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Keyword: bailouts

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  • Reading List for the End of an Age

    12/12/2011 5:50:49 AM PST · by Kaslin · 5 replies · 1+ views ^ | December 12, 2011 | Paul Jacob
    One hates to disagree with accomplished professionals. And yet it’s obvious that the experts of this great Age of the Accredited Professional (AAP) have really blown it. They assured us that they could manage the economy — indeed, micro-manage the economy — and that things were all right. And yet, the bust happened, and they’ve been scurrying to prevent an utter debacle. It looks to me that, for all their trillions in bailouts, they haven’t succeeded. Government policies of deficit spending and ever-increasing debt are self-destructing, right on top of a bubble’s bursting, a bubble created by experts (mostly government,...
  • Joe Biden "Jokes" About Bringing Hundreds Of Millions Of US Taxpayer Dollars To Bail out Greece

    12/05/2011 11:50:30 AM PST · by SeekAndFind · 8 replies
    Zero Hedge ^ | 12/05/2011 | Tyler Durden
    Vice President Joe Biden, now best known for being the man who relies primarily on Jon Corzine for financial advice, continued his recent roll of epic linguistic blunders this morning. As Reuters reports, the VP, "joked during a visit to debt-choked Athens on Monday about bringing money to help Greece out of its deepest financial crisis in decades. Introducing a member of his delegation during a meeting with Greek President Karolos Papoulias, Biden said: "This man represents the Treasury department. He's brought hundreds of millions of dollars." His comments drew laughs from both the Greek and U.S. delegations." It...
  • Unemployment Numbers Tell Us the Economy is a PERFECT TEMPERATURE?

    12/04/2011 3:21:31 PM PST · by Razzz42 · 10 replies
    Notes From Underground ^ | December 4, 2011 | Yra Harris
    As the news came out on Friday morning, the headline reported that the unemployment rate dropped to 8.6% from 9%at first glance, the rate looked like 98.6 on the economic thermometer. The analysts are still arguing over the meaning of this data, but for traders and investors the real outcome is meaningless. It may lead to foreign investors purchasing U.S. equities as America is seen to be a relatively stronger economy, especially when compared with the EUROPEAN CREDIT-STRESSED environment. The headline number is fraught with all types of data pollution as the bean counters strive to figure out how many...
  • Gingrich Backed Freddie in 2007 Interview

    12/01/2011 4:31:55 PM PST · by Captain Kirk · 17 replies
    Wall Street Journal ^ | December 1, 2011 | NICK TIMIRAOS And PATRICK O'CONNOR
    Pressed in the interview about how that was not "a point of view one normally associates with conservatives," Mr. Gingrich replied that there are times "when you need government to help spur private enterprise and economic development." He cited electricity and telephone network expansion as similarly effective private-public purposes. "It's not a point of view libertarians would embrace, but I am more in the Alexander Hamilton-Teddy Roosevelt tradition of conservatism," he said. He added, "I'm convinced that if NASA were a GSE, we probably would be on Mars today."
  • US to backdoor Euro bailout through new IMF credit facility

    11/28/2011 4:17:44 PM PST · by Qbert · 21 replies
    Examiner ^ | November 22, 2011 | Kenneth Schortgen Jr, Finance Examiner
    In 2008, the United States government and Federal Reserve helped bailout European banks to the tune of trillions of dollars. The reactions to this by Congress and the public ensured that any future bailouts would have to be performed through the use of a proxy institution. It appears that this proxy institution has been found, as the IMF on November 22nd just opened a new credit facility with the primary purpose of providing liquidity to sovereign nations, especially those currently in the Euro Zone. IMF talking points on new credit facility * IMF APPROVES CREDIT LINE PROGRAM CHANGES TO PROVIDE...
  • Statement by Gov. Rick Perry on Secret Federal Bank Loans

    11/28/2011 10:43:29 AM PST · by shield · 70 replies · 1+ views
    Rick Perry for President ^ | 28th November 2011 | Governor Rick Perry
    AUSTIN Gov. Rick Perry today issued the following statement on todays news regarding the Federal Reserves undisclosed bank loans: These outrageous secret federal loans to bailout big banks are why Americans are disgusted with business-as-usual Washington, the Federal Reserve and taxpayer-funded bailouts. The actions of Chairman Bernanke and Secretary Geithner have again proven that Washington insiders cannot be trusted to stop bailouts, protect taxpayers, or create jobs. My economic reform plans seriously overhaul Washington, end federal bailouts and cut government spending, regulations and taxes to put American job creation and our economy on the right track.
  • European Leaders Head to Washington for Meetings When Everyone Knows There Is No Sanity Clause

