A couple of my readers contacted me regarding my recent blog article Inspector General Barofsky: U.S. Treasury Hid A.I.G. Loss.
Christopher Hill of Krisken Managment in Geneva, Switzerland said:
After reading this information, I ask, how is it possible that the Treasury will own 92% of A.I.G. that it will eventually sell to the public? Does the public not already own the company? The public is the tax payer who bailed these managers out.
For the taxpayer to lose money, it means someone has to win money. The money does not disappear. From simple accounting, one can depreciate an asset to the value of 10 dollars, sell it to the institutional clients who will revalue the company and push its price to over 50 dollars.
So the Treasury is guilty of negligence or collusion to defraud the tax payer. Come on, how stupid do they think the American taxpayer is?
Of course Goldman Sachs, JP Morgan and the other banks that get free money from the Treasury -- via the Federal Reserve -- are being subsidized to buy these shares.
Why can't they subsidize Americans who want a job? It would be best to give all those shares to each American and or to use the proceeds of the sale to repurchase foreclosed homes and to give them back to their rightful owners who were naively encouraged to buy houses that they could not afford, yet made payments up to a certain date.
Did the banks not get to write off the losses on their tax returns? Now, I read that Swiss Bank UBS is getting off clean, even though they actively organized tax evasion for many citizens in the U.S. Is it not racketeering? There is no loss. It is an accounting entry, that reflects commissions and fees charged by intermediaries.
Think of how much money was paid to banks and auditors to tell people that -- oops -- we auditors and accountants screwed up, but we can show you how to understand our screw up. Of course we have our disclaimer and you have to pay us 5 billion dollars in case we go bust and are fired. We need to maintain our standard of living, because we have fancy schools to pay for, hairdressers for our wives, and for those who have mistresses, well, we have to pay to play.
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You can call all this "Accounting Tricks for Dummies". Where the hell are they getting their accountants "Al Queda"...
The bottom line is Americans are still divided by parties..The Reps did it... the Dems did it...HELLO the elite of both parties did it and are still doing it and until you the American people realize this and demand better from your Representatives and the media that is suppose to watch over them, nothing is going to change...The Devil is always in the details...
United you can change things while your opinions will divide you as the Devil sorts out the loot...
Collectively, we are.
And what about those "GOP Young Guns?" Are they serious?
More about the guns here:
http://completelybaked.blogspot.com/p/t-h-e-d-u-n-g-g-u-n-s.html
You got your answer to that one in the recent election when we put the House back in control of the party that created this disaster in the first place.
So what's your beef? He - a Swiss - said in one sentence what it took for you to say in about a hundred.
No wonder the US government is able to pull the whole over the eyes of most Americans. You can't read English.
Even NY Mayor Bloomberg recently said that Americans can't/don't read. Scary!
Emma Richmond, you must not have read the entire short article. Mr. Hill states - "Now, I read that Swiss Bank UBS is getting off clean...".
So what's your beef? He - a Swiss - said in one sentence what it took for you to say in about a hundred.
No wonder the US government is able to pull the WOOL over the eyes of most Americans. You can't read English.
Even NY Mayor Bloomberg recently said that Americans can't/don't read. Scary!
The same way they believe in the government, to be there and protect the citizenry. [perfectly-normal]
Now all that become a myth of the past.[we all know that] But what I can see here [from the swiss] Is the hypocrisy [in a way] To say about the treasury hidding. When since the world is round.
The Swiss where not only "Hidding" but protecting as well. Private accounts from millionaires, and billonaires outlaws of the world [including the americans]