On Apr 21, 9:46 pm, alexy <nos...@[EMAIL PROTECTED]
> wrote:
> Vide...@[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!
>
then stay stupid. i never ever said all debt was a liability. we have
been thru this before. at least in your absence you may have acquired
some common sense.
> >> > kinda looks like debt forgiveness to me.
>
> >> What debt was forgiven?
>
man, i already ansewed. bear is out of business. the fed got bears so-
called assets they could not sell. bear was valued at about $60 a
share, two days later they were out of business, but, morgan got the
good stuff, and bear management got their gravy, and the fed got
nothing. even though they financed this fiasco.
> No answer?
>
> Let's take this a step at a time.
>
> Do you know what a debt is?
HAHAHAHAHAHAHAHAHAHAHAHA, this coming from someone who thinks debt is
money.
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.).
>
HAHAHAHAHAHA, oh dear, i never knew. can you use the debt as money
then, after all, you had a lot of trouble with that last fall before
you disappeared:)
> 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.
think bear sterns, duh.
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.
>
duh, or when you are allowed to repeatedly swap garbage assets worth
almost nothing, for good debt called treasuries, duh. and then you are
allowed to forever reapplying for the swap, thus laundering away you
bad assets. why am i even discussing this with you?
> >> >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?"
>
its a answer you will never know till it becomes over whelmingly
obvious. do you ever get embarrassed?
> >> > 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.
>
you mean, you cannot understand.
> > 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?
>
because, its debt. now i get you to pay it off for me. kinda like
swapping my credit card debt that cannot be paid back, for your cash.
> > 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 bear 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.
>
you are a simpleton.
> > 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.
>
we have been thru this before. if you cannot sell it, and you need to
pay your bills, what is it worth?
> --
> Alex -- Replace "nospam" with "mail" to reply by email. Checked
infrequently.
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