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Started By
Message
re: $700B vs. Modifying an Accounting Standard
Posted on 9/28/08 at 7:16 pm to Edge
Posted on 9/28/08 at 7:16 pm to Edge
quote:
I'm not replying to your individual comments.
I would if I were in your position too.
You want a proposal? Be the fiscal conservative you claim to be and realize capitalism has booms and busts.. both that provide lessons wealth and yes, heaven forbid some heartache. But you live and learn... if there are casualties including the collateral environment, then so be it.
No instead we race to bail out; we race to scapegoat (ie damn financial statements trying to be transparent with their fair values and disclosure of underlying assumption).
Lets stop the pussification of America and let everyone take the pain they deserve (which yes would include collateral pain to the likes of myself and you)
1
Posted on 9/28/08 at 7:35 pm to igoringa
Whatever dude.
Some race to find solutions. If your solution is to do nothing, that's fine. Nothing wrong with that position. Noted.
quote:
No instead we race to bail out
Some race to find solutions. If your solution is to do nothing, that's fine. Nothing wrong with that position. Noted.
This post was edited on 9/28/08 at 7:49 pm
Posted on 9/28/08 at 7:36 pm to Edge
quote:
Whatever dude.
My your debating and analytical skills are top notch.
Please continue being a fiscal conservative pandering for socialistic responses
Posted on 9/28/08 at 7:40 pm to Edge
quote:
If the government would insure mortgage back debt at ~65 cents on the dollar, then the financial institution would not have to write down the "toxic assets" to ~20 cents on the dollar (fire sale value).
And insuring these instruments was soooo successful for the monolines. So instead of buying the asset and harvesting any value, we are just going to take on the risk of loss without the upside... and this is done to protect me? Thanks buddy, but no thanks.
The only element in this whole equation that would further distort the risk/reward equation and you hang your hat on it... lets have the government take the risk and not the reward of any asset appreciation.
Posted on 9/28/08 at 7:40 pm to igoringa
Don't get upset. You don't need to be ashamed of a "do nothing" position.
Posted on 9/28/08 at 7:48 pm to igoringa
In the ranting, perhaps I missed your position.
Do you want the government to buy these assets to give the taxpayer some upside?
Suppose it would cost $700 billion to buy the assets and $100 billion to insure, would you still recommend having the government buy?
quote:
So instead of buying the asset and harvesting any value, we are just going to take on the risk of loss without the upside... and this is done to protect me? Thanks buddy, but no thanks.
Do you want the government to buy these assets to give the taxpayer some upside?
quote:
The only element in this whole equation that would further distort the risk/reward equation and you hang your hat on it... lets have the government take the risk and not the reward of any asset appreciation.
Suppose it would cost $700 billion to buy the assets and $100 billion to insure, would you still recommend having the government buy?
Posted on 9/28/08 at 7:49 pm to Edge
quote:
Don't get upset. You don't need to be ashamed of a "do nothing" position.
Nothing like hearing a 'fiscal conservative' trying to mock someone who is against market interference. By all means continue to figure out how to beg and plead your big government can save you... please it is quite entertaining.
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