RLflutie7 Posted January 15, 2009 Share Posted January 15, 2009 Now apply the same eye to the "Clinton Economy". Clinton was the worst president we ever had. He answered and yielded to Wall Street more than any other president and still brags how many jobs were created. I'd like to ask Clinton "Where are all those jobs now?" Bush gets a bum rap because he became president and then the dot com thing crashed. Link to comment Share on other sites More sharing options...
GG Posted February 24, 2010 Share Posted February 24, 2010 Not bad at all, and since the holdings ill be corporate high yield bonds and CMBS, should deliver a nice return over the long term. Where do I sign up? For anybody keeping score Shares in a $5 billion pool of toxic assets distributed as 2009 bonus pay for Credit Suisse Group investment bankers returned 72% last year, people familiar with the situation said. Known as the Partner Asset Facility, the plan was originally billed as a way for Credit Suisse bankers to "eat their own cooking." The pool is largely made up of commercial mortgage-backed securities and leveraged-loan products Credit Suisse sought to offload in late 2008 as it scaled back its own risk-taking. The fund assets originally included debt of a Japanese shopping center, a mining company and a U.S. supermarket chain. ..... Credit Suisse management, which didn't comment, has backed the toxic-asset plan as a "thoughtful, responsible" way of addressing public and political fury over banker bonuses. Unlike crosstown rival UBS AG, Credit Suisse didn't accept government funds, opting instead to replenish its capital privately. Link to comment Share on other sites More sharing options...
DC Tom Posted February 24, 2010 Share Posted February 24, 2010 For anybody keeping score Time for a windfall tax/bonus confiscation. Link to comment Share on other sites More sharing options...
GG Posted February 24, 2010 Share Posted February 24, 2010 Time for a windfall tax/bonus confiscation. Or invade Switzerland. Link to comment Share on other sites More sharing options...
meazza Posted February 24, 2010 Share Posted February 24, 2010 For anybody keeping score I work in Hedge Fund Accounting and our clients with the best YTD performance are the managers dumping their assets in distressed debt. The payoff has been insane. Link to comment Share on other sites More sharing options...
GG Posted February 24, 2010 Share Posted February 24, 2010 I work in Hedge Fund Accounting and our clients with the best YTD performance are the managers dumping their assets in distressed debt. The payoff has been insane. To translate for the non accountants, the above proves that what happened in 2008 was a meltdown of liquidity and accounting treatment of financial assets, not a meltdown of the assets themselves. That's why the TARP worked exactly how it was designed - provided time for the accounting values and market values to equalize at a reasonable point. That's why TARP layout to anyone but Fan/Fred or AIG to earn a nice profit to the govt in 1 yr. Link to comment Share on other sites More sharing options...
meazza Posted February 24, 2010 Share Posted February 24, 2010 To translate for the non accountants, the above proves that what happened in 2008 was a meltdown of liquidity and accounting treatment of financial assets, not a meltdown of the assets themselves. That's why the TARP worked exactly how it was designed - provided time for the accounting values and market values to equalize at a reasonable point. That's why TARP layout to anyone but Fan/Fred or AIG to earn a nice profit to the govt in 1 yr. So will Congress pay themselves nice bonuses Link to comment Share on other sites More sharing options...
DC Tom Posted February 24, 2010 Share Posted February 24, 2010 I work in Hedge Fund Accounting and our clients with the best YTD performance are the managers dumping their assets in distressed debt. The payoff has been insane. I do recall saying 12-15 months ago that anyone who could buy up the "toxic assets" would make a killing. Props to me, again. Link to comment Share on other sites More sharing options...
meazza Posted February 24, 2010 Share Posted February 24, 2010 I do recall saying 12-15 months ago that anyone who could buy up the "toxic assets" would make a killing. Props to me, again. The American Public will never truly understand that they basically got to buy assets at a bargain. Of course will those profits be used to pay back the debt???????? Link to comment Share on other sites More sharing options...
Chef Jim Posted February 24, 2010 Share Posted February 24, 2010 I do recall saying 12-15 months ago that anyone who could buy up the "toxic assets" would make a killing. Props to me, again. So what size yacht you buying? Link to comment Share on other sites More sharing options...
DC Tom Posted February 24, 2010 Share Posted February 24, 2010 So what size yacht you buying? Yacht? I hate sailing. I'd rather have this. Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted February 24, 2010 Share Posted February 24, 2010 I do recall saying 12-15 months ago that anyone who could buy up the "toxic assets" would make a killing. Props to me, again. Well, not so much. It's common sense. Buy when everyone's selling, sell when everyone's buying. Link to comment Share on other sites More sharing options...
DC Tom Posted February 24, 2010 Share Posted February 24, 2010 Well, not so much. It's common sense. Buy when everyone's selling, sell when everyone's buying. Common sense isn't. Link to comment Share on other sites More sharing options...
Chef Jim Posted February 24, 2010 Share Posted February 24, 2010 Yacht? I hate sailing. I'd rather have this. Who said anything about using a yacht to sail? Half the people who own yachts have no clue where the damn thing is. I just figured you needed the tax write off. Link to comment Share on other sites More sharing options...
DC Tom Posted February 24, 2010 Share Posted February 24, 2010 Who said anything about using a yacht to sail? Half the people who own yachts have no clue where the damn thing is. I just figured you needed the tax write off. And surplus Russian fighter jets aren't? Anyway, I never said I bought any toxic assets. No siree...I shorted 'em. Got to lose money so I can get free health care. Link to comment Share on other sites More sharing options...
Chef Jim Posted February 24, 2010 Share Posted February 24, 2010 And surplus Russian fighter jets aren't? Anyway, I never said I bought any toxic assets. No siree...I shorted 'em. Got to lose money so I can get free health care. Tax deductions or not owning a Russian MIG would just be too !@#$ing cool. Link to comment Share on other sites More sharing options...
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