Banks May Pool Billions to Stop Securities Sell-off

If you read through it, Goldman is always there. The firm has too much power and influence. This is nothing more than a bailout, and is a disgrace to the system. If this takes place, I hope for masses to walk on their notes after the resets. 75 billion won't make a dent.

Bottom line is the risk takers need to take it in the ass this time.
 
"The effort to create a backup fund began about three weeks ago, when the Treasury secretary, Henry M. Paulson, called a meeting in Washington that included the chief executives of Citigroup, Bank of America, JPMorgan and other big banks. With Wall Street firms having almost no luck finding buyers for mortgage-backed securities and derivatives, Mr. Paulson wanted to see what could be done to relieve the bottleneck."

this is equal to the crew of the Titanic telling the Captain not to worry about wet carpets
 
How long is it good for?

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Quote from daddyeaux:

"The effort to create a backup fund began about three weeks ago, when the Treasury secretary, Henry M. Paulson, called a meeting in Washington that included the chief executives of Citigroup, Bank of America, JPMorgan and other big banks. With Wall Street firms having almost no luck finding buyers for mortgage-backed securities and derivatives, Mr. Paulson wanted to see what could be done to relieve the bottleneck."

this is equal to the crew of the Titanic telling the Captain not to worry about wet carpets
More...

Does anyone recall what Paulson was saying publically at the time?
 
there are always buyers..

the buyers don't want the RISK!

Quote from daddyeaux:

"The effort to create a backup fund began about three weeks ago, when the Treasury secretary, Henry M. Paulson, called a meeting in Washington that included the chief executives of Citigroup, Bank of America, JPMorgan and other big banks. With Wall Street firms having almost no luck finding buyers for mortgage-backed securities and derivatives, Mr. Paulson wanted to see what could be done to relieve the bottleneck."

this is equal to the crew of the Titanic telling the Captain not to worry about wet carpets
More...
 
a meeting with major banks

sounds and feels like 'market collusion'

no buyers at face value or asking price.




Quote from daddyeaux:

"The effort to create a backup fund began about three weeks ago, when the Treasury secretary, Henry M. Paulson, called a meeting in Washington that included the chief executives of Citigroup, Bank of America, JPMorgan and other big banks. With Wall Street firms having almost no luck finding buyers for mortgage-backed securities and derivatives, Mr. Paulson wanted to see what could be done to relieve the bottleneck."

this is equal to the crew of the Titanic telling the Captain not to worry about wet carpets
More...
 
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