OMG: Bank of America Asks Congress for a $739 Billion Bank Bailout !!!

[pnilesh]

This one from http://patrick.net : Bank of America Asks Congress for a $739 Billion Bank Bailout

The Bankers are really greedy.. they want to have a stupid “Homeowner preservation corp” so that they can pass their risk to tax payers, get bad mortgages off their books and increase their profits.

This situation is pretty interesting because, I believe, congress does not have too many options and a bailout will likely cause perhaps too many lawsuits against the government.

However, I have a solution and if you elect me as the president I will do it:

If you are underwater on your mortgage ( for primary residence ofcourse), then the government will step in and help you rewrite your mortgage under current market value. However, the amount you owe (the underwater amount) to the government will now act as a interest free loan payable in 15-20yr term.

The government will deduct the amount from your paychecks. However, the underwater amount is capped at $100,000. The mortgage rewrite will require a guarantor. If the payment is defaulted or not made complete, then the guarantor will have to make up the difference. The guarantor and borrowor will be required to purchase a life insurance. ( This is because I need to protect my other tax payers )

I am thinking of this because I do not want my hard earned money, the money for which I slogged for 80 hrs a week, to go and help out a financially irresponsible a***ole..

So will you vote for me? I talk tax payer’s language not wall street’s language.

[SD Realtor]

So why is this surprising to anyone?

[pnilesh]

well… this is not a surprise. I am against any bailout and thats why the fuss.

[patientrenter]

I feel the same way, pnilesh. (Actually, I probably feel more strongly than you that anyone stupid or greedy enough to have gotten into an upside-down mortgage should get no break, and be made to live on milk and peanut butter on wonderbread until the debt and all interest, per the original loan terms, is paid off in full.) But you and I know that the voters who got rich, or hoped to get rich, off ridiculous increases in home prices, just don’t want to deal symmetrically with the consequences of home price decreases. And they are a majority, so they will get most of what they want. For people like us, this is what’s called a learning opportunity.

Patient renter in OC

[Deal Hunter]

As righteous as that position is, “they” will still get their bail out and you will still end up paying for it. Well, if only we could refuse to pay our taxes and by that route refuse to bail out the banks. Then, we could really teach those “geniuses” a lesson.

I read this article and recalled what one of my clients told me about “walking away.” She said that the government was going to do all it can to bail out the banks, the brokers and the many homeowners who bought homes beyond their means. As a taxpayer, she is contributing to the bail out and therefore feels justified in walking away from her upside down mortgage. She figures it’s her money in the end anyway.

I’m not so quick to put all the blame on homeowners. Banks who approved the loans and sold them off as derivatives also refuse to deal symmetrically with the consequences of home price decreases. If you have a pension fund that invested in these derivatives, you got walked out on by the banks when they wrote-down their assets in mortgage backed securities.

[Deal Hunter]

As righteous as that position is, “they” will still get their bail out and you will still end up paying for it. Well, if only we could refuse to pay our taxes and by that route refuse to bail out the banks. Then, we could really teach those “geniuses” a lesson.

I read this article and recalled what one of my clients told me about “walking away.” She said that the government was going to do all it can to bail out the banks, the brokers and the many homeowners who bought homes beyond their means. As a taxpayer, she is contributing to the bail out and therefore feels justified in walking away from her upside down mortgage. She figures it’s her money in the end anyway.

I’m not so quick to put all the blame on homeowners. Banks who approved the loans and sold them off as derivatives also refuse to deal symmetrically with the consequences of home price decreases. If you have a pension fund that invested in these derivatives, you got walked out on by the banks when they wrote-down their assets in mortgage backed securities.

[Deal Hunter]

As righteous as that position is, “they” will still get their bail out and you will still end up paying for it. Well, if only we could refuse to pay our taxes and by that route refuse to bail out the banks. Then, we could really teach those “geniuses” a lesson.

I read this article and recalled what one of my clients told me about “walking away.” She said that the government was going to do all it can to bail out the banks, the brokers and the many homeowners who bought homes beyond their means. As a taxpayer, she is contributing to the bail out and therefore feels justified in walking away from her upside down mortgage. She figures it’s her money in the end anyway.

I’m not so quick to put all the blame on homeowners. Banks who approved the loans and sold them off as derivatives also refuse to deal symmetrically with the consequences of home price decreases. If you have a pension fund that invested in these derivatives, you got walked out on by the banks when they wrote-down their assets in mortgage backed securities.

