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ProfessionalLeftist (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 04:31 PM Original message |
BofA Dumps $75 Trillion In Derivatives on U.S. Taxpayers |
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annabanana (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 04:31 PM Response to Original message |
1. So. They got away with it after all. . . . .n/t |
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Warpy (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 04:33 PM Response to Original message |
2. The problem is that there is not enough wealth left in the country to pay for that stuff |
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lunatica (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 04:36 PM Response to Original message |
3. Forgive my ignorance. What does this mean to people like me? |
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JDPriestly (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 05:05 PM Response to Reply #3 |
10. This means you owe $83,000 or thereabouts, and they are going |
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benld74 (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 04:45 PM Response to Original message |
4. This makes WEEK 3 showing on DU, haven't seen it anywhere else |
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banned from Kos (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 04:50 PM Response to Reply #4 |
5. Because its pure bullshit - no respected financial news would report on it |
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inna (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 05:00 PM Response to Reply #5 |
8. keep defending the banks and those who do NOT need your defense |
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banned from Kos (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 05:06 PM Response to Reply #8 |
11. I am not defending the banks. I defend Obama, reality, and good regulation |
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dkf (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 05:01 PM Response to Reply #5 |
9. The taxpayer is obligated to pay FDIC insurance if BOA uses the deposits to pay off the derivatives. |
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banned from Kos (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 05:14 PM Response to Reply #9 |
12. Dodd-Frank won't allow that. |
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leveymg (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 05:21 PM Response to Reply #12 |
15. Isn't seizing the bank the same as a bail-out, as far as the taxpayer is concerned? |
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dkf (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 08:12 PM Response to Reply #15 |
22. They moved the derivatives into the FDIC insured banks. |
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robinlynne (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 11:17 PM Response to Reply #15 |
24. good question. |
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dkf (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 08:08 PM Response to Reply #12 |
20. Well they say that the CDS are offset. But if the counterparty fails then they are exposed. |
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leveymg (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 05:17 PM Response to Reply #5 |
13. Must we explain the difference? One set of books is federally insured, the other isn't |
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banned from Kos (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 05:28 PM Response to Reply #13 |
16. Well, now we're getting somewhere. We have gone from $75 trillion to $1 trillion |
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robinlynne (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 11:16 PM Response to Reply #5 |
23. The point is they shifted the derivatives from stock agencies, which are NOT insured |
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ProfessionalLeftist (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 04:56 PM Response to Reply #4 |
6. Not sure what you mean? |
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JDPriestly (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 04:58 PM Response to Original message |
7. Is this the junk Wall Street unloaded on us? |
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Bonobo (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 05:18 PM Response to Original message |
14. I'm confused. |
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Autumn (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 06:25 PM Response to Reply #14 |
18. It's a metaphor |
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Bonobo (1000+ posts) Send PM | Profile | Ignore | Sun Nov-13-11 03:26 AM Response to Reply #18 |
29. Good one! nt |
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DianaForRussFeingold (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 06:23 PM Response to Original message |
17. $75 Trillion?! how's that break down per person...?! OMG |
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Turbineguy (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 07:25 PM Response to Original message |
19. OK basically Bof A took over these |
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bvar22 (1000+ posts) Send PM | Profile | Ignore | Sun Nov-13-11 01:23 PM Response to Reply #19 |
32. Perfectly Clear. |
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sarcasmo (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 08:10 PM Response to Original message |
21. Government takeover NOW! |
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robinlynne (1000+ posts) Send PM | Profile | Ignore | Sat Nov-12-11 11:19 PM Response to Reply #21 |
25. I second that. |
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Ikonoklast (1000+ posts) Send PM | Profile | Ignore | Sun Nov-13-11 08:16 AM Response to Reply #21 |
30. Uh, no, that is the exact opposite of what we want to happen. |
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bvar22 (1000+ posts) Send PM | Profile | Ignore | Sun Nov-13-11 01:34 PM Response to Reply #30 |
33. And if any of these banks fail in the meantime, |
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HCE SuiGeneris (1000+ posts) Send PM | Profile | Ignore | Sun Nov-13-11 12:36 AM Response to Original message |
26. Shhh. |
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Marr (1000+ posts) Send PM | Profile | Ignore | Sun Nov-13-11 12:39 AM Response to Original message |
27. This *somehow* slipped right by our corporate media outlets. |
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OnceUponTimeOnTheNet (1000+ posts) Send PM | Profile | Ignore | Sun Nov-13-11 01:30 AM Response to Original message |
28. slicker than snot, the way they get away with it all |
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Harmony Blue (1000+ posts) Send PM | Profile | Ignore | Sun Nov-13-11 08:26 AM Response to Original message |
31. I am outraged that they will dump this on the public |
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theophilus (1000+ posts) Send PM | Profile | Ignore | Sun Nov-13-11 01:43 PM Response to Original message |
34. If BofA is a corporation and if corporations are people......BofA should be executed. n/t |
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SammyWinstonJack (1000+ posts) Send PM | Profile | Ignore | Sun Nov-13-11 01:46 PM Response to Original message |
35. I guess Obama can't do anythingabout this either, since he's not a King or Dictator. |
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