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Author Topic: I'm not usually much for the conspiracy BS but...  (Read 1369 times)
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Doopri
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« on: November 24, 2008, 07:51:38 PM »

i mean are we witnessing the last final cash out before the end here?  usually (and especially in economic/political matter) im all about the facts, whats going on, why etc... but this is going over the top

with tarp i at first saw it as a decent idea - least of all evils as the case may be - get all the bad assets off bank books and hope for the best while an institution with a bit more wear-withall (the govt) held them.  then about a week after tarp was passed with this in mind, treasury decides "things changed" and were now going to distribute it essentially as we see fit, for reasons unknown, and in the least transparent manner so as not to incite panic directed at the institutions receiving.  bernankes been heavily involved as well, though he pretty much said months ago he though this was an area where treasury should take the lead to lend it more legitimacy.

and today, as if cnbc didnt appreciate the delicious irony of it, the saudi prince in charge of his countrys holding company is on talking up how great vikram pandit is, and how excellent the citi bailout is - 306B in now us govt backed securities, loans, and god knows what else -  not to mention cash infusions

and thats just two!  this government has been absolutely hemorrhaging money and despite promises of transparency and congressional involvement - its been an executive agency show treasury at the lead.  hell unless youre in a smokey room on a sunday you cant even figure whos getting what when

is it just me?  or is this an emptying of the till before the store closes?
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Moliere
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« Reply #1 on: November 24, 2008, 10:39:48 PM »

Quote from: Doopri on November 24, 2008, 07:51:38 PM

is it just me?  or is this an emptying of the till before the store closes?

Its just you. There's nothing to see here. Move along now.
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Ironrod
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« Reply #2 on: November 24, 2008, 11:51:06 PM »

It does look the scoundrels in power are looting and pillaging before the new batch of scoundrels comes to town.
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mikeg
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« Reply #3 on: November 25, 2008, 12:22:27 AM »

The gap between the super rich and EVERYONE has been growing and growing in the last decade and I personally, and this is total opinion, believe those who aren't among the super rich are about to go through the toughest economic time of our lives.  Everything I see and hear are simply smoke screens and or thumbs in the dike doing nothing but delaying the absolute inevitable. 


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Knightshade Dragon
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« Reply #4 on: November 25, 2008, 01:12:09 PM »

Another bailout without any shred of a plan on how that number was generated or how it will be spent.  *sigh*
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Blackadar
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« Reply #5 on: November 25, 2008, 01:29:53 PM »

# $29 billion for Bear Stearns
# $143.8 billion for AIG (thus far, it keeps growing)
# $100 billion for Fannie Mae
# $100 billion for Freddie Mac
# $700 billion for Wall Street, including Bank of America (Merrill Lynch), Citigroup, JP Morgan (WaMu), Wells Fargo (Wachovia), Morgan Stanley, Goldman Sachs, and a lot more
# $25 billion for The Big Three in Detroit
# $8 billion for IndyMac
# $150 billion stimulus package (from January)
# $50 billion for money market funds
# $138 billion for Lehman Bros. (post bankruptcy) through JP Morgan
# $620 billion for general currency swaps from the Fed
# $320 billion for Citigroup.

Rough total: $2,383,800,000,000

 

There are about 140,000,000 US taxpayers.  Add up all that dough and, if given to the taxpayers instead, would result in stimulus checks of about $17,000 for each taxpayer.  Talk about “socialism” and wealth transfer!

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pr0ner
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« Reply #6 on: November 25, 2008, 05:32:55 PM »

I wouldn't mind a $17,000 stimulus check from the government.

Gimme my piece!
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DamageInc
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« Reply #7 on: November 25, 2008, 06:09:50 PM »

Granted this is a link to a rumor, but pretty interesting nonetheless

http://video.google.com/videoplay?docid=1954933468700958565&hl=es
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Kevin Grey
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« Reply #8 on: November 25, 2008, 06:19:03 PM »

Quote from: DamageInc on November 25, 2008, 06:09:50 PM

Granted this is a link to a rumor, but pretty interesting nonetheless

http://video.google.com/videoplay?docid=1954933468700958565&hl=es

I couldn't take watching any more than half of that but I am genuinely dumber for having seen it. 
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Blackadar
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« Reply #9 on: November 25, 2008, 06:21:39 PM »

Quote from: pr0ner on November 25, 2008, 05:32:55 PM

I wouldn't mind a $17,000 stimulus check from the government.

Gimme my piece!

I'm sorry, but I was wrong.  With the "new" bailout adding $600B to buy mortages from Wall Streeet, it's sadly no longer $17,000.  It's $21,000.
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Doopri
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« Reply #10 on: November 25, 2008, 06:34:30 PM »

if not to the people as a $17000 check (smile) at least to the states.  i know many, mine included, are facing massive shortfalls.  i firmly believe that after the nasty retail repercussions coming in the next few months, the state budget problems are going to be the next "phase" of this whole mess.

and i think the states are in the best position to allocate funds as are needed on a local basis.  as it is right now, were just having good money chase bad and carving out fiefdoms for the very institutions who got us in this mess.  at least if it were the states getting injections they might be able to do some real good with local initiatives tailored to their particular forms of suffering from this thing.

though i did see something on the news today that some of the money was (again) going BACK to removing bad assets from books - seriously it changes by the day and for me at least has gone from restoring confidence to downright provoking suspicion
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