Quote:
Originally Posted by Hal  So, you’re saying because he thinks the risk sharing 2.7 billion is a sham, despite being in there in black & white, he decides to disregard it for the purposes of his calculations and nationally proclaimed results, but he also decides he won’t mention that he’s disregarding it and thereby inflating his result.
You say we are recovering loans not property, that of course is only partly true, a pool you swim in all the time, but for everyone else they know that when we can’t recover the full loan, we then proceed to recover the money through the property. Your banker knows this as well as everyone else but again decides to produce figures & results by ignoring this fact, and again not mentioning that this is what he is doing.
The fact that you find this kind of nonsense acceptable tells us everything about your own “plucked out of the air” figures and your general arguments on everything else.
At the very least, very, very shoddy work imo. |
If property prices continue to fall, the banks will have nothing to pay back to the taxpayer, nothing, they will be wound up.
So yes the risk sharing is a total joke, a worthless IOU.
The equivalent of a gambler standing at a roulette wheel and asking for 10k and promising you he will give you 12k back if his bet on black comes up.
However if it turns up red, he hasn't got a rex to repay you.
Everyone knows this is a multi billion roulette wheel spin and if it doesn't come up black for Lenny, we are bankrupt and we will not receive a single cent form the banks.