Announcement

Collapse
No announcement yet.

Bailout Bonanza

Collapse
X
Collapse
 
  • Page of 29
  • Filter
  • Time
  • Show
Clear All
new posts
Previous 1 2 8 9 10 11 12 13 14 15 16 22 29 template Next
  • #166
    Originally posted by Colonâ„¢
    $700 billion or 5% of GDP, assuming this would have been the ultimate net costs (which was improbable), is actually fairly cheap compared to the costs of resolving bank crises elsewhere in the past. Japan spend a quarter of its GDP to get things back in order, exactly because it put off action for so long.
    You're assuming that this is all that will be needed. It's just the tip of the iceberg. As we saw with the S&L bailouts and the bailouts in the mid 90s, it's going to cost a lot more than this. In the long run, it will probably cost at least twice as much.
    Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...

    Comment

    • #167
      Originally posted by DanS
      You know, this might be the best argument against Social Security privatization. With everybody's retirement relying on these large 401(k)s, all politicians will want to throw public money at Wall Street when it catches a cold.
      D'uh! That's what opponents of privatization have been saying all along.
      Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...

      Comment

      • #168
        If so, they haven't articulated the argument well at all.
        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, 1891

        Comment

        • #169
          Anyway, there's a lot of cash on the sidelines waiting for good deals. Why are we so scared of these people finding good deals?
          Those people might find themselves unable to do deals. And I don't see why Citigroup or BoA couldn't get wiped out as well if it happened to AIG and Wall Street. Maybe they'd get rescued over by Deutsche Bank or Barclays but why feel any more assured about them?

          Look, the point of a systemwide intervention is not to prop up asset prices. They need to fall and the financial industry needs to shrink. The problem is that the correction is taking place in a violent fashion and threatens to take everything down. Intervention would do much to instill order in the process.
          DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

          Comment

          • #170
            The systemwide intervention that was proposed was precisely to prop up asset prices -- of mortgage-backed securities. Maybe you want a different program?
            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, 1891

            Comment

            • #171
              Originally posted by Comrade Snuggles
              D'uh! That's what opponents of privatization have been saying all along.
              BS.

              Comment

              • #172
                OMG teh kuci don't believe :O

                try google.
                I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                - Justice Brett Kavanaugh

                Comment

                • #173
                  Originally posted by DanS
                  The systemwide intervention that was proposed was precisely to prop up asset prices -- of mortgage-backed securities. Maybe you want a different program?
                  How can you prop up the price of something for which there currently is no market? Stop kidding yourself, sooner or later authorithies will act to get those illiquid securities out of banks' balance sheets.
                  DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

                  Comment

                  • #174
                    I can't believe you're buying that crap, Colon. The banks just don't want to see what the clearing price really is and would prefer to make believe, as the gov't bails their asses out.

                    If they price these assets to move, they'll move.
                    Last edited by DanS; September 29, 2008, 22:33.
                    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, 1891

                    Comment

                    • #175
                      Originally posted by Colonâ„¢
                      How can you prop up the price of something for which there currently is no market?
                      By buying them

                      Works until the money runs out...

                      Comment

                      • #176
                        Belgium, France and Luxemburg are putting €6.4 billion into Dexia at a price of €9.9/share or a 35% stake. Closing price yesterday was €7/share.
                        DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.

                        Comment

                        • #177
                          Again, your gov'ts sure are being generous.
                          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, 1891

                          Comment

                          • #178
                            Here's what I don't get about this whole thing. (Okay, one thing I don't get about this whole thing... economics ain't my bag.)

                            One of the mantras we keep hearing on the news from financial gurus and pundits and politicians is that these companies "are too big to fail."

                            In the meantime, bank after bank after bank is getting bought up and merged with others, creating even bigger banks. So what happens if these new monsters fail 10, 20, 50 years from now?
                            "My nation is the world, and my religion is to do good." --Thomas Paine
                            "The subject of onanism is inexhaustable." --Sigmund Freud

                            Comment

                            • #179
                              Originally posted by Guynemer
                              In the meantime, bank after bank after bank is getting bought up and merged with others, creating even bigger banks. So what happens if these new monsters fail 10, 20, 50 years from now?
                              We elect Comrade McSnuggles as president.
                              I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                              - Justice Brett Kavanaugh

                              Comment

                              • #180
                                US taxpayer will continue to fund them, until US taxpayer crashes too and than you will have a real recession and not just panic like now
                                Socrates: "Good is That at which all things aim, If one knows what the good is, one will always do what is good." Brian: "Romanes eunt domus"
                                GW 2013: "and juistin bieber is gay with me and we have 10 kids we live in u.s.a in the white house with obama"

                                Comment

                                Previous 1 2 8 9 10 11 12 13 14 15 16 22 29 template Next
                                Working...
                                X