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More on The Federal Reserve's St. Patrick's Day Massacre (The Bear Stearns Takeover)
RedState ^
| Mar. 29, 2008 7:16am
| blackhedd
Posted on 03/29/2008 1:26:20 PM PDT by Ernest_at_the_Beach
click here to read article
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To: Petronski
The Fed made a loan. There will be more light on this subject upcoming, but J. P. Morgan does not have to repay that loan if assets are less than that. That is not a loan as the real world knows it.
61
posted on
03/29/2008 4:10:52 PM PDT
by
bjs1779
To: bjs1779
That is not a loan as the real world knows it.Of course it is.
62
posted on
03/29/2008 4:11:29 PM PDT
by
Petronski
(Nice job, Hillary. Now go home and get your shine box.)
To: Petronski
From the article:
The New York Fed has created a new limited-liability company, and they hired BlackRock Financial Management to run it.
The government owns the LLC and the LLC owns the debt.
63
posted on
03/29/2008 4:12:20 PM PDT
by
palmer
To: bjs1779
but J. P. Morgan does not have to repay that loan if assets are less than that.They didn't loan money to JP Morgan.
64
posted on
03/29/2008 4:12:28 PM PDT
by
Toddsterpatriot
(NAFTA opponents are an odd coalition of the no-deodorant Left and the toothless-and-tinfoil right.)
To: Petronski
You mean that you don’t have to repay your loan?
65
posted on
03/29/2008 4:13:19 PM PDT
by
bjs1779
To: Toddsterpatriot
They would take bonds as collateral before, not buy them. And the Treasury prints the money for the Fed to use.
66
posted on
03/29/2008 4:14:09 PM PDT
by
palmer
To: Toddsterpatriot
What are they going to whine about if the Fed makes a big fat profit? They'll post that big graphic showing how the Fed is owned by foreign individuals, most of them dead.
Some of us were saying when this deal was done that the Fed and the government usually make a profit from these so called bail outs.
67
posted on
03/29/2008 4:14:42 PM PDT
by
Moonman62
(The issue of whether cheap labor makes America great should have been settled by the Civil War.)
To: palmer
They would take bonds as collateral before, not buy them.The Fed buys bonds every time they want to boost the money supply.
68
posted on
03/29/2008 4:15:24 PM PDT
by
Toddsterpatriot
(NAFTA opponents are an odd coalition of the no-deodorant Left and the toothless-and-tinfoil right.)
To: Toddsterpatriot; bjs1779
They didn't loan money to JP Morgan. True. BJS, please read the article, the Fed "loaned" money to their own LLC.
69
posted on
03/29/2008 4:15:56 PM PDT
by
palmer
To: palmer
The government owns the LLC . . .I haven't seen anything definitive on that.
70
posted on
03/29/2008 4:15:59 PM PDT
by
Petronski
(Nice job, Hillary. Now go home and get your shine box.)
To: Toddsterpatriot
Not privately owned bonds, that’s what is new.
71
posted on
03/29/2008 4:16:37 PM PDT
by
palmer
To: Toddsterpatriot
The Fed buys bonds every time they want to boost the money supply.Shhhh!
That's a secret (well, to some anyway).
72
posted on
03/29/2008 4:16:56 PM PDT
by
Petronski
(Nice job, Hillary. Now go home and get your shine box.)
To: bjs1779
73
posted on
03/29/2008 4:17:31 PM PDT
by
Petronski
(Nice job, Hillary. Now go home and get your shine box.)
To: palmer
Not privately owned bonds, that’s what is new.When they buy bonds from a Primary Dealer, they're buying privately owned bonds.
74
posted on
03/29/2008 4:18:21 PM PDT
by
Toddsterpatriot
(NAFTA opponents are an odd coalition of the no-deodorant Left and the toothless-and-tinfoil right.)
To: palmer
True. BJS, please read the article, the Fed "loaned" money to their own LLC. Was that the original cover story in the news, or was that created at a later date?
75
posted on
03/29/2008 4:19:04 PM PDT
by
bjs1779
To: Moonman62
They'll post that big graphic showing how the Fed is owned by foreign individuals, most of them dead.Most of them Joooooooos.
76
posted on
03/29/2008 4:19:18 PM PDT
by
Toddsterpatriot
(NAFTA opponents are an odd coalition of the no-deodorant Left and the toothless-and-tinfoil right.)
To: Petronski
The fact that the Fed created this LLC and gave it (sorry, “loaned” it) the 30B to buy debt, means they own the debt. So it really doesn’t matter who is the legal owner of the LLC on paper.
77
posted on
03/29/2008 4:19:49 PM PDT
by
palmer
To: Toddsterpatriot
they're buying privately owned bonds. But of public debt (T-Bills), not private debt.
78
posted on
03/29/2008 4:21:26 PM PDT
by
palmer
To: palmer
So it really doesn’t matter who is the legal owner of the LLC on paper.Really?
Oh my.
79
posted on
03/29/2008 4:28:06 PM PDT
by
Petronski
(Nice job, Hillary. Now go home and get your shine box.)
To: bjs1779
I had not heard about the LLC that the Fed created until today. It might have been in the news, but buried.
80
posted on
03/29/2008 4:28:39 PM PDT
by
palmer
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