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Bloomberg Analyst: $700 Billion Bailout Could Balloon to $5 Trillion |
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Take any government program (re: Medicare, S.S.,Prescription drug) and what the politician says it will cost, and then multiply it by 10. That is the usual true cost.
Shrub has been running the show for eight years and claims that “HE” is the “DECIDER”. And it’s the Republicans that have been pushing “no regulations” so as to let the thieves run free. But yet it’s the same old story, that it’s the dems fault. Only complete morons will fall for that bucket of slop any more. No wonder McShrub doesn’t want to debate.
I can’t wait for the DEPRESSION, there will be great opportunity!
“In other words, it’s a huge Sh!t sandwich, and we’re all gonna have to take a bite.”
“R.J. September 26th, 2008 – 12:12 pm
Shrub has been running the show for eight years and claims that “HE” is the “DECIDER”. And it’s the Republicans that have been pushing “no regulations” so as to let the thieves run free. But yet it’s the same old story, that it’s the dems fault. Only complete morons will fall for that bucket of slop any more. No wonder McShrub doesn’t want to debate.”
Actually Bush pushed for more regulation of Fannie Mae and Freddy Mac three months after he took office. And again in 2003 and again in 2006.
And McCain is on his way to Ole Miss right now.
$700bn divided by the US population (man woman child) approx. 304,347,700 comes to $23,000 per person!!! That’s how much this is costing us.
Return it back to the tax payer and let the banks fail and reform. Give it back to us, it was are our money to begin with.
We will make better use of the money than Wall St.
Instant economy boost!
“700bn divided by the US population (man woman child) approx. 304,347,700 comes to $23,000 per person!!! That’s how much this is costing us.
Return it back to the tax payer and let the banks fail and reform. Give it back to us, it was are our money to begin with.”
Neil your calculation is wrong. 304,347,700 x 23000 = 7 TRILLION dollars not 700 billion. Your off by a decimal points. The actual cost to every American is $2300, not $23000.
gosh I have been reading where 20% of any “profits” will go to Obama’s group ACORN….do the congress not know that this group is being investigates for voter and housing fraud???this SH__ happened because of groups like acorn not to scream “racism”and ceo’s paid Politician’s to look the other way and now these people get PROFITS!!!!`and FAnnie mae was “forced” to approve 32% minority loans and lenders wrere “forbidden” to ask the illegals for a social security card he– when I go get a loan I have to show paychecks. proof of adrress,income tax returns etc and the illegals don’t even have to show proof of social security.all of these points to Obama’s plan to help the opressed and minorities HOPE (helping oppressed people everywhere) ever hear of the Islamic group H.O.P.E.???? (Farrakhan)
JOsh, Neal E is a liberal. Most liberals are poorly educated and have a problem doing simple math, especially if there is more than two zeros involved.
Beginning in 2000, for the first time in history, Republicans controlled the White House, Senate and House. Look what we have to show for it now.
I don’t care if the government bailout plan gets passed or not, I have ZERO confidence and trust in the American Government!
emember Bloomberg is much like MSNBC in their Liberal views .
Smart Folks who really know and understand how economics works have thought this for weeks now . 700 Billion is nothing more than the Appetizer before a 9 course TERRIBLE meal with bad Drinks and nasty desert that is all “uneatable” .
This is worse and nothing more a frozen meal at $ Million a plate or more .
Those that willfully broke us in Congress ,Freddy and Fanny , Wall Street , Banks , Brokerage houses , Mortgage cos. and those buying homes then could not afford them are still very much in place . The Villains are now going to Fix the broken system they broke themselves on purpose and tax payers … tax moneys NOW should fix it and fix our own retirements funds as well now plus the stock market and loans ? Hardly .
Reminds me of the hungry Fox saying let me guard you Chicken coop …. Trust me America .
