700 BILLION DOLLARS!
Submitted by Malbert23 on Sat, 09/20/2008 - 10:32
The Bush administration is requesting virtually unfettered authority for the Treasury to buy up to mortgage-related assets. No American should ever trust Governmnet with their tax money ever again.
http://www.msnbc.msn.com/id/26803347/
http://www.nytimes.com/2008/09/21/business/21cong.html?_r=1&...
»
Investment is the Key
Thanks for sharing this topic! The unprecedented degree of global economic integration today implies that even small measures could inflict lasting harm on globalization with serious effects on recovery and future prosperity. So as a solution to this, people should make good investment. Investing is a good idea these days. Investing is really the key to retirement because no companies ever offer pension plans anymore and it isn't like you can rely on Social Security. Building an investment portfolio is something you want to start sooner rather than later. It might be worth getting a payday loan to start one. If you manage your investments carefully, you could even possibly retire early, and live off the interest. It's the way Warren Buffet has made billions, and it is the way to build a nest egg for your golden years, so you really can't afford to not start investing.
Wow. This has got to be one
Wow. This has got to be one of the most obvious pieces of evidence regarding corruption of government and the controlled media. How can anyone dispel this ridiculously clear motive for career assassination? This will almost surely become my top weapon in convincing people of how controlled our media truly is, and how powerful a tool it has become. Thank you for this post.
This was a reply to
This was a reply to DaddyWarBucks' post regarding Governor Spitzer.
I Like to think of it as
seven hundred thousand million. Makes you realize how huge a number that is. And a trillion is a thousand billion. According to IOUSA---we're over fifty three thousand billion dollars in debt. And you were worried about one hundred thousand. . .
Explore Orthodox Christianity
700 billion is only the tip[
700 billion is only the tip[ of the iceberg! try double or triple that!
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Those who stole all the money are the ones who should pay
There is a very small percentage of people who at this point have all the money. they are basically the ones who embezzled it from the American people and they are the ones whose assets should be liquidated to pay off the debt.
an excerpt from John Mauldin
"For such a price, we had better get a new regulatory scheme which requires reduced leverage. Want to get really mad? Up until 2003, all investment banks were allowed only 12 to 1 leverage. Then in 2004, the SEC basically gave five banks (and only five banks) the ability to lever up 30 or even 40 to 1. Bet you can guess the five banks. Bear, Lehman, Merrill, Morgan and Goldman. Three down."
A smoking gun???
I think we as citizens need to be clear about the motivations for that action, who was ultimately responsible for it, and to see to it that that person takes responsibility for it...because this may be a key reason that this subprime crisis became armageddon. The SEC consists of five presidentially-appointed Commissioners, with staggered five-year terms. My instinct is that this decision, becuz of its apparently radical departure from prior practice, was taken at the highest levels, ABOVE THE SEC. On its face, the decision seems to be reckless for a financially illiterate person, but nefarious for anyone that knew better.
We listen to alot of dramatic bizarre conspiracy theories around here...maybe this is a more prosaic one that can actually be validated. Who knows? Firstly, we need to know why they did this and see if it makes any sense, and we need to know it now.
Anybody here have any insight into this issue? Thanks.
Thanks for sharing this
This is crazy kind of investing, just crZY. and now we're bailing them out.... and we should be glad to do so like it's some sort of public duty, our fair share of the guilt.... The sociopaths who are running this country are laughing all the way to the bank.
A new pair of glasses
"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
"GINO" = Government In Name Only
Floyd Norris, longish quote
"The SEC assumed that Bear, or any other investment bank, could always borrow against securities it owned. It assumed that lenders would put up at least 93 percent of the value of those securities, and as much as 97 percent for the safer ones.
In a working paper for the National Bureau of Economic Analysis, prepared for a conference to be held next week at Cambridge University, Kane placed some of the blame for the current credit crisis on international regulatory competition, in which national regulators, fearful of seeing business go overseas, dared not be too tough.
Instead, regulators from around the world agreed on common capital standards, the latest version of which is known as Basel II. That standard has loopholes that allowed banks to add lots of leverage, some of it pushed off balance sheets in ways that obscured the risks that remained and minimized the apparent need for capital. The job of determining the risk of various assets, and thus the amount of capital needed, was largely subcontracted to bond-rating agencies and to the banks themselves.
"On the grounds that they were helping innovative U.S. firms to compete effectively in global markets," Kane said, "federal supervisors refused to take on the political and practical challenge of establishing and maintaining their ability to see and to discipline complicated risk exposures."
If any big bank was going to have a lot of leverage, it was almost inevitable that all would. In good times, it is hard for a more conservative institution to stay competitive when its rivals use borrowing to magnify profits."
Looks like he tilts toward pressure from the Street to encourage the gov't to lay down and a snowball effect.
Could this have been anticipated? I say yes. Did the current administration think it was the govt's role to head it off...maybe not. Is putting people in charge of government who don't believe in government an accident waiting to happen? Sure. Does it need to cease? Yes.
Digg IT
http://digg.com/business_finance/Rescue_plan_for_financial_m...
moe water ; bail please
That is cheap compared to the 5 trillion fan & FRED bailout
says
9/19/2008 - Ron Paul Advisor Peter Schiff On AC 360
The MSM is parroting Ron Paul's economic policy...Tell me he didn't start a revolution!
http://www.youtube.com/watch?v=TIbD3BGoe5g
"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
"GINO" = Government In Name Only
This is where it all started
http://www.brasschecktv.com/page/291.html
It's one of the most amazing displays of journalistic incompetence and malpractice in recent memory.
The US news media failed to draw the obvious connection between the bizarre federal law enforcement investigation and leak campaign about the private life of New York Governor Spitzer and Spitzer's all out attack on the Bush administration for its collusion with predatory lenders.
While the international credit system grinds to a halt because of a superabundance of bad mortgage loans made in the US, the news media failed to cover the details of Spitzer's public charges against the White House.
Yet when salacious details were leaked about alleged details of Spitzer's private life, they took that information and made it the front page news for days.
To the 9/11 fiasco, the Iraq War, the travesty of the federal response to Hurricane Katrina, and the shredding of the US Constitution, we can now add a deliberate and reckless undermining of the credit and banking system of the US to the list of Bush administration "accomplishments."
No external enemy, or group of external enemies, could have done as much harm to the nation as this group has in less than eight years.
Hey, do you think it's a coincidence that a Bush was involved the last time the US banking industry fell into a black whole because of White House-facilitated fraud?
There's actually a lot of money to be made blowing up banks. Here's how Bush Sr. and his friends in the Mafia and CIA profited from it the last time:
"Committed To The Eradication Of Poverty Among Patriots"
"Those Who Strive For Excellence Refuse To Fear Mediocrity; They Eradicate It."
Zero Tolerance For Flamers
"GINO" = Government In Name Only
Thier
really is no cap....Ron Paul said it could be Trillions