Author Topic: Bailout part tres  (Read 995 times)

Offline Stein

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Bailout part tres
« on: January 28, 2009, 09:21:05 PM »
So, we had the first $700 billion which turned into even more with pork.  (ignoring all the chicken scratch other stuff like $100 billion or so to AIG, BS, et al)

Now, we have the Obama $850 billion.

Get ready for Part 3, we are already being warmed up.  Early projections put it at $500 billion - of course it will be at least $750.

http://news.yahoo.com/s/ap/20090129/ap_on_bi_ge/meltdown_what_s_next

Quote
The Obama administration is developing proposals to help rescue the banking system that could cost taxpayers hundreds of billions of dollars beyond the $700 billion bailout Congress already has approved.

The International Monetary Fund wrote in a report Wednesday that losses from banks in the U.S. and Europe already have topped $1 trillion and could reach $2.2 trillion.

At that rate, the banks will require "at least half a trillion dollars" to remain solvent, the report says.

Keep in mind this isn't the one that was passed by the House today, that was infrastructure, tax credits and pork.  This is straight TO THE ASSHOLES WHO HAVE WASTED THE PREVIOUS $700 BILLION IN ADDITION TO TRILLIONS OF DOLLARS OF SHAREHOLDER VALUE.

If this doesn't bring out the pitchforks, we are truly doomed.  Buy your doomstead in another country - the first time I have felt this way.