Wow… the gov’t is sellin off their shares of the last big bank they had stock in.
So all you crazy fucks that said “They’re taking over the banks! We’re turning socialist!” were wrong- the government, acting like good capitalists, are selling the shit for a profit.
I hope the T-Nation Militia will remember this next time they cry that the sky is falling.
Anyone with half a brain knew this was a necessary, emergency, and temporary measure…
[quote]thefederalist wrote:
Anyone with half a brain knew this was a necessary, emergency, and temporary measure…[/quote]
This is kinda fun. It’s like that bag of smashed assholes Geithner is actually telling me I’m stupid to my face.
mike
The big question is who will buy it?
[quote]Rockscar wrote:
The big question is who will buy it?
[/quote]
plenty of people will be interested. it’s a gigantic bank with a ton of assets and responsible for A LOT of capital.
[quote]thefederalist wrote:
[quote]Rockscar wrote:
The big question is who will buy it?
[/quote]
plenty of people will be interested. it’s a gigantic bank with a ton of assets and responsible for A LOT of capital. [/quote]
No shit sherlock.
[quote]Rockscar wrote:
[quote]thefederalist wrote:
[quote]Rockscar wrote:
The big question is who will buy it?
[/quote]
plenty of people will be interested. it’s a gigantic bank with a ton of assets and responsible for A LOT of capital. [/quote]
No shit sherlock. [/quote]
I thought you were suggesting no one would buy it, watson.
Let’s see…
The Federal Reserve, under the direction of Easy Al Greenspan, creates a crack addicted monster out of Wall Street with virtually “free” money. The plague spreads throughout the economy in the form of easy credit, where all you have to do is fog a mirror to get a housing loan, car loan or credit card above your ability to pay.
Fast forward to 2007. With the creation of CDO’s and other such derivatives, the economy is in the final phase of its speedball driven high and the inevitable crash is upon us. The major banks are caught with their pants down. Monetary velocity can no longer outrun the implosion. The crash begins.
Washington panics. Wall Street panics. They look for a hero. In gallops Happy Hank Paulson, one of the architects of the debacle. And lucky us, he has a plan. No need to hold those responsible accountable for their actions. Just transfer the liabilities to the tax payer. Move quick, make it dramatic, and then proclaim that the quick action was the only solution and that we have been saved from total destruction. Hank gives himself, Ben and the boys, Nancy, Henry, etc a big pat on the back and poses for the cameras.
But wait. We still have a problem. Hank, Ben and company have written one ginormous check out of Joe Public’s account. Right now he is dazed and confused, but in time he will come out from under the ether and if things aren’t turned around he is going to be pissed.
No problem. Just get Ben and the boys to continue cutting rates to zero, borrow a whole lot of money from our “friends” in China, and throw this money back at Joe Public in ingenuous ways such as “cash for clunkers.” Extend unemployment benefits (after all, its just as good as the job you just lost, right?), and continue talking up “green shoots”. In the mean time, we will encourage stock market speculation, especially in banks and credit card companies, buy loaning hedge funds and other entities all they want at true zero as long as they use the money to buy bank stocks and credit card company’s stock. Pump, pump and pump some more till you break the back of the shorts and they are forced to cover. Then step back and watch the stocks of the banks elevate. After all, we have this down to an art by now.
Once we get the prices artificially elevated enough, we will turn around and sell the shares we bought with Joe Public’s money back to Joe Public individually at these elevated prices and tell him how great a deal he got and how we did the right thing from the beginning.
But wait again. Aren’t we just creating another secondary credit bubble that is doomed to pop again?
Screw it. We’ll just divert the Joe Public’s attention again with big power grabs, like national health care for example. Then maybe we will push through some massive immigration laws to insure ourselves enough fresh and uninformed voters to buy us time to cook up our next scam.
Yeah. Good times…
You know Federalist, I’ve come to expect nothing more than the ignorant drivel that comes out of you each and every time you post.
Irish, while we are on opposite sides of the political spectrum, I expect more from you.
You mean Glenn Beck was WRONG?!
[quote]JEATON wrote:
Let’s see…
The Federal Reserve, under the direction of Easy Al Greenspan, creates a crack addicted monster out of Wall Street with virtually “free” money. The plague spreads throughout the economy in the form of easy credit, where all you have to do is fog a mirror to get a housing loan, car loan or credit card above your ability to pay.
Fast forward to 2007. With the creation of CDO’s and other such derivatives, the economy is in the final phase of its speedball driven high and the inevitable crash is upon us. The major banks are caught with their pants down. Monetary velocity can no longer outrun the implosion. The crash begins.
Washington panics. Wall Street panics. They look for a hero. In gallops Happy Hank Paulson, one of the architects of the debacle. And lucky us, he has a plan. No need to hold those responsible accountable for their actions. Just transfer the liabilities to the tax payer. Move quick, make it dramatic, and then proclaim that the quick action was the only solution and that we have been saved from total destruction. Hank gives himself, Ben and the boys, Nancy, Henry, etc a big pat on the back and poses for the cameras.
But wait. We still have a problem. Hank, Ben and company have written one ginormous check out of Joe Public’s account. Right now he is dazed and confused, but in time he will come out from under the ether and if things aren’t turned around he is going to be pissed.
No problem. Just get Ben and the boys to continue cutting rates to zero, borrow a whole lot of money from our “friends” in China, and throw this money back at Joe Public in ingenuous ways such as “cash for clunkers.” Extend unemployment benefits (after all, its just as good as the job you just lost, right?), and continue talking up “green shoots”. In the mean time, we will encourage stock market speculation, especially in banks and credit card companies, buy loaning hedge funds and other entities all they want at true zero as long as they use the money to buy bank stocks and credit card company’s stock. Pump, pump and pump some more till you break the back of the shorts and they are forced to cover. Then step back and watch the stocks of the banks elevate. After all, we have this down to an art by now.
