On Apr 22, 2:39 pm, alexy <nos...@[EMAIL PROTECTED]
> wrote:
> Vide...@[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.
bear sterns was bankrupt. what do you think bankruptcy is? no debt
involved there correct? the fed assumed it. again, you have nothing.
and absence has not made you any smarter.
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