"Fed chairman endorses economic stimulus, but also says more help for banks is needed to fix the economy.
"Bernanke suggested that more banks and financial firms are likely to need additional capital injections from the government, and that further guarantees of their debt could be necessary, in return for the federal government receiving further equity in the firms."
http://money.cnn.com/2009/01/13/news/economy/bernanke_speech/
They don't know what the banks are doing with the first TRILLION of OUR money, and they aren't asking, but Ben Bernanke has divined that the banks need more, the banks that caused this mess by playing games with everyone's life savings in an effort to swindle us out of even more money.
I agree that we should give them something. I suggest a bullet to the brain of the CEOs of the first four or five banks that "need" more of our money. The rest should fall into line after that.
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Criminal behavior within the limits of the law. Lawyers are the reason we need more lawyers? Good gig.
"Bernanke dismissed this risk, however, saying that inflation appears well-contained in the near term. And he said despite the fact the Fed is taking on much riskier assets than normal as collateral, he does not believe there is a major risk of having those loans go bad."
The economy just took a major shit that this yahoo never saw coming, but he's reassuring us that these loans won't go bad (on the very same collateral that torpedoed the economy). They're talking utter nonsense, and it doesn't matter anymore because it's a free-for-all grab for money. They're thieves looting the working people of the United States. They should all be lined up against a wall and shot. Start all over. Instead, we're now becoming the new China: the government owns the means of production (via the banks) and the workers slave away at subsistence levels while party officials (bankers - and they know how to party with our money) enjoy the profits of our labor. This is socialism, no matter how much lipstick you put on the pig. Traitors and thieves.
The problem is Orbs, the Government doesn't own anything except an empty treasury. We didn't ask for a dang thing when the Treas. wrote a fat check to the New Yorkers that wrecked the country.
I hate New York.
How can you NOT know where 350 trillion dollars went? I can tell you all where every penny of my money goes and I'm not joking down to the penny.I agree with you Orbs a bullet to the head of the CEOs is a good start, then lets go for the accountants in charge of the money. I'd like to see a monthly report of thier spending made public. After all it's our money.
I'm getting real sick and tired of these frickin' bailouts. The monetary policy in this country is turning into a heroin junkie. Rather than cure the addiction, give 'em another fix. It ain't going to be a pretty sight when this country ends up going cold turkey.
I was at wal-mart today. Something pretty eerie I noticed... the store was *very* low on merchandise. It looked empty. The aisles were wide and cleared. If wally world is worried and backing off, we are S-O-L!
The economic meltdown is far worse in its impact than any terrorist act. We invaded two countries over 9/11. Why aren't we kicking down doors over this?
Have we all become puppets on a sting for the government to control and make us dance?
Is it time for all Americans to cut these strings and start a new government? By law, if the old government does not work we have to right to start a new one.
But before we do that, the government can “inject” me with a couple hundred grand and I’ll buy Abby pizza every week!!!!
KK...being the beginning of the year Wal-Mart may be taking inventory for the year so they don't have to pay all the extra taxes they intentionally drive down their inventories.
I'm all for another 'Boston tea Party'. No one in their right mind believes these bailouts. They gave the $$ to the banks and we have not seen a penny of it. If I need a loan where do I go....to the bank or Capitol Hill?
Give me liberty, or give me a bailout!
Ser does the pizza come with a bottle of wine? I'll start lobbying right now.
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