dagblog - Comments for "The Shadow Budget: The Fed Enables the Biggest Gangsta-Heist Ever"

LOL! And then you give 'em

we are stardust — Sat, 16 Apr 2011 22:26:13 +0000

In reply to "How could anyone not agree

LOL! And then you give 'em that Obey glare. ;o) Work, writing going okay?

This one's not too bad:

http://www.youtube.com/watch?v=yipV_pK6HXw&feature=related

Oh, those Canuckistans! They

we are stardust — Sat, 16 Apr 2011 19:08:18 +0000

In reply to Okay, but it should at least

Oh, those Canuckistans! They got some buns, ain't they? Whaaaa? They hadda go and burn the burger?? Guess you still could chop the sucker up and sell it as CDSs since it's burnt...

Okay, but it should at least

kyle flynn — Sat, 16 Apr 2011 19:02:55 +0000

In reply to Hell, kyle; I'd settle for a

Okay, but it should at least be the world's biggest.

http://www.youtube.com/watch?v=Z7hbBMFBTx8

Peek at Obey's and NCD's

we are stardust — Sat, 16 Apr 2011 18:49:02 +0000

In reply to Sorry I missed the party!

Peek at Obey's and NCD's links, too. And as Obey points out: a media veil of invisiblity. Shoot; no one's writing even about Matt's piece as far as I can tell. And he made it so user-friendly, I thought I'd make it even more user-friendly (for the economically barely-literate, that is). ;o)

The bankers' wives had something you don't have dear, no matter that you would be infintely better at managing a porfolio: they had those husbands, no matter that one of them was under investigation. It and politics may be the two fields in which that's a PLUS!

Hell, kyle; I'd settle for a

we are stardust — Sat, 16 Apr 2011 18:41:26 +0000

In reply to And I'm sure you'd settle for

Hell, kyle; I'd settle for a hamburger Today and not Paying You on Tuesday. ;o)

And I'm sure you'd settle for

kyle flynn — Sat, 16 Apr 2011 18:08:29 +0000

In reply to Sorry I missed the party!

And I'm sure you'd settle for half in cash. Hell, you could likely satisfy me with a cool mil. I wouldn't complain a bit. In fact, you'd never hear from me again. Promise.

Sorry I missed the party!

Michael Maiello — Sat, 16 Apr 2011 17:58:35 +0000

In reply to The Shadow Budget: The Fed Enables the Biggest Gangsta-Heist Ever

Sorry I missed the party! What a great round up of chicanery, Stardust. I am really livid about the banker wives. If they qualified for TALF loans on those terms, so does everyone else in America. Frankly, I could do a better job running a loan portfolio. Where's my shot, Timmy G?

"How could anyone not agree

Obey — Sat, 16 Apr 2011 16:39:18 +0000

In reply to Guess you must mean:

"How could anyone not agree with me? ".

... I ask myself that every damn day...

;0)

Guess you must mean:

we are stardust — Sat, 16 Apr 2011 15:41:38 +0000

In reply to Not much digging at all

Guess you must mean: 'self-imposed media balckout', which is a huge part of the problem we face. I kinda had hoped fdl would front-page this, so Matt's simple version could be facebooked or whatever all that SN stuff is.

I see what you mean about the 20/70 ratio being bad; but then there are all these other programs, too, and there are likely more billions, trillions that will never be repaid.

A guy put this up at my.fdl, Farrell at marketwatch warning of revolution, advising taxing the uber-wealthy; he's not alone.

Shoot; you remember the Xtranormals:

Not much digging at all

Obey — Sat, 16 Apr 2011 15:16:32 +0000

In reply to Nice digging, Obey. Those

Not much digging at all actually. There doesn't seem to be much info out there, still a media black-out on the Fed programs, as far as I can tell. This one story only showed up because the Fund was under investigation by the SEC so the info came out. But it just serves to show how shoddy the due diligence was on the part of whoever was serving as loan officer here. These guys were in finance, sure, but they had no experience with ABS and were going broke. To all intents and purposes, they were worse than the banker housewives (who were probably getting 'advice' from hubby, right?), these hedgies were like desperate housewives, with nothing left to lose and willing to risk tax-payer money at any cost to save their business.

They had no money to repay investors, so they just asked the Fed to fork over the money, traded in whatever toxic assets they had for spanking new non-recourse Fed loans, and voilà - back in business baby! Totally irresponsible on the part of the Fed to extend that loan.

20 billion is actually a lot to have outstanding on 70 billion in total extended. This TALF facility should already by law be closed. I.e. that 20 bn is outstanding because the debtors can't sell off the assets without going broke. Period. Those assets are obviously impaired. The only question is HOW MUCH...

What is an Xtranormal? Sounds like a dubious brand of condom or something...