JimBowie1958
Old Fogey
- Sep 25, 2011
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- #21
We agree that it's possible for bad decisions by key officials to have bad consequences. I'm not sure what your thinking is here, but what the US economy has in it is just not compatible with the idea that--...the essential problem was when the government agreed to assume the bankers debts because they were just TBTF. So why do you find it so impossible to happen here....
1--two banks have CDS derivative portfolios that represent liabilities totaling $154T,
2--they could transfer the total $154T CDS losses into FDIC insured accounts,
3--and convince the FDIC to cover the losses at the taxpayer's expense.
1 - done
2 - done
3 - No, they do not need FDIC approval since they have the resources to tie this up in court and use their political influence (which is HUGE) to get their way since most people find the whole thing unbelievable. They are wrong as it is happening as we speak.
My feeding my family depends on my being a number geek--
Wow, and you are still alive; go figure, lol.
-- so I have to look at, accept, and work with the US economy as it is. Anyone who believes that three step scenario would have to be a---
Your responses are little more than ad hominem attacks with no rebutal made that amounts to anything more than, 'You still havent convinced me so show me something else'.
Why you are so determined to troll this topic is something I do not understand.
But I do know that you are a waste of time.