Video61@[EMAIL PROTECTED]
wrote:
>On Apr 21, 4:34 pm, alexy <nos...@[EMAIL PROTECTED]
> wrote:
>> Vide...@[EMAIL PROTECTED]
wrote:
>> > you mean like bear sterns?
>>
>> No. Nothing in the article you posted about them or about another
>> situation that parallels them.
>>
>
> its why you are not credible.
I hope never to be creditable to someone who thinks that the holder of
an IOU has a liability until the IOU is repaid, at which point it
becomes an asset!
>> > kinda looks like debt forgiveness to me.
>>
>> What debt was forgiven?
No answer?
Let's take this a step at a time.
Do you know what a debt is? That is when one entity owes something to
another entity. The entity that owes the money is the debtor, while
the entity to which it is owed is the creditor. And the part that you
seem to have had such difficulty with in the past--the debt is a
liability of the debtor (think homeowner with a mortgage, credit-card
holder, etc.) and an asset of the creditor (think mortgage company,
credit card company, etc.).
When (if) you get a grasp of that, let's move on to debt forgiveness.
Debt forgiveness occurs when the obligation of the debtor is
eliminated or reduced. A notable example is in bankruptcy, where the
debts of the filer may be eliminated or reduced. Another example is
when a debtor renegotiates the terms of a loan, which the creditor may
accept in lieu of a less attractive foreclosure and recapture of
collateral.
>> >the investment hous that bout bear, did not want most of its so-called
>> >assets, assets that i told you could not be sold, so what is their
>> >value, worthless? you still cannot come to grips with that.
>>
>> And how do you think that relates to either the article you posted
>> about the Bank of England or the concept of debt forgiveness?
>>
>
>
> of course it is.
"Of course it is" is not an answer to "How?"
>> > the fed
>> >accepted the so-called assets, because morgan would not touch them.
>>
>> Yep. No debt forgiveness, but propping up of assets.
>>
>
> the famous quibble.
Yes, your term for an insistence on dealing with facts, not just made
up stuff.
> then please pay my credit balance,
Who do you have a credit balance with, and why would I pay it if they
owe you money or goods or services?
> it needs to be propped up.
Or did you mean your credit card balances?
> when i die,
If I were your credit card company and I wiped off you balance when
you died, that would indeed be debt forgiveness.
> like what happened to brear sterns,
So far you have been consistently unable or unwilling to tell what
debts of Bear Stearns you think are being forgiven like your credit
card debt in the example.
> then you
>get the assets, err, debt.
If you want a personal example more like Bear Stearns, let's say you
have a house that two years ago was worth $300k, but because of
general housing downturn and a tem****ary housing glut in your
location, you have been unable to sell, even after lowering the price
to $225k. In fact, it has been re****ted that some joker made you an
offer of $50k, which you refused. Now from your previous posts, we
know that from this you conclude that your house is only worth $50k
(or maybe is worthless, since no one would pay a price you were
willing to accept.) Now, there is someone willing to pay $150k (JPM),
and the homeowners association (the Fed) decides the neighborhood
would be much better with the alternative owner, so they pitch in
$75k, which they structure as buying your mailbox (an essentially
worthless asset) as part of the transaction. There is a significant
subsidy going on there. Like Bear Stearns, you received far less than
what your home (company) was worth only recently, but due to subsidy,
got more than it's worth now.
All without any debt forgiveness.
--
Alex -- Replace "nospam" with "mail" to reply by email. Checked
infrequently.
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