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ASN General Discussion, page-8740

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mbc

1,349 Posts.

436

14/03/23

07:19

Post #: 66745882
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Originally posted by mbc: ↑

The bank assets were long term US government bonds, they have a face value, they are never worth zero unless the USA is bankrupt. The government didn’t cover losses of anything. This is absolutely nothing like subprime with the exception that banks are involved and in stress - the reasons are entirely different and the solution being rolled out is different.

This is a liquidity issue, not a debt issue - these banks have their customers money, it’s just tied up in long term structures that make it hard to get out quickly without losing money - but if they have time, they can. Time is the real key to this situation.

The change in FDIC rules for the discount window are zero-sum; the distressed banks get their liquidity, and it isn’t for free - ALL other banks PAY for it! They are using fees paid by banks into a big insurance fund to cover any costs and losses incurred.

If having insurance is socialism, well I wonder if you’ve insured your car or your house? The banks paid for this, they should be allowed to access it.

Expand

Also, the investors in those banks that get to access this - they get nothing, the banks are wound up so the share price goes to zero and they lose their entire investment — that’s perfect capitalism!

Last edited by mbc: 14/03/23

ASN Price at posting: 21.0¢ Sentiment: Buy Disclosure: Held
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Last 10.0¢		Change -0.005(4.76%)		Mkt cap ! $131.6M

Open	High	Low	Value	Volume
10.5¢	10.5¢	9.9¢	$128.2K	1.283M

Buyers (Bids)

No.	Vol.	Price($)
3	22432	10.0¢

Sellers (Offers)

Price($)	Vol.	No.
10.5¢	302627	10

View Market Depth

No.	Vol.	Price($)
3	22432	0.100
5	143804	0.099
5	245140	0.098
5	593617	0.097
5	236391	0.096

Price($)	Vol.	No.
0.105	302627	10
0.110	375671	5
0.115	202408	4
0.120	230100	4
0.125	655051	9

Last trade - 12.32pm 08/08/2024 (20 minute delay)

ASN (ASX) Chart