Comments on: A Bridge To Nowhere http://norunnyeggs.com/2008/12/a-bridge-to-nowhere/ The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think. Mon, 15 Mar 2010 01:15:45 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: dad29 http://norunnyeggs.com/2008/12/a-bridge-to-nowhere/comment-page-1/#comment-36699 dad29 Tue, 09 Dec 2008 15:02:03 +0000 http://norunnyeggs.com/?p=4061#comment-36699 You may also recall several "bridge loans" which were made by Citi, Chase (and others). They were made to hedge funds to assist in purchases (of Chrysler, e.g.) and those bridge loans were meant to be repackaged into long-term bonds, then sold to the public. Heh. Those 'bridge loans' remained on the books of the banks b/c nobody would underwrite the l/t bonds. Thus, they became "pier loans." Bridge to nowhere, short pier... Just wish Congress would walk off that pier, instead of taking guns to OUR heads and making us do it... You may also recall several “bridge loans” which were made by Citi, Chase (and others). They were made to hedge funds to assist in purchases (of Chrysler, e.g.) and those bridge loans were meant to be repackaged into long-term bonds, then sold to the public.

Heh. Those ‘bridge loans’ remained on the books of the banks b/c nobody would underwrite the l/t bonds.

Thus, they became “pier loans.”

Bridge to nowhere, short pier…

Just wish Congress would walk off that pier, instead of taking guns to OUR heads and making us do it…

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