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Advisor

Re: Don...you saw it

How much of your children and grandchildren future is your comfort worth? You do realize the total value of the banker bailouts is valued at something like $13t. When we are back there again and another bailout is requested to save the financial system should we do it?
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Advisor

A half wit's reply, it's regulating crime, like murder is regulated

   Stupid stupid!  I'm a libertarian not a anarchist, limited government not the law of the jungle.  You just can't help but make a fool of yourself, can you ? 

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Advisor

the answer you wanted don

As to why no one will be prosecuted. And its one you should accept if you operate under the principal that we must avoid a financial system lockup: "From a note just released by Sanford C. Bernstein & Co. Brad Hintz: "Goldman Sachs wont face criminal precaution related to sales of mortgage linked securities because such a move could threaten the US financial system." Curtousy zerohedge.
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Senior Advisor

Re: A half wit's reply, it's regulating crime, like murder is regulated

I guess you pruned that branch, John. Well done!

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Senior Advisor

Re: Don...you saw it

As I understand it tarp was about 700 million and bunch of that has been repaid. $13 trillion must be the entire mortgage market and assuming that everyone will default.. At least I paid my house off and it probably isn't worth what I gave for it. It really doesn't matter because I won't sell it unless we decide we want something better.

 

I think the question of the next bailout should be resolved with regulation and breaking up the too big to fail. My suggestion is for the fed to give a years notice that all banks that engage in speculation will lose their FDIC coverage. Plus it wouldn't hurt to tax that kind of behavior.

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Advisor

Re: Don...you saw it

Try 700 billion. Mostly paid back but not returned to the general fund. It's now a political slush fund. There is bailout funds funneled though AIG to Goldman. There is around 2 trillion in asset purchases on the fed balance sheet. There is the massive infusions to fannie and Freddie with an unlimited backstop Xmas present from timmy. No one really knows our liability in swap lines to foreign central banks. Barofsky the tarp Inspector general estimated the potential $23t.