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Started By
Message
RIP TARP
Posted on 11/19/08 at 5:24 pm
Posted on 11/19/08 at 5:24 pm
LINK
I am still hoping we rise up and tar and feather some of the assclowns responsible for this shite.
quote:
Many banks have tightened lending standards recently, but credit continues to flow in huge volumes. If someone tells me these data are not sufficiently up to date to capture the present "frozen credit market," I say to him, show me your data. I'm open to evidence, but not much impressed by hysterical anecdotes.)
I am still hoping we rise up and tar and feather some of the assclowns responsible for this shite.
1
Posted on 11/19/08 at 5:47 pm to 8thyearsenior
We've been through this several times: It's not consumer credit, it's corporate credit and bank credit. Since Paulson decided to put his fiasco of a plan into reverse, the yields on treasuries have plummeted, and agency and corporate spreads have blown out again. It started last week when CMBS spreads started blowing out, as the oncoming shitstorm of commercial real estate becomes harder and harder to ignore. I'm not sure what kind of stunt they can pull to try and bring the terror level back down this time, it's seems that he either straight up lied to take some stress of off the system (when the TARP was announced), or that he is that clueless.
Posted on 11/19/08 at 7:18 pm to kfizzle85
i think its WAY bigger than he or bernake ever dreamed. 700 billion wouldnt even be close to enough money to buy all the toxic assets.
so instead, they decided to recapitalize the banks. it is just going to take some time before they can write this stuff off of their books.
so instead, they decided to recapitalize the banks. it is just going to take some time before they can write this stuff off of their books.
Posted on 11/19/08 at 8:32 pm to simonizer
I think Bernanke is an extremely intelligent person and has been aware of the severity for awhile. I have a much less high opinion of Paulson, and that he probably bullied Bernanke around on the TARP issue. Completely baseless speculation, of course.
Posted on 11/20/08 at 10:39 am to kfizzle85
I think Paulson is very intelligent too. I think he is more focused on preventing companies from collapsing than he is on solving the TARP issue. He is going to need a job in a couple months, and maybe he doesn't go back to Goldman Sachs. So he wants to insure there will be competition for his services.
Posted on 11/20/08 at 11:02 am to kfizzle85
see BDI and TED Spread. Whoever wrote that article is ignorant.
Its the TRADE CREDIT that is freezing up.
Its the TRADE CREDIT that is freezing up.
Posted on 11/20/08 at 12:59 pm to kfizzle85
quote:
I think Bernanke is an extremely intelligent person and has been aware of the severity for awhile. I have a much less high opinion of Paulson, and that he probably bullied Bernanke around on the TARP issue. Completely baseless speculation, of course.
I think everyone at the fed and most of the people at the treasury are wonks who rely on academic speculation rather than real world dynamics.
Posted on 11/20/08 at 1:04 pm to Tiger JJ
quote:
I think everyone at the fed and most of the people at the treasury are wonks who rely on academic speculation rather than real world dynamics.
Agreed. And I also think that Paulson cant possibly be in this category as he HAS to know how the real world works. The only other possibility is that he's a schyster.
Posted on 11/20/08 at 1:07 pm to Colonel Hapablap
quote:
schyster. (SIC)
Paulson is determined to make sure his friends on WS don't lose a dime. This is what is going on.
Bernanke is clueless to the game.
Posted on 11/20/08 at 1:49 pm to MileHigh
quote:
I think he is more focused on preventing companies from collapsing than he is on solving the TARP issue.
I certainly hope so, but the issue is that TARP was his plan for preventing companies from collapsing.
We can all agree that we have two intelligent individuals with completely different outlooks, but no idea how to combine their expertise. So they compromised on the original TARP, to get the worst of both worlds.
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