After call those Feathers in my mouth came from a old pillow I found in the dump . Sounds like Barney Frank and Chris Dodd those same Foxes them selves the last 5 days .If you can’t pay for your home in 2008 . How can they pay for it 3 years from now since % payments still are growing ….. that is how it all started from the very beginning only a few years ago . You have the credit rating , a stable Job , you get a loan like has worked in America since WW 2 or you don’t period .
95 % Pay their Home Loans on time now as we watch our home values drop . Unfair since many are paying the price for a very few called Socialism and Social equality .
Let our Capitalist system balance off the market like if has for over 80 years (supply and demand )since the last thing Congress fixed was our growing energy need for oil the last 37 years not to mention our Schools , Air Lines ,Air Ports , Highways , Bridges , Social Security , Medicade and Medicare .
OH No ..No … No !!!!!!! Now even Iron me is scared .
Neil,
Funny because that’s not the first math mistake I’ve seen with this exact same idea today. The other was a forward from my father from a co-worker which claimed that 85 Billion could be re-distributed amongst the 200million adults in the nation so that each one would get $425,000. That particular calculation is off by 3 decimals! The actual answer is $425 per person.
Love the people sitting around making this stuff up just trying to smear Republicans or Democrats or whoever.
We were told the Iraq war would pay for itself. Then we were told it might cost $200 million. So far it has cost nearly $600 billion. When interest, etc, is added, some economist say that will be closer $5 trillion.
Thats no big deal. Who among us hasn’t underestimated the cost of something on occasion?
As to the bailout, it will probably only cost the $700 billion they are saying it will. I mean, what are the odds of them making the same sort of mistake twice?
Anyway, it isn’t our money, actually. The government is borrowing it from Saudi Arabia and China. I’m sure they will never foreclose on us. China isn’t interested in power. Anyway, If I had kids and grandkids, I’m sure they could grow to like Chinese food.
Well let’s see who was our president about 8 years ago? Was it a Demo let’s see… Clinton he let Nafta go through and greedy company’s began to send everything to our countries to be produced………..They really did not care that the quality of the items were poor when they came back to the us. But low an behold everyone jumped on the band wagon. We get labor for 1 dollar a hr and we help countries who need help, but hurt all the people who “want great pay” for a hours work.
Just bought a “new house” Dec 2006 everything was new. Union labor built this house, I just had to repair the roof where shingles were blown off, I guess the staples they used came out. The materials were guar… but the labor was not.
Took the roofers 10 minutes…but the labor was $75 dollars, because they have a miminum they charge. I have 3 dogs they are 15yrs or older they require meds. The vet’s won’t fax precriptions to pet med or others because they don’t get that $50 on the meds. They have gotten over $1000 in ex cost this year alone. The world is greedy, it has lost it’s it’s integerty.
I am republican because I beleive in results not in smiles and promises. If you have something nice people hate you for it. They don’t realize you worked 40 years to get it.
I had an Obama rep visit this week asking if I were registered to vote, I said yes and she wanted to know “who” if I did not mind. So I told her and she frowned and said I will notify the compaign headquarters not to bother you anymore. The next day the phone rang and it was the Dem Party pre-recorded message that McCain was involved with Lobbist. See how the Dem are they are liers.
This Mess is another example of men being not too bright. Men have created this disgrace and now it is time for we women to clean it up like we always have to. Sigh. Why don’t you boys go outside and toss a football around or something?
This is why we have to elect Palin/McCain. Sara is a real crusader. She will get in there and clean up Wall Street in a couple of days. John is a nice man, he won’t get in the way but if he does, we can handle it.
Let’s go, girls!!!
http://article.nationalreview.com/?q=MDZiMDhjYTU1NmI5Y2MwZjg2MWNiMWMyYTUxZDkwNTE=
Palin Problem
She’s out of her league.
By Kathleen Parker
If at one time women were considered heretical for swimming upstream against feminist orthodoxy, they now face condemnation for swimming downstream — away from Sarah Palin.
