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| User Info | Continued Lying Requires TALF Extension in forum [Ticker] | |||
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Genesis Posts: 71431 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1341-C....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me Last modified:
2009-08-17 10:09:30 by genesis
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Eternalblue Posts: 4230 Incept: 2007-08-09 
sokali
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heh like you say, just another hit of cocaine, and everything will be better, promise
---------- my miniblog; http://economicpsychosis.blogspot.com/
2009-08-17 10:07:22
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Schwantz Posts: 5077 Incept: 2007-11-12
Monkey Do
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Bravo. This is the part that ****es me off the most: "To promote the flow of credit to businesses and households..." What kind of an idiot actually believes this garbage? The POTUS? Oh yeah. ---------- Dives sum, si non reddo eis quibus debeo Smash the Keynesian idiocracy!
2009-08-17 10:08:07
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Asimov Posts: 26714 Incept: 2007-08-26
east tennessee Online
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Short, harsh and dead on point. Nice one.
---------- It's justifiably immoral to try to deal in a moral fashion with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
2009-08-17 10:15:07
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Nuke_engineer Posts: 774 Incept: 2007-08-19
NC
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If Obama had any of that Chicago street smarts left in him he'd be quietly assembling a task force of prosecutors and forensic accounting types to start building the case against Paulson, Bernanke and Geithner. As long as he's started it he can claim he was misled by the advice brought to him from the appointees of the last administration and claim he was quietly working to fix the outrage but events overtook him. If he doesn't, he's toast and may be the first President removed from office by impeachment. I also see Bush and many of his appointees hit will civil suits as well. It's coming to roost or better yet the market is about to be flushed out. ---------- HAL, All trespassers and pigmen vampires must be shot. Survivors will be shot again. I need to buy more ammunition! Scotty, Beam Me Up to the Land of Glass-Stegall!
2009-08-17 10:50:57
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Glock36 Posts: 327 Incept: 2009-06-03 Banned
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Quote:...he's toast and may be the first President removed from office by impeachment... Never Happen! He belongs to a protected ethnic group. Just look at his poll numbers among Afro-Americans. They are still in the stratosphere. You would have riots that would shadow the 1960s. ---------- Black Helicopters Are Like ****roaches, You Never Find Just One Glock36's Law: Murphy Was An Optimist When You Find Yourself In A Hole, Don't Look Out Until You Identify The Type, As It Could Be A Foxhole The Greatest Enemy Of Knowledge Is Not Ignorance, But The Illusion Of Knowledge - Dr. Hawking
2009-08-17 11:04:18
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Torgo Posts: 389 Incept: 2009-01-14
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Quote:If Obama had any of that Chicago street smarts left in him Obama grew up in Hawaii. He spent most of his early life getting high. His "streets smarts" consist of getting Chicago Democrat Machine patronage jobs. He gets to be a rock star president, Wallstreet gets to give out bonus money. It is a win-win as far as he is concerned.
2009-08-17 11:22:02
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Dji Posts: 720 Incept: 2009-04-21
Fleming Island
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To promote the flow of credit to businesses and households and to facilitate the financing of commercial properties, the Federal Reserve and Treasury approved extending TALF loans against newly issued ABS and legacy CMBS through March 31, 2010. more like March 31, 2019. ---------- What goes up Must come Down- Alan Parsons Project THE TRUTH HURTS! -Dji
2009-08-17 11:43:47
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Critter Posts: 188 Incept: 2008-01-26 iowa
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i don't see the difference. when bear was rescued the market went up 500 points that day. why wouldn't this announcement of an extension of "free" money cause a bump up today?
2009-08-17 11:47:43
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Glock36 Posts: 327 Incept: 2009-06-03 Banned
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Quote:...approved extending TALF loans against newly issued ABS... What the hell is this Newly-Issued crap? I assume from this that the crooks are still writing this toxic garbage, only to have the FED loan against it? ---------- Black Helicopters Are Like ****roaches, You Never Find Just One Glock36's Law: Murphy Was An Optimist When You Find Yourself In A Hole, Don't Look Out Until You Identify The Type, As It Could Be A Foxhole The Greatest Enemy Of Knowledge Is Not Ignorance, But The Illusion Of Knowledge - Dr. Hawking
2009-08-17 11:48:14
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Etz3l Posts: 9103 Incept: 2007-06-26
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TALF was not to expire until Dec 31st, 2009. I don't suppose the futures being down around 2% had anything to do with the assclowns coming up with this release... 
---------- Treating the symptoms of financial corruption isn’t the same as removing the causes.
