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Wednesday, January 20, 2010

AIG CDOs and The Fed

According to a bunch of idiots the Fed is making billions on the CDOs it bought from AIG. The CDOs which FT says had $62.1 bn face value and a market value of $29.6 bn are currently worth about $45 bn. Really??? Try to sell them then!!!! What morons these crooked reporters and people who believe them are. Two reminders: One is that Fed paid valiantly in most if not all cases the face value as we remember the concessions given to Goldman and the other banks on other AIG related contracts and two is that besides the Fed nobody would buy them, so talking about a market value as for talking about a market value for most of the bank assets still is retarded. Without the Fed there was and still is no market. God!! There are so many CNBC type people in the media. Do your own research people and don't believe everything you see in major media. They are mostly lies or trying to hide the truth.

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