear, the FDIC does not 'save the bank'. It simply reimburses account holders their savings if the bank goes under.Originally posted by DanS
No, not possible. The FDIC (Federal Deposit Insurance Corporation) is obligated to step in.
A law set up due to the Great Depression.<Reverend> IRC is just multiplayer notepad.
I like your SNOOPY POSTER! - While you Wait quote.Comment
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Vict... er... the recovery is just around the cornerOriginally posted by Zkribbler
Bush and Paulson have released a statement: "The economy is fundamental strong."
God save us all.
"The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists."
-Joan RobinsonComment
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Tomorrow may represent a good chance to get back into China. FXI was down 7% today and is now trading at the high range of reasonable prices.
I assume that Asia will just about crash this evening.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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See, I told you that the market would crash if Lehman is not saved in any fashion.
But I think the real worry is about AIG, who may become the first victim of the CDS chain reaction.Comment
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Actually if they told the truth we'd be ****ed.Originally posted by Zkribbler
Bush and Paulson have released a statement: "The economy is fundamental strong."
God save us all.
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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Good callOriginally posted by One_more_turn
See, I told you that the market would crash if Lehman is not saved in any fashion.
But I think the real worry is about AIG, who may become the first victim of the CDS chain reaction.
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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I'm not sure about this, but I can't imagine depositers getting a check for their deposit amt. I believe that a buyer is found for the bank. The financing is performed by the FDIC.Originally posted by snoopy369
Just to make it clear, the FDIC does not 'save the bank'. It simply reimburses account holders their savings if the bank goes under.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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No, the FDIC literally insures deposits up to $100,000. It doesn't do anything for the bank directly, other than limit panic-induced bank runs.Originally posted by Kidicious
I'm not sure about this, but I can't imagine depositers getting a check for their deposit amt. I believe that a buyer is found for the bank. The financing is performed by the FDIC."The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists."
-Joan RobinsonComment
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They can do that, but there's this other way they can handle it, and I think they would do that in a serious crisis.Originally posted by Victor Galis
No, the FDIC literally insures deposits up to $100,000. It doesn't do anything for the bank directly, other than limit panic-induced bank runs.
http://en.wikipedia.org/wiki/Fdic#Re...nsolvent_banksPurchase and Assumption Method (P&A), in which all deposits (liabilities) are assumed by an open bank, which also purchases some or all of the failed bank's loans (assets). There are several types of P&As: the Basic P&A: assets that pass to acquirers generally are limited to cash and cash equivalents. The Loan Purchase P&A: the winning bidder assumes a small portion of the loan portfolio, sometimes only the installment loans, in addition to the cash and cash equivalents. The Modified P&As: the winning bidder purchases the cash and cash equivalents, the installment loans, and all or a portion of the mortgage loan portfolio. The P&As with Put Options: to induce an acquirer to purchase additional assets, the FDIC offered a “put” option on certain assets that were transferred. The Whole Bank P&As: Bidders were asked to bid on all assets of the failed institution on an “as is,” discounted basis (with no guarantees). This type of sale was beneficial to the FDIC for three reasons. First, loan customers continued to be served locally by the acquiring institution. Second, the whole bank P&A minimized the one-time FDIC cash outlay, and the FDIC had no further financial obligation to the acquirer. Finally, a whole bank transaction reduced the amount of assets held by the FDIC for liquidation. The Loss Sharing P&As: these use the basic P&A structure except for the provision regarding transferred assets. Instead of selling some or all of the assets to the acquirer at a discounted price, the FDIC agrees to share in future loss experienced by the acquirer on a fixed pool of assets.[11]I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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This reminds me of Argentina 7 years ago.
At least most people will not lose their savings.I need a foot massageComment
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I don't pretend to speak for DanS, and if you think most people at Lehman are like DanS you are completely stupid. Which we know to be true. So there you go.Originally posted by Kidicious
Interesting you should put it that way. If you haven't noticed, please look at the first quote in my signature....
At least I don't get entertainment from profiting off of the suffering of others. That's what these guys do. Now do you see the entertainment?"The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
Ben Kenobi: "That means I'm doing something right. "Comment
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