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« Bank Bailout News D-Day For Taxpayers: Generational Pillaging Continues Unabated. Bondholders Win, Your Kids Lose. Total Taxpayer Commitments expand to above $10 Trillion. Can we Party Like it's 1776 and Just Start Over? Jefferson Pukes in his Grave. | Main | Bailout: $9.7 Trillion Yes I Said $9.7 Trillion. Did I already mention $9.7 Trillion? »
Monday
Feb092009

Bailout CNBC: Videos Steve Liesman, Fast Money and Rick The Bad Ass Santelli Discuss Bank Bondholders vs. Taxpayers in an epic deathmatch resulting in monetization and pain for all living creatures. Meanwhile Bill Gross is Talking His Book Somewhere.

We have avoided reporting the daily changes and leaks regarding the Geithner bank bailout plan in order to remain sane. It's all noise until they announce it and even then expect changes. It boils down to an apparently difficult choice for Treasury: bondholders versus taxpayers. Bill Gross vs. your family.

Gross would be better served to stop talking his book. He has been right every time except Lehman. Take your positions and then shut up. Stop getting on CNBC and Bloomberg and telling viewers that the taxpayer should absorb these assets. You are transparent. Every one sees it and recognizes your game. And you are losing industry respect with this behaviour.

CNBC won't allow embedding so click the photo to go directly to the video. There is a 2nd video inside from Fast Money today with Steve Liesman offering up the latest on the Geithner plan.  And a 3rd video of Gross's most recent appearance on CNBC. Just remember, no matter what you hear tomorrow, whether it is a ring fence. or insurance, or a public-private partnership, or taxpayer bad bank, it all means the same thing. You absorb the losses and Bill Gross and the other bondholders win.

I'm numb to the pain. I see monetization down the road and resignation has set in. The Bloomberg piece detailed the $9.7 trillion in committments we've made so far. The debt will be $20 trillion in 2015.  Interest on the debt will be between $800 billion and $1 trillion annually at that point depending on our funding costs. It's all over but the crying. We will not be able to service the debt.

And Santelli, thanks for the good fight.

 

Click here for the squirrel for Monday. 45 stories inside one link.

 

Here's the discussion from Fast Money today. Click the picture below.

 

And here is Bill Gross in his most recent CNBC appearance.

 

 

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Reader Comments (7)

I can't take Gross seriously with his haircut.
Feb 9, 2009 at 11:27 PM | Unregistered CommenterZixit
Thanks for the updates. I have to say I'm heartsick about what is happening and am looking ways to protest this outrage. Where are the internet campaigns to show the opposition to this abuse of the Taxpayers?
Feb 9, 2009 at 11:32 PM | Unregistered CommenterGreed Killed America
Bill Gross has hair too thin to be that long. Somebody should tell him to get a haircut.
Feb 10, 2009 at 4:51 AM | Unregistered Commentertedzbear
@greed

public anger is growing palpably. the issue is now being openly discussed. bonholders vs. taxpayers. is the core.

it's too late to stop this round being announced today, though take heart that the plan has been scaled back because of the public outcry.

so they have begun to listen.

the banks will need more capital every few months for the next 2 years at least so our goal is to make this the last capital injection by taxpayers before bondholders get wiped out.
Feb 10, 2009 at 6:59 AM | Registered CommenterDailyBail
donald trump has shown that no amount of money can fix bad hair. gross suffers from a similar follicular affliction.
Feb 10, 2009 at 7:00 AM | Registered CommenterDailyBail
Finally got it.....AMERICANS HAVE NO BALLS TO STAND UP AGAINST OPPRESSION At HOME OR ABROAD ANYMORE.....THAT DIED WITH ... WW2 and RACE RELATIONS of the 60's Now, it's RICH VS POOR and the poor LOST!.
Feb 10, 2009 at 3:45 PM | Unregistered CommenterAin't Bullshittn'
The bailout is about the same as the DOD's annual expenditures over each of the last five years. You guys gotta chillax
Feb 12, 2009 at 8:50 AM | Unregistered Commenterchubbz molinoire

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