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September 23, 2008 at 10:24 PM #13937September 23, 2008 at 10:37 PM #274528CA renterParticipant
While watching the hearing this morning and listening to Paulson’s terms, I couldn’t help but think the Paulson will be back in the private sector next year…probably with an entity that will be buying all these “illiquid” assets from the government.
Since we, the taxpayers, get to pay the banks’ wishing prices, the govt will probably “discover” after-the-fact that they really weren’t worth that much after all, and will have to turn them around and sell them at “market price” which Bernanke is currently calling a “fire sale” price.
So…the banks get rid of their bad paper at their wishing price, the govt (that’s us) overpays for them, then they will be resold back into the private market at their true market price (much less than what we paid for them). The private financial sector wins on both ends, and the taxpayers lose in the middle.
If this passes, it will be the single-most obvious display of where our representatives’ loyalties lie…and it ain’t with us, folks.
September 23, 2008 at 10:37 PM #274776CA renterParticipantWhile watching the hearing this morning and listening to Paulson’s terms, I couldn’t help but think the Paulson will be back in the private sector next year…probably with an entity that will be buying all these “illiquid” assets from the government.
Since we, the taxpayers, get to pay the banks’ wishing prices, the govt will probably “discover” after-the-fact that they really weren’t worth that much after all, and will have to turn them around and sell them at “market price” which Bernanke is currently calling a “fire sale” price.
So…the banks get rid of their bad paper at their wishing price, the govt (that’s us) overpays for them, then they will be resold back into the private market at their true market price (much less than what we paid for them). The private financial sector wins on both ends, and the taxpayers lose in the middle.
If this passes, it will be the single-most obvious display of where our representatives’ loyalties lie…and it ain’t with us, folks.
September 23, 2008 at 10:37 PM #274780CA renterParticipantWhile watching the hearing this morning and listening to Paulson’s terms, I couldn’t help but think the Paulson will be back in the private sector next year…probably with an entity that will be buying all these “illiquid” assets from the government.
Since we, the taxpayers, get to pay the banks’ wishing prices, the govt will probably “discover” after-the-fact that they really weren’t worth that much after all, and will have to turn them around and sell them at “market price” which Bernanke is currently calling a “fire sale” price.
So…the banks get rid of their bad paper at their wishing price, the govt (that’s us) overpays for them, then they will be resold back into the private market at their true market price (much less than what we paid for them). The private financial sector wins on both ends, and the taxpayers lose in the middle.
If this passes, it will be the single-most obvious display of where our representatives’ loyalties lie…and it ain’t with us, folks.
September 23, 2008 at 10:37 PM #274828CA renterParticipantWhile watching the hearing this morning and listening to Paulson’s terms, I couldn’t help but think the Paulson will be back in the private sector next year…probably with an entity that will be buying all these “illiquid” assets from the government.
Since we, the taxpayers, get to pay the banks’ wishing prices, the govt will probably “discover” after-the-fact that they really weren’t worth that much after all, and will have to turn them around and sell them at “market price” which Bernanke is currently calling a “fire sale” price.
So…the banks get rid of their bad paper at their wishing price, the govt (that’s us) overpays for them, then they will be resold back into the private market at their true market price (much less than what we paid for them). The private financial sector wins on both ends, and the taxpayers lose in the middle.
If this passes, it will be the single-most obvious display of where our representatives’ loyalties lie…and it ain’t with us, folks.
September 23, 2008 at 10:37 PM #274849CA renterParticipantWhile watching the hearing this morning and listening to Paulson’s terms, I couldn’t help but think the Paulson will be back in the private sector next year…probably with an entity that will be buying all these “illiquid” assets from the government.
Since we, the taxpayers, get to pay the banks’ wishing prices, the govt will probably “discover” after-the-fact that they really weren’t worth that much after all, and will have to turn them around and sell them at “market price” which Bernanke is currently calling a “fire sale” price.
So…the banks get rid of their bad paper at their wishing price, the govt (that’s us) overpays for them, then they will be resold back into the private market at their true market price (much less than what we paid for them). The private financial sector wins on both ends, and the taxpayers lose in the middle.
If this passes, it will be the single-most obvious display of where our representatives’ loyalties lie…and it ain’t with us, folks.
September 24, 2008 at 10:10 AM #274604crParticipantI think I’m going to rob a bank so they can claim the loss on insurance.
Won’t that help the taxpayers too?
What else could we do to “help” the taxpayers?
September 24, 2008 at 10:10 AM #274924crParticipantI think I’m going to rob a bank so they can claim the loss on insurance.
Won’t that help the taxpayers too?
What else could we do to “help” the taxpayers?
September 24, 2008 at 10:10 AM #274851crParticipantI think I’m going to rob a bank so they can claim the loss on insurance.
Won’t that help the taxpayers too?
What else could we do to “help” the taxpayers?
September 24, 2008 at 10:10 AM #274856crParticipantI think I’m going to rob a bank so they can claim the loss on insurance.
Won’t that help the taxpayers too?
What else could we do to “help” the taxpayers?
September 24, 2008 at 10:10 AM #274903crParticipantI think I’m going to rob a bank so they can claim the loss on insurance.
Won’t that help the taxpayers too?
What else could we do to “help” the taxpayers?
September 24, 2008 at 11:46 AM #274973UsernameParticipantIsn’t the Carlyle Group the one that Bush Sr is involved in? Smells like something foul and underhanded
September 24, 2008 at 11:46 AM #274954UsernameParticipantIsn’t the Carlyle Group the one that Bush Sr is involved in? Smells like something foul and underhanded
September 24, 2008 at 11:46 AM #274906UsernameParticipantIsn’t the Carlyle Group the one that Bush Sr is involved in? Smells like something foul and underhanded
September 24, 2008 at 11:46 AM #274901UsernameParticipantIsn’t the Carlyle Group the one that Bush Sr is involved in? Smells like something foul and underhanded
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