Ronald Pires

Will the PPIP Bankrupt the FDIC?

Note how it was said: "no NET losses". The key word is "net".

Bair is telling the truth, except that we are not doing the same "net" calculation that she is. If the net calculation is actually the difference between this program and putting these banks into receivership, then yes, of course there is "no net loss".

See? It's all in how you define your terms.

Exclusive: Big Banks' Recent Profitability Due to AIG Scam?

Unfortunately all of this appears to be completely legal, which gives credence to those naysayers who suggest that the laws can never catch up with the markets. I'm afraid the only way we will get any justice here is to go after the individuals involved with an IRS sledgehammer. As many of the Obama nominations suggest, it is quite dificult to make this much money without inadvertantly doing something illegal. Many of us will not see this however, as it is difficult to read the financial pages while selling apples on streetcorners.

Derivatives and Bank Collapse - The Scam That Went Largely Unreported

I don't have any problem with the general thrust of your article, but tossing around notional amounts of derivatives is pretty much useless (and potentially quite misleading) as a measure of the ultimate exposure (potental losses) in the market. See "Everything You Wanted to Know about Credit Default Swaps--but Were Never Told" by Peter J. Wallison for a good explanation of this.

www.rgemonitor.com/glo...

Reflation Is the Only Option

@ Paul Bogdanich Nov 24 12:12 PM

"Of course retirees ... get screwed but we have no other viable alternatives ..."

Retirees happen to vote in far greater percentages than all other groups. Screw them out of their money, and they will still do so, only they will get VERY ugly. No one in DC is unaware of this.

I'll bet you thought they were going to privatize Social Security too.