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Paleales

Joined: 2/5/06 Posts: 7890
Likes: 667


It got little reporting.....


However, the hedge funds that purchased much of the government paper on the secondary market as low as .15-.30 on the dollar, the financial board had offered less than full value. Well the hedge funds sued and won in federal court, now potentially the US taxpayer will be responsible for the full value of the bonds. If my memory is correct it was initially offered to repay .72 on the dollar, now keep in mind the losses are already booked as the overwhelming majority of investors who purchased the bonds initially have already bailed. So here we have another example of wall street with their hand out screwing the american taxpayers.

(In response to this post by turbopir8)

Posted: 09/14/2018 at 11:09AM



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