Comments for Ore and More http://benjamincox.com The blog and website of Benjamin Cox and Associates Fri, 26 Sep 2008 00:47:38 +0000 hourly 1 http://wordpress.com/ Comment on My solution to the financial crisis by Joseph Cox http://benjamincox.com/2008/09/25/my-solution-to-the-financial-crisis/#comment-315 Fri, 26 Sep 2008 00:47:38 +0000 http://oreandmore.wordpress.com/?p=345#comment-315 One problem that isn’t solved is that banks were/are being *forced* out of these toxic instruments by rules on mark-to-market.

When the market dried up, the mark-to-market went to zero even though fair value wasn’t close to zero. These rules killed balance sheets. In the 80s S&L crises they would have destroyed most major banks. They are bad rules.

Because of these rules, almost any bailout, including the bailout being presented, will represent a massive return for the federal government. They will make trillions. All because they aren’t subject to the same accounting rules.

It is great for taxpayers, terrible for private enterprise.

I prefer your solution, but mark-to-market rules should also be adjusted.

]]> Comment on CSN’s mine is up for sale by Alex http://benjamincox.com/2008/06/23/csns-mine-is-up-for-sale/#comment-230 Tue, 12 Aug 2008 11:45:40 +0000 http://oreandmore.wordpress.com/?p=74#comment-230 I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you down the road!

]]> Comment on The threat of substitute products (Porter’s Five Forces) by How to value a project, the inputs « Ore and More http://benjamincox.com/2008/05/02/the-threat-of-substitute-products-porters-five-forces/#comment-224 Fri, 08 Aug 2008 01:42:09 +0000 http://oreandmore.wordpress.com/?p=24#comment-224 [...] such thing where people start to figure out how to live without it. I have written in the past of substitution of copper for aluminum in wiring. I expect at $3 and more per pound, thrifting has to continue. The question is, just how much can [...]

]]> Comment on Just trade bad paper for good paper by Joseph Cox http://benjamincox.com/2008/07/25/just-trade-bad-paper-for-good-paper/#comment-215 Fri, 25 Jul 2008 15:24:07 +0000 http://oreandmore.wordpress.com/?p=146#comment-215 A lot of people with finance knowledge screwed up here.

]]> Comment on Basic rule of law needed in Russia by Joseph Cox http://benjamincox.com/2008/07/24/basic-rule-of-law-needed-in-russia/#comment-214 Thu, 24 Jul 2008 17:08:50 +0000 http://oreandmore.wordpress.com/?p=144#comment-214 I love the low-key reference to Safra:
“His company, Hermitage Capital, was first bankrolled by Edmond J. Safra, the billionaire founder of Republic National Bank in New York. Mr. Browder said Mr. Safra, who died in 1999, taught him not to shy away from kicking up a scandal to protect his interests.”

Wasn’t Safra assassinated?

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