Posted on 09/26/2008 6:07:53 PM PDT by Tolerance Sucks Rocks
I don’t seem to be getting as many of those, either.
I am appalled at $1.5T bail out. I had not heard that the bail out would be that much. Thanks for the information.
A bank holiday would be fine, but the problem is not with unsound banks. Right now there is a hoarding of cash adn not much credit. Banks are not lending to each other. The problem is not necessarily with individual banks (although there are plenty of individual banks with problems) but rather with the system as a whole.
Well, it’s still officially 700B. Another FReeper somehow came up with the 1.5T figure, which I went ahead and used. Another estimate in the recent past is 1.0T.
Thanks for the revised info. I guess we will know the real number within 36 hours.
No one should be having any trouble getting a loan since the fed just printed 620 billion dollars and pumped it out.
Sept. 29 (Bloomberg) — The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.
The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion...................... Today’s blast of term liquidity will settle the funding markets down, and allow trust to slowly be restored between borrowers and lenders,’’ said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York. On the other hand, ``the Fed’s balance sheet is about to explode.’’
So WE THE PEOPLE just decided against the Bullsheet Bailout and what does the government do, they slap US in the face, laugh at US, THEN PRINT THE DAMM 6OO BILLION ANYWAY!
TAKE YOUR MONEY OUT BEFORE THEY STEAL IT.
I ain't at the point I'm laughin' about it yet. insurance hasn't decided what they wanna do. I'll feel better when it's fixed or replaced.
Damn — that’s a shame. What the heck happened to it?
That sucks, man! You should’ve seen the back of my old car!
US-19 Pinellas County FL - One of the most accident prone stretches of road in the US. (Why do we live here????) Wife and I have been in 9 fender benders in 5 years. This was the first one that was my fault, and of course the most serious. Fortunately no one was hurt.
Robert Higgs argues that the credit shortage is a myth. See here:
http://www.freerepublic.com/focus/f-news/2088651/posts
Nope. Refi’d the truck last week for a point lower and got approval for a new home. Not bad for such a supposedly lousy economy.
What a silly post.
If there are problems, they won’t come this immediately.
I don’t think so. With all the doomage being peddled on the radio, I figured it was time to find out if any of this was coming true. And it IS coming true...for people with bad credit histories.
they mentioned a car dealership that went under because they couldn’t get a loan for their payroll.......ah, if you need a loan to meet your payroll......you are already in trouble.
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