Billions more needed for financial rescue

WASHINGTON – The Obama administration is developing proposals to help rescue the banking system that could cost taxpayers hundreds of billions of dollars beyond the $700 billion bailout Congress already has approved.

The International Monetary Fund wrote in a report Wednesday that losses from banks in the U.S. and Europe already have topped $1 trillion and could reach $2.2 trillion. At that rate, the banks will require "at least half a trillion dollars" to remain solvent, the report says.

news.yahoo.com...

It looks like round 3 of the bailout/stimulus spending extravaganza is on the way and round 2 hasn't even ended yet.

I wonder what the final tally on this gem will be. Another 500 billion to remain solvent? That's great news!

I wonder what else they have in the works. How much of our income are we going to be forced to pay in taxes when it's all over?

Why don't they give us 500 billion dollars so WE can stay solvent!

They care more about the banks and corporations then they do about our own damn people. Well as long as the subhuman wealthy a-holes stay rich then everything will be just fine. BAH! None of this makes any sense at all!

I cant believe how the government is blatantly showing us over and over again who really runs the show and the majority of America and the rest of the world for that matter, are still oblivious. Everyone is stuck in lala-land hoping Obama fixes all our problems when in reality he has no control of this.

Does anyone even take the time to think about what our government is doing to "try" and fix this problem. It's insane!

Either everyone in America is either completely retarded or we're all just waiting for someone to take charge and organize us against our pathetic politicians. I simply cannot believe our congress is actually as stupid as they're acting, there HAS to be something more to this.

When most of America finally steps up and says NO!! and our leaders still say yes, it should be apparent TO EVERYONE something shady is occurring over there.

[edit on 1/29/2009 by PlausibleDeniability]

Its called legalized robery of the taxpayer, all worded up nice and fancy so that it sounds like their hand that slips into your back pocket to take the money is legit and will help put more back into your back pocket.

All the while, they are patting your behind and saying "there there now..see that didnt hurt..did it"..and smile all the way to their Swiss bank accounts.




Cheers!!!!