Edward Tseng

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    • How to Spend $700B and Actually Solve the Problem
      I believe there is in deed no legitimacy and urgency for such a Paulson's plan. It is very questionable why we need the Paulson plan and what is the motive for him to bring it to us.

      Need proof for it? For a recent example, please look at what just happen to Washington Mutual who has $310 billion asset and $190 billion deposit. OTS took it over last night in an unusually urgent speed.(some called it "breathtaking.&qu... Even Alan Fishman, who took over the title of chairman of WaMu 16 days ago, was knocked off while he is on an airplane from DC back to Seattle. Why is it so urgent? Don't ask me,I didn't care Mr. Fishman's JP Morgan working history . Just look around who is benefited from it? The same steal for them: 3 cents for a dollar deal, again? Damn good God deal! Oh, my God! Great, as Bill Clinton said, "I envy" them.) But read in between of what OTS Chief said. He said, "there is no cost to FDIC or taxpayers and create a seamless transaction to all the concerned."

      What he meant? All the financial students predicted that FDIC would have a loss of about $90 billion and quickly run out of its fund because WaMu would cost at least ten times what Indymac did. In fact, It seems nothing happen even the biggest thrift of our country failed. NO, no big deal. No turmoil like bank run after the seizure. Sun still comes up, the Wall Street is running (no crash or collapse). And hard to believe, stock price is rising up this morning. It is totally contrary to all the scary episode described by those reports. Looking at the cool WaMu realities, in particular, with bad news in general economy, Paulson's action is freaking enough to me.

      Who decided WaMu is failed as they did in Indymac case? Oh, It is purely an Administrative discretion to act very agressively to meet an urgent need to protect the public. In other words, it is the Treasury or Mr. Paulson. Yes, nobody can go ask a court of law to review the seizure decision as Henry Paulson wanted for the $700 billion in his 3 page proposal.

      activerain.com/blogsvi...
      Sep 26 17:32 pm |Rating: 0 0 |Link to Comment |View article
    • How to Spend $700B and Actually Solve the Problem
      To Linguistics:
      Give me a break! Your Ebay model is like apple and orange, not a logical comparision .
      It really depends on your definition of "bailout." It doesn't matter since sometimes the means and ends are confusing.
      Okay, I accept your belief of what it is not. But what it really is?
      Okay, they have time to wait out the irrationality and panic. Do you think their ability is greater than a communist regime in terms of capitalism or free market? Yes, any communist party can wait for good timing to take place. They don't care about the market mechanism. What's their economic results? Gee, Paulson is dreaming to be a king beyond law and supervision, per his Section 8 of his proposal. Do you really believe that his socialism to have such a power to choose a better opportunity and perform better than the nature course of capitalism.
      There is one lesson just mentioned by the former Chief of RTC a few days ago: The longer the unperforming asset is held, the less value it has.
      Let the "invisible hand" work out naturally and keep the government intervention to the least level.
      Please click on my article "Wow! Joe Can't Spend Money?" at activerain.com/blogs/r.... I would like to have your further comment on my viewpoint about this issue.
      Sep 26 00:05 am |Rating: 0 0 |Link to Comment |View article
    • IndyMac Bancorp: Time to Take REOs Online
      the decline in IMB’s stock price has been painful to you in many ways (not just financially).

      **** **** ****
      My dear,
      The price fluctuation of a stock DOES NOT make any effect on the daily operation of a company issuing the stock.
      The only chance for IMB as a business entity to get richer or poorer is the time IMB makes a public offering to get capital from the investors or public.
      The sock price goes higher doesn't make IMB richer as a company. Conversely it does not make it poorer. No profit or loss for IMB gets in either conditions.
      Thank you for letting me know the Q42007 report will be due by the end of January 2008. Yes, I believe it is a critical time for the change of future direction of IMB stock.
      Basically before that point, everything happen is just "social sentiment" which may be not rational or can be controlled by IMB management.
      Jan 12 14:06 pm |Rating: 0 0 |Link to Comment |View article

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