Home › Forums › Financial Markets/Economics › Bankers Get $4 Trillion Gift From Barney Frank
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jficquette.
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December 30, 2009 at 5:42 AM #16855December 30, 2009 at 10:29 AM #497909
jpinpb
ParticipantI’m surprised it’s not more. Let’s give them time. Maybe they can increase the amount. It’s like it’s monopoly money growing on trees.
At least they added the proviso: “the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back”
Of course, it doesn’t say when, so maybe it can be paid back before the end of time.
December 30, 2009 at 10:29 AM #498063ParticipantI’m surprised it’s not more. Let’s give them time. Maybe they can increase the amount. It’s like it’s monopoly money growing on trees.
At least they added the proviso: “the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back”
Of course, it doesn’t say when, so maybe it can be paid back before the end of time.
December 30, 2009 at 10:29 AM #498455ParticipantI’m surprised it’s not more. Let’s give them time. Maybe they can increase the amount. It’s like it’s monopoly money growing on trees.
At least they added the proviso: “the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back”
Of course, it doesn’t say when, so maybe it can be paid back before the end of time.
December 30, 2009 at 10:29 AM #498548ParticipantI’m surprised it’s not more. Let’s give them time. Maybe they can increase the amount. It’s like it’s monopoly money growing on trees.
At least they added the proviso: “the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back”
Of course, it doesn’t say when, so maybe it can be paid back before the end of time.
December 30, 2009 at 10:29 AM #498795ParticipantI’m surprised it’s not more. Let’s give them time. Maybe they can increase the amount. It’s like it’s monopoly money growing on trees.
At least they added the proviso: “the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back”
Of course, it doesn’t say when, so maybe it can be paid back before the end of time.
December 30, 2009 at 1:04 PM #497965davelj
Participant[quote=jpinpb]
At least they added the proviso: “the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back”
[/quote]Yes, technically this is an option on a future loan. While it has some value, it’s some tiny fraction of $4 trillion (albeit still a large number). The headline suggests that Congress just handed the banks $4 trillion that’s never to be seen again.
I find disturbingly little balance in the coverage of this crisis. The media (generically) portray the financiers as evil bungling megalomaniacs while the Officialdom tries to paint the same merely as folks dealt a bad hand (“could’ve happened to anyone”) and thus deserving of extreme levels of assistance.
The answer’s somewhere in the middle.
December 30, 2009 at 1:04 PM #498118Participant[quote=jpinpb]
At least they added the proviso: “the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back”
[/quote]Yes, technically this is an option on a future loan. While it has some value, it’s some tiny fraction of $4 trillion (albeit still a large number). The headline suggests that Congress just handed the banks $4 trillion that’s never to be seen again.
I find disturbingly little balance in the coverage of this crisis. The media (generically) portray the financiers as evil bungling megalomaniacs while the Officialdom tries to paint the same merely as folks dealt a bad hand (“could’ve happened to anyone”) and thus deserving of extreme levels of assistance.
The answer’s somewhere in the middle.
December 30, 2009 at 1:04 PM #498510Participant[quote=jpinpb]
At least they added the proviso: “the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back”
[/quote]Yes, technically this is an option on a future loan. While it has some value, it’s some tiny fraction of $4 trillion (albeit still a large number). The headline suggests that Congress just handed the banks $4 trillion that’s never to be seen again.
I find disturbingly little balance in the coverage of this crisis. The media (generically) portray the financiers as evil bungling megalomaniacs while the Officialdom tries to paint the same merely as folks dealt a bad hand (“could’ve happened to anyone”) and thus deserving of extreme levels of assistance.
The answer’s somewhere in the middle.
December 30, 2009 at 1:04 PM #498602Participant[quote=jpinpb]
At least they added the proviso: “the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back”
[/quote]Yes, technically this is an option on a future loan. While it has some value, it’s some tiny fraction of $4 trillion (albeit still a large number). The headline suggests that Congress just handed the banks $4 trillion that’s never to be seen again.
I find disturbingly little balance in the coverage of this crisis. The media (generically) portray the financiers as evil bungling megalomaniacs while the Officialdom tries to paint the same merely as folks dealt a bad hand (“could’ve happened to anyone”) and thus deserving of extreme levels of assistance.
The answer’s somewhere in the middle.
December 30, 2009 at 1:04 PM #498850Participant[quote=jpinpb]
At least they added the proviso: “the Federal Reserve and Treasury Secretary can’t authorize these funds unless “there is at least a 99 percent likelihood that all funds and interest will be paid back”
[/quote]Yes, technically this is an option on a future loan. While it has some value, it’s some tiny fraction of $4 trillion (albeit still a large number). The headline suggests that Congress just handed the banks $4 trillion that’s never to be seen again.
I find disturbingly little balance in the coverage of this crisis. The media (generically) portray the financiers as evil bungling megalomaniacs while the Officialdom tries to paint the same merely as folks dealt a bad hand (“could’ve happened to anyone”) and thus deserving of extreme levels of assistance.
The answer’s somewhere in the middle.
September 1, 2010 at 12:08 PM #598619Aecetia
Participant“Buried in the recently passed Dodd-Frank financial reform bill are massive financial rewards for turning in your boss. The SEC is hoping that multimillion dollar rewards amounting to 10%-30% of sanction amounts will drive a stampede of whistleblowers to their doors with evidence of malfeasance and fraud by their employers.”
September 1, 2010 at 12:08 PM #598712Participant“Buried in the recently passed Dodd-Frank financial reform bill are massive financial rewards for turning in your boss. The SEC is hoping that multimillion dollar rewards amounting to 10%-30% of sanction amounts will drive a stampede of whistleblowers to their doors with evidence of malfeasance and fraud by their employers.”
September 1, 2010 at 12:08 PM #599255Participant“Buried in the recently passed Dodd-Frank financial reform bill are massive financial rewards for turning in your boss. The SEC is hoping that multimillion dollar rewards amounting to 10%-30% of sanction amounts will drive a stampede of whistleblowers to their doors with evidence of malfeasance and fraud by their employers.”
September 1, 2010 at 12:08 PM #599362Participant“Buried in the recently passed Dodd-Frank financial reform bill are massive financial rewards for turning in your boss. The SEC is hoping that multimillion dollar rewards amounting to 10%-30% of sanction amounts will drive a stampede of whistleblowers to their doors with evidence of malfeasance and fraud by their employers.”
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