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DimPrawn
25th September 2008, 10:16
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?

NoddY
25th September 2008, 10:22
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?

My head is spinning. But it's probably something to do with maintaining mortgage debt servitude for the masses.

sasguru
25th September 2008, 10:26
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.

ratewhore
25th September 2008, 10:27
The bailout will cost every American taxpayer $5,354.

:eek:

expat
25th September 2008, 10:42
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 WALLSTREETBAILOUT@TREASURY.GOV 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 PAULSON

Alf W
25th September 2008, 10:43
Well I'm ready with wheelbarrow and my shovel to get my share of that.

NoddY
25th September 2008, 10:47
expat > class! :laugh

HairyArsedBloke
25th September 2008, 12:02
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.

ace00
25th September 2008, 12:06
For those that give a frack and have access to Bloomberg TV, Jim Rogers is going to be on at 2:05.
..............

Last 2 weeks I have been addicted :laugh It's the best drama on TV.

gingerjedi
25th September 2008, 12:28
This means the 'Abu Dhabi Investment Authority' could afford to save America but bought Man City instead. :rollin:

HairyArsedBloke
25th September 2008, 12:29
Q. What is the capital of the United States?
A. About 10 bucks.