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View Diary: The Smart Move: Geithner Isn't Going Anywhere (1238 comments)

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  •  Thats in affect... (3+ / 0-)
    Recommended by:
    soms, FORUS50, FistJab

    What they are doing. They are purchasing the original securties from the holder and canceling all contracts related to that security, that is to say, they are nulling out the default side of the ledger.

    But its just going to take time to get through all of it...

    What we do for ourselves dies with us, what we do for others and the world remains and is immortal. (Albert Pine)

    by laughingriver on Mon Mar 23, 2009 at 03:26:28 PM PDT

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    •  I haven't heard anything like that (1+ / 0-)
      Recommended by:
      ganymeade

      happening. You have a source? That would be a good, good thing if it is true.

      In every cry of every man, In every infant's cry of fear, In every voice, in every ban, The mind-forged manacles I hear

      by Areopagitica on Mon Mar 23, 2009 at 03:31:41 PM PDT

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      •  Read through this article... (4+ / 0-)
        Recommended by:
        nepat, soms, pstoller78, FistJab

        Here

        The FED is helping to unwind AIG's CDS by purchasing the underlying securities an and canceling the contracts...

        There is a lot going on that the FED is doing that is very much under the radar but are in fact good things...

        What we do for ourselves dies with us, what we do for others and the world remains and is immortal. (Albert Pine)

        by laughingriver on Mon Mar 23, 2009 at 03:45:52 PM PDT

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        •  And this is good how? (2+ / 0-)
          Recommended by:
          Areopagitica, Edgewater

          The Fed's balance sheet has expanded tremendously with no endgame in sight!  Meanwhile, one wonders how many times AIG will come back for more money to funnel to Goldman Sachs, hedge funds and European banks.

          •  As long as the tax-payers keep paying (0+ / 0-)

            they'll keep coming back to the trough.

            "The time for justice is always right now!" - Samantha Booke, Wiley College debate team, 1935

            by Edgewater on Mon Mar 23, 2009 at 05:04:43 PM PDT

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