To express reservations about her qualifications to be vice president — and possibly president — is to risk being labeled anti-woman.
Or, as I am guilty of charging her early critics, supporting only a certain kind of woman.
Some of the passionately feminist critics of Palin who attacked her personally deserved some of the backlash they received. But circumstances have changed since Palin was introduced as just a hockey mom with lipstick — what a difference a financial crisis makes — and a more complicated picture has emerged.
As we’ve seen and heard more from John McCain’s running mate, it is increasingly clear that Palin is a problem. Quick study or not, she doesn’t know enough about economics and foreign policy to make Americans comfortable with a President Palin should conditions warrant her promotion.
Yes, she recently met and turned several heads of state as the United Nations General Assembly convened in New York. She was gracious, charming and disarming. Men swooned. Pakistan’s president wanted to hug her. (Perhaps Osama bin Laden is dying to meet her?)
And, yes, she has common sense, something we value. And she’s had executive experience as a mayor and a governor, though of relatively small constituencies (about 6,000 and 680,000, respectively).
Finally, Palin’s narrative is fun, inspiring and all-American in that frontier way we seem to admire. When Palin first emerged as John McCain’s running mate, I confess I was delighted. She was the antithesis and nemesis of the hirsute, Birkenstock-wearing sisterhood — a refreshing feminist of a different order who personified the modern successful working mother.
Palin didn’t make a mess cracking the glass ceiling. She simply glided through it.
It was fun while it lasted.
Palin’s recent interviews with Charles Gibson, Sean Hannity, and now Katie Couric have all revealed an attractive, earnest, confident candidate. Who Is Clearly Out Of Her League.
No one hates saying that more than I do. Like so many women, I’ve been pulling for Palin, wishing her the best, hoping she will perform brilliantly. I’ve also noticed that I watch her interviews with the held breath of an anxious parent, my finger poised over the mute button in case it gets too painful. Unfortunately, it often does. My cringe reflex is exhausted.
Palin filibusters. She repeats words, filling space with deadwood. Cut the verbiage and there’s not much content there. Here’s but one example of many from her interview with Hannity: “Well, there is a danger in allowing some obsessive partisanship to get into the issue that we’re talking about today. And that’s something that John McCain, too, his track record, proving that he can work both sides of the aisle, he can surpass the partisanship that must be surpassed to deal with an issue like this.”
When Couric pointed to polls showing that the financial crisis had boosted Obama’s numbers, Palin blustered wordily: “I’m not looking at poll numbers. What I think Americans at the end of the day are going to be able to go back and look at track records and see who’s more apt to be talking about solutions and wishing for and hoping for solutions for some opportunity to change, and who’s actually done it?”
If BS were currency, Palin could bail out Wall Street herself.
If Palin were a man, we’d all be guffawing, just as we do every time Joe Biden tickles the back of his throat with his toes. But because she’s a woman — and the first ever on a Republican presidential ticket — we are reluctant to say what is painfully true.
What to do?
McCain can’t repudiate his choice for running mate. He not only risks the wrath of the GOP’s unforgiving base, but he invites others to second-guess his executive decision-making ability. Barack Obama faces the same problem with Biden.
Only Palin can save McCain, her party, and the country she loves. She can bow out for personal reasons, perhaps because she wants to spend more time with her newborn. No one would criticize a mother who puts her family first.
Do it for your country.
— Kathleen Parker is a nationally syndicated columnist.
Well, I would not worry about her at least she can carry on a conversation and you can not say that about Obama’s running mate. He must have wanted someone who could not figure out what he was doing!!
How about this formula:
Neal E = Math Moron
This is ridiculous commentary by Parker. Palin is just as well suited to the vice presidency as any previous candidate, if not more.
The concern should really be about the lack of experience on Obama’s behalf. Not to mention his extreme socialist views and total lack of knowledge on foreign affairs.
Biden isn’t even worth talking about, except to say he is a nit wit.
