The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Sea Otter who wrote (190819)	3/15/2009 8:11:59 PM
From: geode00	Read Replies (2) of 306849

"There are contracts," Summers said. "The government cannot just abrogate contracts." Yes Larry, that's what bankruptcy is for. Liddy is testifying (hope he's on cspan) and Congress or the Treasury needs to subpoena the contracts that 'require' bonuses when the company is bankrupt. WS knew that management's bonuses and stock would be worth nada in bankruptcy so they found a way (Paulson and now Geithner) to get the US taxpayer to give them bonuses and make their stock worth more than nada. Citibank insiders made $20 million in the last week or so trading their own stock. What? Trillions in borrowed money and this is the garbage that we buy. Can you imagine just how bad the toxic assets these frauds hold actually are? They must be toxic sludge and still the Treasury is trying to buy them. What? Honestly, I want this deal. Make millions during the bubble, make millions after the bubble and say it's all contractual. Make millions during the next bubble and say...aren't I smart? Obviously, the average taxpayer is positively stupid. We might as well send checks directly to Madoff.

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