INSIGHT
“Every time that we try to lift a problem from our own shoulders, and shift that problem to the hands of the government, to the same extent we are sacrificing the liberties of our people.” —John F. Kennedy
That 750 Billion is being eaten up fast!...............
“The proposal could establish a sort of “bad bank,” according to the Washington Post to hold the toxic sexurities.”
That’s some clever Paulsonian moves. First plan to by toxic paper directly—something only a Goldman Sachs guy and his ilk could think a good move. Then the Euros say no, don’t do that, and order Bush and Paulson to follow their lead and buy parts of banks, recapitalize. So Paulson says OK! and keeps separate toxic debt plans by redesignating the debt in a new bank.
And yes it is a bit late for folks to start worrying about socialism. It has been a long time arriving and now it is at full tilt boogie!
On Friday the CEO was saying the company was fine and the stock was being beaten up by false negativity.
Why isn’t he in jail this afternoon?
Good grief!
...the end of living and the beginning of survival...
In September Citi took over Wachovia. They bought more than they could chew because now Citi needs bailing out. What’s wrong with this picture.
Democrats = socialism
Republicans = corporate socialism
Rush said something today they he considered controversial.
He said, “No new ideas have been put forth in over 60 years, only recycled bad ideas.”
There's a reason for that.
http://www.modernhistoryproject.org/mhp/ArticleDisplay.php?Article=FinalWarning
They sure like keeping everyone on the plantation; don’t they?
If Citigroup is so large that its failure means the failure of the American economy, then there's only one logical solution: break it up. It's a monopoly, holds too much power and its continued existence as-is is a threat to America's social stability.
Tip of the iceberg, Bloomberg (after sueing for access to treasury and FED information) just reported that our beloved leaders have set aside 7 trillion dollars of future taxpayer debt to bailout these con artists. They have already burned through half of it. That is half of our GDP. We are screwed.
Just think, the Chinese are building roads and nuclear power plants with the same amount of funding we just gave to Citibank. If we did that we would at least have something to fall back on when these jokers eventually bankrupt our country.
Once one bailout was passed, it opened the proverbial flood gates. I suspect that Obama will attempt to bail out the American people with Stimulus checks composed of freshly printed money.