One thing that runs through the whole mess is the prominence of Joos in these companies and the ones in congress on the banking committee like Shummer and Frank who are handing out the money to them. The companies like Lehman, Bear Sterns, Goldman Sachs, and the Fed with Bernanke and Greenspan are all scratching each others backs at our expense. One thing is for sure-these people will leave with golden parachutes and we American taxpayers will take in the shorts as usual. Those are the facts. Calling someone anti-something is not going to change them.
Spin? Propoganda?
NO! ITS CONFIDENCE!!!
Today on the Wall Street Journal’s website the McCain team has declared that McCain has WON THE DEBATE!!
http://www.washingtonpost.com/wp-srv/politics/images/26Sep_Friday_WSJ.JPG
The national debt is $10 trillion. If it is paid off at $10 billion per month, which is what is being spent on the Iraq war, it will take over a thousand years to pay off. Counting credit card debt, mortgage debt and corporate debt, this country has a total debt of over $55 trillion. Between 1983 and 2006 over a trillion dollars has been raided from social security. The Democratic and Republican parties both blame each other, yet both continue to get away with destroying this country. And the stupid voters continue to let them. This means you.
Here is an idea: Fix the dollar so Americans’ wages are strong enough to buy a home without needing to also buy a mortgage. The “American Dream” is owning a home – not owning a mortgage.
Ok TaxPayers, I have it figured out!
With Iraq, the Wall Street Welfare Bail Out, the normal Republican national debt increase… GW Bush has put us about 2 trillion added dollars ($2,000,000,000,000.00) in debt. Here is how we can pay it off in just four years and get right back to where Bill Clinton left it!
The Bush Legacy Tax! (BLT)… We simply tax all food at 68%. That’s it! Done!
Poor folks eating spam pay less, and us eating prime rib pay more. Everyone pays according to their situation. Even them illegals will pay!
There are 305 Million folks here in the USA that each snarf down about $200 in food a month. Over four years that is $2.93 trillion total dollars. If we tax that at 68% we make that $2T and we are home free!!
We are also the fattest nation on Earth, so this will really help us reduce those tummies too!
The Bush Legacy Tax! A plan we can live with!
proactive spin??! NO! JUST SELF CONFIDENCE!
McCain camp declares that McCain has already won the debate!!!
Time to quit worrying about who did it and figure out how you are going to survive. It’s Weimar Republic time. Stock your pantries, fill your gas tanks, pay your bills off (or as many as you can), start thinking of how you and your family are going to live through this thing and quit arguing with each other! Won’t help. This is IT! P.S. It’s more like 20 trillion….
1300 T in derivatives?
it is 23 times of GDP of the whole world!!!
1 300 000 000 ( mln )
55 000 000 GDP ( mln ) – lookup CIA factbook
1300 / 55 = 23.63 !!!
here is your ticking BOMB
Parker used to be solid right wing. Looks like the leftwing marxist elite street thugs have paid her off. Well, we got plenty more rightwing columnists where she came ffom.
She is just a looney in drag anyway, not a real woman. She’s just jealous because Palin is better than her.
Palin is the most qualified candidate to run for office in the last 100 years. She was a Mayor and Governor. It doesn’t get anymore qualified than that.
Let’s go girls!!!
Ok I was wrong, my apologies. I deserve the reaming…I was a little trigger happy on the ‘0′ button. Good thing I don’t work for the federal budget office.
Why on earth are these ass hats put back into Congress year after year and we just don’t care that they are ruining our country.
HOW ABOUT ZERO TO FAILED BANKS A-HOLES! WE HAVE HAD ENOUGH!
I hope you people make a hard decision about who you put in Congress this election year. If you think the jackass Obama will save us, you are a brainwashed lemming.
McCain ain’t much better, though if I have to step in a pile of crap, I prefer it to be old & dried, instead of fresh & sticky, as it sticks to my shoe for a lot longer.
