On Mar 10, 2009, at 11:33 AM, Lawrence Sica wrote: > > On Mar 10, 2009, at 2:19 PM, Chris Gehlker wrote: >>> >>> No, they are hiding two things. One is who got the money. The >>> other is what happened to it. The latter will be harder to pin down >>> I am guessing because my hunch is it was poorly accounted. >> >> Well, If you really believe that the banks simply lost track of the >> money you need to explain why we should give them more as opposed to >> arresting the executives and seizing their assets. If you personal >> financial advisor told you 'Sorry, I seem to have misplaced your >> money. I don't know what happened.' would your impulse really be to >> cover it up? > > I did not mean the banks. I meant the Bush admin.
I don't understand. > [snip] > Sweden and Japan are not exactly stellar examples right now. Sweden is *the* stellar example. Japan is only criticized because the propped up their zombie banks for 10 years and nothing got better. > What I mean is "creative accounting" to control how these looked and > the actual risk involved plus the use of various loopholes to let > other things happen. Sorry I did not think I had to spell that > out. You've had issues where loss was being seen but not reported > in a timely manner or just plain ignored for short term appearances > of profit. You also had lenders in essence double dipping with > regards to these bad loans and making money off the hope it would > foreclose when prices were high. You also had manipulation of > various markets. It's not just simply "cds was bad." This still sounds like you think covering up fraud, and giving those who committed the fraud more money, is a good idea. How can a run on a bank be a bad thing if the bank is a criminal conspiracy? > > >> >>> >> >> You need to tie this together, Larry. The question isn't 'Do you >> banks >> have a lot fewer assets than you claim?' which goes to confidence. >> The question is 'What did you do with the TARP money?'. To the latter >> question I can't imagine a more confidence destroying answer than "I >> won't tell you." unless it's "I don't know." > > Well see if you publicly make every bank who got TARP money declare > what they did with it doesn't that mean saying who did it? Like I > said before do it in private for now, when the time comes make it > public. I am tying it together, you just are not listening beyond > your premise it must be made public now. I'm not understanding. - God must have loved the people in power, for he made them so much like their own image of him. -Kenneth Patchen _______________________________________________ OSX-Nutters mailing list | [email protected] http://lists.tit-wank.com/mailman/listinfo/osx-nutters List hosted at http://cat5.org/
