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Government Bailouts: A U.S. Tradition Dating to Hamilton
Wall Street Journal ^
| SEPTEMBER 20, 2008
| MICHAEL M. PHILLIPS
Posted on 10/04/2008 4:33:24 PM PDT by Toddsterpatriot
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To: skeeter
Not even relevant. Both enterprises had the implicit guarantee of the Federal government. That means their debt was subject to taxpayer bailout all along.
How do I know? Over a 20 year career in the bond business I probably traded 50 billion of their debt with institutional investors. ALL of those investors were under the impression that they were buying implicit gov't guarantees.
So they were government entities all along.
41
posted on
10/04/2008 6:49:33 PM PDT
by
groanup
(Does all of Wall Street get on the gov't pension plan now?)
To: groanup
Both enterprises had the implicit guarantee of the Federal government. And they're exempt from state and local taxes. I wonder how many private companies get that little benefit?
42
posted on
10/04/2008 6:53:01 PM PDT
by
Toddsterpatriot
(Let me apologize to begin with, let me apologize for what I'm about to say....)
To: Toddsterpatriot
“And they’re exempt from state and local taxes” That’s right. Here’s an interesting statement from Pete Stark which should clear up the question while further showing that the dems thought the GSE’s were just fit as a fiddle:
http://www.house.gov/stark/news/108th/fmfmreformst.htm
43
posted on
10/04/2008 7:14:50 PM PDT
by
groanup
(Does all of Wall Street get on the gov't pension plan now?)
To: groanup
The same could be said about Chrysler. Or Amtrack, or AIG. Etc Etc.
What you're really saying is all the really large concerns are government owned.
44
posted on
10/05/2008 12:38:14 PM PDT
by
skeeter
To: Toddsterpatriot
I wonder how many private companies get that little benefit?Several tens of thousands of companies falling in the 501(c) catagory.
45
posted on
10/05/2008 12:44:25 PM PDT
by
skeeter
To: skeeter
What you're really saying is all the really large concerns are government owned. No, that's what you're saying. And it's 100% wrong.
46
posted on
10/05/2008 2:15:13 PM PDT
by
groanup
(Does all of Wall Street get on the gov't pension plan now?)
To: skeeter; Toddsterpatriot
Several tens of thousands of companies falling in the 501(c) catagory Those entities also get a Federal tax exemption. Private companies don't.
Are you just being obstinate or do you not know the difference?
47
posted on
10/05/2008 2:17:05 PM PDT
by
groanup
(Does all of Wall Street get on the gov't pension plan now?)
To: groanup
Just admit being wrong.
Without being a pr*ck about it, for once.
48
posted on
10/05/2008 3:10:48 PM PDT
by
skeeter
To: skeeter
Just admit being wrong. No. Because I'm right and you're wrong.
Without being a pr*ck about it, for once.
If you want to start throwing out words like that you should at least know what you're talking about. It's obvious you don't.
49
posted on
10/05/2008 5:19:22 PM PDT
by
groanup
(Does all of Wall Street get on the gov't pension plan now?)
To: Toddsterpatriot
In other times the presence of some large grey ships would have ended the career of this crack pot.
Seems to expensive nowadays...
How’s your BOA stocks ? Are you still holding ?
50
posted on
10/13/2008 3:13:03 AM PDT
by
Rummenigge
(there are people willing to blow out the light because it casts a shadow)
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