Exactly why is a “FDR style” Bank Holiday needed and what would it achieve?
Differences between then and now:
1. FDIC – no need for bank runs since FDIC pays depositors for insured amounts when banks fail.
2. If FDIC runs short of funds, Treasury will replenish it, if needed with Congress’s approval. See TARP program of 2008 for precedent.
3. Fed has no restraint or constraint of gold backing or convertibility problem of 1930s (or debt of other nations). So liquidity expansion potential is limitless.
4. Bernanke may or may not know many things; but he has written books on Great Depression. So, one thing he won’t do is repeat 1930’s techniques.
Instead of trying to crack this as a riddle, can you find out who the buyers of those “pocket listings” were? If you get a list of names of buyers, property detail and purchase price, you can see the pattern and draw conclusions. In this market, I don’t believe any buyer is keen to pay anything above low ball prices.
Instead of trying to crack this as a riddle, can you find out who the buyers of those “pocket listings” were? If you get a list of names of buyers, property detail and purchase price, you can see the pattern and draw conclusions. In this market, I don’t believe any buyer is keen to pay anything above low ball prices.
Instead of trying to crack this as a riddle, can you find out who the buyers of those “pocket listings” were? If you get a list of names of buyers, property detail and purchase price, you can see the pattern and draw conclusions. In this market, I don’t believe any buyer is keen to pay anything above low ball prices.
Instead of trying to crack this as a riddle, can you find out who the buyers of those “pocket listings” were? If you get a list of names of buyers, property detail and purchase price, you can see the pattern and draw conclusions. In this market, I don’t believe any buyer is keen to pay anything above low ball prices.
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