[Deal Hunter]

As righteous as that position is, “they” will still get their bail out and you will still end up paying for it. Well, if only we could refuse to pay our taxes and by that route refuse to bail out the banks. Then, we could really teach those “geniuses” a lesson.

I read this article and recalled what one of my clients told me about “walking away.” She said that the government was going to do all it can to bail out the banks, the brokers and the many homeowners who bought homes beyond their means. As a taxpayer, she is contributing to the bail out and therefore feels justified in walking away from her upside down mortgage. She figures it’s her money in the end anyway.

I’m not so quick to put all the blame on homeowners. Banks who approved the loans and sold them off as derivatives also refuse to deal symmetrically with the consequences of home price decreases. If you have a pension fund that invested in these derivatives, you got walked out on by the banks when they wrote-down their assets in mortgage backed securities.

[Deal Hunter]

As righteous as that position is, “they” will still get their bail out and you will still end up paying for it. Well, if only we could refuse to pay our taxes and by that route refuse to bail out the banks. Then, we could really teach those “geniuses” a lesson.

I read this article and recalled what one of my clients told me about “walking away.” She said that the government was going to do all it can to bail out the banks, the brokers and the many homeowners who bought homes beyond their means. As a taxpayer, she is contributing to the bail out and therefore feels justified in walking away from her upside down mortgage. She figures it’s her money in the end anyway.

I’m not so quick to put all the blame on homeowners. Banks who approved the loans and sold them off as derivatives also refuse to deal symmetrically with the consequences of home price decreases. If you have a pension fund that invested in these derivatives, you got walked out on by the banks when they wrote-down their assets in mortgage backed securities.

[patientrenter]

I feel the same way, pnilesh. (Actually, I probably feel more strongly than you that anyone stupid or greedy enough to have gotten into an upside-down mortgage should get no break, and be made to live on milk and peanut butter on wonderbread until the debt and all interest, per the original loan terms, is paid off in full.) But you and I know that the voters who got rich, or hoped to get rich, off ridiculous increases in home prices, just don’t want to deal symmetrically with the consequences of home price decreases. And they are a majority, so they will get most of what they want. For people like us, this is what’s called a learning opportunity.

Patient renter in OC

[patientrenter]

I feel the same way, pnilesh. (Actually, I probably feel more strongly than you that anyone stupid or greedy enough to have gotten into an upside-down mortgage should get no break, and be made to live on milk and peanut butter on wonderbread until the debt and all interest, per the original loan terms, is paid off in full.) But you and I know that the voters who got rich, or hoped to get rich, off ridiculous increases in home prices, just don’t want to deal symmetrically with the consequences of home price decreases. And they are a majority, so they will get most of what they want. For people like us, this is what’s called a learning opportunity.

Patient renter in OC

[patientrenter]

I feel the same way, pnilesh. (Actually, I probably feel more strongly than you that anyone stupid or greedy enough to have gotten into an upside-down mortgage should get no break, and be made to live on milk and peanut butter on wonderbread until the debt and all interest, per the original loan terms, is paid off in full.) But you and I know that the voters who got rich, or hoped to get rich, off ridiculous increases in home prices, just don’t want to deal symmetrically with the consequences of home price decreases. And they are a majority, so they will get most of what they want. For people like us, this is what’s called a learning opportunity.

Patient renter in OC

[patientrenter]

I feel the same way, pnilesh. (Actually, I probably feel more strongly than you that anyone stupid or greedy enough to have gotten into an upside-down mortgage should get no break, and be made to live on milk and peanut butter on wonderbread until the debt and all interest, per the original loan terms, is paid off in full.) But you and I know that the voters who got rich, or hoped to get rich, off ridiculous increases in home prices, just don’t want to deal symmetrically with the consequences of home price decreases. And they are a majority, so they will get most of what they want. For people like us, this is what’s called a learning opportunity.

Patient renter in OC

[SD Realtor]

I know pnelish… I am with you…just in a cynical sunday nite mood… not harshing on you, just on our government.

SD Realtor

[CA renter]

If you honestly care about not bailing out Wall Street (those who made fistloads of money off this bubble **and demanded that the government NOT regulate the lending industry**), CALL YOUR REPRESENTATIVES TODAY!!!!!

