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Speaking of 2008, I keep hearing no damages

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brandemarcus   Saturday, 01/12/19 06:17:37 PM
Re: Fully Diluted post# 491681
Post # of 526521 
Speaking of 2008, I keep hearing no damages because of Judge Wheeler in aig. The Aig situation was completely different as they had a "margin call". They got 61 billion right away from the New York Fed.
By contrast the Gse's at that time were cash flow positive and even year end each gse had only received 15 billion. This amount would have not even been necessary since large chunk of the losses were right-offs of tax provisions. Of course these amounts would then be written back up once the net worth swipe was in place. Just a coincidence-I know!
The contrast in accounting for Bank America, Citi etc with the Gse's is striking. They got 5% not 10% for their "loans" , no warrants and no net worth swipe. I know ,prove it in court. Well there is a higher court that will not trust the government with future funding unless justice is done.


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