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California IOUs can be considered securities, SEC says
Market Watch ^
| 07/09/09
| Ronald D. Orol
Posted on 07/12/2009 3:26:38 AM PDT by TigerLikesRooster
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Some securities are honored by nobody, I guess.
To: TigerLikesRooster; PAR35; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
2
posted on
07/12/2009 3:27:17 AM PDT
by
TigerLikesRooster
(LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
To: TigerLikesRooster
This makes it harder for a person with a $1 million IOU to sell it to you or me for $900,000. Illegal actgually.
This makes the situation worse.
3
posted on
07/12/2009 3:28:59 AM PDT
by
GeronL
( Patriotic Insurrectionist at http://tyrannysentinel.blogspot.com)
To: TigerLikesRooster
Hmmm....
So no California can print “securities” to pay its bills...
In the old days that was called defaulting on your debts...
But the Federal government doesn’t want anyone to notice that California has defaulted on its debt so they put up smoke and mirrors and try to continue the illusion that California is a-okay...
4
posted on
07/12/2009 3:32:02 AM PDT
by
DB
To: TigerLikesRooster
But Mr. Obama can screw millions of General Motors and Chrysler shareholders and bondholders out of billions of dollars? Which way to the looking glass?
5
posted on
07/12/2009 3:32:38 AM PDT
by
2ndDivisionVet
(Democracy is the art and science of running the circus from the monkey cage. ~H.L. Mencken)
To: DB
Well, California IOU is probably a test run for what Fed could do next year: to Chinese. :-) So they let this ‘experiment’ proceed and see how it fares. Won't fare well, IHMO, but they will try anyway.
6
posted on
07/12/2009 3:33:57 AM PDT
by
TigerLikesRooster
(LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
To: TigerLikesRooster
Maybe I could just print up some nifty IOU’s and go on a shopping spree. Or maybe.... I know, hire a new employee for my design company and pay him with IOU’s.
When money becomes worthless, then what are we going to use?
7
posted on
07/12/2009 3:36:14 AM PDT
by
Apple Pan Dowdy
(... as American as Apple Pie)
To: TigerLikesRooster
Calling garbage gold (even by the SEC) does not make it gold. But anything seems preferable to seeing and acting on the truth. CA must cut spending!
8
posted on
07/12/2009 3:41:42 AM PDT
by
Ironsman
To: Apple Pan Dowdy
"When money becomes worthless, then what are we going to use?" "Gold! Just tell them that Gordon Liddy sent you!"
9
posted on
07/12/2009 3:42:47 AM PDT
by
2ndDivisionVet
(Democracy is the art and science of running the circus from the monkey cage. ~H.L. Mencken)
To: TigerLikesRooster
“California IOU’s can be considered securities?”
Bananas, bananas, 39 cents a pound!
IMHO
10
posted on
07/12/2009 3:45:23 AM PDT
by
ripley
To: DB
Or some insider will offer to purchase them for pennies on the dollar knowing the “next” CA gov will more then likely be able to raise taxes to pay them off.
Same ol’ Story in CA, two wolves and lamb looking at a menu..
11
posted on
07/12/2009 3:45:32 AM PDT
by
padre35
(You shall not ignore the laws of God, the Market, the Jungle, and Reciprocity Rm10.10)
To: TigerLikesRooster
“So no” was supposed to be “So now”... Sorry...
12
posted on
07/12/2009 3:45:35 AM PDT
by
DB
To: 2ndDivisionVet
Thats the thing I was seeing: if these ARE securities, CA could declare bankruptcy and make them go away like GM and Chrysler did to even their secured debt holders.
[Where are the lawsuits about that, btw???]
13
posted on
07/12/2009 3:45:47 AM PDT
by
Adder
(Proudly ignoring Zero since 1-20-09!)
To: Apple Pan Dowdy
Next time you go to the bathroom STOP AND THINK! Do you really want to waste thousands of dollars in securities just to have a clean butt? :-)
14
posted on
07/12/2009 3:48:02 AM PDT
by
Kartographer
(".. we mutually pledge to each other our lives, our fortunes, and our sacred honor.")
To: TigerLikesRooster
The supremacy of finance capital over all other forms of capital means the predominance of the rentier and of the financial oligarchy; it means that a small number of financially powerful states stand out among all the rest. The extent to which this process is going on may be judged from the statistics on emissions, i.e., the issue of all kinds of securities. - Vladimir Ilyich Lenin
15
posted on
07/12/2009 3:56:52 AM PDT
by
PGalt
To: TigerLikesRooster
Thanks for posting TLR. Disgusting.
These con-men are putting us in dire straits. We need to bang the drumsticks/clubs on their collectivist heads...(music to read this thread by)...
http://www.youtube.com/watch?v=hDpMqKSrr7Y
16
posted on
07/12/2009 4:04:49 AM PDT
by
PGalt
To: TigerLikesRooster
I guess the next step wtill be Obama mandating that the banks accept the IOUs.
17
posted on
07/12/2009 4:06:26 AM PDT
by
AdaGray
(uw)
To: AdaGray
Not just banks, but everybody.
18
posted on
07/12/2009 4:07:57 AM PDT
by
TigerLikesRooster
(LUV DIC -- L,U,V-shaped recession, Depression, Inflation, Collapse)
To: TigerLikesRooster
There's a difference?
19
posted on
07/12/2009 4:16:52 AM PDT
by
knarf
(I say things that are true ... I have no proof ... but they're true)
To: TigerLikesRooster
20
posted on
07/12/2009 4:21:54 AM PDT
by
Daisyjane69
(Michael Reagan: "Welcome back, Dad, even if you're wearing a dress and bearing children this time)
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