[lbo-talk] CBO on TARP

c b cb31450 at gmail.com
Thu Mar 31 06:11:25 PDT 2011



>>> if you read it as "the cost of the bailout is $12T" you're way off.
>>
>> Over $14 trillion, if you want to pump it up:
>>
>> http://nomiprins.squarespace.com/storage/bailouttallyoct2010.pdf
>>
>> To do that, you include guarantees.
>
> Which, um, "cost" exactly how much?

Hey, don't blame me! I don't buy it. I'm just pointing to a place where numbers like that come from.

^^^^^

CB: In the normal course of business, do big banks treat guarantees as if they are somewhere on the spectrem of money, cash to debentures to hedge fund "certificates" ? Guarantees from the the US Federal government sound good as gold. What is the legal status of a guarantee in financial transactions outside of crisis of "too big to fail " ?

"But, if constructing the future and settling everything for all times are not our affair, it is all the more clear what we have to accomplish at present: I am referring to ruthless criticism of all that exists, ruthless both in the sense of not being afraid of the results it arrives at and in the sense of being just as little afraid of conflict with the powers that be."

http://montages.blogspot.com/2007/09/ruthless-criticism-of-all-that-exists.html

http://www.marxists.org/archive/marx/works/1843/letters/43_09.htm



More information about the lbo-talk mailing list