Fed refuses to disclose recipients of bailout money

[Duke]

@Troy_McClure_SF

Is it just me, or has there been a rash of really, really stupid posts much like this one the past month or two?

Freepers gotta go somewhere when their server is down.

[Trepa_Mayfield]

@Troy_McClure_SF

Is it just me, or has there been a rash of really, really stupid posts much like this one the past month or two?

I’ve been noticing that…but not all of them signed up in the past two months, so it’s not necessarily the free posting.

[LonesomePolecat]

@Really_Not_All_That_Bright

Up to $100,000. If you’ve got more than that in the bank you have to be careful. Of course, if you’ve got more than that in the bank, Obama is going to take it away anyway.

The limit has been temporarily raised to $250,000, which would easily cover the vast majority of depositors. If you have more than that, you can just split the funds between two different accounts in two different banks.

[Carl_Corey]

I also don’t know that a Freeper would use the name “Boytyperanma.”
Maybe they would. [shrug]

[Euphonious_Polemic]

@boytyperanma

What are you upset your not a personal friend so didn’t get a check?

That’s exactly right! You’ve got it!

BrainGlutton is not upset at the fact that the Fed is refusing to disclose the recipients of 2 trillion dollars in bailout money, he is simply mad that he’s not getting some of the money!

Your brilliant!

(and it’s “you’re”, you ignorant fucknut)

[BrainGlutton]

GD thread.

[BrainGlutton]

@Euphonious_Polemic

BrainGlutton is not upset at the fact that the Fed is refusing to disclose the recipients of 2 trillion dollars in bailout money, he is simply mad that he’s not getting some of the money!

Don’t sell me short! I can be mad about both!

[accidentalyuppie]

@LonesomePolecat

The limit has been temporarily raised to $250,000, which would easily cover the vast majority of depositors. If you have more than that, you can just split the funds between two different accounts in two different banks.

Sure, if you really believe that the FDIC has enough reserves to pay out if a bank the size of Citibank or Chase fails.

I was against the bailout from the beginning and am still against it.

There is another piece of info I have been loking for, I am betting I don’t have a chance of finding it.

I want to know who got the AIG money. I know they are up to 150 billion in payouts on bad credit default swaps and I want to know which of their customers were on the recieving end of this swaps. I guess no one will ever tell, though.

[Really_Not_All_That_Bright]

@accidentalyuppie

Sure, if you really believe that the FDIC has enough reserves to pay out if a bank the size of Citibank or Chase fails.

I was against the bailout from the beginning and am still against it.

You realize, of course, that if Citigroup or someone like that failed, the government would be spending just as much money to pay off depositors as it would have to keep the bank solvent in the first place?

[Voyager]

@Really_Not_All_That_Bright

Up to $100,000. If you’ve got more than that in the bank you have to be careful. Of course, if you’ve got more than that in the bank, Obama is going to take it away anyway.

Put your money into cocaine. The drug trade is recession-proof!

Bad move. Based on the interview I’ve heard, every single crack and cocaine addict, inspired by Obama, is giving it up and going back to school.

[Snowboarder_Bo]

haha

did y’all hear the one about the failed bank exec who got hired by the Feds to oversee bank health?

Michael Alix was head of risk management for Bear Stearns for two years until the institution imploded this spring, a victim of its (risky) subprime-mortgage related investments.

Last Friday, the Federal Reserve Bank of New York quietly announced it had hired Alix to advise it on bank supervision.

OMFG is that funny or what? This whole bailout thingy is a laugh riot!

[Snowboarder_Bo]

OMG it just gets funnier and funnier!

Another AIG Resort “Junket”: Top Execs Caught on Tape
KNXV Discovers $343,000 Secret Gathering, AIG Signs and Logos Hidden

Even as the company was begging the federal government for another $40 billion dollars in loans, AIG sent top executives to a secret gathering at a luxury resort in Phoenix last week.

KNXV said the president of AIG unit Royal Alliance Associates, Art Tambaro, stayed in a two-story Casita suite and worked out at the spa while others participated in seminars.

In addition to Roth and Tambaro, the AIG executives who spent last week at the Phoenix resort, according to KNXV, were Mark Schlafly, president and CEO, FSC Securities’ Gary Bender, senior vice president, Investment Advisory Services; and Stuart Rogers, senior vice president.

I couldn’t make this stuff up! I can’t stop laughing!

As Homer said: It’s funny 'cause it’s true!

[Typo_Negative]

@Snowboarder_Bo

As Homer said: It’s funny 'cause it’s true!

[Nitpick] It was Fat Tony. [/Nitpick]

[Snowboarder_Bo]

@spooje

[Nitpick] It was Fat Tony. [/Nitpick]

negative, spooje. It was Homer, in “Homer vs. Lisa and the 8th Commandment”, 2nd season, episode 13.

Thank you! Come again!

[Typo_Negative]

D’oh. :smack: You’re right. Fat Tony said it season 3.

[Snowboarder_Bo]

yep, season 3 episode 4

[gonzomax]

Bloomberg is suing them to get the info out. Paulson promised transparency. Now he will not even tell the taxpayers what the collateral is. He will not say how much any one gets. Now he says what he chooses to pay them is none of our business.
It is going just like I expected.

[BrainGlutton]

And more . . .

The Washington Post has revealed the recent $700 billion taxpayer bailout of Wall Street contains a possibly illegal provision that stands to give American banks a massive windfall. As part of the bailout, lawmakers changed tax code Section 382, which limits the kinds of tax shelters companies can use during corporate mergers. It was created to stop companies who avoid paying taxes by acquiring shell companies valued by the losses on their stocks. The companies would then write off the losses and avoid paying taxes on their own profits. Taxpayers stand to lose some $140 billion from the move. Experts say the Treasury had no legal authority to eliminate the tax measure. Republicans have been trying to overhaul or eliminate it since its introduction in 1986. Congressional aides admitted lawmakers agreed to keep the change hidden to avoid public outrage. Staffers with Senate Finance Committee chair, Max Baucus, a Democrat, reportedly asked that an administration briefing on the tax code change be kept secret. One congressional aide said, “We’re all nervous about saying that this was illegal because of our fears about the marketplace. To the extent we want to try to publicly stop this, we’re going to be gumming up some important deals.”

<snip>

In other bailout news, Treasury officials are finalizing a new rescue package for the troubled insurance giant American International Group. The government has already loaned AIG $143 billion. The plan would restructure the loan to give AIG more time to pay it back at a lower rate.

Washington Post story

[BrainGlutton]

@Snowboarder_Bo

yep, season 3 episode 4

Of course, Al Capone/Robert DeNiro said it first.

[gonzomax]

American Express can now call itself a bank. Why? So they can qualify for the bank bailout money. That is the 3rd fucking financial institution that has been allowed to do that. This shit has got to be stopped.