These banks want their trash debts purchased well above market value insuring the US taxpayers will lose hundreds of billions on the deal claiming that the value of their assets is depressed right now due to liquidity issues. I say fuk em this aint a communist country, sell the instruments at market value and the govt will buy them and bail you out, otherwise let the companies crash and burn, then they'll come begging the US govt to buy their trash debts at market value to bail them out.
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right on brother
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niceComment -
if you are going to talk about something make sure you know whats going on....
the government is offering to buy the assets way below market value. THATS THE WHOLE POINT.
the goverment can, if done correctly, make a decent amount of money on the plan.
the problem for these companies is that they cant do what they need to do and recover, with these items on their balance sheet.
so the govt. comes in busy them real cheap, almost nothing, and then can hold them longer term because they are not worried about operating with a balance sheet.Comment -
They are buying the debts for more than a normal collection agent would but lower than the value of the actual debt this makes it ABOVE street value because the debts are uncollectable right now and they would of been sold at a lower percentage to collection agentsComment -
Originally posted by jstblaze
Absolutely dead fukin wrong, Bernanke is the one suggesting that current market value is depressed by liquidity issues and that is what is holding up the bailout. Try knowing what your talking about before you interrupt my thread, if you can buy something for next to nothing well BELOW market value we wouldn't need to bail them out for 700 billion dollars in the first place.
Don't take my word for it though since you're such a genius, read what Bernanke and Warren Buffett have to say...
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well said
let the fukker burnComment -
Problem with letting the "fukker burn" is that the markets will continue to drop. 777 today...on and on....maybe drops below 7000-8000...? All the banks freeze up....
unemployment at 15-20%.....zero credit granted to business or consumer.
Its a big mess...Not sure if there is a good solution that makes everyone happy.Comment -
What industry do you work in?Comment -
I try to study this stock market as much as I can, some similarities to the world of sports betting.Originally posted by duritoComment -
you are an idiot and i cant wait till this hits main street.. do you understand that if the credit markets freeze people will be layed off from their jobs.. it effects everyone... you sound like a far-left idiot w/ no biz sense at all.. just wait,,just wait... and by the way, ITS NOT A BAILOUT... quit sucking the main stream new's dick dumb ass...Originally posted by bettilimbroke999Comment -
I'm not far left by any standard, do you think not wanting the taxpayers purchasing all the trash assets of companies in this country for ridiculously overpriced amounts is far left, what a fukin idiot.Originally posted by danrman
Truth is this will do lil if anything to stem the economic crisis we are in, in fact as we print another trillion worthless dollars inflation will increase and John Q taxpayer will be sunk further in the shitter. You're under the impression that not wanting to nationalize corporate America is far-left, get a fukin clue, that's capitalism, if you fuk your business to complete hell it fukin tanks that's not the taxpayers fault why should we have to pay to keep every bank on life support, we don't need to bailout every single bank in this country to save the economy, thin the herd, let the banks who have sunk their companies fall. No one is bailing out Joe Shmo investor who lost his life savings in Bear Stearns, AIG, etc., why the fuk should we bailout these corporations, maybe they should've made wise investments, maybe they shouldn't have paid their execs a billion a year, either way it's not my problem.
Also, I have no problem with buying their trash assets at market value to give them liquidity but buying them far above market value is just corporate welfare at the cost to the US taxpayer. Why should the US taxpayer pay for corporations mistakes, what's the point, if they just make more shit investments and need another 5 trillion do we just keep printing out money and overpaying for their trash assets and initiate hyperinflation with worthless money, is that really what you think is going to turn the economy around? I say freeze the fukin markets fuk it, they've been robbing investors for years, let those huge corporations fail see if I give a shit, they could care less when I lose money investing in em or lose my job, they just tell me I can't pay my bills so they come take my house and send me to the homeless shelter, they don't believe in welfare why should we. Let those fukin dumbass Wall St. corporations that have run themselves into the ground fail, BURN MOTHERFUKER BURNNNNNComment -
Originally posted by bettilimbroke999
Right-O!
The govt (ie, we the people) can get these companies for a LOT less if they fail. The bail is a way to pay off bad managers and investors.Comment -
what a joke , 20% unemployment. never happen, so some educated car salesman on wallstreet loses their jobs, BFD. and the dow at 7k, so fukin what? this is a canard perpetuated by the slime of slime - greenspan - bernanke - and the rest of the hampton crowd to get the average american to save their greedy asses. america spoke today, and they said no fukin way!Comment -
Here's the deal.
Do not let fat, white, rich men steeped in old money tell you what is best for you.Comment
