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n2doc (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:26 PM Original message |
That Bank Bailout Was Way Bigger Than Anyone Thought |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:32 PM Response to Original message |
1. Good. That's a central bank's job |
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MannyGoldstein (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:36 PM Response to Reply #1 |
2. Am I wrong in understanding that the Fed holds $2+ trillion in junk assets |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:38 PM Response to Reply #2 |
5. The Fed doesn't take taxpayer money, though it does pay us profits |
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MannyGoldstein (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:40 PM Response to Reply #5 |
7. So lets say that the bonds go south. Who gets a haircut? |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:47 PM Response to Reply #7 |
9. The Fed's private shareholders (nt) |
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MannyGoldstein (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:55 PM Response to Reply #9 |
10. And who are their private shareholders? |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 05:10 PM Response to Reply #10 |
13. A bunch of banks mostly (nt) |
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MannyGoldstein (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 05:20 PM Response to Reply #13 |
17. So if the banks get nicked for a few hundred billion, will there be few ramifications for taxpayers? |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 06:03 PM Response to Reply #17 |
20. More for "bank customers" than "taxpayers" |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 05:10 PM Response to Reply #10 |
14. A bunch of banks mostly (nt) |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 07:17 PM Response to Reply #7 |
22. Taxpayers will have to absorb the losses, Manny. |
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banned from Kos (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:40 PM Response to Reply #2 |
6. you would be very wrong - the Fed holds $2.8 trillion in assets |
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MannyGoldstein (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:44 PM Response to Reply #6 |
8. The Christian Science Monitor basically agrees with me |
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banned from Kos (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 05:02 PM Response to Reply #8 |
12. good article - I had not seen that. I point you to critical info |
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banned from Kos (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:36 PM Response to Reply #1 |
3. Exactly. "Lender of Last Resort" worked as planned. |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 05:15 PM Response to Reply #1 |
15. "No taxpayer money was risked" |
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Recursion (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 05:19 PM Response to Reply #15 |
16. Where do you think taxpayer money was risked? This was the Fed (nt) |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 05:41 PM Response to Reply #16 |
18. We've been through this routine before. Taxpayers backstop the Federal Reserve. |
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banned from Kos (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 05:55 PM Response to Reply #18 |
19. That is such lucid writing I forgot why we disagree so much n/t |
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girl gone mad (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 06:54 PM Response to Reply #19 |
21. We disagree because you make dishonest statements such as the one above.. |
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bvar22 (1000+ posts) Send PM | Profile | Ignore | Tue Nov-29-11 12:35 PM Response to Reply #21 |
25. Concise & To the Point. |
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phasma ex machina (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:38 PM Response to Original message |
4. "The last duty of a central banker is to tell the public the truth." |
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Huey P. Long (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 04:59 PM Response to Reply #4 |
11. yes sir. -eom |
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populist3 (13 posts) Send PM | Profile | Ignore | Mon Nov-28-11 09:21 PM Response to Original message |
23. There is something wrong when this kind of bailout isn't seen as wrong |
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slipslidingaway (1000+ posts) Send PM | Profile | Ignore | Mon Nov-28-11 10:25 PM Response to Original message |
24. Geithner, head of the NY Fed since 2003 knows... |
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DU AdBot (1000+ posts) | Thu Oct 17th 2024, 10:10 PM Response to Original message |
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