$85 million as a bail-out?

[Psychology]

Politicians can never speak about people taking welfare again. And forgive my political and economic ignorance, but with the country in massive debt and crisis, where'd they get that much money anyway?

 

[Friday on my mind]

Politicians can never speak about people taking welfare again. And forgive my political and economic ignorance, but with the country in massive debt and crisis, where'd they get that much money anyway?

They borrow it from China and others or if need be just print it.:eek:

 

[Artimus]

You need to substitute the 'm' with a 'b'.

I wonder how long the Fed can keep buying up banks?

 

[Psychology]

You need to substitute the 'm' with a 'b'.

I wonder how long the Fed can keep buying up banks?

Holy shit

 

[No_Man]

Agreed. Its utter bullshit and a horrible move. George Bush is beginning to make FDR look like a robber baron.

 

[Torre82]

::waves a little flag in desperation against the repubs::

Vote wisely this time. :sigh:

::thinks 'do I want to go on a rampage killing 44% of the voters in this country?'::

 

[Friday on my mind]

GWB = 21st century version of Herbert Hoover

 

[LBP 76]

Agreed. Its utter bullshit and a horrible move. George Bush is beginning to make FDR look like a robber baron.

The 'Fed' bailed out AIG. And the Fed acts almost completely independent (theoretically) of both Congress and the President.

This move wasen't George W's fault...for once.

 

[Friday on my mind]

The 'Fed' bailed out AIG. And the Fed acts almost completely independent (theoretically) of both Congress and the President.

This move wasen't George W's fault...for once.

Yeah they are independant but GWB was kept advised and it was said if he had voiced opposition to it it would have not happened not that I think it was wrong to do it,they have to try to ward off a complete collapse of the financial system and economy.The real problem was how we got to the point that this could occur.Lack of supervision and regulation of these institutions.

 

[snoopy63]

Friday[/URL][/B] on my mind, post: 2509845, member: 44516"]GWB = 21st century version of Herbert Hoover

Funny, the same thing crossed my mind!

 

[AFA]

I only print what I need. I'm not selfish, just a true repub.

And just think, that new car that was un-affordable at $700 in 1955 would be no problem to buy today with your credit card on a month working minimum wage at Walmart!

Trickle down economics?

Wake up!

 

[LBP 76]

Yeah they are independant but GWB was kept advised and it was said if he had voiced opposition to it it would have not happened not that I think it was wrong to do it,they have to try to ward off a complete collapse of the financial system and economy.The real problem was how we got to the point that this could occur.Lack of supervision and regulation of these institutions.

Imo, if Bush had 3 years left, I'd probably agree with you.
But a lame duck Prez with a 28% approval rating, a hostile Congress and with under 4 months to go? I honestly don't think they give a crap what he says. They'll be here long after he is gone.

 

[om3ga]

It's not over yet...there is talk about Morgan Stanley looking at a deal with Wachovia (Morgan shares took a pounding)....

Meanwhile over here, Lloyds TSB is to merge with HBOS, creating a banking giant which will hold close to a third of the UK's savings and mortgage market. The deal should calm uncertainty about the strength of Halifax-Bank of Scotland after a run on its shares. The British Prime Minister actually facilitated the merger, said to be worth between £12 - 15bn

And in Russia, trading on the country's main stock exchanges was halted after steep falls this week.

Two quotes sum up this week for me:

That's it man, game over man, game over! What the fuck are we gonna do now? What are we gonna do?

Pvt. Hudson from Aliens (1986)

Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world....

William Butler Yeats, "The Second Coming"

 

[LBP 76]

1 quote that sums up this week for me...

'Sell, sell, sell.'

 

[Funkwerkz]

Forget anything about inflation, let's print money.

$ 85 billion isn't that big amount but a great burden to the taxpayers again.