Once we get the prices artificially elevated enough, we will turn around and sell the shares we bought with Joe Public’s money back to Joe Public individually at these elevated prices and tell him how great a deal he got and how we did the right thing from the beginning.
But wait again. Aren’t we just creating another secondary credit bubble that is doomed to pop again?
Screw it. We’ll just divert the Joe Public’s attention again with big power grabs, like national health care for example. Then maybe we will push through some massive immigration laws to insure ourselves enough fresh and uninformed voters to buy us time to cook up our next scam.
Yeah. Good times…
You know Federalist, I’ve come to expect nothing more than the ignorant drivel that comes out of you each and every time you post.
Irish, while we are on opposite sides of the political spectrum, I expect more from you. [/quote]
Cool story bro
[quote]PAINTRAINDave wrote:
[quote]JEATON wrote:
Let’s see…
The Federal Reserve, under the direction of Easy Al Greenspan, creates a crack addicted monster out of Wall Street with virtually “free” money. The plague spreads throughout the economy in the form of easy credit, where all you have to do is fog a mirror to get a housing loan, car loan or credit card above your ability to pay.
Fast forward to 2007. With the creation of CDO’s and other such derivatives, the economy is in the final phase of its speedball driven high and the inevitable crash is upon us. The major banks are caught with their pants down. Monetary velocity can no longer outrun the implosion. The crash begins.
Washington panics. Wall Street panics. They look for a hero. In gallops Happy Hank Paulson, one of the architects of the debacle. And lucky us, he has a plan. No need to hold those responsible accountable for their actions. Just transfer the liabilities to the tax payer. Move quick, make it dramatic, and then proclaim that the quick action was the only solution and that we have been saved from total destruction. Hank gives himself, Ben and the boys, Nancy, Henry, etc a big pat on the back and poses for the cameras.
But wait. We still have a problem. Hank, Ben and company have written one ginormous check out of Joe Public’s account. Right now he is dazed and confused, but in time he will come out from under the ether and if things aren’t turned around he is going to be pissed.
No problem. Just get Ben and the boys to continue cutting rates to zero, borrow a whole lot of money from our “friends” in China, and throw this money back at Joe Public in ingenuous ways such as “cash for clunkers.” Extend unemployment benefits (after all, its just as good as the job you just lost, right?), and continue talking up “green shoots”. In the mean time, we will encourage stock market speculation, especially in banks and credit card companies, buy loaning hedge funds and other entities all they want at true zero as long as they use the money to buy bank stocks and credit card company’s stock. Pump, pump and pump some more till you break the back of the shorts and they are forced to cover. Then step back and watch the stocks of the banks elevate. After all, we have this down to an art by now.
Once we get the prices artificially elevated enough, we will turn around and sell the shares we bought with Joe Public’s money back to Joe Public individually at these elevated prices and tell him how great a deal he got and how we did the right thing from the beginning.
But wait again. Aren’t we just creating another secondary credit bubble that is doomed to pop again?
Screw it. We’ll just divert the Joe Public’s attention again with big power grabs, like national health care for example. Then maybe we will push through some massive immigration laws to insure ourselves enough fresh and uninformed voters to buy us time to cook up our next scam.
Yeah. Good times…
You know Federalist, I’ve come to expect nothing more than the ignorant drivel that comes out of you each and every time you post.
Irish, while we are on opposite sides of the political spectrum, I expect more from you. [/quote]
Cool story bro[/quote]
Actually it was, JEATON knows his shit dood.
V
[quote]thefederalist wrote:
[quote]Rockscar wrote:
[quote]thefederalist wrote:
[quote]Rockscar wrote:
The big question is who will buy it?
[/quote]
plenty of people will be interested. it’s a gigantic bank with a ton of assets and responsible for A LOT of capital. [/quote]
No shit sherlock. [/quote]
I thought you were suggesting no one would buy it, watson.[/quote]
Watson, don’t you think the Chineese will buy it?
[quote]Rockscar wrote:
[quote]thefederalist wrote:
[quote]Rockscar wrote:
[quote]thefederalist wrote:
[quote]Rockscar wrote:
The big question is who will buy it?
[/quote]
plenty of people will be interested. it’s a gigantic bank with a ton of assets and responsible for A LOT of capital. [/quote]
No shit sherlock. [/quote]
I thought you were suggesting no one would buy it, watson.[/quote]
Watson, don’t you think the Chineese will buy it?
[/quote]
I don’t know that they want to invest any more money in our economy than they already have.
[quote]FightinIrish26 wrote:
[quote]Rockscar wrote:
[quote]thefederalist wrote:
[quote]Rockscar wrote:
[quote]thefederalist wrote:
[quote]Rockscar wrote:
The big question is who will buy it?
[/quote]
plenty of people will be interested. it’s a gigantic bank with a ton of assets and responsible for A LOT of capital. [/quote]
No shit sherlock. [/quote]
I thought you were suggesting no one would buy it, watson.[/quote]
Watson, don’t you think the Chineese will buy it?
[/quote]
I don’t know that they want to invest any more money in our economy than they already have.
[/quote]
Do you support the Chineese purchasing Citigroup?
They still own AIG, GM, Chrysler. Why are they choosing to Sell Citi and not the other 3 companies?
The former require more restructuring and long term assistance.
If they wait too long the former are going to become government agencies of insurance, and automobiles.
[quote]Rockscar wrote:
[quote]FightinIrish26 wrote:
Do you support the Chineese purchasing Citigroup?[/quote]
I don’t know that i care one way or another. The free market is the free market. Whoever’s got the money buys the company.
Go ahead and buy it. I dare you.
