Here's How Our Fed Threw A Big Lifeline To European Banks

The Business Insider ^ | 5-10-2010 | Joe Weisenthal

[tobyhill]

I guess this will end Obama’s promise of cutting the deficit in half?

[LibLieSlayer]

abc just announced that we are giving the EU 1 TRILLION dollars in supposed future tax receipts.

LLS

[EternalVigilance]

So instead of the Germans working to 75 years old so the Greeks can retire at 50, now the Germans and Americans can both retire at 72.

Retirement? Hah! Quite the optimist, ain't ya.

Just kidding. Sort of.

[Iron Munro]

It attempts to keep Europe healthy so they can continue to help Obama disparage and undermine the USA.

[SpaceBar]

We have just crossed the Rubicon of global socialism without a shot fired.

[Liz]

SCAM-A-RAMA--GANGSTER GOVERNMENT AT WORK Earlier, G-20 Finance Ministers and Central Bank Governors asked the United States----the IMF’s largest contributor----for a whopping $108 billion to rescue bankers around the world.

Rahm said OKAY just as long as the usual cut was wire-transferred offshore to the usual notorious money laundering havens: Lebanon, Liechtenstein, Russia, India, Israel, Panama, the Bahamas, the Cayman Islands, the Cook Islands, Dominica, the Marshall Islands, Nauru, Niue, Panama, the Philippines, St. Kitts and the Grenadines, Cyprus, Gibraltar, Monaco, Antigua, Tortola, BVI.

So Obama quickly obliged and asked Congress to fold the $108 billion into a war-spending bill, originally crafted to send money to US troops.

Sen Jim DeMint (R-SC) offered an amendment to take it out of the war bill b/c he knew this was an "international version of the domestic TARP" (containing the same billion dollar kickbacks).

But the Democrat Senate voted to keep the IMF bailout in the war-spending bill (thus guaranteeing Democrats that their percentage was intact).

[FormerACLUmember]

THe USA is in economic devasation, and Obama is loaning money we don’t have to the lazy/murderous Greek Communist parasites.

[mlocher]

LOL! — Our money is going up in flames.

[mlocher]

Here's How Our Fed Threw A Big Lifeline To European Banks

Can we return the champaign?

[VOA]

“
THe USA is in economic devasation, and Obama is loaning money we
don’t have to the lazy/murderous Greek Communist parasites.
“

If we had a President, not a socialist demagogue, in The Oval Office,
the Greek government would have gotten the following phone call:
“Hello, America is BROKE. But we can give you the phone number of
our banker in Beijing. Otherwise, F-— off. We rescued you from
the Nazis, then the Communists. You’re on you’re own seeing how you’ve
embraced the Communist model.”

[Bean Counter]

Let me see if I get this straight...

US Banks are trying to limit their exposure to European debt and contagion (for many good reasons), so the US Government is doing an end around those banks and opening the US taxpayer to those very same risks instead with effectively no cap on the amount “we” could ultimately be on the hook for.

About right??

Tell me how does this fit into the US Budget, our deficit and the amount of money that has already been borrowed under a floating debt cap of $14 Trillion??

Let’s all stand up and give a warm Welcome to Euro-Mae....

[Eyes Unclouded]

Musical chairs. Everyone keeps smiling and dancing around until the music stops.

[pingman]

“Euro-mea” Precious! And you know that this will end well; NOT!

[Oatka]

“Here’s How Our Fed Threw A Big Lifeline To European Banks”

Shorter headline: “Insolvents bail out bankrupts”.

[GonzoII]

"now the Germans and Americans can both retire at 72."

Lazy bumbs! ;0)