Rather than prop up toxic debt, why not let the banks that caused this mess fail and create new banks with the rescue money?
Why buy toxic debt at inflated prices from bad banks?
Why buy toxic debt at inflated prices from bad banks?
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My head is spinning. But it's probably something to do with maintaining mortgage debt servitude for the masses.Originally posted by DimPrawn View Post -
A slightly better solution is to force all banks to issue shares (no bank wants to do this as it sends a bad signal to the markets). Then the market would decide which banks should be saved and which not, and the capital would be allocated correctly using market mechanisms.Hard Brexit now!
#prayfornodealComment
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The bailout will cost every American taxpayer $5,354.
Older and ...well, just older!!Comment
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DEAR AMERICAN:
I NEED TO ASK YOU TO SUPPORT AN URGENT SECRET BUSINESS RELATIONSHIP WITH A TRANSFER OF FUNDS OF GREAT MAGNITUDE.
I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED THE NEED FOR LARGE TRANSFER OF FUNDS OF 800 BILLION DOLLARS US. IF YOU WOULD ASSIST ME IN THIS TRANSFER, IT WOULD BE MOST PROFITABLE TO YOU.
I AM WORKING WITH MR. PHIL GRAM, LOBBYIST FOR UBS, WHO WILL BE MY REPLACEMENT AS MINISTRY OF THE TREASURY IN JANUARY. AS A SENATOR, YOU MAY KNOW HIM AS THE LEADER OF THE AMERICAN BANKING DEREGULATION MOVEMENT IN THE 1990S. THIS TRANSACTIN IS 100% SAFE.
THIS IS A MATTER OF GREAT URGENCY. WE NEED A BLANK CHECK. WE NEED THE FUNDS AS QUICKLY AS POSSIBLE. WE CANNOT DIRECTLY TRANSFER THESE FUNDS IN THE NAMES OF OUR CLOSE FRIENDS BECAUSE WE ARE CONSTANTLY UNDER SURVEILLANCE. MY FAMILY LAWYER ADVISED ME THAT I SHOULD LOOK FOR A RELIABLE AND TRUSTWORTHY PERSON WHO WILL ACT AS A NEXT OF KIN SO THE FUNDS CAN BE TRANSFERRED.
PLEASE REPLY WITH ALL OF YOUR BANK ACCOUNT, IRA AND COLLEGE FUND ACCOUNT NUMBERS AND THOSE OF YOUR CHILDREN AND GRANDCHILDREN TO [email protected] SO THAT WE MAY TRANSFER YOUR COMMISSION FOR THIS TRANSACTION. AFTER I RECEIVE THAT INFORMATION, I WILL RESPOND WITH DETAILED INFORMATION ABOUT SAFEGUARDS THAT WILL BE USED TO PROTECT THE FUNDS.
YOURS FAITHFULLY MINISTER OF TREASURY PAULSONComment
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Well I'm ready with wheelbarrow and my shovel to get my share of that.Guy Fawkes - "The last man to enter Parliament with honourable intentions."Comment
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expat > class!
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Media Alert
For those that give a frack and have access to Bloomberg TV, Jim Rogers is going to be on at 2:05.
Should be good for a laugh - he thinks that Bernanke is a complete t055er.How did this happen? Who's to blame? Well certainly there are those more responsible than others, and they will be held accountable, but again truth be told, if you're looking for the guilty, you need only look into a mirror.
Follow me on Twitter - LinkedIn Profile - The HAB blog - New Blog: Mad Cameron
Xeno points: +5 - Asperger rating: 36 - Paranoid Schizophrenic rating: 44%
"We hang the petty thieves and appoint the great ones to high office" - AesopComment
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Last 2 weeks I have been addictedOriginally posted by HairyArsedBloke View Post It's the best drama on TV.
Bored.Comment
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This means the 'Abu Dhabi Investment Authority' could afford to save America but bought Man City instead.
Science isn't about why, it's about why not. You ask: why is so much of our science dangerous? I say: why not marry safe science if you love it so much. In fact, why not invent a special safety door that won't hit you in the butt on the way out, because you are fired. - Cave JohnsonComment
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