Monday, November 2, 2009

Bill Black on CIT

Another busy week folks. I will post when I can. Take a look at this Tech Ticker featuring Bill Black. Bill was one of the good guys that cleaned up the housing bust as a bank regulator back in the late '80's/ early 90's.

Geithner essentially placed the taxpayers at the back of the line when it came to setting up this pre-packaged BK for CIT. The bondholders were placed ahead of the taxpayers and were paid on at least some of their investment while the taxpayers got a big fat 0 on their $2.3 billion investment!

Geithner is not looking out for the taxpayer folks. In fact, he is totally hell bent on screwing you as he foolishly tries to bailout his Wall St friends.

Wake up!


getyourselfconnected said...

Got Gold?

CT-Hilltopper said...

We're broke.

Jeff said...

Scary times folks

The move in gold and drop in treasuries was ominous today.

Something tells me the market is demanding that the Fed explains how it plans on paying back the trillions of dollars it has created.

The statement should be very interesting.

Anonymous said...

"The death of one man is a tragedy, the death of millions is a statistic."


Anonymous said...


"Buffett bets $26bn on US and BNSF

Warren Buffett on Tuesday struck his biggest deal with the $26.6bn purchase of Burlington Northern Santa Fe, one of the largest US railroad operators, in what the billionaire investor called an “all-in wager” on America’s economic future. The cash-and-shares deal by Buffett’s Berkshire Hathaway, which already owns 22.6% of BNSF, caps a long search for an “elephant” deal to deploy his vast cash pile. It values Texas-based BNSF at $44bn, including $10bn of debt and Berkshire’s existing stake."

Jeff said...

Smart move by Buffet. Why hold cash when its worthless?

This is more of a bearish bet on the economy and the US Dollar. Of course the fools in the press would never say it.

getyourselfconnected said...

re Buffet:
I have worked railroads and trains so I have a soft spot for them!

Hope you still hav ehair left and have not pulled it all out being so busy Jeff!