Double Dippers

[kx5fast]

Wanna bet we end up buying these from Citi and BofA ?

http://www.nypost.com/seven/03252009...ers_161157.htm

[don]

Re: Double Dippers

Wanna bet we end up buying these from Citi and BofA ?

http://www.nypost.com/seven/03252009...ers_161157.htm

Think of ourselves as the ultimate underwriters. Criminality, not to mention treason, needs to be redefined to frame these nefarious coordinated swindles.

[Supercilious]

Re: Double Dippers

Wanna bet we end up buying these from Citi and BofA ?

http://www.nypost.com/seven/03252009...ers_161157.htm

Yes. I want to bet $100 that will will end up buying all that crap from Citi and BofA. In order to hedge my risk I would buy a CDS on the USA, just in case people will revolt, the FBI will start a financial terrorism division and law enforcement will send TurboTax Timmy and his friends to Guantanamo. The spread on that CDS should be very low, so the cost of protection will be almost negligible

[FRED]

Re: Double Dippers

Wanna bet we end up buying these from Citi and BofA ?

http://www.nypost.com/seven/03252009...ers_161157.htm

Looks like we're all "reloaders" now.

Reloader: n. A sucker with a track record of naivety, ignorance, or just plain stupidity, hence a scam artist's preferred customer. A sucker who has proven his vulnerability is more likely to fall for a subsequent, properly constructed scam than the average person in the telephone directory. For example, a classic follow up fraud is to approach someone who has been defrauded and sell him services to "recover" previous losses. The smartest investors and traders learn from someone else's mistakes, which is good, because nobody lives long enough to make all the mistakes himself. Many people seem to learn only from their own mistakes. Some poor, lost souls don't even learn the hard way. They become "reloaders," two-time losers, or even serial victims.

[Supercilious]

Re: Double Dippers

Looks like we're all "reloaders" now.

Yup. Big time reloaders. What do you think about this:

http://www.bloomberg.com/apps/news?p...d=aynE.0.lETV8

JPMorgan Sues Former Washington Mutual Parent, FDIC (Update1)

By Bob Van Voris
March 25 (Bloomberg) -- JPMorgan Chase & Co. sued the former parent of bankrupt Washington Mutual Inc. and the Federal Deposit Insurance Corp. in an attempt to protect its $1.9 billion purchase of most of WaMu’s assets.
In an adversary proceeding filed in WaMu’s bankruptcy case in Wilmington, Delaware, JPMorgan Chase seeks a declaration that it properly acquired the assets in a sale by the FDIC, which took over WaMu in September. The move comes in response to a lawsuit the thrift filed claiming JPMorgan underpaid for the assets.
“JPMorgan Chase brings this action in order to ensure that JPMorgan Chase and its subsidiaries are not divested of their assets and interests purchased in good faith from the Federal Deposit Insurance Corp.,” JPMorgan Chase said in a complaint filed yesterday.
In addition to a declaration establishing it as the owner of the WaMu assets, JPMorgan asked the bankruptcy court to order WaMu to cooperate in turning over the assets. JPMorgan also claims unspecified damages from the bankrupt thrift.
In its suit, filed March 20 in federal court in Washington, WaMu claimed the FDIC’s failure to deliver an adequate price for the assets, which include branches and deposits, constituted “a taking of plaintiff’s property without just compensation, in violation of the Fifth Amendment of the U.S. Constitution,” according to the complaint.

Wow!!! :eek: Poor JPM, they bought assets in good faith from FDIC, and the greedy taxpayer wants to rip off the poor banksters. The taxpayer has to pay for not giving all that bailout money in good faith, and the courts have to provide a declaration that the acquisition (of what is basically taxpayer money thrown in the WaMu sinkhole ) was "proper". The greedy and crooked taxpayers have to pay for this injustice while, of course providing more bailout for JPM in the future.

Can you imagine this? The parasitic and greedy taxpayer trying to rip off those poor JPM and steal those hard earned executive bonuses and phonest profits from years of manufacturing toxic paper? :eek:

Gee!! Let's hope JPM will be awarded with a well deserved act of justice. With so much injustice where are we going to end?

Now in completely off topic and unrelated news ....

http://news.bbc.co.uk/1/hi/scotland/7962825.stm

The Edinburgh home of former Royal Bank of Scotland boss Sir Fred Goodwin has been attacked by vandals.
Windows were smashed and a Mercedes S600 car parked in the driveway was vandalised.
A group angry at bank executives' pay contacted a newspaper claiming to be behind the early morning attack.
Police said they were investigating these claims as part of their inquiry, adding that they took planned attacks "very seriously".
There has been widespread public and political anger over a pension payout worth about £700,000 a year to the 50-year-old former chief executive.
Sir Fred took early retirement from RBS last year after the bank needed a £20bn bailout from the government.
Last month, RBS reported that it made a loss of £24.1bn in 2008 - the largest annual loss in UK corporate history.

When Sir Fred stepped down from the post in October, he rejected government pressure to accept a reduction in his package, insisting that changes to the early retirement deal he had negotiated were "not warranted".