Government plans new credit, mortgage programs($800bn)

AP ^ | 11/25/08 | JEANNINE AVERSA

[TigerLikesRooster]

Government plans new credit, mortgage programs

By JEANNINE AVERSA, AP Economics Writer 19 mins ago

WASHINGTON – The government introduced a pair of new programs Tuesday that will provide $800 billion to help unfreeze the market for consumer debt and to make mortgage loans cheaper and more available.

[TigerLikesRooster]

Ping!

[ken21]

they lift their goals daily

and print more money.

[3catsanadog]

Make the loans cheaper and more available?

Isn't this what got us into this mess in the first place?

[Heartland Mom]

I think everyone should go out and max out their credit cards to stock up on food, generators and ammo that we will need when it all comes crashing down.

[garbanzo]

The government introduced a pair of new programs Tuesday that will provide $800 billion

Hey it's only money, we can always print up more.

[silverleaf]

This appears to be ON TOP OF the $850 BILLION dollar “emergency” TARP

and this precedes the additional so-called $700 BILLION “stimulus” Obummer plans to sign at noon on January 21st

Dear God, what about our Constitution that specifies only Congress was authorized to spend our money?????

Paulsen is out of control, a blind man trying to stuff a crumbling dike with wads of billon dollar bills

Last night former Treasury Secretary Paul O’Neill said....the bill to the taxpayers will come due next year. Then, there may be no protections left from extraordinary inflation and unemployment. Because ALL this latest debt is being piled on top of $53 TRILLION in existing obligations

[vidbizz]

Okay, so yesterday it was $20B for Citi, today it’s $800B for consumer credit. What’s on the menu tommorrow?

Where is all this money coming from?????

[Jack of all Trades]

Ok, so scratch yesterdays plan to pay off my mortgage and hunker down. Here’s the new one: refi through the government giveaway circus, default, then let them write off my loan as a toxic asset. Bingo, I’m going to Vegas!

[TigerLikesRooster]

Open your account book in the computer. You put $xxx bn of new debt on your book, and loan it out to yourself, promising that you pay it back to yourself. It sort-a goes like that.

[Bean Counter]

Let’s see....that would make it around $8.3 Trillion Dollars that the Federal Reserve and the Treasury have blown through together over the past few months, and this injection of cash will no doubt just act as even more lubricant on the slippery slope to financial oblivion.

Wonder what the Markets will think of this news...

[EyeGuy]

If my name is Whitey Whitney do I qualify?

[OB1kNOb]

U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit (Update2)

[musicman]

"Government plans new credit, mortgage programs($800bn)"

[Bloodclot]

Its not real money its digital money, just ones and zeros in a computer.

None of this is being printed; in fact I doubt it’s even possible to print the amounts they have been talking about unless they start printing million dollar bills.

[musicman]

"Paulsen is out of control, a blind man trying to stuff a crumbling dike with wads of billon dollar bills..."

[djsherin]

What about the fact that the Constitution authorizes NONE of this?

Oh that’s right, we’ve tossed aside that little inconvenience.

[silverleaf]

LOL!!!

[Stentor]

If my name is Whitey Whitney do I qualify?

For re-education camp.

[avacado]

"Government [Democratic Controlled Congress and the incoming Democratic/Marxist President Obama] plans new credit, mortgage programs($800bn)"

Fixed it for the "How Obama Got Elected" morons...