Comments on: Bankers: The New Socialists (Real Estate Bailout Edition) http://www.nakedcapitalism.com/2008/02/bankers-new-socialists-real-estate.html Sun, 22 Nov 2009 13:34:53 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Guambat Stew http://www.nakedcapitalism.com/2008/02/bankers-new-socialists-real-estate.html#comment-4044 Guambat Stew Fri, 15 Feb 2008 17:25:00 +0000 http://www.nakedcapitalism.com/2008/02/bankers-the-new-socialists-real-estate-bailout-edition/#comment-4044 Howard Milstein did a little point work on this idea in the NYT a week ago. See, "More Wall Street socialism" post at guambatstew.blogspot.com, February 7, 2008. Howard Milstein did a little point work on this idea in the NYT a week ago. See, “More Wall Street socialism” post at guambatstew.blogspot.com, February 7, 2008.

]]> By: Francois http://www.nakedcapitalism.com/2008/02/bankers-new-socialists-real-estate.html#comment-4027 Francois Fri, 15 Feb 2008 05:48:00 +0000 http://www.nakedcapitalism.com/2008/02/bankers-the-new-socialists-real-estate-bailout-edition/#comment-4027 Mark Twain on Congress also said:<br/><br/>"No man's assets are safe while Congress is in session."<br/><br/>I agree with Spectre: the fuckwads that stroll the halls of Congress will screw us, again.<br/><br/>And it goes without saying that the brass from the IBs and Mortgage Cos won't be penalized in any way. They're all members in good standing of the political donor class. Mark Twain on Congress also said:

“No man’s assets are safe while Congress is in session.”

I agree with Spectre: the fuckwads that stroll the halls of Congress will screw us, again.

And it goes without saying that the brass from the IBs and Mortgage Cos won’t be penalized in any way. They’re all members in good standing of the political donor class.

]]> By: Yves Smith http://www.nakedcapitalism.com/2008/02/bankers-new-socialists-real-estate.html#comment-4006 Yves Smith Thu, 14 Feb 2008 15:14:00 +0000 http://www.nakedcapitalism.com/2008/02/bankers-the-new-socialists-real-estate-bailout-edition/#comment-4006 Anon of 7:30 AM and dave l,<br/><br/>Thanks for the catches. Have corrected the post. I try to double check, but obviously was not sufficiently careful. Anon of 7:30 AM and dave l,

Thanks for the catches. Have corrected the post. I try to double check, but obviously was not sufficiently careful.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/02/bankers-new-socialists-real-estate.html#comment-4003 Anonymous Thu, 14 Feb 2008 14:07:00 +0000 http://www.nakedcapitalism.com/2008/02/bankers-the-new-socialists-real-estate-bailout-edition/#comment-4003 One might say there are no Nietzcheans when revaluation of all values affects their property adversely. More seriously, it is an interesting question about the economic vs psychological or moral conceptualization of the delaying tactics employed by the holders of of property declining in value in the market. The withdrawl of supply from the market tends to increase its value. So the stalling for time makes some sense from an isolated economic standpoint. One might say there are no Nietzcheans when revaluation of all values affects their property adversely. More seriously, it is an interesting question about the economic vs psychological or moral conceptualization of the delaying tactics employed by the holders of of property declining in value in the market. The withdrawl of supply from the market tends to increase its value. So the stalling for time makes some sense from an isolated economic standpoint.

]]> By: SPECTRE of Deflation http://www.nakedcapitalism.com/2008/02/bankers-new-socialists-real-estate.html#comment-4002 SPECTRE of Deflation Thu, 14 Feb 2008 14:04:00 +0000 http://www.nakedcapitalism.com/2008/02/bankers-the-new-socialists-real-estate-bailout-edition/#comment-4002 Suppose you were an idiot. And suppose you were a member of Congress ... but then I repeat myself. <br/><br/>- Mark Twain<br/><br/>Is there any doubt the jackarses will do it? Suppose you were an idiot. And suppose you were a member of Congress … but then I repeat myself.

- Mark Twain

Is there any doubt the jackarses will do it?

]]> By: Dave L http://www.nakedcapitalism.com/2008/02/bankers-new-socialists-real-estate.html#comment-4001 Dave L Thu, 14 Feb 2008 13:33:00 +0000 http://www.nakedcapitalism.com/2008/02/bankers-the-new-socialists-real-estate-bailout-edition/#comment-4001 "As Samuel Butler once said, the prospect of being hanged at dawn wonderfully focuses the mind."<br/><br/>Actually, that was Dr. Samuel Johnson. “As Samuel Butler once said, the prospect of being hanged at dawn wonderfully focuses the mind.”

Actually, that was Dr. Samuel Johnson.

]]> By: a http://www.nakedcapitalism.com/2008/02/bankers-new-socialists-real-estate.html#comment-3999 a Thu, 14 Feb 2008 12:50:00 +0000 http://www.nakedcapitalism.com/2008/02/bankers-the-new-socialists-real-estate-bailout-edition/#comment-3999 "Of course, that's one of the beauties of the originate and distribute model: there are so many parties in the food chain that it is hard to parse out culpability."<br/><br/>Culpability may be hard to determine, but it's pretty easy to see who's holding the bag - those who paid money to hold an asset that they didn't and don't know how to value. Come to think of it, doing that puts you pretty high on the list of guilty party in my book. “Of course, that’s one of the beauties of the originate and distribute model: there are so many parties in the food chain that it is hard to parse out culpability.”

Culpability may be hard to determine, but it’s pretty easy to see who’s holding the bag – those who paid money to hold an asset that they didn’t and don’t know how to value. Come to think of it, doing that puts you pretty high on the list of guilty party in my book.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/02/bankers-new-socialists-real-estate.html#comment-3997 Anonymous Thu, 14 Feb 2008 12:38:00 +0000 http://www.nakedcapitalism.com/2008/02/bankers-the-new-socialists-real-estate-bailout-edition/#comment-3997 tpyo 3rd paragraph, schene =/ scheme tpyo 3rd paragraph, schene =/ scheme

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