Godlike Productions - Discussion Forum
Users Online Now: 1,553 (Who's On?)Visitors Today: 273,128
Pageviews Today: 445,881Threads Today: 143Posts Today: 2,550
06:25 AM


Rate this Thread

Absolute BS Crap Reasonable Nice Amazing
 

***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS

 
Me114
Offer Upgrade

User ID: 323570
United States
09/22/2008 01:47 PM
Report Abusive Post
Report Copyright Violation
***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS


mentioned on cnbc as breaking news 1:45 pm
mon
9/22/8

no linky yet


barney frank said govt will want EQUITY stakes in addition to taking on bad debt
Me114  (OP)

User ID: 323570
United States
09/22/2008 02:42 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
[link to www.bloomberg.com]

Dodd Proposes Giving U.S. Equity Stake for Bad Debt (Update2)

By Dawn Kopecki and James Rowley

Sept. 22 (Bloomberg) -- Senate Banking Committee Chairman Chris Dodd offered an alternative today to the Bush administration's financial rescue plan aimed at giving the U.S. Treasury an equity stake when it helps companies burdened by debt.

Dodd, a Connecticut Democrat, is circulating a draft of his bill as Congress seeks to deal with a financial crisis that has been called the U.S.'s worst since the Great Depression.

The Bush administration is proposing a $700 billion plan to buy devalued assets from investment firms to keep the financial system from coming to a halt. Democrats have pledged to act quickly on the measure, even as they seek to create an oversight structure, limit the compensation of executives at the companies benefiting from the rescue and provide mortgage relief for struggling borrowers.

``We cannot just turn over $700 billion in taxpayer money and not insist that that taxpayer is going to be protected in this,'' Dodd told reporters yesterday.

Treasury Secretary Henry Paulson has urged Congress to pass legislation without delay and without linking it to new programs.

``We need this to be clean and quick, and we need to get it in place,'' Paulson said yesterday in an interview with ABC News.

Equity Stake

The legislation requires Treasury to take an equity stake equal to the purchase price of the assets being bought. If the company isn't publicly traded, the government would take senior debt instead, placing it in the front of the line of debt holders for repayment in the event of a bankruptcy.

Dodd's proposal also would create a five-member oversight board to supervise the Treasury secretary's purchase and sale of distressed mortgage debt.

It would consist of the chairmen of the Federal Reserve, Federal Deposit Insurance Corp. and the Securities and Exchange Commission as well as two members from the financial industry designated by congressional leaders.

The board would be authorized to set up a so-called credit review company consisting of Treasury employees to study the soundness of the purchases. Under the plan, the government would be required to obtain an equity stake equal to the value of the debt that is purchased from the companies, including those whose shares are not publicly traded. The Treasury secretary would also be required to issue weekly public reports on the amount of assets bought and sold by the U.S.

Penalize Executives

Dodd is proposing to penalize executives who take ``inappropriate or excessive'' risks. The executive compensation and severance packages could be reduced if that is ``in the public interest,'' the proposal says. It would also force executives to give back profits they earned that were based on company accounting measures that are later found to be inaccurate.

Republican presidential candidate John McCain, who has supported giving shareholders a bigger say in executive compensation in the past, said today that taxpayers shouldn't foot the bill for ``golden parachutes'' for officers of companies that have crumbled in upheaval on Wall Street.

``The senior executives of any firm that is bailed out by Treasury should not be making more than the highest paid government official,'' McCain said at a campaign event in Scranton, Pennsylvania.

The president is the highest paid federal official, with a salary of $400,000 a year.

U.S. Representative John Campbell, a California Republican and a member of the House Financial Services Committee, said that while he supports the Treasury proposal, he's willing to consider the creation of an oversight board and executive-pay limitations.

Committee Republicans plan to meet later today to discuss the issue, Campbell said.

``I don't think we have a lot of choice,'' Campbell said. ``And the consequences of doing nothing are unconscionable.''

To contact the reporter on this story: Dawn Kopecki in Washington D.C. at [email protected].
Last Updated: September 22, 2008 12:47 EDT
Anonymous Coward
User ID: 490844
United States
09/22/2008 02:43 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
that be socialism.

The US is dead.

deader than a doornail.
Anonymous Coward
User ID: 508194
United Kingdom
09/22/2008 02:44 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
that be socialism.

The US is dead.

deader than a doornail.
 Quoting: Anonymous Coward 490844


lol

yep!
Anonymous Coward
User ID: 508194
United Kingdom
09/22/2008 02:47 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
we've all been had

BIGTIME!
Anonymous Coward
User ID: 490844
United States
09/22/2008 02:49 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
that be socialism.

The US is dead.

deader than a doornail.


lol

yep!
 Quoting: Anonymous Coward 508194

i find no humor in this turn of events.
Anonymous Coward
User ID: 508194
United Kingdom
09/22/2008 02:51 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
that be socialism.

