tag:blogger.com,1999:blog-31671374.post8684525238142994109..comments2023-10-30T07:10:34.610-07:00Comments on Underbelly: Geithner RulesBucehttp://www.blogger.com/profile/16452321114185736762noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-31671374.post-61852461971649372002011-08-24T20:28:09.912-07:002011-08-24T20:28:09.912-07:00If no Republican complains, they should be tarred ...If no Republican complains, they should be tarred and feathered.<br /><br />At every removal of risk, there is the injection of moral hazard, and the bolstering of the impunity and recklessness of the remaining banks.OldSouthhttps://www.blogger.com/profile/01381229263357074199noreply@blogger.comtag:blogger.com,1999:blog-31671374.post-10780478772304747932011-08-23T20:47:37.657-07:002011-08-23T20:47:37.657-07:00Don't follow. We're adding money to the as...Don't follow. We're adding money to the asset side of the balance sheet, right? So every dollar that goes, e.g., to pay off Countrywide losses-means a dollar freed up for the bondholder, right?<br /><br />A good test will be the political response. If no Republican complains, then we know the fix is in.Bucehttps://www.blogger.com/profile/16452321114185736762noreply@blogger.comtag:blogger.com,1999:blog-31671374.post-25361796868780242982011-08-23T18:33:19.740-07:002011-08-23T18:33:19.740-07:00Not necessarily. There are claims superior to the...Not necessarily. There are claims superior to the bondholders right now, and Jamie Dimon is many things but he would <em>never</em> have been as stupid as Ken Lewis is/was.<br /><br />$100B will barely cover Countrywide losses and ML write-offs.<br /><br />And it would explain the pressure on the NY/DE/NV/IL/etc. ad nauseam AGs. As with S&P leadership changes, these things don't happen overnight.Ken Houghtonhttps://www.blogger.com/profile/01440837287933536370noreply@blogger.com