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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: riversides who wrote (114004)10/3/2010 6:27:24 PM
From: maxncompany7 Recommendations  Read Replies (3) of 116555
 
Why do you constantly feed us mainstream media garbage? Whether leftish or rightish, it's not the intent of mainstream media to inform people what really goes on.

Here is what TARP was really for and how it was really repaid:

From Jim Sinclair:

Here is the flow of money:

1. Banks mark up their junk paper to full value.
2. This mark up was accounted for in the prop trading accounts.
3. Because it was a mark up there was no cash income but only a balance sheet change and artificial prop trading department profit.
4. Major sickening bonuses were paid to all members of these firms because it was the last draw from the well.
5. TARP money came into the firms to pay for the bonuses.
6. Where TARP was repaid it came from stock and bond issue.
7. Therefore the public paid for the bonuses on a flow of funds basis.
8. Flow of funds is the true measure.
9. Now all investment banks will have to do business to profit. Their only business left that can generate real money are credit default swaps and tax fiddling OTC derivatives. Now the prop trading department must be sold so you do not witness the daily major winner flopping big time. The buyers of bank prop trading departments are in for a shock.
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