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Toxic is the new GLD.
It's only plated in toxic, there is gold underneath. These guys know their stuff, trust them.
Exactly. The $45 warrants (exp 2021) look like a decent play - and one could sell some Jan 13 calls against them which carry almost double the implied volatility..
things are getting even more interesting. like find the ball under the 3 cup game except, here we have many cups. (and the "powers that be" have no balls to deal honestly)
Can/will proceeds be POMOd? If so, almost a week's worth, so FRBNY may be buying ahead.
This reminds me of a dog eating its own vomit.
I sort of see an Escher tapeworm myself.
if they owe the US government 39 billion, how are they allowed to 'buy' anything 'til they pay back what they owe?
Money laundering is an endorsed and approved program under the emergency powers act.
Christ; I feel like I'm living in a giant mental asylum.
Nurse Ratched says, "take your pills."
And the inmates are running the asylum.
Yes, and the inmates are running it.
...when performed by players in the circle.
Ah HA HA HA HA HA!
Stop it, my sides are huuurrting.
Or is that my ass?
They're, coming to take me away, ha, ha,
They're, coming to take me away, ho, ho,
He, he, ha, ha,
To the funny farm where life is beautiful all the time with chirping birds and...
New reality TV show tonight at 8:00 pm:
Are you finally going over the edge, Missy? You're a hoot.
I can't wait for the smoke to clear on this deal to see how badly the average U. S. citizen has again been screwed by the FIRE sector. This cannot turn out well.
the fed's balance sheet may actually contract
There are lots of rug out there used to sweep the dead roaches under.
Everything is going to look very peachy in about 6 months.
just another signal that QE3 will be delayed. there will be a smash down of equities/commodities and asset deflation 9get this shit off of the FBNY's balance sheet now, let AIG take the hit, again). the temporary rush into treasuries will give the Treserve enough time before the people realize that the economy is still shit and the bureaucrats start demanding that Bernanke saves us yet again. i'm anticipating the epic BTFD opportunity though.
EXACTLY - screw QE3 they will blow up AIG again and maybe 1 TBTF bank and do TARP II, this time it will be for a few trillion
benmouche and the ny fed screwing the goyim again.
Oy Vey ! On it goes, already.
I could have said "joo york fed" but that would have been redundant.
Allow me to quote the Bard:
Double, double toil and trouble;
Fire burn, and caldron bubble.
Scale of dragon; tooth of wolf;
Witches' mummy; maw and gulf
Of the ravin'd salt-sea shark;
Root of hemlock digg'd i the dark;
Liver of blaspheming Jew;
Gall of goat, and slips of yew
Is that offer at fair value, market value, made up value and paid in pixie dust?
Ass wiping value. It's fiat, does it matter what we call it? Does the number of them matter any more? It is all fiction. At least a good dose of pixie dust might be worth something though...
Good editing, I missed that.
If the bonds are worth so much, then why not bid them back out to market instead of allowing AIG to no bid them?
ding ding ding ding!
It is obvious to me that the $15.7B price is WAY ABOVE what the securities are worth on the open market. Only a government owned company would fork over that kind of taxpayer dough and say that it was a good deal.
"hey, Tarp I was paid back...We even made money on the deal!"
-John Q. Public
Ponzi + 3 card monte= win/win
Anyone care to explain the rationale behind this move ?
Sure. This is just the first step. Next AIG will "buy" the toxic assets of the TBTF banks and then they'll declare bankruptcy. Problem solved.
Wasn't this an episode of South Park ?
You got it. Fed holding a fucking bomb in their lap and they see the timer down to 00:05...time to hand it back to someone they won't feel bad about blowing up.
Not a bad idea... put together all the toxic assets into one company and then play titanic....
It has to do with exceutive bonuses. Look busy.
hahahahaha! one of the better one-liners here.....
Best guess is it's a gesture move to shrink the Fed portfolio.....even though $15b is a relatively short piss in the ocean. Could be a reverse screwing too.....the $15.9b Fed valuation might really be $9b FV. Who really knows which is the fly and the spider in this tangled web but the Berank ?
Yeah. I think. Public relations; it's all part of the emotional tone picture; the warm and fuzzy feeling of the new recovery; also, commish. fees. etc. "A little slice offa the top, for you, eh. Benny". etc.
Yatszeeeee! Complete PR prank designed to deflect attention away from the 200+ point shitbomb the Dow laid today.
Will work on some; won't matter long term.
We're fucking doomed.
"Says conditions that necessitated Maiden lane II have been resolved"
yes - low bonuses in 2008 were rectified with taxpayer money and low levels of control of the country by banksters have been increased dramatically...
and most importantly, the criminal, corrupt, and incompetent management of aig was allowed to survive in order to lumber on to another catastrophe....
Learn about why all of this is really going on. There international bankers will stop at nothing, as foretold by Aaron Russo who was in contact with the Rockefellers before passing. He denied becoming a member of the elite, as he wished to help the people of the world. Please give his work the respect it deserves.
That company should not even exist.
Anyone connected to it should be bankrupt.
And yet, we live in a societe where jackals such as this prosper.
This story wants me to fucking torch their buildings tomorrow. Fucking leeches.
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