That is what the Presidency has come down to, deciding which pile of crap we want to step into… I am kind of tired of it and am leaning to write in Ron Paul, it’s just that I can’t stand to see the country’s first black socialist president in the white house.
What has happened to our wonderful republic? Congress has destroyed it.Both parties are to blame… Now they are dividing us, when we need to vote every freaking one of them out.
Lets get some change, change the jokers in Congress for people that really care. At least Palin is an outsider that does not stink.
Hiding the truth about the national debt only confirms your guilt as one of the thieves.
Palin is a nit wit.
Period end of story. That is why McCain has kept her from the press and is trying to cancel her debate. Did you see her on Katy Curics show? It was sooooooo painful to watch and I was feeling sorry for her. She is a post-turtle.
This bail out is just another LIE and SCARE tactic to rob the tax payers out of another 3 or 4 TRILLION just as the Iraq war was a financial bonanza for imposter buSh and his theiving cronies. If you had started a buisness the day Jesus Christ was born and lost 1 MILLION dollars a day, every day it will take untill the year 2070 to reach a TRILLION dollars in losses. keep calling your reps and tell them NO!!!! Put a surtax on all securities sold on Wall Street and let them bail themselves out. This is all just a scam to move this along to the next Administration. Herbert Hoover tried this exact same thing and bailed out Wall Street and it didn’t work. We still had the great depresion. Japan tried this exact same thing in 1990 and it still hasn’t worked. This is just adding to the PONZI SCHEME!!!!!! The latest poll shows 3 to 1 the people are against this, yet Congress is STILL going foward. They all need to be thrown out. They all have to big of a personal stake in the market to be objective. They are saving their own porfolio’s while they have let hundreds of thousands of our pensions go belly up. I AM FURIOUS and SO ARE YOU ALL. JUST KEEP CALLING.
When Bank of America took over Merril Lynch the head of B of A gave a interview where he stated that about half of the 9,000 U.S. banks will fail over the next few years.
Like the Savings and Loan scandal, this is a robbery in progress not a financial crisis.
Fear is the salesmanship gimmick. If you don’t give me the money….
Debt and warfare are attempts to control the future from criminal/Christian Reconstructionists who don’t want serious solutions that work against their financial and theological interests.
Palin is a bimbo in a swimsuit non academic joke, they did not vet the reality. McCain and his crew are criminals and Palin is proof of a bad choice that cannot comprehend serious issues. She is in over her head. Like a deer in the headlights to be controlled by DC handlers. Image was all that matter in a Bush nightmare.
Parker has it right. They sold America Bush through repeated vote fraud with a ‘Swiftboat Veterans for Truth’ twist (Alice Walton funded Swiftboats for $2.7 million). Imagine how they will get the media to give a calculated pass to the appointment of McCain/Palin.
McCain/Palin/Bush- The Jingoistic Bimbo Mafia
Let’s get some opinions that count. Let’s get some financial experts in those talks that can speak the financial lingo. Those who have proven track records of good sound advice.
I don’t think any of these politicians…both Democrats and Republicans have that expertise! We need good…sound…reasonable…input!
VOTER REVOLUTION…HERE AND NOW!
Wanker Limbaugh, she’s not in over her head; she is right where she is supposed to be.
By definition, half the people in this country are below average intelligence. That is her base and that is who her handlers are after.
Not everyone in that section is a Republican and not all Republicans are below average in intelligence. Some are very smart. But that’s not the point. The point is to capture the fleeting interest of enough of those who don’t, won’t or can’t pay attention? Who would rather vote on American Idol than on some stupid bunch of politicians? What better way to do it than flashing a picture on the screen of a New American Heroine — Lorna Croft, Wonder Woman, your own mom when you were little.
See the pretty lady? Wouldn’t you like to have her chase away all the baddies and take care of you. Of course you would. Now be a little man and vote for her. Everything will be Okay then. Go ahead, vote for her — yes, that’s PopPop there with her, he was a War Hero, isn’t that great — it will be fun and then everything will be Okay. We’ll take care of the rest and you will be safe forever.
