Another reason why bailout will FAIL !

[GRG55]

Re: Another reason why bailout will FAIL !

Looks to me that they are calling in some of that earlier flood of Treasuries, now bid up and overvalued, to exchange them for something else Paulson's friends on Wall Street have flooded the markets with...currently in abundance and apparently available at a steep discount if the Trez Secretary is to be believed. It would seem there is no shortage of holders of Treasuries that would love to exchange them for something else. Anything else. ;)

Gaining traction...

$5 Trillion Cash Pool Needed to Stop Rout, Ohmae Says
Sept. 23 (Bloomberg) -- Treasury Secretary Henry Paulson's $700 billion plan to buy devalued assets from financial companies is ``a joke'' because it doesn't go far enough to calm markets, said Kenichi Ohmae, president of Business Breakthrough Inc.

Ohmae, nicknamed ``Mr. Strategy'' during his 23 years as a McKinsey & Co. partner, called for a $5 trillion ``international facility'' to be made available to financial institutions. The system could be modeled on one used by Sweden during its banking crisis in the early 1990s, he said...

...One way of funding the $5 trillion facility would be through contributions from foreign exchange reserves in China, Japan, Taiwan, the Gulf states, the European Union and Russia, Ohmae said...

[VIT]

Re: Another reason why bailout will FAIL !

Gaining traction...

Ohmae, nicknamed ``Mr. Strategy'' during his 23 years as a McKinsey & Co. partner, called for a $5 trillion ``international facility'' to be made available to financial institutions. The system could be modeled on one used by Sweden during its banking crisis in the early 1990s, he said...

...One way of funding the $5 trillion facility would be through contributions from foreign exchange reserves in China, Japan, Taiwan, the Gulf states, the European Union and Russia, Ohmae said...

I do not see how it is possible that this would happen: all these countries start to help Wall Street What is the price US can pay for that ?

[Roughneck]

Re: Another reason why bailout will FAIL !

hanky panky admitted in testimony today that 700 B is only about 5% of the total of wothless assets. That is not including the 50 T in derrivatives waiting to implode. 700 B is a drop in the bucket. They are just hoping that it will "restore confidence in the market" so banks will loosen up some money and the economy doesn't seize up.Didn't he say just recently the system was "fundamentally sound".He is basically selling out our future to prevent some temporary hard times.Not to mention the immense power grab going on.Why do we even bother voting for president?

[icm63]

Re: Another reason why bailout will FAIL !

..."hanky panky admitted in testimony today that 700 B is only about 5% of the total of wothless assets."...

Quote .."You can not be Serious"... End Quote
http://www.youtube.com/watch?v=b4VvBynKsM0


Where is the link to confirm this was said in testimony, please cough up !

[GRG55]

Re: Another reason why bailout will FAIL !

I do not see how it is possible that this would happen: all these countries start to help Wall Street What is the price US can pay for that ?

I imagine there's quite a few things that have happened in recent weeks that you, and many of the rest of us, would also not have thought possible just a few short months ago...;)

[Supercilious]

Re: Another reason why bailout will FAIL !

I imagine there's quite a few things that have happened in recent weeks that you, and many of the rest of us, would also not have thought possible just a few short months ago...;)

If by any chance you were talking to me, that statement would be incorrect ...