Here Are The 29 Public Companies With More Cash Than The US Treasury

Tyler Durden's picture

As was pointed out yesterday, courtesy of a blistering $80 billion cash burn in the first half of July, Tim Geithner managed to reduce Treasury cash balances from $130 billion to $39 billion. Granted this number will increase next week after this week's $66 billion in Treasury auctions settle, only to drop once again when another batch of Bills mature and are not rolled. So in response to various inquiries we present the 29 public companies that hold more cash than the US Treasury does as of July 13 (Geithner is tied with Google at $39 billion). Not very surprising, two of the top 3 are Chinese companies. The third? Bank of America... Surely there is a good reason why BAC is preparing for rainy days.

And in related news, here are the 69 companies whose CDS trade inside of the US, or said otherwise, are perceived as less risky than the US government, whose default risk yesterday hit a one-and-a-half year high.

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swissinv's picture

treasury bitchez

max2205's picture

Freddie Mac????!!!.... I'd have to see it to beleive it!

LawsofPhysics's picture

Mark to unicorn accounting.

eureka's picture

Maybe ALL IS WELL in the USA?

The blowhorn today sayz: Meredith Whitney is losing credibility on Muni-defaults.

BAC full of cash, C beats earnings expectation.

I say we raise the debt ceiling and attack Iran and buy stocks and .... USA USA USA

janus's picture

ALL is always perfectly WELL; till suddenly it ain't...what you've said is witty, and mainly because it's terribly prophetic.  If this Machine is not suddenly halted (and it's got at least a year...year and a half -- maybe two at the outside), we'll be pouring into persia and pakistan before you can say falafal (sp?)...and then the real fun starts.  Cue the Cossaks and Send In The Clowns.

plata pura's picture

that would be empire running by the common and middling; however, the gentry be reading rhubarbs in poland; as germany starts to bump uglies with russia for their cheap labor and natural resources; these states united must wedge with poland........

janus's picture

it seems we're looking at the world through the same lens...i agree with everything you said, and a lot more besides.  I will tell you this much, if GDR/RUS and (really anybody) China form a coalition with a common currency, you can bet janus will load up early -- despite my insistence on PMs.

These Germans give me nights sweats and the russians give me palpatations; and then i think, why even pretend it's not all going down that way? that's the inevitable conclusion if there's going to be a polar power shift in the traditional iterations of geopolitical evolution (and the shift is already shifting) -- my hopes are for a semi-stateless society...but just look at what happens with 'hope'. 

Xibalba's picture

moving 'wealth' around, bitches. 

Divided States of America's picture

Exactly, its just a legal way for these crooks to funnel cash from the taxpayer to these filthy rich bastards. Look at all these financial institutions...Yeah, looks like the tables have turned...Freddie can bailout the treasury now.

Divided States of America's picture

Exactly, its just a legal way for these crooks to funnel cash from the taxpayer to these filthy rich bastards. Look at all these financial institutions...Yeah, looks like the tables have turned...Freddie can bailout the treasury now.

Divided States of America's picture

Exactly, its just a legal way for these crooks to funnel cash from the taxpayer to these filthy rich bastards. Look at all these financial institutions...Yeah, looks like the tables have turned...Freddie can bailout the treasury now.

trav7777's picture

so yeah, um BAC is up there too and do you trust THEIR balance sheet?  I wouldn't trust a chinese one further than I could throw the BAC HQ

Rick64's picture

Rampant accounting gimmicks and fraud. Business as usual.

Shineola's picture

Holders of all this fiat will be unloading it soon.   Default or Hyper-inflation are the only two possible outcomes.

Let that sink in and shop accordingly.


espirit's picture

Shared Sacrifice. That term will be the pre-emptive strike.

Seasmoke's picture

Beavis Geithner is going to need more than Turbo Tax to help him now

SilverDoctors's picture

more cash than the treasury, yes.  the ability to print and have the federal reserve buy their bonds, no.

whaletail's picture

Doesn't matter if they're the same thing. Maiden Lane, anyone? 

janus's picture

that second list looks like a copy of almost every single old-money portfolio I've had the pleasure to scan...and, yes, BOA is eerie.

hedgeless_horseman's picture

THB or a former minion? 816XX?

janus's picture

Mr. Horseman,

I'm flummoxed.  Now, don't get me wrong, i'm a regular wiz with the ciphers, and I've even had a bit of training in the crypto field, but i cannot make hide nor hair of this enigma, "THB or a former minion? 816XX?"  Some of the words look familiar, but the bookends -- THB and 816XX -- are the tar-babies.

janus's picture

i kind of knew what you were driving, never had an official residence in colorado -- love vail and snow mass though, and I have passed through co springs a few times.  Just couldn't put together who THB may be.

