tax and insurance?
Anyone know where this $ 750 Billion Dollars is coming from to prop up the Financial institutions?
I think I heard that some of it was coming from China and Russia?
Is there any financial institution with this amount of clout or is it a bail out organised by several co operative Countries and the IMF?
Greys....?. Tastes like Chicken!
GUSTATUS SIMILIS PULLUS. B2. 509th.
Hi Robert and Squiggle,
I think the american tax payer is to be robbed once more. Squiggle, thanks for the link. It says it all.
The worrying bit is the global fallout. I don't treasure the thought that my house will lose value because Wall St. got greedy once more. Bastards.
I wonder if Bush will open the White House to the new homeless? They're having a top laugh, aren't they?
If you need a drink, dudes, I'm there.
You guys did actually read it, right?
Says clear as day that it won't touch taxpayers.
If I didn't know better I might stay quiet at this point and watch the tumble weed roll down the windswept sandy street of my consciousness, twirling both guns and spitting old chewing beef into the gutter, perhaps hitting the mangy dog as it snuffles past on it's way to lunch at the rickety old church at the other end of town, where the lone bell clangs it's lonesome untethered tone and casts it on the wind accross death valley to rise with the moon upon the mountains yonder, calling the dead from boot hill to consider their evil ways once more, and for ever.
The banks won't raise the money. They are BASTARDS. And under instruction by the Bush administration. The 700 Billion dollars will come from the U.S.treasury and the tax payer will each donate 2,500 dollars extra spread over the next 10 years to redress the balance. It's going to cost the working men of the free world, roughly 5 dollars each per week for the next 10 years. Not to mention that shareholders and pensioners alike around the globe are watching their life savings dwindle in the wake of the panic on Wall St. The counters are starting to fall, inflation will make eating out less palatable and the cost of raw materials will slowly rise through the fucking roof.
I know thats not what it says. But between the lines it's obvious. I am an older person and have for many years now watched this type of activety grow with the seasons. Political mongering on this scale becomes bolder each year. This years harvest for the big boys is unusually big, however. They need this money for the Iran war. Yes, the one thats about to start. And there's a bid in for the oil in Venezuala, and El Presidente is having lunch at the Kremlin this week.
I suggested a link and two possible ideas. Yes I did read the article.
"The Paulson plan calls for the government to use tax dollars to buy up bad loans, including mortgages, and hang onto them, to provide greater liquidity for financial institutions.
But rebel Republicans instead drafted an alternative plan, calling for an expanded insurance system financed by banks to rescue individual home mortgages, so that taxpayers do not have to fund the bailout."
"However, Democrats and Republicans have expressed disquiet that so much taxpayers' money will go to private companies, blamed by many for triggering the meltdown."
Neither of these plans are concrete yet as they are in the DRAFT stage. In fact, the content of the plan is not yet available publicly. Robert asked for suggestions.
the problem with this alternative plan is such that the government (probably, based on their current track record) won't regulate this insurance system, allowing institutions to cause a nightmare for those with a bad mortgage - theoretically placing us back into the subprime bullshit again
Anyways, the banks will not need to raise money. They make their money by all the fees they get from their clients. Perhaps they'll raise the fees a bit to make more money but I do know they already make a killing with the current fees. You also need to realize that the US Treasury has a very very deep pocket and its fill with credit. Just like everything else, this $700B will snap onto the credit and will be taken care of at a later date. However, this money is meant to stabilize the current economy so that America does not fail like we did back in the 30s.
These politicians need to realize that the economy is still the piece of glass like it has always been since it started. So many cracks.... so many cracks. They think that it grows stronger, but still, it can falter just the same like a baseball being thrown into it.
It's just movies and theatre, a little drama, a novelette to while away the afternoon. Thats all. You should try it. Flex your imaginative writing muscles and give us something of yourself to read.
As to the reserve, your right. But they will want to replace it quick, like. Watch your pay slip.
I think they know it's a fragile system, but in spite of their worried expletives and plastering over the cracks, which I hear on the news this morning is failing(what can I say?), they will keep robbing people blind for ever.
Get elected, rob everyone. Get rich. Have fun. Make the odd war. Rob everyone again. Get richer still. Then get elected again.
If this was a novel, you wouldn't buy it, would you?
Well, if you were paying attention; the bailout was burnt to the ground. So no bailout.