Geithner Plan = Mother of all Frauds
Sometimes it is really unbelievable, what is happening in today’s world.
And sometimes it beats everything.
First … I thought, my English was not good enough … then … I thought, my math was not advanced enough …
But … as now some intelligent people found out EXACTLY the same, we have to put a name to it … FRAUD … PLANNED and GOVERNMENT GUARANTEED!!!
Now it becomes clear, why markets jumped and … seem to jump further. If the plan passes Congress, stupidity will celebrate new all-time-highs and the MOTHER OF ALL FRAUDS will go into the history books.
The Geithner Plan (PPIP) … in short words … makes it possible … by first doubling the money of the investor and then leveraging this by up to 6-to-1, that banks, if they buy the toxic assets themselves … REDUCE the losses to take on themselves to around 10% … WOW …
So … in other words … banks will have the chance to show big profits as most of them already have written off more than 10% 
Remember … Merill Lynch sold its toxic assets for a price of 22% only …
The bill at the end will be presented to the American Taxpayer and … through the IMHO following currency reform to all people holding US $ BONDS.
Again … FRAUD … and again … UNBELIEVABLE …
Tags: Banks, financials, fraud, Geithner, manipulation, Merill Lynch, PPIP, stupidity
März 30th, 2009 at 00:37
the question is:
will it be enough?
März 30th, 2009 at 02:04
The bulls are running out of buyers and are due to take a break. Although you’ve determined the break may not last long, where will you begin to fade, Oli?
März 30th, 2009 at 05:45
Will it be enough? It already is too much
Seriously: This could propel us far higher than thought as it is HUGE. The break down will come later. The bill must be paid anyway.
When will I fade? To be honest, I do it every day … even earn money with it. Problem: If this plan goes through, it will move far higher.
So … intraday trading is king. Whether one likes it or not.
März 30th, 2009 at 17:17
Thx for picking this up, Oli. The plan is a scam of historic proportions. Get the truth out…
More on BAC and C frontrunning Geithner’s plan:
http://www.businessinsider.com/it-looks-like-citi-and-bank-of-america-are-already-gaming-the-system-2009-3
and the original NY Post article:
http://www.nypost.com/seven/03252009/business/double_dippers_161157.htm
März 30th, 2009 at 17:20
Thx for picking up on this, Oli.
The plan is a scam of historic proportions. Get the truth out!
More on BAC and C frontrunning Geithner’s plan:
http://www.businessinsider.com/it-looks-like-citi-and-bank-of-america-are-already-gaming-the-system-2009-3
and the original NY Post article:
http://www.nypost.com/seven/03252009/business/double_dippers_161157.htm
März 30th, 2009 at 19:48
Intraday will have to do!
This is from Karl Denninger…Here’s the formula for your impending doom, if you forgot:
1. The S&P 500 goes to 300 as the “bailouts” and “handouts” collapse the economy.
2. The PGGC’s equity investments are worth 20 cents on the dollar, the private equity and REITs are zeros. This puts the fund 40% underwater across-the-board.
3. It is unable to pay and goes to Congress.
4. Congress can’t fund additional borrowing because the bond market has dislocated.
5. You get 10 cents on the dollar for your supposedly ‘guaranteed’ pension.
März 31st, 2009 at 12:55
The question is:
where G will find the money?
look at:
http://www.bloomberg.com/apps/news?pid=20601068&sid=armOzfkwtCA4&refer=economy
title:
Financial Rescue Approaches GDP as U.S. Pledges $12.8 Trillion
regards
April 3rd, 2009 at 00:10
keep that printin press running