Government Bailout Tally tops 900 Billion!!!

Government Bailout Tally tops 900 Billion!!!

www.reuters.com

(Reuters) - The U.S. Federal Reserve stepped in to rescue insurance giant American International Group from bankruptcy with an $85 billion loan on Tuesday, the latest in a series of bailouts and loans for the financial and housing sectors.

The action brings the total tab for government rescues and special loan facilities this year to more than $900 billion.

Following are details of actions and amounts.

(visit the link for the full news article)

Any idea on how the Government is going to pay us back?

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

Originally posted by angelonmyshoulder


Any idea on how the Government is going to pay us back?

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

Pay us back?

We should be ever thankful for the life the government gives to us. We wouldn't be anything other than pond scum if it wasn't for the ever loving hand of our omnipotent government.

THANK YOU OHHHHH THANK YOU!!!!

I beginning my day tomorrow by bending over and walking backwards everywhere I go.

Unbelievable. :shk:

Originally posted by angelonmyshoulder
Any idea on how the Government is going to pay us back?

Going bankrupt would be a start.

They're making a mockery of the fiat money, free market system.

[edit on 17-9-2008 by In nothing we trust]

The Major is amused; only a bureaucratic genuflection such as this could cause the civilian population pine for the simpler, less costly days of Iraq War expenditures. The Major would just like the NSN and nomenclature for the parachutes that the executives are issued. The Major's T-10 doesn't have the same sheen.

Dismissed.

just to put this in a bit more perspective.

Our government provided 16.7 billion dollars over the period of 1 year to help victims of Katrina...

www.dhs.gov...

but we managed to loan AIG 85 Billion (+ the 20 Billion they borrowed over the weekend) in 24 hours.

reply to post by angelonmyshoulder


Star and Flag.

Dang. There was a video that described perfectly how they just borrow the "fiat" money and screw with federal reserve that way by giving out loans. Scary : I am going to try and find that video. Maybe you have seen it. Kind of 80's looking on youtube I think.

I hope we do not need to pay that money back...

reply to post by Major Discrepancy


Any relation to the "Kernel" member on ATS?

Part one, two and three.

my guess, and it is only that, forced labor camps and more war.

ignorance is to blame here.


the blame falls not only on the liars and deceivers, but also each and every citizen for allowing this to happen. The blame lies in all of our hands.

America has to wake up or its back to serious slavery.

reply to post by iiinvision


I would definitely have to agree that many Americans could have made wiser choices with regards to credit cards and using homes as ATM's - however, those are our individual choices and therefore our individual responsibility.

When all the homes were being foreclosed upon (many of which were flexible rate very unconventional type loans made by irresponsible banks) and there was such a cry for help, for a break, anything the government could do...much of the sentiment was we can't bail out these irresponsible people. So why do we have to bail out the irresponsible corporations?

Originally posted by angelonmyshoulder
When all the homes were being foreclosed upon ...

Are currently being not were. The foreclosure rate is currently increasing.

[edit on 17-9-2008 by In nothing we trust]

reply to post by In nothing we trust


Unfortunately, yes you are right. Perhaps it was wishful hoping on my part. - It is just so sad to me that so many people just don't seem to understand the severity of this chain of events when the information is there for everyone to see.

I imagine that 900 billion will look really good for those balance sheets

www.spiegel.de...

Officials with the International Monetary Fund (IMF) have informed Bernanke about a plan that would have been unheard-of in the past: a general examination of the US financial system. The IMF's board of directors has ruled that a so-called Financial Sector Assessment Program (FSAP) is to be carried out in the United States. It is nothing less than an X-ray of the entire US financial system.

I don't think this will shock anyone:

For seven years, US President George W. Bush refused to allow the IMF to conduct its assessment. Even now, he has only given the IMF board his consent under one important condition. The review can begin in Bush's last year in office, but it may not be completed until he has left the White House.

Mod Edit: External quote tags added. Please see Site Tag For Quoting External Sources. Thank you - Jak

[edit on 17/9/08 by JAK]

And still no money for Education or Health Care. Socialism for the rich and Free-Market Capitalism for the poor and middle class. I guess we're not all created equal after all...

Originally posted by kosmicjack
And still no money for Education or Health Care.

Can't afford it now, we're bankrupt. It's back to basic capitalism, everyone for themsleves including the rich.

if insurance is something you "have" to have if you own a car or a house etc, isn't it really a tax?

if it's a tax, then it is a government thing - not private for profit

What I wonder is if we can elect ourselves a President, who decides to start up the Treasury department again, and start printing U.S. gov notes, and tells the fed reserve that they are now on their own. All tax dollars from now on will go to support the new fed notes. Honor credit unions, and allow their depositors to receive new U.S. gov currency in exchange for Fed Res holdings, and bank customers up to a certain point, and just start over from scratch.

The Fed Res got what it wanted when the neocons, with their contract on America, changed the rules governing banks, leading up to this fiasco. The Fed Res should have to bail its own behind out using those free market principles.

The real sad thing is that this financial crisis has yet to bottom out. It is going to coninue to get worse. The worlds financial community all has its hands in this demise of world wide markets. You can't keep shifting labor to cheaper markets, and propping up demand with debt, as has been the way the worlds economy has been working, with the vast run up of debt in the U.S. to keep consuming goods made cheaply in foriegn countries. The only thing these bailouts are doing is shifting responsibility for debt. WE all vote ourselves big tax breaks, and see who winds up paying this tab. AS they found out in the thirties, you can't get blood from a turnip.

reply to post by spiritgirl


That has been my opinion for quite a while now. If you want to get a loan, you must have insurance, is no different than, if you particiapte in the market system, you have to pay taxes. When government started requiring insurance in order to transport ones self in ones own private vehicle, then it really became a tax, off of which corporations were allowed to make a profit.

reply to post by angelonmyshoulder


Angel i agree but just watch some TV and you will see that you are just slightly encouraged to use your credit card. I like the Visa ads where life is a party until someone goes to pay with a check. The party stops everyone looks at the poor sole thats using a check, they realize that they are the proverbial turd in the punch bowl and quickly whip out the visa and the party is back on. Very cunning commercials to encourage you to use credit and you know that a definite % of our populace fall for this garbage.