[quote=SK in CV][quote=harvey][quote=SK in CV]I didn’t read the rest of the comment so I don’t know what the point was. History tells me there really wasn’t one. But this quote, containing a lot of fancy phrases, and important sounding words, makes no sense. There may be a transaction that the author was attempting to describe. This isn’t it. This is just words strung together. Bait, if you will, for conspiracy theorists, who don’t really understand shit about the subject.[/quote]
It’s not a “comment” – it’s an article from the WSJ.[/quote]
Right, which is kinda why I read that part and didn’t read the rest. It’s a shit article. Go figure.[/quote]
[quote=SK in CV] SPE’s exist. They are not proof, in fact, they’re not even evidence of any shadow inventory. They don’t get assets (or liabilities) of any banks’ balance sheet. Shadow inventory was a myth 8 years ago. It was a myth 6 years ago. It was a myth 4 years ago. It is still a myth.
given bold statements, care to share any verifiable expertise on the topic, as per piggington forums moto “In God We Trust. Everyone Else Bring data” ???
FWIW the WSJ author seems to have a formal education on applicable topics as well as work experience (and you ???)
[quote]
Tracy Byrnes is an award-winning writer specializing in tax and accounting issues. As a freelancer, she has written columns for wsj.com and the New York Post and her work has appeared in SmartMoney and on CBS MarketWatch. Prior to freelancing, she spent four years as a senior writer for TheStreet.com. Before that, she was an accountant with Ernst & Young. She has a B.A. in English and economics from Lehigh University and an M.B.A. in accounting from Rutgers University.
indicating SPEs get assets (or liabilities) from banks’ balance sheet (for both legitimate and illegitimate uses)
[quote] Uses and Abuses Of Special Purpose Entities
Special Purpose Entity (SPE) is a global term, and is used interchangeably with the term Special Purpose Vehicle (SPV). An SPE is either a Trust or a Company. SPEs can be either on shore or offshore. … The assets are then used as collateral for notes issued by the SPE.
PS just an educated guess that your dismissal of SPEs and other topics mentioned (like pensions) aside from being somewhat complex, has more to do w/ personal feelings rather than facts…
[quote=SK in CV]
[quote=no_such_reality]
The lump sum payments are stunning.
[/quote]
I suspect much of these “one time payments” are their own money they’re getting back. My brother retired after 33 years with the SDPD last year, and would have been 4th on the list if the search criteria would have been different…
[quote] Contributions to public pension plans have increased in recent years, but their unfunded liabilities have increased more, according to an analysis by the Society of Actuaries released Wednesday.
