RSS available
| MarketTicker Forums Read Message in Ticker |
User: Not logged on
|
| Top | Forum Top | Login | Control Panel | FAQ | Register | Logout |
| Showing Page 1 of 3 | First | 1 | 2 | 3 | Last |
| User Info | The Looting Has Become Brazen in forum [Ticker] | |||
|
Genesis Posts: 71431 Incept: 2007-06-26 
KD^2 
|
http://market-ticker.org/archives/1065-T....
---------- "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
2009-05-27 10:34:39
Permalink | |||
|
Keewaydin Posts: 1547 Incept: 2007-08-22 
Just a fleshwound!
|
Well said, Gen. I can't even describe my disgust when that news report came out this morning.
2009-05-27 10:38:34
Permalink | |||
|
Asimov Posts: 26708 Incept: 2007-08-26
east tennessee Online
|
I know it doesn't really matter, but bair did say that banks couldn't bid on their own assets. They could bid on other bank's assets, so it's sorta immaterial in the long run, but you might want to clarify that before somebody calls you on it. ---------- 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.
2009-05-27 10:45:27
Permalink | |||
|
Wineaux Posts: 131 Incept: 2009-03-23
pure Liquid pleasure Online
|
Genesis – I agree with your assessment in theory. However, until I see evidence that the PPIP fund manager qualification process is tainted, as much as I hate to admit, I am going to give Geithner the benefit of the doubt. Keep me honest here, PLEASE!! ---------- What wine goes with unemployment?
2009-05-27 10:48:14
Permalink | |||
|
Boshaugh Posts: 1886 Incept: 2008-08-08
Northern Virginia/DC Metro Area
|
How do you stop it? Call my Congressman? I get a form letter
2009-05-27 10:51:57
Permalink | |||
|
Tsberts Posts: 1809 Incept: 2008-02-05
Minnesota
|
Wouldn't this be a lot like me calling up my bank and saying: "I can no longer afford my mortgage. We need to talk about approving a short sale on the property. The good news is, I've found a buyer willing to offer 25 cents on the dollar, cash, today. "I'm the buyer." ---------- Photoguy was an optimist. In Soviet Russia, the banks are run by the politicians.
2009-05-27 10:58:31
Permalink | |||
|
Stoverny Posts: 250 Incept: 2009-02-25
|
I think this was always Timmy's plan. Maybe they've decided it's better to commit the theft in broad daylight, than be accused of a cover-up later.
2009-05-27 10:58:39
Permalink | |||
|
Iliketrends Posts: 1919 Incept: 2007-11-26 
Teyshas
|
Quote:How do you stop it? Call my Congressman? I get a form letter Lead Noose ---------- “The danger to America is not Barack Obama but a citizenry capable of entrusting a man like him with the presidency. It will be easier to limit and undo the follies of an Obama presidency than to restore the necessary common sense and good judgment to a depraved electorate willing to have such a man for their president
2009-05-27 11:00:36
Permalink | |||
|
Boshaugh Posts: 1886 Incept: 2008-08-08
Northern Virginia/DC Metro Area
|
Actually TS its even more criminal then that. its like you claiming there was no market for your house will you were buying additional crappy houses at the same time so you could sell those crappy houses you bought plus your crappy house to a taxpayer funded program and keep the profits
2009-05-27 11:01:57
Permalink | |||
|
Koaj Posts: 957 Incept: 2009-02-03
NJ Online
|
so i get this straight before more steam comes out of my eyes... -banks sell toxic assets to the govt at some false high price (ex 70 cents/dollar) -once the toxic assets are sold to the government, the same banks then bid on those same assets at 20 cents on the dollar in effect shorting the taxpayer and creating a 50 cents on the dollar black hole that has to be made with from the taxpayer
2009-05-27 11:06:27
Permalink | |||
|
Xqqme Posts: 76 Incept: 2009-01-09
Ohio
|
Here's how they plan to avoid greater deficits! (No, it's not the Fair Tax!) http://www.washingtonpost.com/wp-dyn/con.... Once Considered Unthinkable, U.S. Sales Tax Gets Fresh Look Levy Viewed as Way to Reduce Deficits, Fund Health Reform By Lori Montgomery Washington Post Staff Writer Wednesday, May 27, 2009 With budget deficits soaring and President Obama pushing a trillion-dollar-plus expansion of health coverage, some Washington policymakers are taking a fresh look at a money-making idea long considered politically taboo: a national sales tax. Common around the world, including in Europe, such a tax -- called a value-added tax, or VAT -- has not been seriously considered in the United States. But advocates say few other options can generate the kind of money the nation will need to avert fiscal calamity. At a White House conference earlier this year on the government's budget problems, a roomful of tax experts pleaded with Treasury Secretary Timothy F. Geithner to consider a VAT. A recent flurry of books and papers on the subject is attracting genuine, if furtive, interest in Congress. And last month, after wrestling with the White House over the massive deficits projected under Obama's policies, the chairman of the Senate Budget Committee declared that a VAT should be part of the debate. "There is a growing awareness of the need for fundamental tax reform," Sen. Kent Conrad (D-N.D.) said in an interview. "I think a VAT and a high-end income tax have got to be on the table."