Write letters, send e-mails, contact journalists, etc. and call them every single day to tell them that taxpayers will not stand by while Congress gives our money to the bankers who caused this mess in the first place.

You can find out who all your representatives are here:

http://www.congress.org/congressorg/home/

[CA renter]

If you honestly care about not bailing out Wall Street (those who made fistloads of money off this bubble **and demanded that the government NOT regulate the lending industry**), CALL YOUR REPRESENTATIVES TODAY!!!!!

Write letters, send e-mails, contact journalists, etc. and call them every single day to tell them that taxpayers will not stand by while Congress gives our money to the bankers who caused this mess in the first place.

You can find out who all your representatives are here:

http://www.congress.org/congressorg/home/

[CA renter]

If you honestly care about not bailing out Wall Street (those who made fistloads of money off this bubble **and demanded that the government NOT regulate the lending industry**), CALL YOUR REPRESENTATIVES TODAY!!!!!

Write letters, send e-mails, contact journalists, etc. and call them every single day to tell them that taxpayers will not stand by while Congress gives our money to the bankers who caused this mess in the first place.

You can find out who all your representatives are here:

http://www.congress.org/congressorg/home/

[CA renter]

If you honestly care about not bailing out Wall Street (those who made fistloads of money off this bubble **and demanded that the government NOT regulate the lending industry**), CALL YOUR REPRESENTATIVES TODAY!!!!!

Write letters, send e-mails, contact journalists, etc. and call them every single day to tell them that taxpayers will not stand by while Congress gives our money to the bankers who caused this mess in the first place.

You can find out who all your representatives are here:

http://www.congress.org/congressorg/home/

[CA renter]

If you honestly care about not bailing out Wall Street (those who made fistloads of money off this bubble **and demanded that the government NOT regulate the lending industry**), CALL YOUR REPRESENTATIVES TODAY!!!!!

Write letters, send e-mails, contact journalists, etc. and call them every single day to tell them that taxpayers will not stand by while Congress gives our money to the bankers who caused this mess in the first place.

You can find out who all your representatives are here:

http://www.congress.org/congressorg/home/

[SD Realtor]

I know pnelish… I am with you…just in a cynical sunday nite mood… not harshing on you, just on our government.

SD Realtor

[SD Realtor]

I know pnelish… I am with you…just in a cynical sunday nite mood… not harshing on you, just on our government.

SD Realtor

[SD Realtor]

I know pnelish… I am with you…just in a cynical sunday nite mood… not harshing on you, just on our government.

SD Realtor

[SD Realtor]

I know pnelish… I am with you…just in a cynical sunday nite mood… not harshing on you, just on our government.

SD Realtor

[pnilesh]

well… this is not a surprise. I am against any bailout and thats why the fuss.

[pnilesh]

well… this is not a surprise. I am against any bailout and thats why the fuss.

[pnilesh]

well… this is not a surprise. I am against any bailout and thats why the fuss.

[pnilesh]

well… this is not a surprise. I am against any bailout and thats why the fuss.

[SD Realtor]

So why is this surprising to anyone?

[SD Realtor]

So why is this surprising to anyone?

[SD Realtor]

So why is this surprising to anyone?

[SD Realtor]

So why is this surprising to anyone?

[Coronita]

You know..I did call this a few posts ago… Let me dig the thread up… 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Ah yes, found the thread.

 

http://piggington.com/bank_of_america_to_buy_countrywide_for_4billion

…See my comment 4-5th down…Reposted here…

 

 ——

 

The biggest question here is: Did BofA guess right, or wrong? The acquisition was at a considerable discount from the previous market cap, but the company is in disarray, with many thinking the worst is yet to come. It will be interesting to see how this plays out.

My guess is that they won't be doing the cleanup without assistance from the Gov. I'm sure they'll get some deal from the Fed. Fed will just use BofA as a proxy to do the toxic cleanup. I wasn't kidding in the previous post about all BofA doing "one time restructing charges" for the next couple of quarters or years….They'll just keep playing the game "we beat estimates before the one time charges", but here are the one time charges related to the CFC acquisition. You spread the loss over a couple of quarters over a few years, with the assistance of cash infusion from Fed or foreign companies ,possibly sell off some of this toxic waste at a huge discount to offshore investors, and in a few years, problem magically goes away. Lol….

 

They're already starting to play this game:

Bank of America expects a $1.2 billion restructuring charge from the transaction, and said it will need a couple of billion dollars of new capital to help preserve its capital ratios.

