{"id":198399,"date":"2007-11-12T00:03:00","date_gmt":"2007-11-12T05:03:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/11\/12\/banks-creating-shell-game-to-convince-gullible-investors-that-their-level-3-assets-not-worthless\/"},"modified":"2007-11-12T00:03:00","modified_gmt":"2007-11-12T05:03:00","slug":"banks-creating-shell-game-to-convince-gullible-investors-that-their-level-3-assets-not-worthless","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/11\/12\/banks-creating-shell-game-to-convince-gullible-investors-that-their-level-3-assets-not-worthless\/","title":{"rendered":"Banks Creating Shell Game to Convince Gullible Investors That Their Level 3 Assets Not Worthless"},"content":{"rendered":"<p>Bank of America, Citigroup and JPMorgan Chase have <a href=\"http:\/\/www.nytimes.com\/2007\/11\/11\/business\/11bank.html?ex=1352437200&amp;en=1e2f1eb9e2445db9&amp;ei=5090&amp;partner=rssuserland&amp;emc=rss\">agreed on the rules for their $75 billion fund to stabilize their various structured investment vehicles<\/a> (SIV).<\/p>\n<p>What this comes down to is an attempt to stick it to a less savvy investor.  These SIVs have no marketplace, and cannot be sold at anything near face value, they are essentially illiquid unless you are willing to take something like a dime on the dollar.<\/p>\n<p>What this fund will do, at least until it runs out, is to function as a faux buyer, so as to create a faux market price, which will allow the banks to dump these off on the stupid.<\/p>\n<p>We need to reinstate the Depression era banking regulations, big time.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of America, Citigroup and JPMorgan Chase have agreed on the rules for their $75 billion fund to stabilize their various structured investment vehicles (SIV). What this comes down to is an attempt to stick it to a less savvy investor. These SIVs have no marketplace, and cannot be sold at anything near face value, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973],"tags":[],"class_list":["post-198399","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198399"}],"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=198399"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198399\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=198399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=198399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=198399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}