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OnlyMe

Ppip - Public-private Investment Partnership

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Mish has a good take on it too.

http://globaleconomicanalysis.blogspot.com...-ppip-scam.html

Basically, the banks want to bid for their own assets to get public money...you've got to hand it to them really.

No, really.

amazing

Federal Deposit Insurance Corp. Chairman Sheila Bair said banks involved in the U.S. Public- Private Investment Program won’t be permitted to buy their own impaired assets as a way to cleanse their balance sheets

I know it's been turned down - but the fact the banks are wanting to do it beggars belief

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amazing

I know it's been turned down - but the fact the banks are wanting to do it beggars belief

It hasn't been ruled out that they can re-purchase each other's. :ph34r:

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It hasn't been ruled out that they can re-purchase each other's. :ph34r:

was just thinking that

as regards buying their own, I'm still strugling with the concept - if you already own something, how do you buy it off yourself?

EDIT - and what's the point - the troubled asset is still on your books causing a stink

EDIT - think I get it now - the bank could pay themselves say 80c on the dollar for an asset whilst only putting in say 10c themselves with the rest coming from the public - and they still own the asset

Edited by newdman

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was just thinking that

as regards buying their own, I'm still strugling with the concept - if you already own something, how do you buy it off yourself?

EDIT - and what's the point - the troubled asset is still on your books causing a stink

EDIT - think I get it now - the bank could pay themselves say 80c on the dollar for an asset whilst only putting in say 10c themselves with the rest coming from the public - and they still own the asset

That's it. Why bother with this charade at all it will be obvious where the taxpayer money went, right back into the pocket of the banks/CEO's.

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was just thinking that

as regards buying their own, I'm still strugling with the concept - if you already own something, how do you buy it off yourself?

EDIT - and what's the point - the troubled asset is still on your books causing a stink

EDIT - think I get it now - the bank could pay themselves say 80c on the dollar for an asset whilst only putting in say 10c themselves with the rest coming from the public - and they still own the asset

exactly, a bailout thats unfathomable to 99% of the world, and if they found out, there would be another MPs expenses scandal.

the deceipt used by these crooks is unbeleivable, they are truly dedicated criminals and must be treated as such.

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