Comments on: We Are All Banks Now

By: iremember54

iremember54 — Sat, 27 Dec 2008 03:57:12 +0000

Gee! aren’t the banks the biggest share of our problems, making more of them, bailing them out, and letting them run the show shure sounds a little strange. The joke that we are stock holders in some and that will someday make us a buck is funny. If people can’t get auto loans now, making GM give less sounds like it will make things better. If we wonder why we have so many problems just look at what we do in this country.

By: davidaquarius

davidaquarius — Fri, 26 Dec 2008 02:42:24 +0000

I am the First National Bank of the Sacred Kitchen Utensil.

My assets are frozen. (a pkg of peas, half a box of fish sticks and something brown from last March) I need an infusion of $53,563,468.12 but will forgo the $8.12 as a gesture of frugality.

I will use these funds to make batches of chocolate chip cookies to worthy accolades of kitchen utensils.

By: jo6pac

jo6pac — Fri, 26 Dec 2008 02:22:35 +0000

Demos will roll over again and give the rest of $ and let go of were did it all go.
GM workers are toast, only the who didn’t deserve the money will get repaid something.
jo6pac
The race to the bottom continues.

By: CTuttle

CTuttle — Fri, 26 Dec 2008 02:17:53 +0000

Ironically, It should be interesting to see Paulson answering DiFi’s and Snowe’s cries for transparency on where the TARP funds are going… Pass the popcorn…!

By: Teddy Partridge

Teddy Partridge — Fri, 26 Dec 2008 02:06:18 +0000

Won’t Cerberus simply create new “entities” to spin off their ownership of GMAC? I mean, there’s an infinite number of “entities” possible as long as Lord Paulson is King, right?

By: bmaz

bmaz — Fri, 26 Dec 2008 02:02:35 +0000

I don’t think they are walking away as much as divesting. Masaccio seems to think it will be parcelled out to Cerberus’ investors. So be it, but that gets Cerberus out of direct voting control. That is a good thing. It isn’t all going to be gravy for us. The most important thing is to make sure the industry survives – Ford, GM and, well, I don’t think Chrysler as we know it is too long for existence, but I sure hope I am wrong.

By: RevBev

RevBev — Fri, 26 Dec 2008 01:54:28 +0000

O gag the Sooners ….;) I was about to say something about the Christmas Grinch for giving us a picture of the aging Mr Quayle…what a night at the Lake.

By: bigbrother

bigbrother — Fri, 26 Dec 2008 01:52:57 +0000

Who is going to buy muni bonds…how will states operate…the whole system is rotten…wall street won’t say it but we are into a depression as governments lay off and renegotiate retirement fund for fire and polce unions. Who’s going to buy those cars from Detroit?

By: Rayne

Rayne — Fri, 26 Dec 2008 01:50:55 +0000

More than one way to skin a cat, bmaz. Something smells here, not certain exactly what it is, but I’ll bet there’s no way Cerberus will walk away altogether if it can make a buck on this deal.

By: bigbrother

bigbrother — Fri, 26 Dec 2008 01:48:36 +0000

OT but really big financial news on the municipal bond market:
State, county and municipalities are struggling to make budgets 2007 and 2010 the cost of bonds are going up and ratings down. Layoffs and thousands of public work projects are in the tank on hold.
Moorlach Sees Up to 10 Municipal Bankruptcies in Coming Year
Californis $42 Billion in the hole despite $50 Billion in bonds issued rating was lowered by Moody and S&P