The next time, it will be another 1.2 billion. Do this across 8 quarters, you got a nice 10.6 billion in charges you just passed through over the course of 2 years, while still being able to look great to wall street ("it was only the one time restructuring charges".) This would be great for BofA to clean their own house too, everything bad is related to the restructuring.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[SD Realtor]

FLU I think B of A played the hand perfectly. Somehow it all seems very predictable doesn’t it? I think we even had a thread about this where we did predict such action when the BA CWC deal went down. To lazy to dig it up.

Dealhunter agreed that there is lot’s of blame to go around. So let the players all work it out between themselves. My tax money still needs to build bridges to nowhere.

and yeah I have sent mucho mails and faxes to my ever so helpful elected officials.

SD Realtor

[SD Realtor]

FLU I think B of A played the hand perfectly. Somehow it all seems very predictable doesn’t it? I think we even had a thread about this where we did predict such action when the BA CWC deal went down. To lazy to dig it up.

Dealhunter agreed that there is lot’s of blame to go around. So let the players all work it out between themselves. My tax money still needs to build bridges to nowhere.

and yeah I have sent mucho mails and faxes to my ever so helpful elected officials.

SD Realtor

[SD Realtor]

FLU I think B of A played the hand perfectly. Somehow it all seems very predictable doesn’t it? I think we even had a thread about this where we did predict such action when the BA CWC deal went down. To lazy to dig it up.

Dealhunter agreed that there is lot’s of blame to go around. So let the players all work it out between themselves. My tax money still needs to build bridges to nowhere.

and yeah I have sent mucho mails and faxes to my ever so helpful elected officials.

SD Realtor

[SD Realtor]

FLU I think B of A played the hand perfectly. Somehow it all seems very predictable doesn’t it? I think we even had a thread about this where we did predict such action when the BA CWC deal went down. To lazy to dig it up.

Dealhunter agreed that there is lot’s of blame to go around. So let the players all work it out between themselves. My tax money still needs to build bridges to nowhere.

and yeah I have sent mucho mails and faxes to my ever so helpful elected officials.

SD Realtor

[SD Realtor]

FLU I think B of A played the hand perfectly. Somehow it all seems very predictable doesn’t it? I think we even had a thread about this where we did predict such action when the BA CWC deal went down. To lazy to dig it up.

Dealhunter agreed that there is lot’s of blame to go around. So let the players all work it out between themselves. My tax money still needs to build bridges to nowhere.

and yeah I have sent mucho mails and faxes to my ever so helpful elected officials.

SD Realtor

[Coronita]

Ah yes, found the thread.

 

http://piggington.com/bank_of_america_to_buy_countrywide_for_4billion

…See my comment 4-5th down…Reposted here…

 

 ——

 

The biggest question here is: Did BofA guess right, or wrong? The acquisition was at a considerable discount from the previous market cap, but the company is in disarray, with many thinking the worst is yet to come. It will be interesting to see how this plays out.

My guess is that they won't be doing the cleanup without assistance from the Gov. I'm sure they'll get some deal from the Fed. Fed will just use BofA as a proxy to do the toxic cleanup. I wasn't kidding in the previous post about all BofA doing "one time restructing charges" for the next couple of quarters or years….They'll just keep playing the game "we beat estimates before the one time charges", but here are the one time charges related to the CFC acquisition. You spread the loss over a couple of quarters over a few years, with the assistance of cash infusion from Fed or foreign companies ,possibly sell off some of this toxic waste at a huge discount to offshore investors, and in a few years, problem magically goes away. Lol….

 

They're already starting to play this game:

Bank of America expects a $1.2 billion restructuring charge from the transaction, and said it will need a couple of billion dollars of new capital to help preserve its capital ratios.

The next time, it will be another 1.2 billion. Do this across 8 quarters, you got a nice 10.6 billion in charges you just passed through over the course of 2 years, while still being able to look great to wall street ("it was only the one time restructuring charges".) This would be great for BofA to clean their own house too, everything bad is related to the restructuring.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Ah yes, found the thread.

 

http://piggington.com/bank_of_america_to_buy_countrywide_for_4billion

…See my comment 4-5th down…Reposted here…

 

 ——

 

The biggest question here is: Did BofA guess right, or wrong? The acquisition was at a considerable discount from the previous market cap, but the company is in disarray, with many thinking the worst is yet to come. It will be interesting to see how this plays out.

