If all that matters is the cost - just sieze the bad investments and then auction them off for whatever they'll sell for. The investment houses will still have the bad paper off their books, so it's not a total loss for them either.
A new scam email is floating around the internet, beware....
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From: paulson@treasury.gov Date: September 23, 2008 10:17:12 AM EDT To: james@xxxxxxx.com Subject: URGENT BUSINESS RELATIONSHIP!!!!!
Dear American: I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.
I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 700 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.
I am working with Mr. Phil Gramm, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.
This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.
Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.
3 comments:
No, it does not.
If all that matters is the cost - just sieze the bad investments and then auction them off for whatever they'll sell for. The investment houses will still have the bad paper off their books, so it's not a total loss for them either.
A new scam email is floating around the internet, beware....
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From: paulson@treasury.gov
Date: September 23, 2008 10:17:12 AM EDT
To: james@xxxxxxx.com
Subject: URGENT BUSINESS RELATIONSHIP!!!!!
Dear American:
I need to ask you to support an urgent secret business relationship with a transfer of funds of great magnitude.
I am Ministry of the Treasury of the Republic of America. My country has had crisis that has caused the need for large transfer of funds of 700 billion dollars US. If you would assist me in this transfer, it would be most profitable to you.
I am working with Mr. Phil Gramm, lobbyist for UBS, who will be my replacement as Ministry of the Treasury in January. As a Senator, you may know him as the leader of the American banking deregulation movement in the 1990s. This transactin is 100% safe.
This is a matter of great urgency. We need a blank check. We need the funds as quickly as possible. We cannot directly transfer these funds in the names of our close friends because we are constantly under surveillance. My family lawyer advised me that I should look for a reliable and trustworthy person who will act as a next of kin so the funds can be transferred.
Please reply with all of your bank account, IRA and college fund account numbers and those of your children and grandchildren to wallstreetbailout@treasury.gov so that we may transfer your commission for this transaction. After I receive that information, I will respond with detailed information about safeguards that will be used to protect the funds.
Yours Faithfully Minister of Treasury Paulson
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Funny email.
On that subject, I thought I'd share some interesting links on the crises:
http://ml-implode.com/
http://market-ticker.denninger.net
http://patriotarchives.blogspot.com
Market ticker showed that the FED may actually be making the crises worse to get the bailou approved.
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