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no government money to help any firm that ran into trouble next

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posted on Sep, 16 2008 @ 12:35 AM
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no government money to help any firm that ran into trouble next


www.washington post.com

The executives shared their views on a wide range of subjects. Several asked Paulson and Geithner whether there would be a broader government effort to address unfolding problems at Merrill Lynch, Washington Mutual and American International Group, among others, once Lehman's situation was resolved.

Paulson and Geithner stressed there would be no government money to help any firm that ran into trouble next.
(visit the link for the full news article)




posted on Sep, 16 2008 @ 12:35 AM
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I haven't seen this in black and white yet.

It looks like the fed is washing its hands aof any further bailouts. Which would include WAMU and AIG.

www.washington post.com
(visit the link for the full news article)



posted on Sep, 16 2008 @ 02:16 AM
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reply to post by Tuebor
 


This is actually very good news...For the Fed anyway. The Fed can't bail anyone out anymore because they don't have any money, and the fact that every time the Fed bails out a huge firm with lots of debt the only people benefiting are the Chinese, who buy HUGE amounts of our debt, and are happy to do it.

The government before Bear Stearns, and Fannie/Freddie, was 9 trillion in debt, now that figure is probably more like 14 trllion in debt, if you wish to account for how much debt Iraq has turned into, how much debt the bail-outs cost, and what is to come down the line.

WAMU will crash tomorrow. After that Morgan Stanley and JP Morgan Chase have to figure out how to stay afloat when they have nothing of value to use as leverage. This is going to get worse. We are in the very start of the not just the Great, but the Greatest Depression.



posted on Sep, 16 2008 @ 02:24 AM
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I take it that Detroit'll just have to make due.

We all better start learning Mandarin.




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