The US Treasury Department today rolled out detailed plans for persuading private investors to help rid banks of up to $1 trillion in toxic assets that are seen as a ro****************************************** to economic recovery.
(Source: Irish Times: US plan to buy up toxic assets - The Irish Times - Mon, Mar 23, 2009)
Hi folks
Just interested in getting peoples view on the long-term repercussions of this plan..........
"People shouldn't fear their Governments, Governments should fear their people."
It is an absolutely appalling plan.
They expect (and will actually try to encourage) private individuals and businesses to invest in "toxic assets". I mean, if it wasn't actually happening it would be laughable!
Nobody in their right mind would invest in these toxic instruments. No doubt however people like fund-managers investing other peoples savings and pensions will be encouraged to invest in these ticking-timebombs.
In fact it will be twice as bad for creditors in a few years times, if people were lucky enough to realise a repayment let alone return on their "toxic-asset" investments, the dollar will more than likely be less valuable as a result of inflationary measures such as printing $1 trillion dollars out of thin air( link )
[COLOR="White"].[/COLOR]...the Fed was taking risks that could dilute the value of the dollar and set the stage for future inflation. Gold prices rose $26.60 an ounce, hitting $942, a sign of declining confidence in the dollar. The dollar, which had been losing value in recent weeks to the euro and the yen, dropped sharply again on Wednesday.
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agreed it may not be the best plan but i am a bit jealous that they have at least presented something fairly detailed unlike the wishy washy nonsense our government seems to continue to spew
It is just stealing and these are the thieves. As predicted the banks are getting another trillion dollar bailout. These 2 have done more damage in 8 weeks than anyone thought possible.
Maybe congress will voteit down
I really beleive Obama hasnt got a clue as to what he is doing, and is in fact a puppet for the bankers.
I am confused, hedge funds previously owned by private investors and traded followed by big f...k up and recession. Then govt say these hedge funds are toxic and want to buy. Buy for what? Is this to bail out public with public money...
I have to Stephonomics tonight to understand this ..
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The public are not being bailed out, the holders of the toxic assets are being bailed out
But why would anyone in their right mind buy these 'toxic assets'?
Europa Conventus Delenda Est
Which includes pension funds (401k), public share holding of disgraced companies??Originally Posted by youngdan
with out overhaul of the regulation what is this will ever work??
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It is my understanding that freddy/Fannie holds them so it is those holding the 5.2 trillion of fannie bonds that are sweating. The Chinese hold hundreds of millions of dollars of fannie bonds and the Europeans too.
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