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tonybologna
Supreme tranceaddict
Registered: May 2005
Location: Yes maam
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| quote: | Originally posted by Skipper
I'm pretty sure, positive actually, that most of your numbers are incorrect.
The TARP was $700billion.
Stimulus package (Obama's first bill in office) was $875B or so.
Geitner's plan announced this week was $1 trillion.
There are many many speculations on how much it will take to pull the US out of the recession. But the entire global financial system WOULD HAVE COLLAPSED without US government intervention. There is broad consensus amongst top economists that this is true. Is the money going to be tracked down to every cent? Of course not. But this level of spending is necessary in the short term. |
I see no problem with having the proper stimulus and recapitalizing many of the small or regional banks. However, there is a $400 trillion derivatives monster waiting in the closet, mainly held by JP Morgan Chase, Citi, Bank of America, AIG, and one or two others. These too big to fail banks should be sent into FDIC receivership and bondholder/shareholders forced to take losses immediatley. This will put us no a track to recovery much quicker instead of a multiyear recession similar to what Japan experienced in the 1980s.
You can't keep paying off debt with more debt.
http://www.youtube.com/watch?v=3pwAFohWBL4
___________________
Me gusta la salsa picante!! ??Y'tu??
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Mar-26-2009 00:31
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Dj Smitty20
Supreme tranceaddict

Registered: Nov 2002
Location: your toilet
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Obama is clearly NOT the most powerful man in American politics. Come on, anyone with half a brain in their head knows that the President is kept in the dark on many issues. I'm quite sure he has struck a few deals here and there and he has broken some promises and will break a few more, as all politicians do.
But for fuck sake, he's been in office for what...65 days? Let's be a little bit more patient before we start saying he's an Illuminati pawn.
I am very certain myself that this "crisis" has been engineered in some manner by people in positions of wealth, power and influence. I don't know how deep it goes and none of us probably will, since we're just the modern peasant class anyway. I do not trust people with wealth, and I certainly do not trust anyone who runs any kind of financial firm or is involved with banks. They're all crooks, it's as simple as that. Every last one of them. No offense to anyone, but being a big time banker is just as bad as being a lawyer. Fucking blood suckers, the lot of them.
___________________
"No offense, but you're stupid"
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Mar-26-2009 00:34
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terrytutone
Senior tranceaddict
Registered: Aug 2007
Location: in front of the class
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Re: Is Obama one big Lie?
| quote: | Originally posted by b4k-oz
Did you catch the news yesterday with Obama reading from the teleprompter?
I know this is more about the USA but what happens there affects us.
Fact: Everyone Obama appointed to office came from Wall Street or were Lobbyist. First he said he wouldn't appoint them and then he appointed them to office.
Did you know that: Tim Geithner (former Pres of Fed. Reserve Bank) now head of Treasury, and Rahm Manuel (former wallstreet exec) now chief of staff, engineered the AIG banker bailout deal.
AIG got $170 mil in Fed Reserve Loan and despite that Obama said he signed an executive order capping the CEO salaries, all major banks and brokerage firms were exempt.
It's estimated that $5 Trillion disappeared out of US treasury from this bailout and the estimate is now climbing to over $8 trillion. Under pressure AIG had to release a list of where the money went to. The largest chunks went to Wall Street and banks in USA and Europe.
Wall Street firms Goldman Sachs and Merrill Lynch round out the top four, receiving $2.5 billion and $1.8 billion.
Now what do you think of Obama? |
You forgot to mention the part where no Jews died in 911.
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Mar-26-2009 00:37
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