2009-05-27 11:10:56
Permalink | |||
|
Boshaugh Posts: 1886 Incept: 2008-08-08
Northern Virginia/DC Metro Area
|
actually Koaj its worse then that. the craptastic assets are sold by the banks to the 'private buyers' but the gov't is providing non recourse financing on the purchase the all of the default risk goes to the gov't while the private party gets the upside benefit. now the banks also want to get gov't financing on the crappy assets they would like to purchase. keep in mind the banks have been saying these assets dont have a market, and that they're not bad assets per se, they're 'misunderstood' assets whose value will come back (yeah right).
2009-05-27 11:11:43
Permalink | |||
|
Asimov Posts: 26708 Incept: 2007-08-26
east tennessee Online
|
Koaj: They were holding them at or near 100% on their books BEFORE mark to market was done away with. Why the hell should they take a loss by marking them down now when the accounting rules let them mark them at pretty much whatever they want? PIPP is dead in the water unless it's fraudulant sales. ---------- 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.
2009-05-27 11:12:44
Permalink | |||
|
Koaj Posts: 957 Incept: 2009-02-03
NJ Online
|
didnt drill down that far but assumed it would be this way the "private" parties also get to lever up against the taxpayer as well awesome! now that's some hope and change
2009-05-27 11:13:08
Permalink | |||
|
Boshaugh Posts: 1886 Incept: 2008-08-08
Northern Virginia/DC Metro Area
|
I think Obama's biggest regret when he gets the boot in 4 years is that he appointed Geithner
2009-05-27 11:15:26
Permalink | |||
|
Bighiller Posts: 449 Incept: 2009-05-06
Vancouver, CANADA
|
Hahaha!! A national sales tax! Welcome to Canada! Say hello to the GST! When it came in we were told it was temporary. Here we are 18 years later and it's still here AND now we're in a nice little deficit. It's just another way to make the gov fatter and you thinner. It does NOTHING. Revolution is the only way and the only way to revolution is through misery. It's not really the government's fault, it's all of ours. We let this happen. We encourage it. We go to work and pay our taxes. Then we go home to ignore reality. We have set the bar so low that most people are pleased with the system so long as it doesn't break. No improvements, just status quo. ****ing lazy. Mentally and physically. This WILL change, but I doubt it will happen before TSHTF. DEFINITELY going long on ammo and nooses. /****ed off. ---------- Education is improving, but ignorance and stupidity are far more fertile.
2009-05-27 11:19:01
Permalink | |||
|
Anti Posts: 1289 Incept: 2007-10-09
Online
|
Quote:"Bankers see it as a win-win," said Tanya Wheeless, chief executive of the Arizona Bankers Association, which has urged the FDIC to let banks buy their own assets through PPIP. Quote:Towne Bank of Arizona plans to sell some of its soured real-estate loans into PPIP and wants to profit from the program. "We think it would be attractive to our shareholders to be able to share in whatever profits there are from the venture," said CEO Patrick Patrick. I want to kill someone. ---------- Health is better than health insurance http://gerson.org/ Over the past 60 years, thousands of people have used the Gerson Therapy to recover from so-called “incurable” diseases such as cancer, diabetes, heart disease and arthritis. Last modified:
2009-05-27 11:24:46 by anti
| |||
|
Lonestarhog Posts: 64 Incept: 2009-03-06 The Republic of Texas!
|
Quote:If banks are permitted to bid on their own Toxic Assets in the public/private lending auction, it is the same as having a shill at an auction for the purpose of creating the price desired by the bank, thereby preventing any hint of true valuation. -- Jim Sinclair Yup! Hog Last modified:
2009-05-27 11:21:16 by lonestarhog
| |||
|
Purenirvana Posts: 154 Incept: 2009-01-08 U.K
|
"Bankers see it as a win-win" Yeah, no **** Sherlock. I saw a video on Youtube where this guy explained the scam when this program was first announced. Banks buying their own crap with taxpayers money and sending the loss the taxpayers way. Taxpayers see it as lose-lose.
