Tesa

Goldman Sachs' Latest Initiative: Business Plan or Charitable Donation?

Instead of an appology, the financial companies like Goldman should not be apposing and blocking new regulatory directives. The should not be constantly lobbying against working people, public insurance, unions and mimimum wage while they themselves bagged money through racketeering and bail outs.

How about that.

Accounting for Losses at BofA and Fannie

Lets not forget Fanny and Freddie were obliged by the law to purchase mortgages that BAC and other banks had issued so most of these banks have passed on quite a bit of their toxic assets to the public and namely Fannie and Freddie for years.

The speculation in housing market was so wild that American banks were still holding on to massively more toxic assets that they could dump on public accounts. BAC has been subsidized to neutralize its losses so it is very possible that it is playing games to extract more cash the public by extracting more cash through tax cuts by claiming ownership of the same toxic assets.

These bank will never stop extracting cash from public through predatory mortgage lending business . Americans are better off cutting their losses now and remove publicly subsidized mortgage business from private banking forever because the business is funded through interest rates funded by public that are sold back to them with a hefty cost.

Big Banks: The Consensus Is Cracking

Its not just the bigger banks that are corrupt. There many small banks that issue credit cards with 30-75% annual interest rates too. The systematic problem with the financial industry is not related to their size. It is related to lack of regulation that contains their rackets.

Both small and large banks have incentives to scam the public and participate in increasing systematic risk because only high risk actions are very profitable.

Bank Liabilities: Why the Discussion Isn't Explicit

It was not just one scheme. Many many schemes were use to extract cash from the public and their investments. The sub prime was designed specifically to extract cash from house buyers. And they are still scheming, they are hoping and are acquiring assets pennies to a dollar and they extract a huge profit from it as middle men. It never ends.


On Mar 07 11:26 AM Gold is Good

Bank Liabilities: Why the Discussion Isn't Explicit

Market can require to collapse the entire western civilization by that comment. The private capital and market could not save the market at the point of collapse. Only the social capital can save the markets at that junction.


On Mar 07 11:18 AM User 371607 wrote:

> These banks are insolvent because they were poorly managed or because
>
> The free market demands that poorly run companies go OUT OF BUSINESS

Bank Liabilities: Why the Discussion Isn't Explicit

mr freddo, AIG only bled 60 billion last quarter, that does not add up to something like a 130 trillion dollar default. Most of the speculative derivatives must have been hedged. Whether the xombie banks recover or not, the economy will recover.

Bank Liabilities: Why the Discussion Isn't Explicit

Its the opposite. The AAA ratings were designed to swindle the public and foreign banks to hold the bag of derivative losses designed by fraudsters running the US banking system.


On Mar 07 10:27 AM Jimmy Lathrop wrote:

> stupid derivative bets for
> the benefit foreign institutions and a select few banking institutions
> like GS. The discussion isn't explicit because we have a concept
> in economics called risk premium, meaning that writing derivatives
> or CDOs involve a certain amount of risk, and that risk was mispriced
>

Bank Liabilities: Why the Discussion Isn't Explicit

You have got it crossed to justify your rants, There is not enough "private" capital to save it. US government will not run out of cash . It can always print money and that is why the banks rely on it to hold their bags after swindling the public.


On Mar 07 09:33 AM The Geoffster wrote:

> Fitz919 is right on! The notional debt is larger than any possible
> gov't guarantee. Treasury and the FED are treading water hoping the
> system will right itself. Meanwhile, the crisis is tailor made for
> Obama's brand of socialism. The largest loss of wealth in history
> will be followed by the largest transfer of wealth in history.

Bank Liabilities: Why the Discussion Isn't Explicit

They may not recover in 10 years but 15 years they usually don't then in 20 years if they are hard assets. T

he housing market that collapsed "Lincoln Savings and Loan" in 1980s did eventually rebound and Keatings actually cashed on it by buying them at discount.

These assets should be separated an locked up in vault and held for 15 years and then be reevaluated for fair value.

On Mar 07 09:27 AM paul1307 wrote:

>. The mortgage was for $480K and the house was listed at $305K,
> and the bank owed two years back real estate taxes (which they would
> have had to pay off in the event of a sale). The house is now worth
> about $200K.
>
> When your portfolio goes down 50%, it then has to go up 100% for
> you to break even. Get it? Housing down 50% requires herculean growth

Bank Liabilities: Why the Discussion Isn't Explicit

What is the ring fence solution. Can anybody here describe it and is it viable.

Scary Numbers, Part II

The hedge funds have extracted all the market cap which was meat of these companies so the attacked companies have only bones left. So no matter what the shorts say, there is not much meat for them to consume so they will have start attacking healthy companies now to provide new meat for their grinding machine or go long.

They will need to attack and chew on healthier companies with high market cap like XOM, WMT, CHL,PG, T,JNJ... to crush them. So they start with rumors and then the quota ith would be one panic a day laughing all the way to the bank.

I see that the author has T on his list.

The Road to Economic Hell

user344210, its interesting that would assess the benefits of socialism in negatively and could not really describe the benefits of capitalism other than claiming that the right wing people have all the money!. You must feel that it a club.

Americans can not claim either better health care or education.

American health care system has massive cracks and your are criticizing countries that have narrower cracks. With 25% of US population not being covered and medicare that is not as good as what the socialist offer, you should not be throwing stone from your fragile glass house.

How is a single payer system worse than fraudulent multi-payer system that extracts profits while consuming massively more percentage of GDP than the socialist countries. Health care club for the right wing is not offering better life expectancy either.

The Road to Economic Hell

Aristophanes, do you really think there is an actual John J Wall. I am not so sure.

The Road to Economic Hell

Its lovely to see conservative even plagiarizing the propaganda by conservative propagandist John J. Wall.

forums.hannity.com/sho...

On Mar 05 12:49 PM patio wrote to "plagiarized John J. Wall" :

> I'm with you...
>
> Dear American liberals, leftists, social progressives, socialists,
> Marxists and Obama supporters, et al:
> We have stuck together since the late 1950's, but the whole of this

The Road to Economic Hell

user344210, can you explain why would quoted comment of his would get the thumbs down for telling it is. Is there anything other than ganging up or presence of multi ID fraudster that could explain it.

Or is it just injured ego that stops Americans accepting the fact that other countries can be socialist can do just fine. Some poster even attacked him for being an immigrant. Its shameful and juvenile.

"I've lived in socialist countries. Everyone seemed to be doing quite well. Good jobs, nice homes or apartments, good free health care, good free education thru PhD if ability and interest was there, clean streets, well maintained infrastructure, one month paid vacation every year....."