Posted on 03/29/2008 6:48:20 PM PDT by ovrtaxt
“Bear Stearns OWNS 3 billion shares” = “Calpers OWNS 3 billion shares of Bear Stearns.”
hehehe
I'm happy you can finally handle the truth.
It's actually rather Marxist of you to insist that bankers are mere parasites who add no value to the economy.
That's funny! Who said that?
That would be you.
No silly, who mentioned anything on the thread about bankers being parasites? You were the only one.
That would be you.
No, it wouldn't.
Indeed in the same post you said: I wouldn't equate deposits and loans with wealth creation.
Yes I did. That's still not anything about parasites. Sorry.
You said in that sentence that you would not equate what the banks do with wealth creation, did you not?
That's not what I said. When you get pressed you seem to lose some reasoning skills.
You said earlier that banks charge interest.
Was that the first time you ever heard that?
That is the definition of a parasite: an entity that consumes without contributing.
I never said banks don't contribute. Nice try.
I'm happy for you...
I'm just glad I could help you.
BTW Toddster, when someone else is wrong, that doesn’t automatically make you right...
You think we were laughing at THAT? Oh, no. We were laughing at you. After all, your post implied that Calpers owned more Bear Stearns stock than existed in the world. In fact, your post implied that Calpers owned all of Bear Stearns and that the California pension fund was over twice as large as it really is.
As I pointed out, Calpers didn't feel a thing when BSC went poof. It's ownership was less that .2% of the fund. LOL.
Yep.......that's what I said.
And........they did GET STIFFED for (whatever amount) Calpers (and others) invested in Bear Stearns.
Or do you have some "new math" that shows that ~40 a share purchase price is a profit at the revalued ~$2 - ~$10 a share? . . . Unless, of course, they divested themselves PRIOR TO the Bear Stearns collapse. My math shows that this is a loss....and they got stiffed.
Um, no. I posted figures from a Commissions Report that showed that they had invested in Bear Stearns....and had paid them commissions. My post raised the specter that Calpers, and therefore, the retirement accounts of a great many people, just within the California Retirement system, had been negatively effected by the collapse of Bear Stearns. The figures proved that they had, indeed, invested in Bear Stearns. That you wished to later state that I claimed they lost a specific amount is of your own doing and occurred during your own hysterics; and I allowed you to act hysterical....because...it's "all so funny" that so many people lost a great deal of money.
The most important thing, after all, is that the Bear Stearns CEO got over $100 million out between last year and just after the collapse. That is what's most important...oh....that and curiosity as to how much *I* had invested with Bear Stearns....because it's all about "me".
No, but when he's wrong, which is often the case, he deflects onto other things, responds with questions to questions....or just doesn't answer at all.
He is, after all, nothing but a government drone.
The one who is foolish, is you.
I know it was a commissions report. You thought it was a statement of shares owned. That's why you said...
.....unless, of course, CAlPERS divested itself of these shares
Because you thought these shares were shares of Bear Stearns. You were wrong. Again.
The figures proved that they had, indeed, invested in Bear Stearns.
No. The figures on the commissions report proved that they paid commissions to Bear Stearns. Not that they invested in Bear Stearns. Glad I could help.
You're lying. Again.
How many shares did your post claim they owned?
I showed my concern for those who lost monies in their retirement accounts because of that....you certainly didn't, and haven't.
no kidding.
The desperation forced him to attack me by carrying matters from another thread onto this one....a “no no” in FR.
*sigh*
Oh well.....as with Halgr, I applaud your posts on this thread. : )
I didn't state they owned ANY specific dollar amount, any specific number of shares, or the specific price they paid per share, or even when the shares were purchases.
Right, you just posted a report showing 3 billion shares and said, .....unless, of course, CAlPERS divested itself of these shares
It showed a June 2007 commissions report, evidencing that Calpers did, in fact, invest in Bear Stearns...
"Commissions paid" is not the same as "invested in".
I paid some commissions to Charles Schwab. I've never owned a single share of Charles Schwab stock.
You really shouldn't post on these market threads. It's obvious to everyone that you haven't a clue what you're talking about.
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