wiegie Posted November 11, 2008 Share Posted November 11, 2008 http://www.federalreserve.gov/newsevents/p...s/20081110a.htm So, apparently now the Fed is going to start making loans to credit card companies who really are not introducing systematic risk into the economy. this is really starting to get ridiculous Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted November 11, 2008 Share Posted November 11, 2008 The exiting legacy of the best damn president you ever saw. Quote Link to comment Share on other sites More sharing options...
Duchess Jack Posted November 12, 2008 Share Posted November 12, 2008 I heard yesterday that financial companies are hiring lobiest by the boatloads to get their share of the pie. Lobiests are exactly where this money should be going Quote Link to comment Share on other sites More sharing options...
TimC Posted November 12, 2008 Share Posted November 12, 2008 We have morans running this bailout. And the next batch of morans don't appear to be much better. Throwing money at the problem doesn't address the problem. Quote Link to comment Share on other sites More sharing options...
nuke'em ttg Posted November 12, 2008 Share Posted November 12, 2008 at this point can't we just Nuke someone Quote Link to comment Share on other sites More sharing options...
WaterMan Posted November 12, 2008 Share Posted November 12, 2008 I love these handouts to CEOs under Bush. Can't wait to see my fair share under a Democratic Prez. Quote Link to comment Share on other sites More sharing options...
H8tank Posted November 12, 2008 Share Posted November 12, 2008 How is this Bush's issue? You people voted for change in 2006, congress runs the purse strings, you got what you wanted. Now suck it and pay your taxes whiney bitsches. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted November 12, 2008 Share Posted November 12, 2008 How is this Bush's issue? You people voted for change in 2006, congress runs the purse strings, you got what you wanted. Now suck it and pay your taxes whiney bitsches. "U.S. President George W. Bush, saying "our entire economy is in danger," urged Congress to approve his administration's $700 billion bailout proposal." http://www.cnn.com/2008/POLITICS/09/24/bus...lout/index.html Quote Link to comment Share on other sites More sharing options...
wiegie Posted November 12, 2008 Author Share Posted November 12, 2008 "U.S. President George W. Bush, saying "our entire economy is in danger,"This was 100% true. Quote Link to comment Share on other sites More sharing options...
Big Country Posted November 12, 2008 Share Posted November 12, 2008 "U.S. President George W. Bush, saying "our entire economy is in danger," This was 100% true. The part about the economy or the fact that W said that? Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted November 12, 2008 Share Posted November 12, 2008 "U.S. President George W. Bush, saying "our entire economy is in danger," urged Congress to approve his administration's $700 billion bailout proposal." http://www.cnn.com/2008/POLITICS/09/24/bus...lout/index.html right, so they passed a bill we were told would be used to buy up some of these mortgage backed securities in order to inject some liquidity into the financial system. all this pressure to expand it into other crap (like the part where GM gets a big fat handout because their business absolutely sucks and they can't make cars anyone wants to buy) is being driven by the hope and change brigade. Quote Link to comment Share on other sites More sharing options...
AtomicCEO Posted November 12, 2008 Share Posted November 12, 2008 right, so they passed a bill we were told would be used to buy up some of these mortgage backed securities in order to inject some liquidity into the financial system. all this pressure to expand it into other crap (like the part where GM gets a big fat handout because their business absolutely sucks and they can't make cars anyone wants to buy) is being driven by the hope and change brigade. I haven't read the articles about the outraged republican minority... united against this terrible idea. Why is that? Quote Link to comment Share on other sites More sharing options...
Azazello1313 Posted November 12, 2008 Share Posted November 12, 2008 I haven't read the articles about the outraged republican minority... united against this terrible idea. we can only hope it comes. so far, bush/paulson are dragging their feet, saying the legislation as written doesn't allow for these wide-ranging bailouts. hopefully they hold that ground and the dems have to either wait for obama to be sworn in, or pass new legislation. that is when the republican minority will either coalesce against this insanity, or roll over and allow themselves to get f8cked. don't know which it will be. a guy like mitch mcconnell has major auto industry special interest money behind him. he will be on the spot. Quote Link to comment Share on other sites More sharing options...
westvirginia Posted November 12, 2008 Share Posted November 12, 2008 I haven't read the articles about the outraged republican minority... united against this terrible idea. Why is that? Because they are no better? Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted November 12, 2008 Share Posted November 12, 2008 right, so they passed a bill we were told would be used to buy up some of these mortgage backed securities in order to inject some liquidity into the financial system. As of today, the Fed is not buying these securities - they are buying bank stock instead. I hope that poor wooden arrow company gets their fair share. Quote Link to comment Share on other sites More sharing options...
westvirginia Posted November 13, 2008 Share Posted November 13, 2008 As of today, the Fed is not buying these securities - they are buying bank stock instead. I hope that poor wooden arrow company gets their fair share. Dude, that made me spit coke everywhere... Quote Link to comment Share on other sites More sharing options...
wiegie Posted November 13, 2008 Author Share Posted November 13, 2008 As of today, the Fed is not buying these securities - they are buying bank stock instead. Well, they actually never bought any bad securities... pretty much as soon as the bill passed they started using the funds to buy equity in the banks (and now Paulson is just saying that they are definitely not going to buy up the bad securities). What is funny is that from the very beginning there were economists who were calling on the Fed to follow the "Swedish Model" and use the funds to buy equity in the banks, but Paulson said "That is what you do when you have failure." So, by Paulson's logic, I guess what we can conclude is that we now have total failure. Quote Link to comment Share on other sites More sharing options...
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