Comments on: A Picture Of Dysfunction http://www.redstate.com/pejman_yousefzadeh/2009/02/17/a-picture-of-dysfunction/ Thu, 14 May 2009 16:10:42 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: 6eorge Jetson http://www.redstate.com/pejman_yousefzadeh/2009/02/17/a-picture-of-dysfunction/#comment-4059 6eorge Jetson Tue, 17 Feb 2009 14:05:55 +0000 http://www.redstate.com/pejman_yousefzadeh/?p=1196#comment-4059 the value of all outstanding mortgages stood at $12 trillion before the credit crunch. I'd like to see where the estimated "$2 trillion" of losses is coming from. Is some due to inter-bank swap contracts? I'm guessing around $3 trillion of sub-prime was issued. While we know many couldn't pay and housing prices have fallen, the collateral hasn't vanished. How much is due to walk aways of more credit-able (not worthy) folks? the value of all outstanding mortgages stood at $12 trillion before the credit crunch. I’d like to see where the estimated “$2 trillion” of losses is coming from.

Is some due to inter-bank swap contracts?

I’m guessing around $3 trillion of sub-prime was issued.
While we know many couldn’t pay and housing prices have fallen, the collateral hasn’t vanished.

How much is due to walk aways of more credit-able (not worthy) folks?

]]> By: Scope http://www.redstate.com/pejman_yousefzadeh/2009/02/17/a-picture-of-dysfunction/#comment-4057 Scope Tue, 17 Feb 2009 12:54:09 +0000 http://www.redstate.com/pejman_yousefzadeh/?p=1196#comment-4057 Geithner had been right alongside Paulson since before the meltdown. I had linked a very detailed article here many weeks ago showing the deep connections. The fact that Geithner was there all along, involved in the Paulson/Bush bungling, and still now seemingly has no viable plan doesn't speak well to how much confidence he has garnered. If Geithner didn't say anything at all it would have been much better. To come out and say basically nothing made him look even more incompetent and unprepared. In the markets- confidence is everything. I suspect he has already made his path to success that much harder to walk. The again, I'm not sure that he didn't purposely hold back until the Stimulus passed and was safely signed into law. That is to happen today, and now I hear Geithner will speak tomorrow. As serious as it all is, it is now becoming one big con game. Geithner had been right alongside Paulson since before the meltdown. I had linked a very detailed article here many weeks ago showing the deep connections. The fact that Geithner was there all along, involved in the Paulson/Bush bungling, and still now seemingly has no viable plan doesn’t speak well to how much confidence he has garnered. If Geithner didn’t say anything at all it would have been much better. To come out and say basically nothing made him look even more incompetent and unprepared. In the markets- confidence is everything. I suspect he has already made his path to success that much harder to walk. The again, I’m not sure that he didn’t purposely hold back until the Stimulus passed and was safely signed into law. That is to happen today, and now I hear Geithner will speak tomorrow. As serious as it all is, it is now becoming one big con game.

]]> By: 6eorge Jetson http://www.redstate.com/pejman_yousefzadeh/2009/02/17/a-picture-of-dysfunction/#comment-4055 6eorge Jetson Tue, 17 Feb 2009 12:37:07 +0000 http://www.redstate.com/pejman_yousefzadeh/?p=1196#comment-4055 On "Degree of End-of-term Socialist Sentiment" the Bush administration gets an F. On “Degree of End-of-term Socialist Sentiment” the Bush administration gets an F.

]]> By: JSobieski http://www.redstate.com/pejman_yousefzadeh/2009/02/17/a-picture-of-dysfunction/#comment-4054 JSobieski Tue, 17 Feb 2009 11:56:50 +0000 http://www.redstate.com/pejman_yousefzadeh/?p=1196#comment-4054 his handling of the situation was terrible. PR is part of the job. As is EDUCATING the public. Going around saying "do this, I don't have time to explain, or die" is not part of his job description. his handling of the situation was terrible. PR is part of the job. As is EDUCATING the public.

Going around saying “do this, I don’t have time to explain, or die” is not part of his job description.

]]> By: jeburke242 http://www.redstate.com/pejman_yousefzadeh/2009/02/17/a-picture-of-dysfunction/#comment-4051 jeburke242 Tue, 17 Feb 2009 08:38:59 +0000 http://www.redstate.com/pejman_yousefzadeh/?p=1196#comment-4051 Just goes to show you hat no one is indispensable. Obama gives Geithner a pass on cheating on his taxes (and so does the Senate), and it turns out the guy may be out of his depth! Lesson: If you think something about a guy is wrong, you're probably righ http://thepurplecenter.blogspot.com/ Just goes to show you hat no one is indispensable. Obama gives Geithner a pass on cheating on his taxes (and so does the Senate), and it turns out the guy may be out of his depth!

Lesson: If you think something about a guy is wrong, you’re probably righ

http://thepurplecenter.blogspot.com/

]]> By: 6eorge Jetson http://www.redstate.com/pejman_yousefzadeh/2009/02/17/a-picture-of-dysfunction/#comment-4050 6eorge Jetson Tue, 17 Feb 2009 08:29:45 +0000 http://www.redstate.com/pejman_yousefzadeh/?p=1196#comment-4050 Paulson acted in October as if he was making it up as he went along...<font color="FireBrick">because he was!!!</font> Paulson addressed an immediate crisis. And after Paulson realized no one had a clue as how to price the toxic assets and after he saw the Brits employ the multiplier effect of added capital, he switched course. I don't think you expect Paulson to bat 1.000 in those hectic circumstances. Now along comes Geithner, four months later in the midst of a relatively stable (albeit pessimistic) market, and he shows up without an answer. <font color="FireBrick">Thank God it wasn't Geithner last Sept/Oct!</font> Paulson acted in October as if he was making it up as he went along…because he was!!! Paulson addressed an immediate crisis. And after Paulson realized no one had a clue as how to price the toxic assets and after he saw the Brits employ the multiplier effect of added capital,
he switched course. I don’t think you expect Paulson to bat 1.000 in those hectic circumstances.

Now along comes Geithner, four months later in the midst of a relatively stable (albeit pessimistic) market, and he shows up without an answer.

Thank God it wasn’t Geithner last Sept/Oct!

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