The beneficiaries of the bank bail out were not shareholders in banks, this must have been clear from the onset.
The real beneficiaries, whether intended or not, were the bondholders. Prior to the bail out the value of bank bonds were very much depressed because banks might have defaulted or renegotiated repayments terms. Bond values have now risen because default risk is now close to zero.
I've missed the point? I don't give a flying fuck about shareholders or bondholders. Gorgon said that this was going to save the economy. It so fucking hasn't, so can we please shit-can the idea and get our money back?
6 comments:
Obo, you have missed the point.
The beneficiaries of the bank bail out were not shareholders in banks, this must have been clear from the onset.
The real beneficiaries, whether intended or not, were the bondholders. Prior to the bail out the value of bank bonds were very much depressed because banks might have defaulted or renegotiated repayments terms. Bond values have now risen because default risk is now close to zero.
I've missed the point? I don't give a flying fuck about shareholders or bondholders. Gorgon said that this was going to save the economy. It so fucking hasn't, so can we please shit-can the idea and get our money back?
Agreed, so let's have our money back.
Agreed money back or Cyclops head on a spike!
I vote for money back and a Gorgon on a spike.
Once I have that money back, I'll buy some more spikes.
How is half a trillion down the swannie the square root of fuck all? Fuck all must be pretty fucking huge and therefore a rather misleading number...
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