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Can you say..."Re-distribution of world wealth?"
Treasury seeks $100 billion to aid ailing nations
Geithner pledges fresh help for IMF, will ask Europe to boost stimulus
WASHINGTON - Treasury Secretary Timothy F. Geithner yesterday unveiled a sweeping plan that calls on the United States and other nations to offer billions more to bail out economies in crisis and prods a reluctant Europe to prop up the reeling world economy with more aggressive government spending.
But the campaign is triggering controversy on both sides of the Atlantic. In Europe, some officials doubt the wisdom of falling deeply into debt to create jobs and halt the plunge in consumer demand, as the United States is doing. On Capitol Hill, members of Congress have grown wary of approving still more money.
Geithner said the administration will ask Congress to make $100 billion more available — nearly doubling the current U.S. commitment — to the International Monetary Fund to aid struggling nations. U.S. lawmakers said yesterday that they are already bracing for the administration to request hundreds of billions of dollars in more rescue funds for U.S. financial firms, and possibly a second massive economic stimulus package as well.
You have to understand that the Treasury Department Secretary is the Puppet of the Federal Reserve banking cartel they cater to the global elite banking system.
Is not reason why he will be asking for the bail out of emerging economies because as we know the global elite wealth depend on them as they are the last investment projects they has taken.
Now that this emerging economies are losing money due to the global Crisis so the money generated is drying out.
This should not be a surprise at all.
The only problem is that the European nations already said that they will not invest anymore money into any more stimulus at all.
So is American the generous thanks to the generosity of the corrupted federal Reserve to come out with another stimulus just to satisfy the global elites that they serve?
How much more we the people will take until we brake the power of that mobster call Federal Reserve?
Originally posted by marg6043
reply to post by irishchic
You are kidding me right, the SEC needs bail out money? well this the tip of the iceberg.
BTW in related news just to let you people know madoff decided that rather will keep his mouth shut than singing like a bird.
It seems that the conspiracy is that he rather stays in jail than see his family commit suicide in the near future or finding themselves in a very nasty ultimate death.
I can only imagine the type of people that he is protecting.
The markets crocks will be breathing easy now and the markets should to nicely today with this news.
Unless he qualifies for a medical exemption, Madoff will have to take a job in prison that will pay anywhere from 12 cents to 40 cents an hour, Levine said. Offering inmates help with legal or financial needs might give Madoff a certain “diplomatic immunity,” said Levine, who said he acted as a jailhouse lawyer for other convicts while behind bars.
In Los Angeles County, cities are buying federal stimulus funds from each other at deep discounts, turning what was supposed to be a targeted infusion of cash into a huge auction.
La Habra Heights, a city of 6,000, has sold its $500,000 in federal funds to the city of Westlake Village for $310,000 cash. Irwindale, population 1,500, also sold its $500,000 to Westlake Village, for $325,000 cash.
The city of Rolling Hills, population 1,900, sold its $500,000 share to the city of Rancho Palos Verdes for $305,000 cash. The city of Avalon has reached an agreement to swap its $500,000 with L.A. County.