mrtaxx

Why Healthy Banks Shouldn't Repay TARP Funds

You responder wrote: "Use of proceeds of the equity deal should be properly disclosed as allowing **insiders to enrich themselves with higher compensation without government scrutiny. ** Beyond that, there is no reason to accelerate repayment within the initial 3 years."....

"Alternatively, one could argue that Goldman is taking its **AIG** proceeds to buy back TARP preferreds. I know that their CFO said they didn't need the AIG bailout given their hedges. At the risk of sounding like Maxine Waters, Blankfein (current CEO) reportedly advised Paulson (prior CEO) during the AIG bailout process. To avoid the appearance of a conflict of interest, perhaps Goldman should voluntarily disgorge its AIG hedge profits since the government made them whole on their contracts (based on Blankfein's counsel)."

"Goldman is now a bank holding company **but I see little evidence of a stable deposit base or other implementation of a bank holding company business plan. ** "

Bingo! Follow the stars (**).

In my opinion:
Paulson worked for Goldman who created some of the the exotic instruments that caused the market crash. He made sure AIG received TARP payments so his buddies at Goldman would benefit. He and his cronies came up with the Bank Holding company senario so Goldman could get the TARP money. Now that the Government says there can be no big bonuses, Goldman all of a sudden doesn't need the TARP money. Hello! Is anybody home!!

Hey, I'm no genious, but if I can see what appears to be going on here why doesn't the Government see what's going on.

Paulson and his cronies and other people and businesses who created these exotic instruments (derivatives, CDO's) or whatever, which caused the destruction of the American economy and economies around the world, should be made to pay back their profits, be fined and be put in jail. Do Not Pass Go, Go Directly To Jail!

Hey, I'm just an average American Taxpayer, what do I know! Talk about being greedy and fraud!

Short Sales: SEC Turns Back the Clock to 1931

Short sell stopped on 19 financial stocks, isn't that unjust, how about all the other stocks that are manipulated. Why do the financials get this break? Oh I know they control all the money. Another farce by the SEC, another useless government agency that doesn't know how to do their job or just keeps looking the other way.

The Credit Bubble: Deregulation Gone Wild

To resolve the crisis the article suggests "If banks of all sizes could regain their capital immediately and easily, it would be a tremendous benefit to the American economy. The federal government could make this happen by entering into an arrangement with American banks that hold subprime mortgages...Here’s how it would work: *The government would guarantee the principal of the mortgages for 15 years. And in exchange the banks would agree to leave their “teaser” interest rates on those loans in effect for the entire 15 years. "*.

So it's suggested that people, mortgage co.'s and banks etc. who may have commited fraud by enhancing their income on mortgage applications and doing whatever other shnanagins they did, should get away with it, get great mortgage rates and all the other American taxpayers should pay for it. Now that's simply wrong because their problems should not be my problems and the problems on honest people and bankers. However I would not mind this 15 year plan being done if those who committed fraud and other shananagins and wanted to live and stay in their homes gave up their appreciaition in those homes in full or to some extent after the 15 years to pay back the reduction they received in interest rates by the rates not being increased after the teaser rate period ended.

JPMorgan Boosts Bear Bid to $10 - NY Times

I just posted a negative article, to this article, against the federal government and Bear Stearns upper management and Bears board of directors, (it was the first response to this article) and it was deleted from this site, so i'm sending a copy of my posting to this article, along with the article to the world wide news organizaions and the federal government agencies involved, etc. etc. My comment said something to the effect that since this article indicates Bear may be worth $10 or maybe even $20 a share according to this article, why the threat of bankruptcy? Why doesn't the federal government give the $30 billion backing to Bear and let Bear stay in business? Why doesn't the federal government and the board of directors of Bear back the employees (who have their future and life saving invested in Bear, and who pay their salaries) and the shareholders? Something is not right here and it appears that the federal government and Bear's upper management, along with Bear's board of directors are involved in these crooked dealings. Suprise! Suprise! Throw out Bear's upper management, get rid of the the JP morgan deal and let the employees (who have their life saving invested in Bear) and the shareholders live on.

cc - washington post. NY times, whitehouse, seekingalpha.com, congress, senator's, house of repesentatives, etc.etc.

JPMorgan Boosts Bear Bid to $10 - NY Times

If Bear is worth $10 or maybe even $20 as your article suggests, why are they selling? Why the threat of bankruptcy? Why doesn't the government back Bear with the $30 billion and let Bear stay in businesss? It looks like something crooked is going on here and the government and Bear's upper management along with it's board of director's is involved in these crooked dealings. Suprise! Suprise! Throw out the board and the upper management, get new management and let the employees who have there financial future at stake and the shareholders live on.