2009-05-27 11:24:56
Permalink | |||
|
Lastchance Posts: 1132 Incept: 2008-11-19 Las Vegas
|
What a way to start the day. Learning a new term. In this case, a Brazen Looting Operation (BLO). It sort of reminds me of what is going on here. Some folks create a LLC, sell a house essentially to themselves, and I guess get some sort of tax benefit. People ask me and I tell them I have no idea how it works. But when the same house sells four times in twelve months, it seems fishy.
---------- "We don't quit. I don't quit" President Obama 1/27/10 Man, I would to have him in one of our poker games.
2009-05-27 11:29:58
Permalink | |||
|
Bighiller Posts: 449 Incept: 2009-05-06
Vancouver, CANADA
|
Answer me this: If you robbed a house filled with blind people and never got caught, would you do it again? Yes. If you robbed a house filled with blind people and got caught but never prosecuted, would you do it again? Yes. If the police don't prosecute, the robber will continue to rob. You can't convince the police to prosecute, so best you can do is protect yourself. There is no reforming this mess. There are people that know they can keep doing all this because no one will or can stop them. We can talk about it all day, but how do you convince the robber to stop doing something that is VERY profitable? My answer: Kick the **** out of him. /frustrated. ---------- Education is improving, but ignorance and stupidity are far more fertile.
2009-05-27 11:32:25
Permalink | |||
|
Trappped Posts: 73 Incept: 2009-02-13 Banned
|
REPOST: AMERICA DOESN'T CARE !!!!! Here is some off topic stuff, but really isn't. I was listening to Peter Shiff's latest video update (on his blog) and he was getting onto the subject of why he isn't seen in the media as much as he was, considering he was famous for calling this downturn 2-3 years ago. I laughed out load when he said he was booted off Good Morning America last month when the Obama's got thier new dog, and that was given precidence. Think about it ? Good Morining America would rather show some mutt than cover what is happening in our eCONomy from a proven expert. Then on AOL this morning they have Clay Aikman's apology to the currnet American Idol as a headline. This point has been stressed repeatedly here..........America doesn't care about what's important !! These rants fall mainly on deaf ears and blind eyes ! The eletist can have thier way.
2009-05-27 11:35:11
Permalink | |||
|
Bighiller Posts: 449 Incept: 2009-05-06
Vancouver, CANADA
|
Trapped : I totally agree. America doesn't care. No one does. Here at work no one has a clue what is going on. They don't care unless a big gun is put in their face. People just don't give 2 ****s. They will when they can't have their lifestyle. If they can't get drunk on Friday night, goto the club and try to get laid. If the sports stop. Basically if their entertainment goes away, then they will get made. So long as TV works, no one will care. Even if taxed to 50% I think people still won't care. Apathy is a curse and revolution is the cure. ---------- Education is improving, but ignorance and stupidity are far more fertile. Last modified:
2009-05-27 11:47:43 by bighiller
| |||
|
Lastchance Posts: 1132 Incept: 2008-11-19 Las Vegas
|
Trapped The generic term America. Isn't half the population under 18? I don't know. But if it is, they mostly have no idea what is going on. Until the lights get shut off. So let's just focus on adults. For starters, I knows lots of people that care, but due to contracts they signed or plain fear, they are not going to post in a public forum. I only have to worry about myself, so I can say whatever I want. The point is lots of folks care. Senator Shelby cares. But he can't post here, or anywhere else for that matter. ---------- "We don't quit. I don't quit" President Obama 1/27/10 Man, I would to have him in one of our poker games.
2009-05-27 11:44:36
Permalink | |||
|
Karlmarxghost Posts: 2640 Incept: 2009-01-26
Stealing Your Property
|
There are plenty of people ****ed off enough to organize. The problem is logistics. Not everyone can travel to Washington to start protesting. On top of it when you get a good protest going it gets hi jacked by some partisan shills who think that Obama is the problem here when in reality its the WHOLE ****ING GOVERNMENT! Here in America a million people made it to Washington to watch Obama speak for 30 minutes and be sworn in but cant find the means to go there because of the blatent theft of our wealth and our civil rights under the Constitution. As long as they keep winning the divide and conquer strategy this theft will continue. ---------- My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally.
2009-05-27 11:47:27
Permalink | |||
| Top | Forum Top | Login | Control Panel | Logout |
| Showing Page 1 of 3 | First | 1 | 2 | 3 | Last |