U.S. pulls the trigger

Chuck · Guru

RE: U.S. pulls the trigger

Chuck · Guru

God wrote:

The funny part...is that won't stop a recession ..it will stop a global collapse that money is tax payers money use to rescue the banks...In another words...the goverment used your money to recue the financial sector that way banks are able to create credits and we pay interest...so is like getting DP'ed....we get effed up twice....

and how many times do you think the goverment (s ) HAVE BEEN DOING THIS FOR?
not the first time my friend, not the first time.

LGigolo · Comandante

God wrote:

The funny part...is that won't stop a recession ..it will stop a global collapse that money is tax payers money use to rescue the banks...In another words...the goverment used your money to recue the financial sector that way banks are able to create credits and we pay interest...so is like getting DP'ed....we get effed up twice....

I guess Jinx must be looking forward to the recession cu mming to Canada! hmm

Chuck · Guru

Another reason for US recent climbed records is

The world's sharemarkets climbed again after European governments Monday announced bank bailouts worth more than $1 trillion and in anticipation of the U.S. bailout.

everyone is following Bush steps, "bailout". Germany gov' bailout figure was about 400 billion euros.

also quote

Bush said the measures taken in Europe were right, and had brought stability to the system. Watch market prices

"This new capital will help struggling banks to fill the hole filled by crisis during the time we are in," Bush said. "This is a short-term measure to insure the viability of America's banking system."

lets see where this goes, only time will tell.

God · Foro Master

The funny part...is that won't stop a recession ..it will stop a global collapse that money is tax payers money use to rescue the banks...In another words...the goverment used your money to recue the financial sector that way banks are able to create credits and we pay interest...so is like getting DP'ed....we get effed up twice....

Chuck · Guru

U.S. Treasury Secretary Henry Paulson says golden parachute payments will be banned and the salary deals of bankers "clawed back" as part of the government's $250 billion bailout of the financial sector.

U.S. President George W. Bush Tuesday followed Europe's lead, announcing the $250 billion plan to help stabilize the financial system.

Using authority granted in the country's $700 billion bailout bill, Bush said the Treasury would buy into banks in return for shares.

However, Paulson stressed taxpayers would get a return on their money and banking excesses would be brought to an end.

"Institutions that sell shares to the government will accept restrictions on executive compensation, including a clawback provision and a ban on golden parachutes during the period that Treasury holds equity issued through this program," he said.

http://www.cnn.com/2008/BUSINESS/10/14/world.markets/index.html

LGigolo · Comandante

And the rich get richer - or at least they get protection/help...
I'm not so into this, when Joe Blow who runs a small business next door is also going bankrupt and gets no help whatsoever! :cofuse:

Chuck · Guru

NEW YORK (CNNMoney.com) -- The federal government on Tuesday announced an extraordinary and historic direct investment in the nation's banks - the biggest bet ever made with taxpayer dollars on the U.S. financial system.

As a start, the Treasury will pump $250 billion into financial institutions. Nine of the nation's largest banks have already agreed to take the capital and in return will give preferred shares to taxpayers and accept limits on executive pay. Half of the money, or $125 billion, will go to the nine large banks.

http://money.cnn.com/2008/10/14/news/economy/bank_bailout/index.htm?postversion=2008101411