Posted on 06/16/2010 6:06:52 AM PDT by SonOfDarkSkies
Edited on 06/16/2010 6:08:26 AM PDT by Admin Moderator. [history]
Could someone translate this for the financially impaired?
(I’m assuming that the NYSE won’t trade their stock because its value is too low. Is that what this means?)
You’re assumption is correct!
Penny Stocks.................
All your mortgage are belong to the Obamulans
Correct......this BS that it was “planned” is just that: BS. They were probably going to be kicked out, so to save the regime some embarrassment, they got out in front of it and said it was “a plan.”..............
It’s the financial equivalent (well, sort of) of a farmer being dropped as a supplier of tomatoes to the A & P and being forced to sell his produce at the local farmer’s market.
Thank you.
Never studied finance at school and wanted to be sure I understood this situation.
[former US Treasury secretary Hank] Paulson claims Russia tried to foment Fannie-Freddie crisis
Financial Times ^ | Published: January 29 2010 21:06 | By Krishna Guha in Washington
Russia proposed to China that the two nations should sell Fannie Mae and Freddie Mac bonds in 2008 to force the US government to bail out the giant mortgage-finance companies, former US Treasury secretary Hank Paulson has claimed.
The allegation is in his memoir On the Brink in which he also suggests that Alistair Darling, the UK chancellor, blocked a rescue takeover of Lehman Brothers by Barclays Bank when he refused to support special treatment by UK regulators.
“Russian officials had made a top-level approach to the Chinese, suggesting that together they might sell big chunks of their GSE holdings to force the US to use its emergency authorities to prop up these companies,” he said.
Fannie and Freddie are known as GSEs or government sponsored enterprises.
“The Chinese had declined to go along with the disruptive scheme, but the report was deeply troubling,” he said. A senior Russian official told the Financial Times that he could not comment on the allegation.
Separately, Mr Paulson makes it clear that he believes that Mr Darling prevented a takeover of Lehman by Barclays out of fear that it would endanger the UK bank.
Mr Paulson said that Mr Darling telephoned him on Friday September 12 – as the US authorities were scrambling to find a buyer for Lehman – to express concern about a possible Barclays deal. Mr Paulson said that he did not realise at the time that this was a “clear warning”.
(Excerpt) Read more at ft.com ...
http://www.freerepublic.com/focus/f-news/2526486/posts?page=45#45
Her law firm buddy, his job, and her being on the board with a firm working on Carbon Sequestering is such a co-wink-a-dink...
Fannie Mae, Social Security, the National Firearms Act, the seizure of people's gold by the fiat of executive order, threats of packing the Supreme Court: FDR's contempt for the Constitution was manifest, and he was all too successful at breaking the foundations of this country.
Reading through some of his executive orders, one can see that the outright contempt for our system was overwhelming.
Great post.
good post, thanks for those links.
So far, THE DEMOCRAT CONGRESS HAS WASTED YOUR HARD EARNED MONEY TO THE TUNE OF $145 billion into Fannie and Freddie to keep them afloat and to buoy the overall housing market.
thanks ... bookmark
Yes. If you get a chance, stop in. It is one of the most beautiful and depressing sites I’ve ever seen.
It’s very quiet. It’s on a farm, and the owners will be happy to see you. At the base of the highest mill is a small garden and plaque. My story :
The Pennapike can have some of the densest fog you’ve ever seen. I was travelling to my uncle’s place at about 5:30 am, and the sun was coming up. The fog was now illuminated against the bronze sun. Coming down the hillside to the Somerset exit, the sun was high enough to make the fog a dreary silver. From there I saw my first windmill.
It scared the sh*t out of me. It’s a medium sized one, apparently, but it was the largest animated object I had ever seen in my life. I swerved. This thing is like a Ray Bradbury vision . When I got off the exit, I followed the horizon. I HAD to see it up close.
When I got to the site, It was still under fog. I couldn’t see the top of the mill, nor the blades. I got out of my car and walked up through the eery silence to the gardens. I could only hear the blade swooping down as I walked (Woop....Woop... Wooop..) but I could see nothing. As I walked through the garden I stepped over beer bottles, trash, wood and other detritus that suggested a nightly teenage hang-out. The plaque there was graffiti vandalized, but it read of it’s brief history, and the history of those involved.
Apparently the site was to be opened on September 12th, 2001. It was to be the toast of the town, with local government and celebs on hand to christen the new turbine. The events of 9/11 unfolded, and the people mentioned above were on those flights. The party was cancelled, and the power switch was just turned on. No regalia.
The park was developed, but the entire site was basically scrapped and abandoned. The fog cleared slowly, and I got to see the enormous blades spinning away above my head.
It was stunning. I still remember the whole morning as if it just happened. I went to Meyersdale to check out the other windfarm, which is also a fantastic journey of driving and walking. The landbridge that connects the site to the road (The old Rails to Trails trail that crosses the highway) the windmills slowly peak out over the horizon. Again, a fulfilling afternoon.
This is hilarious! Anthony Sanders at George Mason University and Mercatus Center was on Bloomberg TV commenting on Fannie and Freddie losses. He then took a swat at Obama likening Fannie and Freddie and the BP oil leak with Obama’s reaction to both leaks - nothing.
Hope he wears a Kevlar vest!
http://www.youtube.com/watch?v=A8If6fklwMs
The point is, if they go under, America doesn't have the money to back them, in fact, there isn't that much money in the whole world to back them. America is still on the precipice of failure, no matter what anyone tells you. Just because the stock market opens every day and people trade, doesn't mean there is any money. We are broke. Pick your poison, Fanny and Freddie are just one aspect of the trouble the US is in. We are kicking the can down the road hoping that things will get better before the music stops and we have no chair. The president and the congress have NO CLUE how to grow a capitalist economy, so we are in deep pooh pooh until a real American capitalist gets in. Personally, I don't think we'll make it, but one can hope. The whole world is balancing on a knife blade, and failure of Fanny or Freddy would just about be our "Greece" moment. What everyone is doing is waiting for housing to "catch up" to the heady days of 2005-6. If that $300k McMansion could get back to $300k, instead of the $225k price they are now, maybe we could pull this hat trick out, but with 10% unemployment and little inflation,....probably not. Then of course, if inflation and jobs rear their ugly head, we will have an economy like Jimmy Carters,... 23% interest rates, and 12% inflation, due to all the money we are printing and spending as I type this.
It's just a symptom of the bigger problem that we are watching a 97 cent stock get delisted as it become worthless as an investment, yet we go to work every day, pay our bills, and purchase things, just as if things will go on as they always have before. The 97 cent price is set by the market place to represent what people think America is worth because Fanny and Freddie are basically representative of America's worth. When a stock gets under $5, many institutions aren't"t allowed to own such stocks, so, what happens now is anybody's guess.
Thank you very much for that response. It is quite informative.
Obamulans sound amazingly like the Romulans of Star Trek (TNG)! That is a good word for the whole gang of Obama! Thanks, I am going to use that word for them from now on.
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