jimarb

As Alt A Mortgages Breakdown, Ultrashort Financial Not So Cool Anymore

my post on " what happened todat "
what happened today 3/20 - looks like Bear Stern jumped the gun by confessing to the worth of it's bad paper last week - Leyhman on the other hand stalled and therefore over the weekend learned it could take it's bad stuff to the window and exchange it for better stuff - so they kept their mouth shutg - who lost ????? THE TAX PAYERS - who won ????? the guys that made all the bad deals ( and paper ) and are already enjoying their ill gotten gains - there has to be a better way - no9 chance for those not well connected

blueeyedfool answered - why did the taxpayer lose and not Bear Sterns shareholders ?

I answered - the shareholders had plenty of time in the last several months to review Bear Stern holdings ( and get out ) - the taxpayers had someone else make the decision for them - and on the weekend

more - now the taxpayers are saddled with the loss - people need to realize just who the government is and who pays the governments bills - many paying for the good of the few