My guess is that they won't be doing the cleanup without assistance from the Gov. I'm sure they'll get some deal from the Fed. Fed will just use BofA as a proxy to do the toxic cleanup. I wasn't kidding in the previous post about all BofA doing "one time restructing charges" for the next couple of quarters or years….They'll just keep playing the game "we beat estimates before the one time charges", but here are the one time charges related to the CFC acquisition. You spread the loss over a couple of quarters over a few years, with the assistance of cash infusion from Fed or foreign companies ,possibly sell off some of this toxic waste at a huge discount to offshore investors, and in a few years, problem magically goes away. Lol….

 

They're already starting to play this game:

Bank of America expects a $1.2 billion restructuring charge from the transaction, and said it will need a couple of billion dollars of new capital to help preserve its capital ratios.

The next time, it will be another 1.2 billion. Do this across 8 quarters, you got a nice 10.6 billion in charges you just passed through over the course of 2 years, while still being able to look great to wall street ("it was only the one time restructuring charges".) This would be great for BofA to clean their own house too, everything bad is related to the restructuring.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Ah yes, found the thread.

 

http://piggington.com/bank_of_america_to_buy_countrywide_for_4billion

…See my comment 4-5th down…Reposted here…

 

 ——

 

The biggest question here is: Did BofA guess right, or wrong? The acquisition was at a considerable discount from the previous market cap, but the company is in disarray, with many thinking the worst is yet to come. It will be interesting to see how this plays out.

My guess is that they won't be doing the cleanup without assistance from the Gov. I'm sure they'll get some deal from the Fed. Fed will just use BofA as a proxy to do the toxic cleanup. I wasn't kidding in the previous post about all BofA doing "one time restructing charges" for the next couple of quarters or years….They'll just keep playing the game "we beat estimates before the one time charges", but here are the one time charges related to the CFC acquisition. You spread the loss over a couple of quarters over a few years, with the assistance of cash infusion from Fed or foreign companies ,possibly sell off some of this toxic waste at a huge discount to offshore investors, and in a few years, problem magically goes away. Lol….

 

They're already starting to play this game:

Bank of America expects a $1.2 billion restructuring charge from the transaction, and said it will need a couple of billion dollars of new capital to help preserve its capital ratios.

The next time, it will be another 1.2 billion. Do this across 8 quarters, you got a nice 10.6 billion in charges you just passed through over the course of 2 years, while still being able to look great to wall street ("it was only the one time restructuring charges".) This would be great for BofA to clean their own house too, everything bad is related to the restructuring.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Ah yes, found the thread.

 

http://piggington.com/bank_of_america_to_buy_countrywide_for_4billion

…See my comment 4-5th down…Reposted here…

 

 ——

 

The biggest question here is: Did BofA guess right, or wrong? The acquisition was at a considerable discount from the previous market cap, but the company is in disarray, with many thinking the worst is yet to come. It will be interesting to see how this plays out.

My guess is that they won't be doing the cleanup without assistance from the Gov. I'm sure they'll get some deal from the Fed. Fed will just use BofA as a proxy to do the toxic cleanup. I wasn't kidding in the previous post about all BofA doing "one time restructing charges" for the next couple of quarters or years….They'll just keep playing the game "we beat estimates before the one time charges", but here are the one time charges related to the CFC acquisition. You spread the loss over a couple of quarters over a few years, with the assistance of cash infusion from Fed or foreign companies ,possibly sell off some of this toxic waste at a huge discount to offshore investors, and in a few years, problem magically goes away. Lol….

 

They're already starting to play this game:

Bank of America expects a $1.2 billion restructuring charge from the transaction, and said it will need a couple of billion dollars of new capital to help preserve its capital ratios.

The next time, it will be another 1.2 billion. Do this across 8 quarters, you got a nice 10.6 billion in charges you just passed through over the course of 2 years, while still being able to look great to wall street ("it was only the one time restructuring charges".) This would be great for BofA to clean their own house too, everything bad is related to the restructuring.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

You know..I did call this a few posts ago… Let me dig the thread up… 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

You know..I did call this a few posts ago… Let me dig the thread up… 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

You know..I did call this a few posts ago… Let me dig the thread up… 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

You know..I did call this a few posts ago… Let me dig the thread up… 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[shaggydoo]

pnilesh, your proposal is grounded in some common sense. Therefore it will never get implemented as govt policy unfortunately.

