U.S. 'Rescue' Averted Financial Collapse: Treasury

U.S. 'Rescue' Averted Financial Collapse: Treasury

rawstory.com

Massive rescue efforts by the US government and central bank in recent months helped avert a "financial collapse" and are working to stabilize the economy, a Treasury report said Wednesday.

The Treasury report to a congressional panel overseeing the 700-billion-dollar rescue plan passed in early October said the extraordinary actions probably averted deeper problems.

"Treasury, working with the Federal Reserve, the FDIC (Federal Deposit Insurance Corp.) and other regulators, has taken the necessary steps to prevent a financial collapse," the report said.

(visit the link for the full news article)

Oh...Whew...I can breathe a lot easier now, knowing that Joe CEO's billion dollar bonus with my tax-dollars has saved the economy.

All those "going out of business" signs must be illusions that I'm seeing, TPTB have the situation under control. I can go back to sleep like a good little sheeple and keep toiling away for the next 30 years to pay back this "rescue".

If I still have a job. But I should! The bail-out has worked according to these people!

Thank you for that tasty waterboarding of kool-aid, ruling class masters. I know you have me and my fellow peons best interests in mind.

rawstory.com
(visit the link for the full news article)

I'm glad to see that the crap is still coming out of treasury's mouth in 2009..
What a joke ..all i can do is shake my head

I am still trying to sell my "swamp land in Florida",,,any takers?

How could the "Bail-out" be declared a success already? It took a year for them to tell us in December 2008 that we have been in a recession since December 2007. (I knew it, instinctively, in March of 2008).

Since only half of the funds have been disbursed - with no public reckoning of where the funds went or how they were used. The rate of housing foreclosure is still high with predictions of another avalanch of foreclosures by the 2nd qtr of 2009.

Small business owners who depend of expanded lines of credit to cover slump times have already been notified that the rules have changed and they might not be eligible for additional funding. We can expect to see an increase in failures of small, owner-operated businesses during the next 6 months. The banks are not releasing additional money into the credit market. It appears that they have become very cautious or have been instructed not to be too generous with new loans or renegotiating existing loans, in spite of what we heard when the "bail-out" was being (briefly) debated.

I tried exchanging 2,000 euros into US dollars today. The bank officials interrogated me as if I was a suspect in some terrorist plot. I don't know what I did wrong; in the past, it was fairly easy to convert currency. It appears that the entire financial network, from the upper levels of Wall Street down to neighborhood bank branches, is becoming very paranoid.
Have we, the people, become the enemy?

more propaganda. More BS. Everything is tanking and no banks are giving loans...because they want to hoard the money to back up there assets if/when it gets really nasty...then they have a nice stash for themselves.

Just feeding the beast is all they do. How the government operates reminds me of the Art of War by Sun Tzu...excellent book by the way.

You know, if the treasury can create money out of thin air as their doing, then they can at least break me off with a few gs

This is just the report before the report that tells you the rescue money didn't work. It is all just an illusion to make people feel good. Sad to see that the best the Treasury could come up with is probably averted deeper problems. Probably is a very weak word to use. Either it did or it didn't.

reply to post by cenpuppie


Indeed. Only this war isn't a physical war, it's a financial one. And it is the ruling class waging war upon the poor and middle classes furiously. And with the help of our completely corrupt gov, they have all checkmated us, and will continue to do so. I just read where the MEDIA is now asking for a bail-out, along with the steel industry. This robbery of the tax base won't end until the entire tax-base collapses into poverty.

But that's not stopping them from continuing to belch out these types of propaganda pieces to keep us all complacent and naive.

Nothing to see here. Go on about your business as normal. Pay no attention to what your seeing and only obey what the masters tell you. Their is lots of food at the market. Jobs are plentiful. We must aid Israel, India and any other foreign ally in their crusade terrorism. War is peace. Obey OPbey Ohey oh S(censored)

The world has gone to pot... Thanks for nothing masters.

[edit on 2-1-2009 by titorite]

I don't see how anyone can tell whether the bailout worked or didn't work in a few short months. Even if it did do what it was supposed to do, nobody can expect a magic fix for the economy. It's obvious to me that the big bailout was to rescue Wall Street, not Main Street anyway. There needs to be more relief of the type given to the automakers. There is still a huge chunk of the bailout still unspent. I hope Obama will put it to good use.

There will be hard times ahead no matter what Treasury does.

They don't even know what happened to the money, and won't report it.

They haven't prevented a financial collapse, all they did was delay it at best. This is probably propaganda to keep Paulson out of trouble.

Keep wizzing on me and calling it rain please....

Well it did avert financial collapse so Paulson wasnt lying he is indeed telling the truth. The only problem is he didnt tell you it only averted collapse for the people in the good old boy network. The lemmings get nothing but a trip over a cliff. These criminals in office crack me up. What cracks me up even more is we as a country sit back and take it. Much less was done to the colonialists to start 1776. Freedom isnt free that is correct but no one here in America is willing to make the sacrifice. That is why America will not exist as we know it in 10 years.

I am glad the the job cuts that my company and others are going through is a sign that the economy is stabilizing.

Job losses are good right? Less 401k's to match. Less insurance to pay. If people can't make their mortgage payment, that stimulates the economy right? One more house going cheap.

All we need is a hand basket.

Perhaps it's just their way of telling us they have finished paying off whatever monster demanded the capital, i.e. the stage is now 'set'.

If it weren't for the fact that I expect all information released by TPTB to be lies, I would say this is another 'arrogant' display of the elite, ready to rewrite history, before we even get there.

[edit on 2-1-2009 by Maxmars]