Geithner Going?

[blazespinnaker]

Re: Geithner Going?

Dude,

A. What PLANET do you live on?

B. You think the PPIP is going to work!?!? OMG!!!! ROFL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

No, I don't know if it's going to work. I was simply sayiing that Geithner lives or dies based on ppip.

Nobody here 'knows' if it's going to work. We can estimate probabilities, but for those who think they can estimate with a very high degree of confidence they should probably ask themselves why they aren't billionaires already if they are so good at predicting the future.

[don]

Re: Geithner Going?

I'd say most of what they have tried is working to perfection.

They have managed to launder hundreds of billions of dollars into insolvent banks, most of which cannot even be pursued. The rules were changed to allow them to take care of their friends and future employers by recategorizing them as bank holding companies. And not one sitting CEO, CFO or board of directors at the banks has been thrown overboard for malfeasance. And now we witness the coup de gras as 3/4s of a trillion or so in toxic sludge makes its way from the banks balance sheet to the future taxpayer bill.

It just depends on one's point of view. For the powerful Wall Street types it has been a wonderful sequence of events.

Will

Reminds me of Iraq. Permanent bases in the desert was always very high on the list. Mission accomplished, even if it took longer than expected. Which also had an upside. More war profiteering. Where's Arthur Miller when we need an All My Sons update

[jtabeb]

Re: Geithner Going?

No, I don't know if it's going to work. I was simply sayiing that Geithner lives or dies based on ppip.

Nobody here 'knows' if it's going to work. We can estimate probabilities, but for those who think they can estimate with a very high degree of confidence they should probably ask themselves why they aren't billionaires already if they are so good at predicting the future.

Time, just need more time (compounding at 35% annualized, 4 more years tops and I'm done)

But on to your main argument "Objectivism" doesn't work, which is what you are really saying, well I would objectively disagree with you because you can objectively prove that objectivism works, by looking at past performance.

You think there is a reason that the people following itulip's financial postioning didn't loose any money last year when most people's 401Ks were down 40%. What about the gains in gold since 1999, lucky too?

What you fail to address is that while objectivism can't reveal timing, it shows what will happen as (n) approaches infinity with remarkable accuracy.

No BS, we can't tell you "when", but we can do ultimate conclusions like "yes" and "no".

Otherwise this whole site would have no predicive value whatso ever.

[jk]

Re: Geithner Going?

And now we witness the coup de gras as 3/4s of a trillion or so in toxic sludge makes its way from the banks balance sheet to the future taxpayer bill.

while the coup de grace is the mercy shot to put someone out of his misery, the coup de gras- the blow of fat - does seem more appropriate here.

[Penguin]

Re: Geithner Going?

oops...

Cannot believe I did that. Well, maybe I can. Seems the funniest things in life are unintentional doesn't it.

'blow of fat'.... kind of like beating someone to death with a clubbed seal or a strap of whale blubber.

Will

[goadam1]

Re: Geithner Going?

Reminds me of Iraq. Permanent bases in the desert was always very high on the list. Mission accomplished, even if it took longer than expected. Which also had an upside. More war profiteering. Where's Arthur Miller when we need an All My Sons update

It's exactly like the War. The lies, the goals and the crony profits all have parallels. I do take reassurance that America won't founder so badly, as long as they need a base to keep the War machine going. Pirates, here we come!

[ASH]

Re: Geithner Going?

Bing bing bing bing: we have a winner.

Agree.

... and in an attempt to make this something more than a "me too" post -- what do you guys think about the idea that relaxing mark-to-market rules has removed a lot of the incentive for banks to sell to the ppip? Sorry if this has been covered in detail already -- I've been traveling and out of the loop.

[Chomsky]

Re: Geithner Going?

Agree.

... and in an attempt to make this something more than a "me too" post -- what do you guys think about the idea that relaxing mark-to-market rules has removed a lot of the incentive for banks to sell to the ppip? Sorry if this has been covered in detail already -- I've been traveling and out of the loop.

We've missed you.

Seems logical; that's why there have been reports that the "stress tests" the banks are undergoing, while utterly, totally rigged so that all 19 banks will "pass" a priori, will be used as a cudgel by the government to "force" banks to sell their assets via the PPIP.

Regulators recognize that for the tests to be credible, not all of the banks can be winners. And it is becoming increasingly clear, industry insiders say, that the government will use its findings to press certain banks to sell troubled assets. The hope is that by cleansing their balance sheets, banks will be able to lure private capital, stabilizing the entire industry.

http://www.nytimes.com/2009/04/09/bu...tml?ref=global