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The best ePassporte replacement I have found: OKPAY -
It's ridiculous I agree.
Although to be fair, the $700 billion in TARP funds and the 1 trillion (I didn't read this particular story but I'm guessing it's for the bad bank idea?) are more like loans or asset purchases....and the taxpayer should get back most of their money..if not all of it plus interest.
That's different than outright spending, which the stimulus was.sig too big -
this seems simple.. im sure there is way more to it but
how much $ in bad assets (real estate related) do banks have? wouldn't it just be better if the government just absorbed all of real estate related bad debt (via a loan with some kind of interest) & let the banks get back to business - easing up on the credit crunch?
either way the government would have tangible assets (even though they aren't worth as much on paper as they were when picked up).... but shit if we're throwing trillions of dollars at banks why not fucking own something and require a slice off the top until the banks are paid in full
obviously i dont know the total $ of bad real estate debt but shit... wtf112.020.756Comment
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Let's see if President Barack Obama suceeds in pushing the economic stimulus bill through Congress.Send me an email: [email protected]Comment
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My bank in Holland got bailed-out twice for 30 Billion in total. The day after; they cut 7000 jobs (incl. my account manager) and raised banking costs (creditcard, statement, internet banking, etc.)
And like you say, it makes no difference for the public/consumers (paying in the end for all the shit that's happening).Comment
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I just dont get how this will all be paid back and is the US government printing money or is this coming from the purchase of US debt?"In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George OrwellComment
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Sorry to burst your bubble it will be over 9 trillion
http://www.bloomberg.com/apps/news?p...Kok&refer=home
I think we could have bought everyone single family's mortgage with the amount they are giving the banks.
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It's mostly being funded through Treasury Bonds right now though some speculate that the Fed may be printing up new money and discreeting using that to buy up the bonds people (e.g. China) are not buying on the open market thus keeping the low rates.
The US will not pay this money back unless there is a huge increase in taxes and/or a large devaluation of the dollar.
If Clinton had not repealed the Glass-Steagall Act we very well may not be in this mess at all......The best ePassporte replacement I have found: OKPAYComment
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obama ftwComment
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And people laughed at Ron Paul when he said it could be over 5-10 trillion.
We are being robbed at the fastest rate in history. Thank god for Keynesian economics and fiat money.
The 9.7 trillion and 1 trillion and 890 billion money is not included in this chart.
The spike is from Sept 2008 to current. BEFORE the market crashed. They knew it was coming, they were not going to tell you, then they planned on causing panic and stealing your money.
If you dont think the dollar and the us is fucked and that it can be saved with 1 trillion dollars you have your head in the sand.
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Once The Stimulus Package Passes Geither Will Ask For Another $1 Trillion+ For Banks!
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