    11/27/2011 5:39:04 PM PST · by Razzz42 · 7 replies · 1+ views
    Notes From Underground ^ | November 27, 2011 | Yra Harris
    In one of the best Marx Brothers scenes is from A Night at the Opera, where Groucho and Chico are ripping up a contract and they finally come to the SANITY CLAUSE, in which Chico proclaims there is no SANITY CLAUSE. In tomorrows Financial Times, there is a story about France pushing for a Christmas gift from the ECB. The gift that the French are hoping for is a backstop for the European banks that are under severe stress because of the huge amount of EURO sovereign bonds on the banks balance sheets. In order for the ECB to act,...
  • Battery fires prompt govt probe of Chevy Volt

    11/25/2011 6:37:05 PM PST · by quantim · 54 replies
    AP/WorldMag ^ | Nov 25, 9:07 PM EST | JOAN LOWY
    WASHINGTON (AP) -- New fires involving the lithium-ion batteries in General Motors Co.'s Chevrolet Volt have prompted an investigation to assess the risk of fire in the electric car after a serious crash, the National Highway Traffic Safety Administration said Friday. One Volt battery pack that was being closely monitored following a government crash test caught fire Thursday, the safety administration said in a statement. Another recently crash-tested battery emitted smoke and sparks, the statement said. GM, which was informed of the investigation on Friday, said in a statement that the Volt "is safe and does not present undue risk...
  • It's Official National Debt tops $15,000,000,000,000 for the first time ever 11/15/11

    11/16/2011 6:33:10 PM PST · by Steelers6 · 19 replies
    Treasury Direct ^ | November 16, 2011 | steelers6
    12/31/2010 9,390,476,088,043.35 4,634,739,130,665.17 14,025,215,218,708.52
  • Obama gave RFK Jr. $1.4 Billion bailout for solar company.

    11/16/2011 9:22:41 AM PST · by GlockThe Vote · 49 replies
    Big Govt ^ | 11/16/2011 | Wynton Hall
    President John F. Kennedys nephew, Robert Kennedy, Jr., netted a $1.4 billion bailout for his company, BrightSource, through a loan guarantee issued by a former employee-turned Department of Energy official. Its just one more in a string of eye-opening revelations by investigative journalist and Breitbart editor Peter Schweizer in his explosive new book, Throw Them All Out. The details of how BrightSource managed to land its ten-figure taxpayer bailout have yet to emerge fully. However, one clue might be found in the person of Sanjay Wagle. Wagle was one of the principals in Kennedys firm who raised money for Barack...
  • Occupy Fannie and Freddie

    11/10/2011 8:52:41 AM PST · by Kaslin · 4 replies ^ | November 10, 2011 | Debra J. Saunders
    The collapse of MF Global Holdings gives Americans yet another reason not to trust Wall Street. The firm filed for bankruptcy as federal regulators were looking for $600 million missing from customer accounts. Its CEO, former Democratic New Jersey Gov. Jon Corzine, had bet that European leaders would bail out smallish countries that were too big to fail. His bet did not pay off. The only good news out of this story is that Washington won't be bailing out MF Global. Corzine said he won't take a reported $12 million in severance. If he truly wants to atone, then Corzine...
  • How Obama Bought Off The Big Banks (and vice versa)

    11/08/2011 11:54:14 AM PST · by Driftwood1 · 4 replies
    American Thinker ^ | 11-8-11 | Steve McCann
    Occasionally the Washington Post does some real reporting. Yesterday Zachery Goldfarb did an analysis of the aggregate profits over the past three years for the major banks and financial institutions as compared to the eight years of the Bush administration. The finding: these firms have accumulated more profit in the three years of the Obama administration than they did in the two terms of George W. Bush. In an interview with Mr. Goldfarb on NPR when asked what kind of companies and how this happened, replied: We're talking about banks, the big ones you've heard of, Citigroup, Bank of America....
  • Obama administration mulled Solyndra bailout days before company's demise

    11/02/2011 9:49:34 PM PDT · by Qbert · 2 replies
    The Hill ^ | 11/02/11 | Andrew Restuccia & Ben Geman
    As California solar panel maker Solyndra teetered on the brink of financial collapse, Obama administration officials weighed and rejected a last-ditch plan to keep the ccompany afloat. Under the August plan, which was outlined in nearly 1,200 pages of documents the Obama administration released Wednesday evening, private investors would have put about $100 million into Solyndra, the company that received a $535 million loan guarantee in 2009. Meanwhile, the Energy Department would have agreed to convert some of Solyndras debt to the federal government into a partial stake in the company. The agreement would have also authorized the Energy Department...
  • Freedom Radio Rocks with Col Frank Ryan & Abdirizak Bihi

