UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev Thread | Next Thread
Author: TiRien Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 449458  
Subject: I can't believe my lying eyes Date: 10/31/2008 3:14 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 84
http://www.321gold.com/editorials/moriarty/moriarty103008.ht...

This last month has been a real barnburner. I though I had seen everything until I found a couple of new pieces today. The first tells of the Fed supplying new lines of credit to Brazil, Mexico, South Korea and Singapore to, now get this, "help those countries deal with the global credit crisis." The Fed will start off with $30 billion apiece and will make a maximum of $100 billion, per country, available.

...

That wasn't the dumbest thing I have ever heard of. The dumbest thing I have ever heard of comes from Goldman Sachs. Remember the $10 billion dollars we just gave them compliments of the US Congress and their $850 billion dollar bailout?

They are going to hand out bonuses to the tune of an average £3 million for each of the firm's 443 partners. In total, they are going to hand out £7 billion in salary and bonuses out of the £6 billion handed to them by the treasury.
Print the post Back To Top
Author: ajaskey Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 263052 of 449458
Subject: Re: I can't believe my lying eyes Date: 10/31/2008 8:20 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 5
They are going to hand out bonuses to the tune of an average £3 million for each of the firm's 443 partners.


Not sure about that. Cuomo has a fraud law he found and said he would prosecute bonus givers/receivers if any company that got gubmint money gives out bonuses. I assume all the big money went to NY firms.

Print the post Back To Top
Author: washcomp Big gold star, 5000 posts Feste Award Nominee! Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 263054 of 449458
Subject: Re: I can't believe my lying eyes Date: 10/31/2008 8:26 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Some:
C
GS
MS
J.P. MC

Some have businesses here, but headquartered elsewhere:
BAC

Some not:
USB
WFC

(I forget the rest of the list)

I wonder when the major banks will follow Halliburtin and move offshore to Dubai?

Jeff

Print the post Back To Top
Author: TMFOtter Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 263070 of 449458
Subject: Re: I can't believe my lying eyes Date: 10/31/2008 10:24 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 4
Isn't it interesting that the two with minimal operations in New York essentially had to be dragged to the table and had the government money forced down their throats?

Just goes to show that a large gathering of smart people doesn't necessarily make the overall decisionmaking any wiser.

Bill Mann

Print the post Back To Top
Author: kentm401 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 263074 of 449458
Subject: Re: I can't believe my lying eyes Date: 10/31/2008 10:47 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Bill! Where you been man? Your absence has been noted...and you were missed...

KBM (resident worry-wort)

Print the post Back To Top
Author: RodgerRafter Big red star, 1000 posts Feste Award Nominee! Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 263087 of 449458
Subject: Re: I can't believe my lying eyes Date: 10/31/2008 11:58 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Never fear! Barney Frank to the rescue:

"Any use of the these funds for any purpose other than lending -- for bonuses, for severance pay, for dividends, for acquisitions of other institutions, etc. -- is a violation of the terms of the Act," he added.

Or maybe not...

"Our purpose is to increase confidence in our banks ... so that they will deploy, not hoard, their capital. And we expect them to do so, as increased confidence will lead to increased lending," Paulson said.

http://www.reuters.com/article/ousiv/idUSTRE49U4J920081031

If banks increase their loans outstanding at least by the amount the government invests in them it could be claimed that they are loaning that money out.

That doesn't prevent them from ripping off common and preferred shareholders (including the US government) by continuing to pay outsized bonuses to employees.

Print the post Back To Top
Author: RaptorD Big gold star, 5000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 263093 of 449458
Subject: Re: I can't believe my lying eyes Date: 10/31/2008 12:34 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
Ti, that was worth reading just for the disclosure at the bottom:

International Tower Hill is an advertiser and we have participated in private placements in the past. We are biased as we can be.

I love it. If everyone were that honest ....

Dan

Print the post Back To Top
Author: kentm401 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 263121 of 449458
Subject: Re: I can't believe my lying eyes Date: 10/31/2008 3:35 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Memo to Dan..."We" [here at METAR] are....;o)

"We are biased as we can be."
I love it. If everyone were that honest ....
Dan


KBM (Biased and proud of it)

Print the post Back To Top
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev Thread | Next Thread
Advertisement