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Jim Myrtle

Jim Myrtle
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  • Bernanke: We Must Be 'Humble' [View article]
    Thanks for the link.
    It doesn't answer my question, but thanks anyway.
    Try again?

    "No rational person will claim that there was no purchase of toxic loans by the government from the banks"

    Which toxic loans? Spell it out.
    May 14, 2012. 02:09 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "Let's go back to mark-to-market accounting and see where JPM stands. I think it's bankrupt like all the other big banks"

    Making up your own definition of bankruptcy?

    "Of course, I may be wrong"

    You have been wrong about pretty much everything you've posted on this thread, so you're probably right with this possibility.

    Did you ever find the proof for this claim?

    "No rational person will claim that there was no purchase of toxic loans by the government from the banks"

    Which toxic loans? Spell it out.
    May 14, 2012. 12:29 PM | 1 Like Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    JPM will still make billions this quarter.
    Their losses cost the US taxpayer zero.
    Unlike Fannie and Freddie, which are truly backstopped by the taxpayers. Unlike JPM.
    May 11, 2012. 05:36 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "Fannie and Freddie Held Fewer Toxic Loans than Most Banks"

    Citibank lost Citibank shareholder money on their toxic loans.
    Fannie and Freddies toxic loans cost US taxpayers money.

    See the difference?
    May 10, 2012. 11:51 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "Freddie and Fannie worked fine for many years until deregulation sent us all to hell."

    And now they're costing taxpayers hundreds of billions.

    The same thing would happen if you got your wish and the banks were nationalized.

    "Freddie and Fannie didn't CAUSE the housing bubble"

    No, but they magnified it.
    And cost taxpayers hundreds of billions in the process.
    May 10, 2012. 11:50 PM | Likes Like |Link to Comment
  • Investors Won't Like The News Out Of Greece And France [View article]
    Regardless if you were taxed or received a check to dig and fill the holes, this 6% cut in spending would not reduce national output.
    May 10, 2012. 05:30 PM | Likes Like |Link to Comment
  • Investors Won't Like The News Out Of Greece And France [View article]
    "60% of a country's GDP is government spending and the government cuts its spending by 10%, the country's GDP will shrink by about 6%"

    What if the 6% they cut consists of 3% to dig holes and 3% to fill them in? Did economic output really decline?
    May 9, 2012. 10:05 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "No rational person will claim that there was no purchase of toxic loans by the government from the banks"

    Maybe a rational person would post some proof?
    Hint: your feelings don't count as proof.
    May 8, 2012. 09:02 AM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    Alrighty then, get back to me when you know what you're talking about.
    May 7, 2012. 05:50 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    You're whining about the Fed?
    They hold government guaranteed bonds, not "fraudulent paper".
    And they made about $80 billion last year.
    Maybe you should read up before you post more of your confused rant?

    "we are told Wall Street has "paid off" TARP"

    Huh? GM and GMAC and Chrysler have not (and will not) pay back their entire TARP loans, but I already said the auto portion will lose money.
    Try again? LOL!
    May 7, 2012. 12:40 PM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    Except the Treasury doesn't have assets on their balance sheet.

    Try again?
    May 7, 2012. 11:53 AM | Likes Like |Link to Comment
  • Bernanke: We Must Be 'Humble' [View article]
    "It may have escaped your attention that taxpayers balance sheet is bearing $trillions of, remember, "toxic assets""

    The Treasury has trillions of toxic assets on its balance sheet? How?
    May 7, 2012. 09:45 AM | 1 Like Like |Link to Comment
  • 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
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