Seeking Alpha

Jim Myrtle

Jim Myrtle
Send Message
View as an RSS Feed
View Jim Myrtle's Comments BY TICKER:
Latest  |  Highest rated
  • Bernanke: We Must Be 'Humble' [View article]
    "Small Banks Unlikely to Repay Tarp Funds".

    And yet, the bank portion of TARP has been repaid at a profit to the Treasury.
    Do you know what that means? The banks have paid back in total, so far, more than they were lent in total. That doesn't mean every single bank has repaid their TARP loan.

    "Losses on Tarp are now expect to run $60-$120 billion."

    Yes, the auto portion and the mortgage portion of TARP will never be repaid.

    "Even with the Fed's feeding banks free money"

    Free? Prove it. And exactly how much "free money" are the banks borrowing from the Fed?
    May 7, 2012. 09:44 AM | 1 Like Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    How near 0%? How much are they borrowing at such an excellent rate?

    Where did you answer the above questions?

    "US Treasury Bonds"

    Could you be more specific?
    May 7, 2012. 09:41 AM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "whether or not that's true"

    It's true.

    "takes no account of the $trillions of loans they passed onto the government "

    Huh?

    "A ponzi only works until it doesn't."

    We aren't talking about Social Security.

    "The ponzi financialism that led to the 2008 meltdown remains all-too-lucrative for those bailed out at the top"

    Yeah, banks are eager to make more bad mortgage loans. LOL!

    "while the costs and hardships are being borne by the great shrinking American middle class"

    Yeah, the ones who defaulted on their mortgages and cost banks tens of billions are bearing the costs.

    Still confused?
    May 7, 2012. 01:04 AM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    ""Tarp being repaid with profit" is a classic crock "

    Who said that? Where?

    All I've seen, and said, is that the BANK portion of the TARP has been repaid at a profit to the Treasury. The auto portion and the mortgage rework portion has not and will not.

    Does that help clear up your confusion?
    May 6, 2012. 04:10 PM | 1 Like Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "According to an article by Graham Summers it could be as much as $1.4 quadrillion. Who is going to guarantee this market of $1.4 quadrillion?"

    I made a $5 bet on a baseball game yesterday. The underlying teams are worth over $1 billion. How will I ever cover my bet?

    "Of course, banks can pay back TARP money when THEIR central banker, Mister Bernanke, hand feeds them m/billions of dollars through nearly-free loans (nearly 0% intererst rates)"

    How near 0%? How much are they borrowing at such an excellent rate?

    "and a risk-free carry trade on Fed-protected TBonds that has been engineered since 2009 and still continuing"

    Risk free? LOL!
    Which bonds do you feel they are buying with these "nearly-free loans"?
    May 5, 2012. 11:40 AM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    You said,
    "Leverage derivative losses become debt when banks fail and when government bails them out with tax revenues and balloon government debt"

    I guess all "leveraged derivatives" are not the same?
    LOL!

    " Please explain to me how the bankruptcy of Lehman and AIG created 'winners' somewhere else..."

    Every Lehman CDS holder made money on their CDS.
    Do you really not understand how these things work?

    "oh that's right, bailout money from taxpayers went to the banks"

    Lehman got no bailout money.

    "bailout money from taxpayers went to the banks, and more deficit went to the US government"

    The banks repaid TARP at a profit to the Treasury.
    You're not doing too well, are you?
    May 4, 2012. 04:30 PM | 2 Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "Amen. Let's put an end to the 'market know all' propaganda."

    Let's wait until after we put an end to the 'government know all' propaganda.
    May 3, 2012. 05:39 PM | 1 Like Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "I'm leaning toward making banks like the public utilities."

    Maybe we should make martgage lenders like public utilities?
    We could call them Fannie Mae and Freddie Mac.
    What could go wrong?
    May 3, 2012. 05:36 PM | 4 Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "Leverage derivative losses become debt when banks fail and when government bails them out with tax revenues and balloon government debt (defiicit)."

    If a bank buys a leveraged derivative, let's say an IBM June 210 call for $266, they "control" over $20,000 worth of stock.

    How is the option in any way "bad debt"?

    You realize that for every loss on a "Leveraged derivative", there is an identical gain? And the gain isn't "bad debt" either.
    May 3, 2012. 05:34 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "According to some, America's big five banks have over $200 trillion in bad debt on leveraged derivatives"

    Since when is the "face value" of a derivative considered debt?
    May 2, 2012. 12:12 AM | 3 Likes Like |Link to Comment
  • JP Morgan and the Massive Silver Short: The Greatest Story Ever Told [View article]
    You brought up hedge funds.
    So now we're not talking about the Fed anymore?
    Okay.
    Apr 23, 2012. 01:34 PM | Likes Like |Link to Comment
  • JP Morgan and the Massive Silver Short: The Greatest Story Ever Told [View article]
    Pretty sure hedge funds don't get retail deposits.
    Apr 22, 2012. 05:53 PM | Likes Like |Link to Comment
  • JP Morgan and the Massive Silver Short: The Greatest Story Ever Told [View article]
    You can't borrow from the Fed at 0%.
    Current discount window borrowings were $2 million as of 4/18/2012.
    Try again?
    Apr 22, 2012. 11:37 AM | 1 Like Like |Link to Comment
  • QE, Inflation, And The Case For Precious Metals [View article]
    "So if you trust a group of private for profit cartel of foreign bankers to control our monetary system"

    You mean the Fed?

    "you must either work for them or a agent or kin to the family of bankers!"

    Does everyone who understands more than you automatically work for a bank?
    Mar 14, 2012. 10:59 PM | 1 Like Like |Link to Comment
  • QE, Inflation, And The Case For Precious Metals [View article]
    "I think you got it wrong. the banks borrow cheap from the fed and lend to the government and make a spread"

    They borrow from the Fed at 0.75%?
    And use it to buy bonds?
    Which bonds?
    Mar 14, 2012. 10:56 PM | 1 Like Like |Link to Comment
COMMENTS STATS
1,055 Comments
687 Likes