Government Bailout Tally tops 900 Billion!!!

The Federal Reserve is not the U.S government... it is a bank which prints its own $$$ its just gobbling everything up.

reply to post by loam


You are not the only one, is nothing but hard times ahead for what is left of America bread and butter the death of the middle class.

We are all the owners of almost half million dollar per individuals including our children and the unborn to the national debt.

When this present administration and the fed be over bailing out companies we will be so indebted that our government will force American women to become nothing but breeding cows to be able to split the national debt more.

[edit on 17-9-2008 by marg6043]

reply to post by dreamsnatcher


I agree they are everywhere, I especially like how the banks are targeting children with the Visa Gift Cards and the Visa Allowance Cards..

It makes it amusing that now they are running the "Feed The Pig" ads and the president elects are now calling for "sacrafice"

funny, i just got a call today from amex. i thought, oh no i forgot to pay my bill, but then i remembered i have no outstanding balance, turns out they were calling to ask if everything was ok since i haven't used my card in a long time, and if there was anything they could do to make their card my preferred method of payment. i politely told her to not take it personally and that i haven't used any credit card in more than a year. she sounded shocked and confused.

Originally posted by dreamsnatcher
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.

Financial crisis? What financial crisis? Not when we have the Republicans and other financial geniuses running the country and our corporations? Don't forget the tax and spend Democrats who would lead us to financial ruin! Tax cuts! That's the answer. More tax cuts are need, our surefire panacea. The unprecedented growth under Bill Clinton must have been a fluke. No! What am I saying? He must have planted the seed for our current situation. Blame the Democrats and Liberals, our universal whipping boys, our anti capitalist stooges!

reply to post by conwaylemmon


I cancelled a credit card and got the same response, I've never heard such helpful people..."how can we do better, what can we do to make you stay"...etc.

In my town there are 2 stores that do not accept cash...I would think that can't be legal as it is supposed to be legal tender (although we also have a store that accepts Pesos????)

After AIG rescue, Fed may find more at its door

"We're essentially continuing a system where profits are privatized and...losses socialized," Roubini said, adding that auto makers, airlines and other struggling businesses would no doubt be asking for government help too.

www.reuters.com...

U.S. regulators try to find WaMu buyer: report

www.reuters.com...

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

Unbelievable. :shk:

That would be a start, might as well

These idiots are going to run everything into the ground, start a nuclear war, declare martial law and kill off everybody. The conspiracy theories are coming true right before our eyes ... just waiting for the aliens to land next.

You know what I hear echoing in my head as I read all this?

From CNN, Monday, November 1, 2004.

"We are continuing this policy in bleeding America to the point of bankruptcy. Allah willing, and nothing is too great for Allah," bin Laden said in the transcript. He said the mujahedeen fighters did the same thing to the Soviet Union in Afghanistan in the 1980s, "using guerrilla warfare and the war of attrition to fight tyrannical superpowers." "We, alongside the mujahedeen, bled Russia for 10 years until it went bankrupt and was forced to withdraw in defeat," bin Laden said.

The total U.S. national debt is more than $7 trillion. The U.S. federal deficit was $413 billion in 2004, according to the Treasury Department.

"It is true that this shows that al Qaeda has gained, but on the other hand it shows that the Bush administration has also gained, something that anyone who looks at the size of the contracts acquired by the shady Bush administration-linked mega-corporations, like Halliburton and its kind, will be convinced.

"And it all shows that the real loser is you," he said. "It is the American people and their economy."

As for President Bush's Iraq policy, Bin Laden said, "the darkness of black gold blurred his vision and insight, and he gave priority to private interests over the public interests of America.

Bin Laden : Goal is to bankrupt U.S.

That day is rapidly approaching and the ultimate irony is that it will be brought about because of the USA's own corruption and greed. Bin Laden could never have hoped to pull off something this big.

If you put your head out your window and listen really closely, you can almost hear the laughter reverberating from a cave on the Afganistan/Pakistan border.

It's all so sad.

Ironic and sad.

reply to post by Nyteskye


Interesting that, 9/11 intention was to target US financial system, collapsed, we all brush that as just rhetoric.

I am afraid to say that you are right what they did so far has seceded beyond their dreams.

But also is other forces from within the US that has contributed to this economic mess.

Originally posted by kosmicjack
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...

I love it! Well said!

Has capitalism failed? the really worrying thing here is that a two-tier system has just been created, the bigger you are the less you will suffer as the government cant afford to let you fail, therefore giving big companies an unfair business advantage over the not so big.
I still find it funny that they lost money they pulled out of thin air and are replaceing it with the exact same thing, why not pretend like none of this has happened?

I've said it before, and I'll say it again: post 9/11, Bush kept telling us that the Islamist extremists "want to change our way of life", and guess who is going to see it through? Bush himself!

no no, it's much much more than that

See what Ron Paul has to say about it

What sank AIG was when Lehmann collapsed - analysts starting looking
at its books and found many of the same debt obligations which sunk
Lehmann were on AIG books, Only AIG had valued them at twice at
what Lehmann did. Touched off run against AIG - rating agencies
began to down grade its credit status. AIG had insured many of the
real estate bonds that banks were holding - if AIG defaulted on the
insurance banks would be in deep crap. Also AIG is big in workman
comp market - hundred of thousands of business depend on it for
workman comp. Business which contract with outside companies require
them to carry workman comp from insurers with credit rating of A- or
better. As AIG credit status was sinking below that level would have
invalidated thousands of policies forcing them to buy new insurance
policies. Chaos in economy would have been devastating

One can sit and b!tch about it and be idelogically pure, but reality would
have been worse if AIG went done tubes.

The 85 Billion is secured by assets of the company at interest rate that would make Mafia loan shark blush (over 11%) for 2 years.

"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"


This is truth in wonderful naked form. The Bush adminstration along with complicit republicans and democrats modified banking regulations that prohibited the actions that brought about this banking crisis.

This will get worse, and when it starts to get better the landscape will have less people making more money than before. It is a replay of the great depression, the consolidation of players that control larger slices of the Taxpayer funded financial system.

Its a brave new world, with wilfully ignorant taxpayers funding it.

I think it's interesting how they jump at the opportunity to bail out the wealthy bankers. In Fannie and Freddie the CEO's even got to take their, I believe it was somewhere around $15 million each bonus and run at tax payer expense. Now AIG! But do they even consider to bail out the homeowners who are in default? How about the small business owner impacted? What about consumers strapped in debt and unable to pay?

reply to post by loam


HAHAHA I am going to buy a brand new car and have a team of horses pull it around.

Originally posted by angelonmyshoulder
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]

what have they been hiding for seven years?

While the war in Iraq might have contributed to this problem in a small way, the vast majority of the blames lays in Wall Street greed. In many ways it is a typical business cycle, but banking policies in the housing bubble have made it far worse.

Many think the super rich will escape unscathed, but I don't. This crisis, combined with the decline of cheap good quality crude, I am hoping this crisis leads to the demise of the IC's, and a new cottage industries rises from the ashes.

With the internet and automation, it is becoming possible for a small business to mass produce good quality cheap goods, and market them world wide. Throw in wind power generation, solar power, bio-diesel, and we have the makings of small independent communities not tied to giant corporate entities. One can always hope.