[davelj]

I’ll repeat myself, as I often do… All of Wall Street and the big banks love Adam Smith’s invisible hand right up until the moment it gives them the middle finger. When the two are in conflict, I have generally found that one’s innate instinct for survival trumps most previously-help philosophical beliefs. That’s part of our evolution.

[davelj]

I’ll repeat myself, as I often do… All of Wall Street and the big banks love Adam Smith’s invisible hand right up until the moment it gives them the middle finger. When the two are in conflict, I have generally found that one’s innate instinct for survival trumps most previously-help philosophical beliefs. That’s part of our evolution.

[davelj]

I’ll repeat myself, as I often do… All of Wall Street and the big banks love Adam Smith’s invisible hand right up until the moment it gives them the middle finger. When the two are in conflict, I have generally found that one’s innate instinct for survival trumps most previously-help philosophical beliefs. That’s part of our evolution.

[davelj]

I’ll repeat myself, as I often do… All of Wall Street and the big banks love Adam Smith’s invisible hand right up until the moment it gives them the middle finger. When the two are in conflict, I have generally found that one’s innate instinct for survival trumps most previously-help philosophical beliefs. That’s part of our evolution.

[davelj]

I’ll repeat myself, as I often do… All of Wall Street and the big banks love Adam Smith’s invisible hand right up until the moment it gives them the middle finger. When the two are in conflict, I have generally found that one’s innate instinct for survival trumps most previously-help philosophical beliefs. That’s part of our evolution.

[LA_Renter]

I found this on Big Picture. It is an interview with George Magnus, the senior economic advisor for UBS. He explains the Minsky moment and basically says “you ain’t seen nothing yet” regarding the sheer scale of the Govt bailout he expects here in the US. He anticipates a Trillion dollar meltdown. There are three parts in video form that run back to back. Very very interesting indeed.

http://www.ft.com/cms/893ac9c8-757e-11dc-b7cb-0000779fd2ac.html

[LA_Renter]

I found this on Big Picture. It is an interview with George Magnus, the senior economic advisor for UBS. He explains the Minsky moment and basically says “you ain’t seen nothing yet” regarding the sheer scale of the Govt bailout he expects here in the US. He anticipates a Trillion dollar meltdown. There are three parts in video form that run back to back. Very very interesting indeed.

http://www.ft.com/cms/893ac9c8-757e-11dc-b7cb-0000779fd2ac.html

[LA_Renter]

I found this on Big Picture. It is an interview with George Magnus, the senior economic advisor for UBS. He explains the Minsky moment and basically says “you ain’t seen nothing yet” regarding the sheer scale of the Govt bailout he expects here in the US. He anticipates a Trillion dollar meltdown. There are three parts in video form that run back to back. Very very interesting indeed.

http://www.ft.com/cms/893ac9c8-757e-11dc-b7cb-0000779fd2ac.html

[LA_Renter]

I found this on Big Picture. It is an interview with George Magnus, the senior economic advisor for UBS. He explains the Minsky moment and basically says “you ain’t seen nothing yet” regarding the sheer scale of the Govt bailout he expects here in the US. He anticipates a Trillion dollar meltdown. There are three parts in video form that run back to back. Very very interesting indeed.

http://www.ft.com/cms/893ac9c8-757e-11dc-b7cb-0000779fd2ac.html

[LA_Renter]

I found this on Big Picture. It is an interview with George Magnus, the senior economic advisor for UBS. He explains the Minsky moment and basically says “you ain’t seen nothing yet” regarding the sheer scale of the Govt bailout he expects here in the US. He anticipates a Trillion dollar meltdown. There are three parts in video form that run back to back. Very very interesting indeed.

http://www.ft.com/cms/893ac9c8-757e-11dc-b7cb-0000779fd2ac.html

[shaggydoo]

pnilesh, your proposal is grounded in some common sense. Therefore it will never get implemented as govt policy unfortunately.

[shaggydoo]

pnilesh, your proposal is grounded in some common sense. Therefore it will never get implemented as govt policy unfortunately.

[shaggydoo]

pnilesh, your proposal is grounded in some common sense. Therefore it will never get implemented as govt policy unfortunately.

[shaggydoo]

pnilesh, your proposal is grounded in some common sense. Therefore it will never get implemented as govt policy unfortunately.

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