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post #1 of 4 (permalink) Old 07-19-2009, 04:31 PM Thread Starter
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Your thoughts on Banker's Profits

Interesting article:

Windfalls for Bankers, Resentments for the Rest - NYTimes.com

Especially interesting as they make reference to O'Reilly in their article. Kinda odd for NY Times.

But anyway, your thoughts on financial firms and their post-bailout profits? Does this mean the bailouts worked, or were they not in as poor shape as we were lead to believe?

I'm wondering if those are fake profits. After all, those bad debts had to be shed at some point. My thinking is these companies got government bailout money, wiped out all bad investments, and now have a squeeky clean slate to post new financial numbers.

Interesting to see how politicians are keeping quiet. Looks like they don't know what to say yet.

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post #2 of 4 (permalink) Old 07-19-2009, 04:55 PM
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Re: Your thoughts on Banker's Profits

I didnt read the entire article because of boredom... but for the half of it i did read, I would say that you are partly correct in saying the companies were able to transfer out bad investments and now have a cleaner slate to work with.

false profits? im not so sure about that, misleading investors with false profits is now illegal as enron stockholders could have told you. Saying you are making more money then you actually are is a no no in the investment world.

if you are insinuating that there is some form of hiding or misrepresenting of the profits, or them being a touch inflated... that could be a possibility, but I highly doubt they are doing so.

A fresh start with the clean slate is the most likely scenario
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post #3 of 4 (permalink) Old 07-19-2009, 05:31 PM
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Re: Your thoughts on Banker's Profits

Quote:
Originally Posted by Pocket View Post
Interesting article:

Windfalls for Bankers, Resentments for the Rest - NYTimes.com

I'm wondering if those are fake profits.After all, those bad debts had to be shed at some point. My thinking is these companies got government bailout money, wiped out all bad investments, and now have a squeeky clean slate to post new financial numbers.
Reporting fake profits would probably be an illegal act that would be too risky.

Its been my opinion from the begining that bail outs were not necessary. That it was a panic attack and the bankers being smarter then the govt new how to work it. If anything maybe the bankers executives feared more for their jobs/packages.

In any case, I doubt they have cleared out their bad debt as nothing has changed with Fannie Mae/HUD/ and FHA. They are still giving loans to subprime people...yes subprime people. The difference is that the banks and Mortg brokers are not taking them on with the exception of the minimal amount required by the Fed. In othe words is that the market is shunning subprimers even though the Govt is pushing it still.

You probably know this but it wasnt actually too much upaid debt but rather to many "subprime" or "high risk" debt that they used in their portfolio in order to borrow more money so they could loan it. They became a higher risk because they were lined with too much crap.

Just my opion.

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post #4 of 4 (permalink) Old 07-19-2009, 10:14 PM Thread Starter
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Re: Your thoughts on Banker's Profits

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Originally Posted by upinsmoke70 View Post
A fresh start with the clean slate is the most likely scenario
That's what I was getting at. Kinda worded it funny I guess. Oh well, you got the idea.

Curtis
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