SWCroaker's picture

The US Treasury is over 14T in debt.  I'm pretty sure I have more cash than them, if you do running totals...

Agent P's picture

Well, if you want to talk net cash, I'm pretty sure all the banks would fall away in a hurry.  Hell, BofA has about $500B in debt (not to mention over $1T in deposits). 

carbonmutant's picture

AAPL didn't make the list?

and Sun was bought by Oracle...

how old is this thing?

Tyler Durden's picture

You do know that CDS tracks original obligors yes? There is still Merrill vs Bank of America CDS, a decent arb in fact.

carbonmutant's picture

See that's why I hang around here, for the little known facts... thanks.

Dr. Engali's picture

If you don't have PMs you better have them soon.

The Axe's picture

Love that Portugal banks all passsed the stress test.....fucking riot

The Axe's picture

Love that Portugal banks all passsed the stress test.....fucking riot

RagnarDanneskjold's picture

Most of those banks are insolvent, except for the Japanese ones that have stacks and stacks of depositers' yen in the vault. The Indian company is probably the only one that could actually aid the Treasury.

carbonmutant's picture

Banco Pastor is Passe..

317M euro shortfall...

Hook Line and Sphincter's picture

Nationalize these companies!

Tasty balance sheets ripe for .gov raping, Chavez style.

We can perpetuate the ponzi longer and give all of us additional ample time to buy PM's.

Does anyone here really want the system to crash just yet?   ; )

/sarc off

(yeah, I know, the trick would be on the government when they find that the off balance sheet liabilities came to light.)

mark mchugh's picture

Can anyone explain to me how GE reduced its debt by $83B AND raised $66B in additional cash in less than three years?


Bueller?.....Bueller?.....Repo 105?....



LawsofPhysics's picture

You are kidding right?  GE was one of the first to see 2008 coming and use it's lobbying influence and political clout to score war contract (from all side) and receive a bailout (via tax loopholes and numerous other mechanisms).  Being first ahead of the herd is always a good thing after all.

mark mchugh's picture

I am aware of all those things, but it still doesn't explain a $149B shift in the basic condition of the company.

I'll buy that everything you mention could have improved it by $17B, the rest is crooked accounting.

LawsofPhysics's picture

See the comments below.  Basically GE simply needed to restructure.  Something they thought was too painful and so they took the immoral route hoping the victim forgets the first rapist.  Pretty good plan, no one mentions their "the sky is falling and you must save us" claim, which was bullshit.  As an engineer and scientist I see things a bit differently,  the bottom line remains.  People who create REAL value, should be compensated appropriately.  The financial fucknuts the world over have forgotten their place in a sound economy and they have certainly forgotten the cost of creating capital in a finite universe.  Even if they collect more gold than me, they will still need to eat, and I am in agriculture in a strong like-minded community.  Default is fine with me, bring it.

mark mchugh's picture

I remember're crazy.


(my bad)

LawsofPhysics's picture

Not crazy, just pissed.  We deal with many Pharmacia products (now GE Healthcare).  Their customer service and product line was 100x better before GE took them over (a hostile takeover with taxpayer monies by the way).  Government and financial kleptocracy are now one in the same.  The financial sector owns the government, period.  Again, default, bring it.

eureka's picture

Fuck GE, tax-evading scum. Owes IRS/US $100s BILLIONS.

Bananamerican's picture

"I am in agriculture in a strong like-minded community"


Hook Line and Sphincter's picture

Mark, I can explain this in a way that will clear it up for you.

  • Trans-extinct currency exemptions for national security purposes allow for select companies like GE to mark their assets to any historical market value by choosing any value from a very strict historical boundary between 1811-2210 AD.
  • Future projections for asset values can be considered accurate as long as they are verified by accredited soothsayers.
  • Liabilities denominated in FRN's when converted according to GAFAP (generally accepted fiat accounting principles) have a 30 year future heuristic modification that allows them to be considered an asset, as one day, in the future, will be responsible for growth of said company.
  • GAFAP Cash flow is has a exponential component that allows for proper translation. Potential cash raised, as long as it is to be invested in PM's (see form G.878.3a) is considered at realistic post fiat collapse values and denominated in either Ameros, Blue Dollars, or Alien Dinars.

mark mchugh's picture


I'll buy that, Hook line and sinker!

Hook Line and Sphincter's picture

That would be Hook, Line, and Sphincter... my family surname never 'rectifies' on the thread properly.