Re:Mt. Gox Finds 200,000 Missing Bitcoins
by pessimizer on Friday March 21, 2014 @12:06PM
(#7443060)
>Except that taken as a whole, the bailout money was already been paid back in full, with interest over 2 years ago.
This sounds very truthy, but there was no market rate on the interest on loans to insolvent banks that was less than infinity%. The reason the government loaned them money was because they were completely uncreditworthy, and at those rates, they could have (and did) just invest the money in treasuries and take the favorable difference in the interest rate as a gift.
Simultaneously, we started a massive program of buying all of their shit debt at par.
This sounds very truthy, but there was no market rate on the interest on loans to insolvent banks that was less than infinity%. The reason the government loaned them money was because they were completely uncreditworthy, and at those rates, they could have (and did) just invest the money in treasuries and take the favorable difference in the interest rate as a gift.
Simultaneously, we started a massive program of buying all of their shit debt at par.