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"Bad Asset Repository Fund"

Started by OEXCHAOS , Jan 30 2009 08:00 AM

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#1 OEXCHAOS

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Posted 30 January 2009 - 08:00 AM

From Forbes:

http://www.forbes.co...l?feed=rss_news


First there was TARP. Get ready for BARF.

They haven't named it that yet, but calling a federal "bad bank" to soak up toxic assets the Bad Asset Repository Fund would be truth in advertising at least. Despite Washington's renewed enthusiasm for the idea, there is a strong case to be made against it.


Yeah...Like the name!

:lol:

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#2 maineman

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Posted 30 January 2009 - 08:18 AM

Posted Image

THey already have the logo (from Spaceballs)


mm
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My Blog -Maineman Market Advice

#3 humble1

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Posted 30 January 2009 - 08:25 AM

yeah, really: why not just let everything collapse?

#4 dasein

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Posted 30 January 2009 - 09:13 AM

h - everthing has collapsed already. it is what to do about it.

prolonging lets the criminals soak up the last bits of largesse on the way out, and get out of dodge at a leisurely pace.
they have had us indenture the next two generations, why not extend it to a third...

never underestimate the stupidity of the American people is their mantra, and sadly, it seems true.

there is no legal way to get the money back, of course not - would anyone in Congress write a law harmful to his sponsors?

http://www.nytimes.c...ml?ref=business

the best choice is still Sanders wealth tax.
best,
klh

#5 humble1

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Posted 30 January 2009 - 09:30 AM

:huh: uhg ... there is that "bash america" again: i don't think the vast majority of americans are stupid at all!

#6 stocks

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Posted 30 January 2009 - 10:32 AM

Bank bailout could cost $4 trillion

http://money.cnn.com...sion=2009012704


Global crisis 'has destroyed 40pc of world wealth'

The past five quarters have seen 40pc of the world's wealth destroyed and business leaders expect the global economic crisis can only get worse.

Steve Schwarzman, chairman of private equity giant Blackstone, said an "almost incomprehensible" amount of cash had evaporated since the financial crisis took hold.

"Business will be very different," he added.

His comments came on a day of the World Economic Forum characterised by the gloom of its participants and warnings that the crisis will endure for some time. News Corp chief executive Rupert Murdoch kicked off the meetings by warning that the atmosphere was worsening – despite global economic confidence plumbing the lowest depths on record.

http://www.telegraph...rld-wealth.html
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UNTIL the status quo self-destructs from its own corruption, and the reformers are free to build on its ashes.
 

#7 linrom1

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Posted 30 January 2009 - 11:16 AM

Global crisis 'has destroyed 40pc of world wealth'


Where do they teach this nonsense! This is not wealth that is being vaporized: it's DEBT, or as Karl Marx explained---fictitious capital, that is, assets backed by 'hot air' like all the housing in California inland empire. Of course, someone like Swartzman wouldn't understand that because he has made a career of using bank leveraged debt to racketeer real estate assets.

Unfortunately, they don't teach us how money and credit work, if they did, Swartzman's so-called private equity and the rest of Wall Street and corporate CEOs wouldn't be able to bestow 90% of so called wealth upon themselves.

----the choices are simple: global currency devaluation or depression.

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#8 stocks

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Posted 30 January 2009 - 11:34 AM

Commercial bankers, engaged as they are in unsound fractional reserve credit, are, in the free market, always teetering on the edge of bankruptcy. Hence they are always reaching for government aid and bailout. Investment bankers do much of their business underwriting government bonds, in the United States and abroad. Therefore, they have a vested interest in promoting deficits and in forcing taxpayers to redeem government debt. Both sets of bankers, then, tend to be tied in with government policy, and try to influence and control government actions in domestic and foreign affairs. Murray Rothbard 1984
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Defenders of the status quo are always stronger than reformers seeking change, 
UNTIL the status quo self-destructs from its own corruption, and the reformers are free to build on its ashes.
 

#9 stocks

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Posted 30 January 2009 - 11:54 AM

Inflationists simply do not understand the destruction of bank credit accompanying in conjunction with the decline in asset prices. Nor do they understand the changing attitudes towards debt. This is a once in every 3-4 generational occurrence. Hardly anyone alive has experienced anything but inflation all their lives until about a year or so ago. A rude awakening is at hand.

http://globaleconomi...0-of-world.html
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Defenders of the status quo are always stronger than reformers seeking change, 
UNTIL the status quo self-destructs from its own corruption, and the reformers are free to build on its ashes.
 
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