Not making a difference since 2006. Blog motto: Always be sincere whether you mean it or not.

Friday, October 03, 2008

Why am I always so behind?

I just can't keep up, I just can't keep up. I feel less than because of it.

Here I thought Fair Market Value was what a willing buyer would pay a willing seller.

I wasn't paying attention. There is a new definition,

FMV is what a willing government department is willing to pay a willing well connected less than competently run financial institution.


Black Sea said...

Ah, but what you fail to grasp is that when you buy a few billion (well actually, about a trillion) dollars worth of assets at above market rates, and then turn around and sell those same assets on the open market, you can make tons of money! Honest!! It won't cost the taxpayers a dime!!!

Hey, you don't think we're shitting you, do you? We're the guys who understand these markets. I mean, look at the kind of money we've made so far. Ahh, what do you rubes without TVs know about fair market value anyway?

I wonder if someone has dubbed this "the new economics."

tvoh said...

How silly of me. Again, I've been leapfrogged, just as I thought I was getting the concept.