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Posted by Gil Faver on October 5, 2008, 12:32 am
Alan over in Misc.Taxes.Moderated indicates he has posted the final version
of this bill as signed by Pres. Bush, on his website at:
http://taxtopics.net/Senate10108.pdf
Division A is the Emergency Economic Stabilization Act
Division B is the Energy Improvement & Extension Act
Division C is the Tax Extenders & Alternative Minimum Tax Relief Act
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Posted by dapperdobbs on October 5, 2008, 10:58 pm
Thanks for the link.
SEC. 114. MARKET TRANSPARENCY.
(a) PRICING.—To facilitate market transparency, the Secretary shall
make available to the public, in electronic form, a description,
amounts, and pricing of assets acquired under this Act, within 2
business days of purchase, trade, or other disposition.
(The above is what I want to see - what's paid for what and to whom,
under what terms. I wish there were provisions to force all
participants, whether defunct or living, to disclose the travesty
foisted off on us in its entirety. When sound financial planning
requires citizen oversight of enforcement of government regulations
just to ensure our plans - houses, money funds, stocks, bonds, gold,
currency - are going to be worth anything at all, things have gone w-a-
y out of hand.)
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Posted by abby on October 7, 2008, 6:55 am
> Alan over in Misc.Taxes.Moderated indicates he has posted the final
> version of this bill as signed by Pres. Bush, on his website at:
>
> http://taxtopics.net/Senate10108.pdf
>
> Division A is the Emergency Economic Stabilization Act
I found a useful summary here:
http://ag-marketcrisis.com/?p=553
It would appear that the net revenue will be whatever TARP spends on
these mortgages less what they collect from the mortgagees, less what
they lose reselling foreclosed properties. Is this roughly correct?
abby
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Posted by dapperdobbs on October 7, 2008, 3:45 pm
> It would appear that the net revenue will be whatever TARP spends on
> these mortgages less what they collect from the mortgagees, less what
> they lose reselling foreclosed properties. Is this roughly correct?
>
Yes, but you would have to add the value realized when the financial
instruments purchased, are sold. The "bailout" has been incorrectly
labeled as an "expenditure" when in fact it is more in the character
of an investment.
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