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More taxpayers money used badly

Discussion in 'General Chat' started by MrBurns, Oct 28, 2008.

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  1. MrBurns

    MrBurns

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    One stuff up after another.....

     
  2. CoffeeKing

    CoffeeKing

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    80 mil for the 15 already...
    or 80 mil to cover the landslide of funds that freeze accounts?
     
  3. wallyt99

    wallyt99

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    AYyyyyy.....


    What is backing the deposit guarantee? Future debt obligations? Hyper inflation?


    We NEED to seperate our banks, from these organisations, otherwise we will face massive inflationary pressure, as their losses are spread over us all. Why should we pay for the speculative greed of others?!!!!!
     
  4. MrBurns

    MrBurns

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    80mill to help the mortgage funds comply so they can tap into your tax dollars and be guaranteed also. take a risky investment get bailed out anyway, with YOUR money thats the Rudd way.
     
  5. robots

    robots hello

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    hello,

    farmers and motor industry included there? i am sick of those handouts as well

    thankyou
    robots
     
  6. MrBurns

    MrBurns

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    I wouldnt think so robots but....hey it's only Tuesday they've got all week to bailout everyone, they'll have to raise interest rates to pay for it all.
     
  7. wallyt99

    wallyt99

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    Actually....it should be more like - Take a risky investment, Get bailed out anyway, with OTHER PEOPLES MONEY thats the Rudd way.
     
  8. CoffeeKing

    CoffeeKing

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    Outrageous - no point in saying it won't stop there then is it...

    Suppose Medicare to go up again?
     
  9. So_Cynical

    So_Cynical The Contrarian Averager

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    As long as its politically palatable...the media will be patting him on the head tomorrow.:rolleyes:
     
  10. Calliope

    Calliope

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    I believe the Nigerian scam victims will be next.
     
  11. wallyt99

    wallyt99

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    Hmmmm... thats good news. I purchased some Viagra on the Internet recently, and haven't recieved it.

    Hopefully Kevin can do something about my erection problems too!!! :D
     
  12. Knobby22

    Knobby22 Mmmmmm 2nd breakfast

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    What about the gian t ferris wheel in Melbourne. $100 million! What a waste.
     
  13. LM

    LM

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    This thread has been, er, "Filtered" by Senator the Hon Stephen Conroy. Write to him here: minister@dbcde.gov.au - :)
     
  14. awg

    awg

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    hey dudes settle, your (and my) tax $ wont be getting used much.

    i cant believe this one, complete political b#llsh!t

    how can any of the mortgage or property trusts get bailed??

    they 100% CANNOT meet the conditions.

    I am amazed beyond belief... these sectors (unlisted) are worth probably $50 billion +

    they own PROPERTY and MORTGAGES.

    The only way they can redeem is to SELL the underlying assets.

    they keep about 10% cash on hand to meet redemptions.

    the implications of this are huge.

    most retirees hold their assets in MINS, not individual listed equities.

    I'll be f#cked if I can see any sort of good solution to this situation.

    will cause a massive slump in commercial property prices, cause the unlisted trusts mainly hold listed trusts, so they will sell them in order to allow redemptions, the sector will be gutted.

    same deal with the mortgage trusts, they would need to be re-financed by the very banks etc that own them such as CBA, MQG, AMP etc..and they are not really in a position to do this.

    I put up a seperate post on this, but no one responded.

    I'm not sure people realize how ugly this could get..when everyone wants to sell, prices must fall big time.

    The Managed Investment Industry will be very stressed at the moment
     
  15. fimmwolf

    fimmwolf

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    current definition of risk = a potential loss that cannot be realised whilst Australian taxpayers continue to exist.
     
  16. MrBurns

    MrBurns

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    Commercial property market is rooted anyway, spoke to a few high up the whole sector will see wholesale sackings from agents to trusts, there's just no buyers out there. Rudd will just make it worse and walk away grinning and muttering in Chinese, it must be hell on him waiting for the next chance to jet it os for another BS session with people who couldn't give a toss.
     
  17. CoffeeKing

    CoffeeKing

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  18. Buddy

    Buddy

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    Yup, I agree awg.
    It is also nonsense to expect a bailout of these funds. Higher return = higher risk. Let them wear it, that's the way it works. So if 747 gives in to these funds and provides a guarantee, why wouldn't everyone withdraw money from the banks and put it in these so called managed mortgage funds for a higher return. :confused:
    That will be a fine mess to sort out.
    747 the dud has really screwed this up. Let him take a very long overseas junket and hope that he doesn't come back.
     
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