No, this is a proposed SECOND bail out, cough, i mean recovery package, that is being pushed.
Ridiculous right!
I think we need to chill the hell out. We cant jsut keep showing money into this. I wish they could just let the market work out its fever for a while
before tryng to manipulate it.
More tax dollars out the window?, page 1
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Topic started on 22-10-2008 @ 07:43 AM by GoalPoster
Generally I go through the business news every morning to keep abreast of things predominantly in conjunction with my job in the automotive sector.
Was reading . . . this . . .
No biggie, right.
But in the middle of it, I see this . . .
My question . . . is this in excess of what's already been promised?
Doing a rough calculation on what they've promised so far, it far exceeds the initial $700 or so billion.
Where the hell is THIS money supposed to come from. Seems almost daily any more that the fed announces another couple hundred billion dollars or so for the 'economy'.
Bizzare.
Was reading . . . this . . .
No biggie, right.
But in the middle of it, I see this . . .
Yesterday the Fed announced plans to buy as much as $540 billion short-term debt from money market funds, facing severe redemption pressures.
My question . . . is this in excess of what's already been promised?
Doing a rough calculation on what they've promised so far, it far exceeds the initial $700 or so billion.
Where the hell is THIS money supposed to come from. Seems almost daily any more that the fed announces another couple hundred billion dollars or so for the 'economy'.
Bizzare.
reply posted on 22-10-2008 @ 08:16 AM by GoalPoster
Here's how it came about . . .
New York Times
gotta love this . . .
New York Times
gotta love this . . .
The answer came from an industry group led by JPMorgan Chase, according to individuals close to the situation who also were not authorized to discuss it publicly. The bank, along with a group of several major money-market investors, approached the Fed earlier this month with a plan to set up privately run entities that could start purchasing short-term debt from the funds.
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