2009-08-17 11:50:01
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Martin Posts: 748 Incept: 2008-01-23
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Karl, Seems to me you and the Fed aren't using the same definition of the term "impaired". You say the market is "impaired" meaning that the markets aren't assigning price based on the facts. The Fed says the market is "impaired" meaning the markets aren't coming up with prices that the Fed would like to see. You say markets will continue to be "impaired" until the lying and fraud stops. The Fed says the markets will continue to be "impaired" until the lies are fully reflected in the market. Same word, different meaning.
2009-08-17 12:22:28
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Steelhead23 Posts: 388 Incept: 2008-09-09 Portland OR Online
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I would like to know the sum of liabilities the U.S. has absorbed through its TALF window. I believe that the series of "loan" windows the Fed has opened during this crisis are the real transfer of risk and wealth of this crisis, not the direct bailouts or the banker bonuses. I recall that Neil Barofsky put out a total taxpayer dollars at risk number of over 20 Trillion dollars. How much of that is TALF and if the collateral (those toxic assets the Fed has taken as sound) were liquidated today, how much would we lose? What gets me is that outrageous banker bonuses get headlines, while this, the real theft from the U.S. taxpayer, is below the fold, if not on the back pages. Wake up America - this is the real outrage! You and your children are being ripped off by the government to enrich a handful of banks and bankers - because you have bought into the assertion that "the system" must be saved or we'll all suffer. You (and we) are being had, tricked, befuddled.
---------- short em all - let God sort em out!
2009-08-17 13:56:00
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Tesla Posts: 8174 Incept: 2008-04-03 
Delaware
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I'm SO glad that the Fed is a private bank and doesn't have the full faith and credit of the US Treasury behind it when it fails...oh wait, nevermind....
---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata
2009-08-17 15:20:04
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Wageslave Posts: 620 Incept: 2008-12-04
San Diego
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I particularly enjoyed Forbes' little ditty on the talf extension. Here's the leading sentence:Quote:Policymakers know the economy's improving, nonetheless they want to extend the Federal Reserve's consumer lending program through the first quarter of 2010. You think the media could get their heads any further up Bernanke's colon? http://www.forbes.com/2009/08/17/talf-fe.... Last modified:
2009-08-17 15:40:40 by wageslave
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Jstanley01 Posts: 2571 Incept: 2008-07-30
San Antonio, Texas
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It's hard for sane people to believe that the Bernankes of the world actually believe that 2+2=5. Sane people tend to react with disbelief when confronted with that kind of denial. The kind that makes an alcoholic -- AFTER he has sacrificed his family, his friends, his career, and his health to the bottle -- STILL ARGUE that he has no problem with drinking. Sane people prefer to count that alcoholic as evil, because it's the only explanation that makes any rational sense. But they're missing the central issue that the concept of denial attempts to deal with, which is the profound irrationality of that alcoholic's sincerely-held beliefs relative to his problem. The evidence is piling higher and higher. Either the Bernankes of the world actually believe that 2+2=5, or they are profoundly evil. I believe that upwards of 90% of the time it's just denial. Which will ameliorate the **** flying from the fan blades and landing on everybody else not one iota. Denial or whatever, blah, blah, blah. I still say "string 'em ALL up, let God sort 'em out." ---------- ...so in short, my fellow Texans, we must secede. "For the children..." --Me Last modified:
2009-08-18 09:07:58 by jstanley01
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Asimov Posts: 26714 Incept: 2007-08-26
east tennessee Online
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Jstanley: Take any two ordinary constants. (e.g. x and y) Make them alike, as in x = y = any non-zero number (in this case, 2) Multiply each by y, but x works equally well (y²=xy). Subtract x² from each equation (y²-x² = xy-x²). Factor y²-x² into (y+x)(y-x) to make ((y-x)(y+x) = xy-x²). Factor xy-x² into x(y-x) to make ((y-x)(y+x) = x(y-x)). Divide by (y-x) to get (y+x=x). Subtract x from both sides of this equation to get y=0. This means that y=0. but since, y equaled 2 in the first case, that means 2 = 0. If you multiply this equation by 2.5, you get 5 = 0. Since 0 + 0 = 0, you can plug in 2 for the first two zeroes, and five for the last one, and then, TA DA! 2 + 2 = 5. (stolen from random person on the intar-web) ---------- It's justifiably immoral to try to deal in a moral fashion with an immoral entity. If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
2009-08-18 08:46:15
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Jstanley01 Posts: 2571 Incept: 2008-07-30
San Antonio, Texas
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Asimov:  I think that random person lifted that math from Bernanke's dissertation. ---------- ...so in short, my fellow Texans, we must secede. "For the children..." --Me Last modified:
2009-08-18 09:12:44 by jstanley01
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Jata1 Posts: 2379 Incept: 2009-03-08
mi
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"If Obama had any of that Chicago street smarts left in him" Obama's chicago street smarts consisted of blowing Richie Daley ---------- Mayorquimby says- My Idea- Everyone gets Dick
2009-08-19 07:24:15
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