Posted on 04/25/2010 8:30:02 PM PDT by neverdem
Schumer crashed Indy Mac bank by spreading a rumor. The company failed.
bout 9 months later John Paulson, Soros, Micheal Dell and JD Flowers together bought the wreckage or Indy Mac.
What did they get?
A mtg bank recapitalized by Uncle Sam.
Billions in tax loss carry fowards into the future.
The Democrat party is a wholly owned subsidiary of Goldman Sachs. Some GOP state AG should indict GS or at least file a civil suit.
Hmmmmmmm...
Soros, Flowers and Paulson are hedge fund operators who made money by:
1. Shorting Indy Mac as Schumer wiped the company out by rumor. They could have made billions.
2. Buy it on the cheap with Feds recapitalizing it and very little down.
3. Tax loss carry forwards in the billions which are essentially tax credits.
http://www.freerepublic.com/focus/f-news/2209775/posts
WASHINGTON — The Federal Deposit Insurance Corp. reached a preliminary agreement to sell the remains of IndyMac Bank — one of the biggest bank failures in U.S. history — to a team of high-profile investors, suggesting there is private money willing to invest in troubled banks if the government agrees to shoulder heavy losses.
Bloomberg News/Landov Christopher Flowers The investment team, which includes affiliates of private-equity chieftain Christopher Flowers, hedge-fund investors George Soros and John Paulson, and computer mogul Michael Dell, will contribute $1.3 billion in capital toward a purchase of IndyMac Federal Bank. The investor group and the government also agreed to share losses on IndyMac’s portfolio of troubled mortgages, which will likely reach into the billions of dollars.
(Excerpt) Read more at online.wsj.com ...
I feel dirty just reading this!
Also, if memory serves, Indy Mac was run by conservatives.
I can’t believe there is nobody in NY willing to run against theis vicious, corrupt prick.
Each one of these financial companies were tee’d up by the short hedge funds. Raham and Gorlnick and their buddies at Fannie and Freddie made sure all the crap mortgage risk was in all banks. Caused by CRA lawsuits forcing banks to lend to anyone and everyone.
They all knew the cancer was there and waited until the late summer of 2008 to spring the trap with the hedge funds - Soros, Flowers, John Paulson, Steven Coehen (SAC), David Shaw and others. Hedge funds OWN the senate. Chealsea works at a hedge fund.
Supposedly Larry Kudlow is mulling it over. There’s plenty of time.
When the *#@! are we going to put these crooks in jail where they belong?
And I don’t mean Club Fed, either. Devil’s Island would be too good for them!
Great posts! Chuck Schemer should be in prison.
........that in New York, Both the Gillibrand seat AND the Schumer seat are up for re-election?
Hopefully SOMEDODY will run against Chuckie, as well as for the Gillibrand seat.
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Yes he should be.
I'll drink a gleeful toast like I did when the Liberal Lyin' of the Senate, POS-of-all-Pieces-of-Sh*t - ted kennedy kicked it, and display the same, albeit temporarily, sh*t-eating grin this left-wing, un-American jackal displayed often, when he finally goes (one way or another), and God...
HE NEEDS TO GO!!!!!!!!!!!!!!!!!!!
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