    11/01/2011 8:09:20 AM PDT · by HonestConservative · 7 replies
    Freedom Radio ^ | Nov 1, 2011 | Honest Conservative
    Freedom Radio, November 2, 2011 Wednesday morning at 10 AM EST has the distinct honor and pleasure to welcome Colonel Frank Ryan, USMC, retired. Col. Ryan has more military, business and professional experience than any or all of the current Presidential candidates. Col Ryan is a retired Marine and CPA who served on General Tommy Franks staff in Iraq, as an expert in economic warfare. When forming his staff, Gen. Franks said, "Get me Ryan". His decades of public service have not ended with his retirement from the military. For nearly twenty years, Frank Ryan has been president of the...
  • Italian deputies in fist fight over reforms

    10/26/2011 12:26:26 PM PDT · by dynachrome · 6 replies
    Reuters ^ | 10-26-11 | Barry Moody
    Italian deputies exchanged blows in parliament on Wednesday as tensions over a tough economic reform program came to a head. At least two deputies from the Northern League, a member of the ruling center-right coalition, fought with members from the opposition FLI party of speaker Gianfranco Fini. Two deputies grabbed each other by the throat as other parliamentarians rushed to separate them.
  • Rick Santelli - Rant: economy, banks, housing, politics, too big to fail

    10/24/2011 12:42:33 PM PDT · by STARWISE · 5 replies
    CNBC/You Tube ^ | 10-21-11
    Another Sentelli hammer-nail rant of truth .. Rick Santelli Highest Wage Earners in DC, What Does That Tell US?
  • Poll: 49% of Protesters Think the Bank Bailouts Were Necessary

    10/19/2011 11:40:31 PM PDT · by neverdem · 29 replies
    Reason ^ | October 18, 2011 | Matt Welch
    Some fascinating survey data from Democratic pollster Douglas Schoen: On Oct. 10 and 11, Arielle Alter Confino, a senior researcher at my polling firm, interviewed nearly 200 protesters in New York's Zuccotti Park. Our findings probably represent the first systematic random sample of Occupy Wall Street opinion. Our research shows clearly that the movement doesn't represent unemployed America and is not ideologically diverse. Rather, it comprises an unrepresentative segment of the electorate that believes in radical redistribution of wealth, civil disobedience and, in some instances, violence. Half (52%) have participated in a political movement before, virtually all (98%) say they...
  • Rick Perry: Mitt Romney = Obama Lite

    10/13/2011 12:08:14 PM PDT · by Cincinatus' Wife · 34 replies
    New York Daily News ^ | October 13, 2011 | Celeste Katz
    Rick Perry's campaign is pointing to Mitt Romney's defense of the Wall St. bailouts as the latest sign that he's President Obama's Republican twin. "This is just one more example about how Mitt Romney has more in common with Obama and the Democrats than with the Republicans," the Texas governor's spokeswoman Catherine Frazier told the Daily News. Romney defended parts of the bank bailout program during the Republican presidential debate on Tuesday, arguing it was necessary to "keep the entire currency of the country worth something." The former Massachusetts governor added, "We could have had a complete meltdown of our...
  • It's in all our interests to understand how to stop another Great Depression

    10/12/2011 2:12:57 PM PDT · by FritzG · 37 replies
    Guardian ^ | 10 Oct 2011 | George Monbiot
    When a man like Steve Keen says the trillions spent on refinancing the banks has truly stuffed us, we really should listen I stumbled out into the autumn sunshine, figures ricocheting around my head, still trying to absorb what I had heard. I felt as if I had just attended a funeral: a funeral at which all of us got buried. I cannot claim to have understood everything in the lecture: Sonnenschein-Mantel-Debreu theory and the 41-line differential equation were approximately 15.8 metres over my head. But the points I grasped were clear enough. We're stuffed: stuffed to a degree that...
  • Removing the Immunity of Politicians from Securities Fraud

    10/10/2011 8:51:37 AM PDT · by PieterCasparzen · 6 replies
    Vanity | 10/10/2011 | Self
    Here in the U.S. we have an SEC rule... Rule 10b-5 -- Employment of Manipulative and Deceptive Devices "It shall be unlawful for any person, directly or indirectly, by the use of any means or instrumentality of interstate commerce, or of the mails or of any facility of any national securities exchange, 1. To employ any device, scheme, or artifice to defraud, 2. To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not...