We understand that the word “billion” has lost a good deal of meaning around here lately. Be that as it may, some statistics that contain the word are still useful (at least for entertainment value). To wit:
The Federal Reserve took on more than $74 billion in subprime mortgages, depreciating commercial leases and other assets after Bear Stearns Cos. and American International Group Inc. collapsed.
In its biggest disclosure of the securities accepted to stabilize capital markets, the Fed said yesterday it had unrealized losses of $9.6 billion on the assets as of Dec. 31. The bonds, swaps and notes were taken in from Bear Stearns, once the fifth-biggest Wall Street firm by capitalization, and AIG, which had been the world’s largest insurer.
Oh, and don’t worry about the 13% in losses the Fed has racked up in just over three months. Those are unrealized.
Bear, AIG Dumped $74 Billion in Subprime, CDOs on Fed [Bloomberg]
Now wait just one minute, hank said we would make money.
They don’t call them toxic for nothing.
Bear should have been allowed to go under and Lehman should have been saved.
The “world” Billion?
or word?
Not their fault. Paulson threatened to fire them all if they didn’t step up and buy…….
Is Maiden Lane hiring? What are Associate #’s?
What’s the fucking obsession over Paulson and his “alpha male” status?
He’s a fucking four eye elitist who could never make a clean tackle to save his life.
Fuck him and the Beard.
CODE PINK!
FUCK YEA!!!!!!!!!!!!!
@3, guess you worked for lehman. i guess bear can say in this case, first!
Talking about a billion:
Apple just revealed that the winner of its billion app download contest is Connor Mulcahey from Weston, Connecticut. The 13 year-old downloaded the billionth app called Bump, a tool for swapping information such as contact details and photos. The app store opened 9 months ago.
“Posted by guest, Apr 24, 2009 12:18PM
The “world” Billion?
or word?”
“Word” of course. Thanks.
13% or 31%????
Let Cioffi run the book!
-mrp
Good lord, and those are just the losses based upon their almost-certainly-bullshit marks.