Re: [Pen-l] Nationalization of banks with haircuts

To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] Nationalization of banks with haircuts
From: Shane Mage <shmage@xxxxxxxxxxxx>
Date: Fri, 23 Jan 2009 10:14:34 -0500
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On Jan 23, 2009, at 6:24 AM, Julio Huato wrote:

Again,
propping up banks doesn't mean to reward the bankers. As I said in my
reply to Shane Mage, there's no disagreement on that.

Yes there is. That *you* don't want to "reward" the executives, owners, and bondholders has nothing to do with the fact that the bailout rewards them by allowing them to keep their fraudulent "profit"-and-buyback-based bonuses and salaries amounting to tens, maybe hundreds of billions over the bubble years; to go on or resume paying dividends; to restore depreciated bonds to par value.

Shane Mage

This cosmos did none of gods or men make, but it

always was and is and shall be: an everlasting fire,

kindling in measures and going out in measures."

Herakleitos of Ephesos

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References:
- [Pen-l] Nationalization of banks with haircuts
  - From: Julio Huato

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Thread context:
- Re: [Pen-l] Nationalization of banks with haircuts, (continued)
  - [Pen-l] Nationalization of banks with haircuts, Julio Huato Fri 23 Jan 2009, 10:51 GMT
    - Re: [Pen-l] Nationalization of banks with haircuts, Shane Mage Fri 23 Jan 2009, 14:31 GMT
  - [Pen-l] Nationalization of banks with haircuts, Julio Huato Fri 23 Jan 2009, 10:57 GMT
    - Re: [Pen-l] Nationalization of banks with haircuts, Shane Mage Fri 23 Jan 2009, 14:46 GMT
    - Re: [Pen-l] Nationalization of banks with haircuts, raghu Fri 23 Jan 2009, 16:57 GMT
  - [Pen-l] Nationalization of banks with haircuts, Julio Huato Fri 23 Jan 2009, 11:28 GMT
  - [Pen-l] Nationalization of banks with haircuts, Julio Huato Fri 23 Jan 2009, 12:01 GMT
  - [Pen-l] Nationalization of banks with haircuts, Julio Huato Fri 23 Jan 2009, 15:47 GMT

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