Comments on: Recently Bailed-Out Banks Refuse to Take California IOUs

By: Meh

Meh — Fri, 10 Jul 2009 03:07:08 +0000

Isn’t that phrased a little oddly? Even CR says that they will stop rather than just refused; they’ve all already accepted the registered warrants. I mean, BoA, for example, already issued a press release about this July 1st – http://newsroom.bankofamerica.com/index.php?s=43&item=8489

By: Ry

Ry — Fri, 10 Jul 2009 02:57:22 +0000

Should be “Thysson” and Krupp? n’est pas?

By: underwritingsolutionsllc

underwritingsolutionsllc — Fri, 10 Jul 2009 02:02:18 +0000

Why not a Brady Plan for California?

It worked for Mexico.

By: Jeremy

Jeremy — Thu, 09 Jul 2009 22:57:25 +0000

I guess California isn’t too big to fail after all.

By: James Kwak

James Kwak — Thu, 09 Jul 2009 03:57:03 +0000

I can accept that. I think the sucker here is the federal government, which gave them unlimited assistance for as long as the banks needed it, yet failed to secure any leverage that would enable them to get anything in return.

By: Bayard

Bayard — Thu, 09 Jul 2009 02:26:54 +0000

It makes sense. Why would these banks want to add more toxic assets? The California IOU is the ultimate example of the write-off waiting to happen. California is going to default on everything. Maybe a really big earthquake would solve their problems, then they could just assign insurance proceeds to their creditors:) How many other states will soon be asking banks to accept IOU’s. Many, if my hearing is right!!

By: Top Posts « WordPress.com

Top Posts « WordPress.com — Thu, 09 Jul 2009 00:31:23 +0000

[...] Recently Bailed-Out Banks Refuse to Take California IOUs The Wall Street Journal (via Calculated Risk) reports that a group of large banks has announced that it will not accept [...] [...]

By: winstongator

winstongator — Thu, 09 Jul 2009 00:14:27 +0000

Add GoldenWest/WorldSavings to the Wells/Wachovia giant.

By: Bruce

Bruce — Wed, 08 Jul 2009 21:56:16 +0000

Here is a Matt Taibbi article in Rolling Stone to stoke things up. Ah yes, Goldman Sachs. http://zerohedge.blogspot.com/2009/06/goldman-sachs-engineering-every-major.html

By: Bruce

Bruce — Wed, 08 Jul 2009 21:50:45 +0000

Wish I had edit or spell check. ugh

By: Bruce

Bruce — Wed, 08 Jul 2009 21:49:15 +0000

It’s as simple as it is hard. We need 3,4 or 5 million of us to head for Washington prepared to camp out and possibly go to jail. We don’t let them leave there offices until they surface with wide ranging reform on Campaign finance Banking/Finance and Healthcare(singlepayer)in their paws. Anything short if this is just flat out dreaming at this stage of the game. You guys just keep feeding us the details and continue as spokesmen. We’ll continue walking out on their townhalls when ignored.I hope we all meet one day on the steps. God bless you all.

By: Hal

Hal — Wed, 08 Jul 2009 21:16:19 +0000

Let’s see: if CA gives you an IOU and you try to cash it and can’t, what is its value? If it has no value then you simply have been stiffed. And isn’t an entity that emits, say, stuff like bad checks that can’t be cashed liable to be prosecuted? Can IOUers who have gotten these bum checks sue CA for giving them out?

By: chad

chad — Wed, 08 Jul 2009 21:07:17 +0000

genius

*golf clap*

By: Lavrenti Beria

Lavrenti Beria — Wed, 08 Jul 2009 19:40:31 +0000

Russ,

I think that people are finally beginning to wake up to the fact that we are living in a fascist corporate state that, despite outward appearances, does everything that you might expect a fascist corporate state to do: Collude with industrial and financial interests as did Schacht with Tyson and Krupp in Germany the early years of the National Socialist dictatorship; torture detainees and launch wars of aggression against foreign states who have offered it no provocation; invade the privacy and violate the rights of both foreign subjects and its own citizens and, be materially complicit in ethnic cleasing. It took a little time but so did the yeast of a virulent anti-semitism take time to infest German culture sufficiently to assist with the success of the so called “National Revolution” in 1933. Today it is simply the function of the so-called “opposition party” to funnel public outrage into a blackhole. We’re there, its not something merely in prospect any longer.

By: Russ

Russ — Wed, 08 Jul 2009 17:00:26 +0000

I don't think any problem is ever going to be solved or reform carried out within the bounds of this system. It is the most calcified feudal entrenchment ever.