U.S. Bank Bailout to Rely in Part on Private Money.

[elleng]

Source: NYT

"Wall Street helped produce the global financial and economic crisis. Now, as the Obama administration prepares to unveil a revised bailout plan for the banking system, policy makers hope Wall Street can be part of the solution.

Administration officials said the plan, to be announced Tuesday, was likely to depend in part on the willingness of private investors other than banks — like hedge funds, private equity funds and perhaps even insurance companies — to buy the contaminating assets that wiped out the capital of many banks.

The officials say they are counting on the profit motive to create a market for those assets. The government would guarantee a floor value, officials say, as a way to overcome investors’ reluctance to buy them."


Read more: http://www.nytimes.com/2009/02/09/business/09bailout.html?th&emc=th

[HillbillyBob]

1. Im hearing laughter..hysterical ghostly

derisive laughing insanely in the night.

[Demeter]

2. That Was Me

Sorry to disturb you.

[awoke_in_2003]

5. Please don't do it again...

I didn't get any sleep last night :hi:

[Robbien]

3. What a complete flight of fancy.

The only way the vultures of private venture/hedges will take over the worthless pieces of paper is if the American taxpayer underwrites any and all losses.

[bemildred]

4. What shameless horsepoop. nt

[Baby Snooks]

6. Just amazing...

I have given up on Obama & Company. They are either fools or believe all of us are.

And of course Wall Street is "capitalizing" itself with junk bonds again. And no doubt some of the wealthier investors who lost most of it with Bernie Madoff will lost what's left in the junk bonds. You can teach 'em but you can't learn 'em. Of course half of them didn't really lose everything they say they did since many of them were laundering their money through Bernie Madoff. But of course will claim it anyway.

For anyone who bought 1,000 shares of Wells Fargo last month, you just made around $17,000. There are great fortunes being made again. While we "bail out" everyone they are making the great fortunes with.

It's all a scam. Almost 10 trillion dollars later, the banks are fine and Wall Street is fine. Everyone else is not fine. Everyone else does not matter. To the banks, to Wall Street or to Obama & Company.

Our economy has collapsed. Their economy did not.

[Solly Mack]

7. I need aspirin

[antigop]

8. Oh, goody, we can look forward to the Carlyle Group owning banks, can't we? n/t