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Jim Myrtle

Jim Myrtle
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  • Big Banks' $76 Billion Per Year Federal Subsidy And What We Need To Do About It [View article]
    Awesome. You can read! Yes, a supposed guarantee reduces their financing costs. See that, no check or wire involved.
    Jul 8, 2012. 01:00 PM | Likes Like |Link to Comment
  • Big Banks' $76 Billion Per Year Federal Subsidy And What We Need To Do About It [View article]
    "Keep in mind that quite a few of the paper “assets” the Fed holds are still radioactive, including a mountain of subprime mortgages that would fatally poison the U.S. banking system if they were returned to their rightful owners"

    Radioactive? MBS that are trading well above par?

    "For this…let’s call it a “favor,” the Fed charges 50 basis points — without calling it a…ahem…loan"

    Ummmm....it's a swap. There is no interest. Because it's not a loan.
    The Fed gives the ECB $1 billion and receives the same value in Euros. No interest.

    I see why you like this source, he's as confused as you are.
    Jul 7, 2012. 01:38 PM | 1 Like Like |Link to Comment
  • Big Banks' $76 Billion Per Year Federal Subsidy And What We Need To Do About It [View article]
    Did you read the article? It's obvious you didn't.
    The government is not giving a wire or a check or a fist full of FRNs to the banks. No taxpayer money changed hands.

    "How they get the money is NOT the issue"

    Read the article and get back to me, silly.
    Jul 7, 2012. 01:34 PM | Likes Like |Link to Comment
  • Big Banks' $76 Billion Per Year Federal Subsidy And What We Need To Do About It [View article]
    "why isn't all that free money the government is giving to the banks restarting the global economic demand?"

    Well, for one thing, the government isn't giving free money to the banks.
    Jul 7, 2012. 01:32 PM | Likes Like |Link to Comment
  • The U.S. Banking System: Weak, Yet Still Supplying Europe [View article]
    Yeah, Dodd, Frank, Raines......just terrible.

    Put the politicians in charge, they'll fix it. LOL!
    Jul 7, 2012. 01:29 PM | Likes Like |Link to Comment
  • Big Banks' $76 Billion Per Year Federal Subsidy And What We Need To Do About It [View article]
    Reread the article. The banks did not receive a check from the government.

    Any luck proving your claim about the government buying junk debt from the banks? Or do you need a few more months?
    Jul 6, 2012. 05:58 PM | Likes Like |Link to Comment
  • Big Banks' $76 Billion Per Year Federal Subsidy And What We Need To Do About It [View article]
    "The banks are receiving welfare checks of $78 billion per year from the Treasury (taxpayers) to do what?"

    No, they are not receiving taxpayer money.
    Jul 5, 2012. 09:10 PM | 1 Like Like |Link to Comment
  • First Steps Toward A European Banking Union [View article]
    "And um the Fed didn't buy $1 trillion in mortgage assets at $1.00 that were worth $0.40, and sweep them under the rug at the Fed?"

    The Fed only bought guaranteed mortgages.
    And they're trading over par.
    Jul 2, 2012. 11:04 PM | 2 Likes Like |Link to Comment
  • First Steps Toward A European Banking Union [View article]
    "I don't smoke or drink, Jim."

    Trying to find the reason you're unable to provide proof for your claim.

    "Defend the status quo to the death! Defend the thieves!"

    Build a new strawman, it's easier than admitting you were wrong.
    Jul 1, 2012. 01:42 PM | Likes Like |Link to Comment
  • First Steps Toward A European Banking Union [View article]
    Don't let that strawman tip over and squish you....
    Jun 30, 2012. 04:27 PM | Likes Like |Link to Comment
  • First Steps Toward A European Banking Union [View article]
    Any luck with your junk claim?
    Too busy smoking?
    Jun 30, 2012. 04:26 PM | Likes Like |Link to Comment
  • First Steps Toward A European Banking Union [View article]
    "The Fed allows banks to borrow at 0.25%; they then redeposit with the Fed and earn 2.25% (roughly) and these are termed Excess Reserves"

    Ummmmm....banks can borrow from the Fed at 0.75%, not 0.25%.
    And the Fed pays 0.25% on excess reserves, not 2.25%.
    What is math like on your planet? LOL!
    Jun 30, 2012. 04:26 PM | 4 Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "$947 billion of overpaid and low demand mortgage backed securities sit on the massive $2.8 trillion Fed balance sheet"

    Yeah, those guaranteed mortgages that they bought at lower prices are just awful. LOL!

    Thanks for trying.....and failing.
    Jun 29, 2012. 11:18 AM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    It'd be quicker if you just admitted your error.
    Jun 29, 2012. 10:31 AM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    The Fed bought guaranteed bonds.
    Treasuries and agencies.
    Jun 29, 2012. 10:31 AM | 1 Like Like |Link to Comment
COMMENTS STATS
1,128 Comments
779 Likes