$5 Trillion here, $5 Trillion there ... pretty soon, before you know it, it really starts to add up ...
_________________ "Socialism only works in two places: Heaven where they don't need it and h*ll where they already have it." -- Ronald Reagan "Everybody, sooner or later, sits down to a banquet of consequences." -- Robert Louis Stevenson “Gold is money. Everything else is credit.” -J.P. Morgan, testifying to Congress in 1912
I'm surprised it took this long for people to take notice of ...it has been in the works for a ...I-Banks have a ton of securitized products that are kept off balance ...Citi alone has $1 Trillion of this stuff (mtgs, credit cards, if they packaged it, it's there)......wonder why Goldman Sachs barely is taking any writedowns.....$62 Billion in off balance sheet QSPE's and Unconsolidated VIE's......Morgan over $30 Billion......Lehman and Merrill DON'T EVEN LIST THEIR UNCONSOLIDATED ENTITIES ON THEIR FINANCIALS (at least I have not been able to find them as of yet, maybe I missed them, it's entirely possible) if these entities have to bring the unconsolidated stuff on their balance sheet in '09 and the housing crisis lasts through 2010, the writedowns will be enormous......one of my professors talked about this in grad school a few weeks ago........very scary when you think about it.....
View next topic View previous topic
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
