[Marxism] Bank bailout list

Shawn Redden wsredden at gmail.com
Thu Nov 26 09:10:25 MST 2009


On Thu, Nov 26, 2009 at 10:38 AM, S. Artesian <sartesian at earthlink.net>wrote:

>
> For example the 1 trillion for the PPIP is the theoretical maximum possible
> commitment of the program, provided banks offer up most of  their MBS, ABS,
> etc. etc. for sale.  Actual amount of transactions so far?  I think it's
> around $40 billion, as banks, helped by a change in accounting rules, are
> carrying this junk on their books at face value, or cost, and are loathe to
> take the proverbial haircut in putting this paper into any market.


Thanks for the clarification on this article.  Do you think that Bloomberg's
numbers are meant to stir the pot with their lawsuit demanding the Fed
release their actual figures?

The paragraph is the essence of the mark-to-market vs. mark-to-model fight
that the banks 'won' last year, right?

Solidarity,
Shawn



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