why that was nice

[canemaster 10+ year member]

Ima stop paying taxes...

fvck this

 

[Flipx99 5,000+ posts]

This is why I don't care if no one including the govt doesn't really understand finance. I don't care that you say they can't really account for every dollar or explain where it really went. They should have never thrown money at it. It is obvious that the shenanigans that have went on since the money was handed out is clearly not in the spirit of the bailout, nor can they rationally be explained by these greedy fucks. They should have left them stranded.
This shit pisses me off more than hearing about yet another hedge fund manager fabricating earnings, then disappearing.

You should have read about the bajillion bucks spent on renovations at Merrill Lynch...a $35k toilet or such.

When I said that, I was optimistic they where going to do the right thing. I was wrong. I think what happened is that the executives felt they where going to be ousted soon, so they said fuck it all, I'll do what I want versus having a long term plan.

 

[Flipx99 5,000+ posts]

Lastly, Hedge Fund Managaers don't fabricate earnings, as they have none. Unless it's private equity, which is not a hedge fund.

 

[Flipx99 5,000+ posts]

What is funny is not that they bought a jet. But why the American people are too ****en stupid to realize why the jet is a better business decision than making a loan from a business perspective.

 

[sue bee 10+ year member]

This is outdated. They announced they're not going to be buying the jet after Obama told them they will get pimp slapped.

 

[sue bee 10+ year member]

http://abcnews.go.com/Business/Politics/story?id=6740011&page=1

 

[Bender. 10+ year member]

This is outdated. They announced they're not going to be buying the jet after Obama told them they will get pimp slapped.

but apparently their plans for the plane were Obama-nated, not thier own:


Sounds like Obama is already meddling in private industry..

too bad.

http://abcnews.go.com/Business/Politics/story?id=6740011&page=1

you got beat

 

[IamDeMan 5,000+ posts]

Lastly, Hedge Fund Managaers don't fabricate earnings, as they have none. Unless it's private equity, which is not a hedge fund.

Well I was talking about the newest one here in FL. Nadel is his name. My apologies though. He was a hedge fund adviser.

Nadel, 76, surrendered to the Federal Bureau of Investigation today in Tampa, Florida, said Monica McLean, an agency spokeswoman. U.S. regulators last week accused Nadel, who lives in Sarasota, Florida, of defrauding clients while overstating six funds’ investments by $300 million.

http://www.bloomberg.com/apps/news?pid=20601103&sid=a4U_4BqyB55Q&refer=news

 

[IamDeMan 5,000+ posts]

This shit is out of control. Why does it seem to be with people associated with hedge funds? Wright, Madoff, now Nadel. Why have they allowed that shit to fly under the radar for so long?

Just sickening.

 

[WillyG4444 10+ year member]

I laugh at people blaming this on Obama, when Bush gave bailout money to I forget which company/companies, but they used a ton of it to stay in this top class resort with spa days and all this extra garbage. I'm sure there are more instances of this. Bush issued bailout money, now Obama does, they both did it. It's a messed up situation if the facts are true and there are no limits on how the company needs to spend their money, but that's the government's stupid fault, you can't blame that directly on the president, Bush OR Obama.

Oh, just read the other posts. I guess teh OP was pwned already //content.invisioncic.com/y282845/emoticons/rolleyes.gif.c1fef805e9d1464d377451cd5bc18bfb.gif... Oh the assumptions about Obama never stop. I swear people actually look for things to try to make him look bad. I guess there will always be shit talk about presidents. Let it beee

 

[IamDeMan 5,000+ posts]

You should have read about the bajillion bucks spent on renovations at Merrill Lynch...a $35k toilet or such.
When I said that, I was optimistic they where going to do the right thing. I was wrong. I think what happened is that the executives felt they where going to be ousted soon, so they said fuck it all, I'll do what I want versus having a long term plan.

Oh and I did read on the Merryl Lynch shit. These stories make me not want to trust people like you

 

[Flipx99 5,000+ posts]

Well I was talking about the newest one here in FL. Nadel is his name. My apologies though. He was a hedge fund adviser.


http://www.bloomberg.com/apps/news?pid=20601103&sid=a4U_4BqyB55Q&refer=news

That's more understandable.

 

[Flipx99 5,000+ posts]

This shit is out of control. Why does it seem to be with people associated with hedge funds? Wright, Madoff, now Nadel. Why have they allowed that shit to fly under the radar for so long?
Just sickening.

Reserach a guy named Nick Leason with Barrings...he is the "case study" in this thing. It flies under the radar because of fraud. If you can pay off the accountants and others, they lie. It happens at Lowe's too...except it's a cashier stealing $100 and paying the cash office person $10 in hush money....hedge funds just add more zeros.

Oh and I did read on the Merryl Lynch shit. These stories make me not want to trust people like you

When your class goes over the capital structure of banks and reserve requirements, it will make more sense. It's still twisted. But sitting on the cash is better than loaning the money.

 

[IamDeMan 5,000+ posts]

But sitting on the cash is better than loaning the money.

If this is your core statement then it makes it true that the govt should have sat on it from the beginning.
Well at least that is how I am ultimately understanding it with what little I know.

 

[Flipx99 5,000+ posts]

If this is your core statement then it makes it true that the govt should have sat on it from the beginning.
Well at least that is how I am ultimately understanding it with what little I know.

No. The government should have bought the risky assets. There was a very real fear for a couple weeks that employees may or may not get paid if the banks default. I'd hate to see Mike the Plumber lose his house because his bank went under and the FDIC and Federal Reserve didn't get him his cash fast enough. The fear, from my perspective, was that you have no money...you can't use your debit card, can't use your credit card, can't get your money out of the bank, etc.

In retrospect, a better bailout would have been to ease my fears with promise such as: if your bank fails, all your obligations are delayed until you get the money. Meaning a bank can't try and foreclose and loans don't go against you for being late because your employer cannot pay you because his bank failed. I hope I explained that well.