( http://www.huffingtonpost.com/naomi-wolf/the-battle-plan-ii-sarah_b_128393.html )
“We are helping the Indiana tax activists with HOOSIERS FOR FAIR TAXATION in Congressman Mike Pence’s home state of Indiana. They have a solid verifiable track record of successes and political network that includes elected officials on the right side.
Mike Pence, a courageous Senior Congressman from Indiana, was first to stand down the Fed against the bailout. Please call and fax his Indiana Office. Tell him to hold his ground and to co-sponsor HR 2755! There is much ground support and he’s getting calls from high places to co-sponsor the Act to Abolish the Federal Reserve.
Be polite, enthusiastic, and be sure to thank him for his courage!
The numbers below are for his campaign office. There will likely be staff in his office this weekend. If no answer, send a fax and leave voicemails with your name, city, state. It doesn’t matter if you are not from Indiana.
REP MIKE PENCE INDIANA OFFICE
PHONE: 765-643-9503
FAX: 765-643-9514
P.s. Then don’t forget to call your own local Congressperson and tell them her or him to stand with Representative Mike Pence and with the American People.”
The Zionist Gangsters (aka Russian-Israeli Mafia) have orchestrated another 911. This time it is a financial armageddon. It is interesting that some of the same people (aka Hank G. at AIG) are associated with the latest 911. People should be taking this more seriously given the connections of the jew mafia to Russia.
It is interesting that the congress only has a 15% approval rating, according to recent polls. The reason the approval rating is so low is because none of the politicians are discussing what they are going to do about the Zionist/Wall Street gangsters.
Also interesting that the WM CEO (Alan F.) is walking away with $20 million after a short time on the job. It seems like the gangsters like to rub their exploits in the publics faces.
[...] http://www.breitbart.tv/?p=182363 [...]
Sara Parlin may be the only voice-of-the-people.
You can call her disgusting names and make indignant cracks, but where would you find another man or woman willing to take the punishment Parlin is taking?
Her good looks are a curse for her. People are jumping to conclusions about her abilities. What’s wrong with her aside from the facts that she’s charming, lovely, straight-forward, ambitious, patriotic, sensible, enthusiastic, plain-speaking?!
Oh–you don’t like the way she speaks–Have we all forgotten that a long stream of smooth-talkers got us into this mess!!
In over her head? You bet–so is everyone else. This is a big, BIG mess. Anyone who claims to have answers has overlooked a vital something.
The smooth-talkers aren’t saying anything substantial–they are simply setting their rhetoric to music.
What are we doing?? Who will please everyone?? Just what’s the criteria for running this jumbled up country??
Nobody has a magic wand. We can’t go back to 1776.
There will be no wonderboys with all the right moves. Scalding our past decision-makers or placing blame is more useless than skipping stones.
We are toast, so pass the butter and be happy we have it to pass.
“This is: as good as it gets.” ccw
[...] our Economic Editor, starting with the most disturbing news: Bloomberg Analyst Marc Faber: $700 Billion Bailout Could Balloon To $5 Trillion — WaMu Is Gone, But Trouble Spots Remain (The banks to watch: Wachovia, Comerica, Marshall & [...]
[...] Bloomberg Analyst: $700 Billion Bailout Could Balloon to $5 Trillion So the $700 billion is really nothing and the Treasury is just giving out this figure when actually the end figure may be $5 trillion. [...]
Wow, they do come up with some cool stuff dont they?
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[...] Bloomberg Analyst: $700 Billion Bailout Could Balloon to $5 Trillion – Breibart.tv [...]
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[...] Breitbart.tv » Bloomberg Analyst: $700 Billion Bailout Could Balloon to $5 Trillion __________________ Eckhart Tolle/Marianne Williamson in ‘08! "The next 30 years will stand [...]