{"id":192514,"date":"2009-03-23T23:05:00","date_gmt":"2009-03-24T04:05:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/23\/scatological-explanation-of-the-geithner-plan\/"},"modified":"2009-03-23T23:05:00","modified_gmt":"2009-03-24T04:05:00","slug":"scatological-explanation-of-the-geithner-plan","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/03\/23\/scatological-explanation-of-the-geithner-plan\/","title":{"rendered":"Scatological Explanation of the Geithner Plan"},"content":{"rendered":"<p>So, I was on a <a href=\"http:\/\/www.blogger.com\/stellarparthenon.org\">private BBS<\/a> formed out of the ashes of Netslaves, and someone asked the following:<\/p>\n<blockquote><p>CNN keeps talking about it raising the DOW today, but I have no idea what it actually is supposed to do.<\/p><\/blockquote>\n<p>So I quickly riffed on this, and the response was <span style=\"font-weight: bold;\">very positive<\/span>, so I thought that I should share my (somewhat profane) explanation with the world:<\/p>\n<hr \/>\n<p>Short:<\/p>\n<ul>\n<li> Place your hand in your pocket.<\/li>\n<li> Remove wallet<\/li>\n<li> Hand to Wall Street Executive.<\/li>\n<\/ul>\n<p>    Longer version:<\/p>\n<ul>\n<li> The Treasury\/FDIC\/FED will make <span style=\"font-weight: bold;\">non recourse<\/span> loans to allow investors to buy into the big <span style=\"font-weight: bold;\">sh@#<\/span>pile of mortgage backed securities (MBS), credit default swaps (CDS) and other alphabet soup so that they buyer will put down about 3% for a 20% stake in this <span style=\"font-weight: bold;\">sh@#<\/span>.<\/li>\n<li> A non recourse loan means that if the investment fails, the lender (i.e. the taxpayer) takes back the <span style=\"font-weight: bold;\">sh@#<\/span>, and the loan is settled, basically, they are only out their 3% (or less) down payment.<\/li>\n<li> Basically, it&#8217;s a subsidy to the big banks and investment houses, who created the <span style=\"font-weight: bold;\">sh@#<\/span>, because the small investor cannot get the <span style=\"font-weight: bold;\">sh@#<\/span> for cash deal without going through the big banks and investment houses, and paying a <span style=\"font-weight: bold;\">sh@#<\/span> load of commissions.<\/li>\n<li> This has the effect of creating a taxpayer subsidy for the <span style=\"font-weight: bold;\">sh@#<\/span> that is (at least, there are other programs that feed in) of at least 30%.<\/li>\n<li> So eat your <span style=\"font-weight: bold;\">sh@#<\/span> sandwich, and know that somewhere a Wall Street banker is spending your money on some prostitute to <span style=\"font-weight: bold;\">sh@#<\/span> on him.<\/li>\n<\/ul>\n<p>What can I say but <span style=\"font-weight: bold;\">sh@#<\/span>?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So, I was on a private BBS formed out of the ashes of Netslaves, and someone asked the following: CNN keeps talking about it raising the DOW today, but I have no idea what it actually is supposed to do. So I quickly riffed on this, and the response was very positive, so I thought &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004,985],"tags":[],"class_list":["post-192514","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192514"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=192514"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192514\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}