Archive for September, 2008
Final vote results: 228 (No) vs. 205 (Yes)
Taxpayers finally win one! As everyone knows congress voted against the Wall Street Bailout. I along w/ everyone else I’m sure was very surprised since all weekend long all the media outlets were saying it was a done deal. It appears that banks all over the world are in trouble, and seemed like they [...]
Posted: September 29th, 2008 under Stock Market / Economy.
Comments: 1
US Propaganda: From “Bailout” to “Rescue”
Bush and members of congress have actually stated that we could make a good profit from this bailout, and somehow we’ve gone from the “Bailout of Wall Street” to the “Rescue of Main Street.”
OK so let’s say taxpayers buy a toxic loan (say $700k) from the bank at hold to maturity price instead [...]
Posted: September 29th, 2008 under Stock Market / Economy.
Comments: none
Bailout Outrage: Voters Say NO
Source: LA Times
http://www.latimes.com/business/la-fi-voxpop26-2008sep26,0,3246836.story
Thousands of citizens from all over California (Santa Monica, Fairfax District, Pasadena, etc) and the US (over 1000 in front of the NY Stock Exchange) came out to protest the bailout of Wall Street. Sen. Diane Feinstein (Dem Calif.) had to double her staff in order to deal w/ all of the [...]
Posted: September 26th, 2008 under Stock Market / Economy.
Comments: none
GM, Ford, Chrysler BAILED OUT
The bailout of the American Auto Industry has been passed by the House today at a cost of $25 Billion dollars in a very low interest loan. If these companies were not bailed out, Ford and GM would not have been bankrupt by the second quarter of next year, due to poor sales.
Oh [...]
Posted: September 24th, 2008 under Stock Market / Economy.
Comments: 2
Americans oppose bailout
According to a Bloomberg poll, only 31% of Americans favored the $700 Billion dollar bailout, while 55% opposed it. Americans did not want to use tax money in order to bailout private institutions. Things I learned from the senate hearings.
1. Alabama Senator, Richard Shelby is the man! He said something to the [...]
Posted: September 24th, 2008 under Stock Market / Economy.
Comments: none
LIARS or IDIOTS?
Bernanke, Frank, Dodd, Paulson
How can we trust the Fed and the Government when they’ve been severely wrong regarding the economic situation facing the United States? Either they were blatantly lying to us, or they’re incompetent, as they were not aware of this financial meltdown to begin with. A lot of people early on (many [...]
Posted: September 20th, 2008 under Stock Market / Economy.
Comments: none
MASSIVE FRAUD –FANNIE/FREDDIE
PIMCO (Bill Gross) bought them when they were at their lows, and then demanded a bailout.
8/21/08: Bill Gross tells CNBC that he believes that $40 Billion is needed to bailout Fannie and Freddie.
9/08/08: Bill Gross tells CNBC that he believes that $50 Billion is needed to bailout Fannie and Freddie.
Freddie and [...]
Posted: September 8th, 2008 under Stock Market / Economy.
Comments: none