Video61@[EMAIL PROTECTED]
wrote:
>> >> What debt was forgiven?
>>
>
> man, i already ansewed.
But your answer did not say anything about a debt that was forgiven,
only an asset that was propped up.
>bear is out of business. the fed got bears so-called assets they could
not sell.
Right. Assets. Nothing here about any debts being forgiven.
> bear was valued at about $60 a
>share, two days later they were out of business, but, morgan got the
>good stuff
I.e., BS's good assets. Nothing about forgiving their liabilities.
>, 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.
No, that is your term.
But I do believe that it is an asset of the creditor.
> 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:)
No. It's an asset. And like many other assets, it can provide access
to money. That is not the same thing.
>
>
>> 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.
You still haven't identified what Bear Stearns owed someone, and when
that obligation was forgiven.
> 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.
Nope. That is not a forgiveness of debt. It's an asset swap. There is
not a single liability of Bear Stearns that is removed or reduced by
such a swap.
>allowed to forever reapplying for the swap, thus laundering away you
>bad assets. why am i even discussing this with you?
Because you enjoy showing that you don't understand the difference
between an asset and a liability?
>>
> like what happened to bear sterns,
Nope. They had no liabilities that were wiped out, at least that you
have been able to show.
>>
>> 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.
So put it in simple terms. I explained above what a debt is. Find some
debts that BS owed to someone. And I explained what debt forgiveness
is. Find one of those debt that they ceased owing. Simple, right?
Surely you can do that if they did indeed get debt forgiveness.
>> 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?
Right, I acknowledged above that in that case, you would say that your
house was worthless or worth only $50k. But the point is that the
homeowners association's subsidy of the buyer to get you out of the
neighborhood is not a debt forgiveness.
>
>> --
>> Alex -- Replace "nospam" with "mail" to reply by email. Checked
infrequently.
--
Alex -- Replace "nospam" with "mail" to reply by email. Checked
infrequently.
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