The US is dead.

deader than a doornail.


lol

yep!

i find no humor in this turn of events.
 Quoting: Anonymous Coward 490844


oh, sorry! whip

cry
Anonymous Coward
User ID: 465375
United States
09/22/2008 02:52 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
F'd in the A.
Anonymous Coward
User ID: 508419
United States
09/22/2008 02:58 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
I am a conservative Republican but I agree with Dodd.

If we are going to buy all the banks toxic paper, I say we take a big chunk of their good assets as collateral.

If the fuckers went bankrupt, they would lose everything.

Why should Joe Sixpak get stuck with the results of their bad decisions.

Get back to basics. I lend you money, you put up some collateral to ensure that you will pay back the loan. Otherwise, fuck off.
Me114  (OP)

User ID: 323570
United States
09/22/2008 03:15 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
does this addition mean what i think it means?

that they will take houses, money, and companies from us?
Anonymous Voice
User ID: 472369
United States
09/22/2008 03:25 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
They may be assuming too much and they can not guarrantee anything either. Their egos may be cashing checks their brains do not allow (with the subconscious and unconscious.)

This is because it is possible that the religious websites are correct about the future as far as their corner of the world goes.

If you disaggree then fine, but take computer programming and first find out how much you assume (because you will end up spending more time to correct the program because it will not work in the end).

That is what hate will do even if some people deny it.
Anonymous Coward
User ID: 495492
United States
09/22/2008 03:25 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
bump
Anonymous Coward
User ID: 373696
United States
09/22/2008 03:29 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
does this addition mean what i think it means?

that they will take houses, money, and companies from us?
 Quoting: Me114

No, it means they will take ownership of some of the assets of these companies, as well as the debt.

Makes sense to me, if I have to take the risk, I should be vested in the payoff, whenever it comes.
Me114  (OP)

User ID: 323570
United States
09/22/2008 03:32 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
does this addition mean what i think it means?

that they will take houses, money, and companies from us?

No, it means they will take ownership of some of the assets of these companies, as well as the debt.

Makes sense to me, if I have to take the risk, I should be vested in the payoff, whenever it comes.
 Quoting: Anonymous Coward 373696



51% is all u need to OWN the company
Anonymous Coward
User ID: 419558
United States
09/22/2008 03:34 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
Good for Dodd, good for Obama for standing up to the creeps. At least this way we get something out of those farkers
Anonymous Coward
User ID: 490844
United States
09/22/2008 03:34 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
does this addition mean what i think it means?

that they will take houses, money, and companies from us?

No, it means they will take ownership of some of the assets of these companies, as well as the debt.

Makes sense to me, if I have to take the risk, I should be vested in the payoff, whenever it comes.
 Quoting: Anonymous Coward 373696

GOVERNMENT OWNERSHIP OF ASSETS

USA IS DEAD.
idiot
User ID: 469144
United States
09/22/2008 03:45 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
the capitalist system has fallen and it can't get up?!?!?!?!

democrats wish to FURTHER ENSLAVE THE PUBLIC with stranglehold economic tactics!!!

the crooks in DC wish to dig deeper into YOUR pocket!!

to bail out the golden parachutes!!

the result is america become the 'richest third world economy'!!!

congress is now currently destroying what is left of the capital carcass...

stealing all the 'fluff out of everyones pillows'!!!!

EXCEPT congress will steal taxpayers futures and social securities mountain WITHOUT a care and then DOWN THE TUBES... presto the system is flushed away and all the wealth of the people is GONE to THIN AIR!!!

these perhaps never to be disclosed tyrannies being dealt as loosing hands to an already bankrupt citizenry!!

wars are created when overdue bills need to be paid and killing those who come knocking on the door for payment is the only way out; the back door is locked and the shotgun is loaded; the pantry is almost empty and the knocks are bound to be heard before too long...

smells like a powder-keg starting to sizzle, better run for your lives less the shackles and chains can fill your hunger brother, hope you got a plan uncle sam!!

this whole crisis stinks of faux play and be warned these times they are a changing rapidly!!


hiding hiding hiding hiding hiding hiding hiding hiding hiding
Me114  (OP)

User ID: 323570
United States
09/22/2008 03:57 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
Good for Dodd, good for Obama for standing up to the creeps. At least this way we get something out of those farkers
 Quoting: Anonymous Coward 419558



u are not understanding

whomever holds 51% of the stock (or can get 51% of stockholders to agree ) can control the board of the company and determine the whole business plan

u do not want the govt to own that power in our companies
Anonymous Coward
User ID: 373696
United States
09/22/2008 04:08 PM
Report Abusive Post
Report Copyright Violation
Re: ***BREAKING*** GOVT WANTS STOCKS IN ADDITION TO BAD DEBTS
Good for Dodd, good for Obama for standing up to the creeps. At least this way we get something out of those farkers



u are not understanding

whomever holds 51% of the stock (or can get 51% of stockholders to agree ) can control the board of the company and determine the whole business plan

u do not want the govt to own that power in our companies
 Quoting: Me114

Why not? Current ownership is corrupt & incompetent, congress can hardly do worse. At least they're motivated to impress voters, not just plutocrats.

Besides it's been done before with no more sacrifice of our freedom than the Patriot Act took.





GLP