More on the Geithner Plan. The problem of banks buying the assets from themselves

Category: Bailouts, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

8 Responses to “Geithner Plan II”

  1. Stephan says:

    The Geithner Plan is simply the follow-up to an already ongoing PPC (Public Private Collusion) against the US taxpayer. More here:

  2. untamed says:

    What if the bank bid a price for $1,000,000 for every $100 toxic asset?

  3. thezo says:

    I just read about “CDO-squared” and from what i read they are similar to the leveraged etfs such as FAS or FAZ.

    So we have leverage on already internally leveraged derivatives? It’s like more shit and a bigger fan…

  4. RiskFreeMate says:

    don’t forget as well that banks may use the money and these special vehicles to tap losses in deteriorating portfolios (credit cards, consumer loans) it’s like going again on teh wild ride of SIV of German Landesbanken

  5. Mikey says:

    The conclusions of the video makes me SO ANGRY!!! Barry please make this a cause célèbre to get out the populist torches and pitch forks. From this past week’s Sunday news shows I thought that the Geithner may have “got it” and not been captured by Wall Street. This video say that THIS IS NOT TRUE!!!

    Congress needs to hold public officials accountable (read Congressional hearings), maybe like former Goldman Sachs banker and now acting Assistant Treasury Secretary and TARP architect Neel Kashkari.

    Wow, I cannot express how ANGRY I am. Barry, please make this your cause célèbre!!!!

  6. Mikey says:

    Oops, I would like to apologize to Assistant Secretary Kashkari. Although someone should be held accountable (obviously Geithner is too busy to think things through), I shouldn’t demonize anyone.