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I thought it was called the Supervisory Capital Asset Memo, or SCAM.
Also, it's helpful that the gubbmint explained in the memo that the minus sign indicates a negative value. I was confused for a second there.
Or how about the Capital Reserve Adequacy Program?
Your brilliance is brutally honest, appreciated, necessary, and I thank you for the stress test reminder.
If another round of stress tests do come around (yeah, i know, snowball in hell and all that), they will make "All in the Family" look like a drama.
Please, please, please....bring on the stress tests again.
I'm wondering if this was all out of the play book. Now they can come to congress with yet another round of bail outs. I realize that isn't a popular move, but perhaps this will be used to leverage that?
dh, for you...
Risk can not be created or destroyed. Only transfered.
Is it possible that they will use this as an excuse for yet anther bail out? Perhaps it was designed in such a way
Yes, they invested in a political capital insurance policy. If they needed another stimulus, engineer expectations so that one comes when it's perceived to be necessary. Heros all around. This is good politics, too bad it's bad math.
As of 946am, with the stock indices all in green, once again apparently nothing matters and we have to prepare for a lot of geniuses explaining today that the market is climbing a wall of worry and blah, blah, blah.
This is about as crazy as someone who believes everything is crazy could ever have imagined.
Our present government is nothing short of an incompetent bullshit factory...incompetent because the quality of their bullshit is so poor and yet they arrogantly persist in spewing it in a fashion that shows they believe the public is flatout stupid and will believe any drivel they choose to spew out...average people in the street know this now and routinely say so...in the initimable words of Richard Pryor: "how long, how long, how long can this bullshit go on?"
market is up today on 10.2 % unemployment... green shoots
Unemployment is a lagging indicator, and worthless.
It's also worth noting the household survey of unemployment reported 558,000 jobs lost last month. 190,000 jobs lost doesn't jibe with 500,000 weekly intial claims.
We need an Oblame-assessment-program that measures adverse, more adverse. One that weighs the negative factors Bernanke, Geithner, Pelosi, Frank...oh throw in the Biden variable for kicks.
November 2000 was the start of the long decline
But that was before the monopoly of GS took over the market
Gubmint is too busy trying to blow a trillion borrowed bucks on the HealthScare scam to be involved in Stress Test II.
Besides, no depositor has ever lost a dime in the history of the formerly solvent FDIC.
Reminder : There is no plan, no backup plan and no backup plan for the backup plan. There is only trust in the short term attention span of the sheeple.
Chunky and Rainman...I know you think you are somehow being witty or folksy in writing "gubmint" instead of "government" However, I think most on this site would agree it makes your sound more like idiots. If you are too lazy to write government, just abbreviate to gov't...thank you for your attention
LONDON (MarketWatch) -- At its high point, the federal government was guaranteeing or insuring $4.3 trillion in face value of financial assets, according to a report released Friday by the Congressional Oversight Panel. "The Panel found that Treasury took an aggressive stance in protecting taxpayer interests, and the Panel did not identify any major flaws with their implementation of the guarantee programs. Even so, these programs carried significant risk. In many cases, the American taxpayer stood behind guarantees of high-risk assets held by potentially insolvent institutions," the report said.
and a comment to that article was....
"Assuming about 300 million Americans, this means the government insured a little more than $14 billion per person."
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