Filed under: 2-party system, 2008 Election, bailout, Barack Obama, bernanke, Big Banks, brad sherman, Britain, C-Span, California, Chicago, China, chris dodd, citigroup, CNBC, Congress, Credit Crisis, DEBT, Dictatorship, Dollar, Dow, Economic Collapse, economic depression, Economy, Empire, Europe, european union, Fascism, FDIC, Federal Reserve, food crisis, food market, food prices, food shortage, foreclosure, foreign banks, foreign investors, France, general motors, George Bush, Germany, global economy, Globalism, GM, Goldman Sachs, google, Great Depression, Greenback, Harry Reid, henry paulson, House, housing market, hyperinflation, Inflation, interest rate cuts, Japan, jim rogers, joe biden, John McCain, Larry Kudlow, left right paradigm, liquidation, london, marc faber, middle class, mortgage, national socialism, nationalization, neocons, Neolibs, obama, Paulson, Propaganda, Psyops, putin, rate cut, real estate, Russia, Senate, socialism, Stock Market, subprime, subprime lending, Taxpayers, US Economy, US Treasury, Wachovia, Wall Street, wells fargo | Tags: earmarks, financial markets bill, financial terrorism, great britain, hr 3997, mental health bill, pork, pork barrel, pork barrel earmarks, Pork Barrel Spending, shanghai
Bailout Bill Will Help Chinese Banks, Foreign Banks
Congress Approves Bailout Bill
AP
October 3, 2008
With the economy on the brink and elections looming, Congress approved an unprecedented $700 billion government bailout of the battered financial industry on Friday and sent it to President Bush for his certain signature.
The final vote, 263-171 in the House, a comfortable margin that was 58 more votes than it garnered on Monday. The vote capped two weeks of tumult in Congress and on Wall Street, punctuated by daily warnings that the country confronted the gravest economic crisis since the Great Depression if lawmakers failed to act.
Dow plummets when bailout passes
List of Representatives who Switched from “Nay” to “Yea”
http://www.campaignforliberty.com/blog.php?view=1087#.
Food Riots Have Already Begun as Global Grain Prices Skyrocket, Supplies Dwindle
http://www.naturalnews.com/024372.html
California may need emergency $7 billion bailout
http://www.reuters.com/article/newsOne/idUSTRE49229820081003
Hoax Bank Closure Story Peddles Bailout Propaganda
http://www.prisonplanet.co..e-story-peddles-bailout-propaganda.html
Fed Officials Considering Further Rate Cuts: Report
http://www.cnbc.com/id/26986621
Former Head of Fed’s Open Market Operations Says Bailout Might Make Things Worse
http://georgewashington2.blogspot.com/2..ad-of-feds-open-market.html
Bailout Would Only Prolong Crisis: Jim Rogers
http://www.youtube.com/watch?v=49SYpcaWHTE
Wells Fargo Buys Wachovia Nixing Citi Deal
http://biz.yahoo.com/..ls_fargo_wachovia.html?.v=8
Report blames U.S. trade gap for 5.6 million lost jobs
http://www.reuters.com/article/ousiv/idUSTRE4913E220081002
Putin blames US for world economy crisis
http://www.presstv.ir/detail.aspx?id=71042§ionid=351020602
Bailout bill is 451 pages long
http://news.yahoo.com/s/a..cnWOA64ch9GkocOsJ0lJv24cA
Who’s profiting from the crisis? Goldman Sachs, of course
http://www.marketwatch.c..CDCB7}&print=true&dist=printMidSection
Paulson Bank Rescue Proposal Is ’Crazy,’ O’Neill Says
http://www.bloomberg.com/apps/ne..mClVjevU&refer=home
France Wants $500B Rescue For Europe
http://business.timesonline.co.uk/tol/business/markets/article4864032.ece
Faber: U.S. Bailout Won’t Stop Slowdown
http://www.bi-me.com/main.php?id=25070&t=1&c=35&cg=4&mset=1011
IMF Adds Pressure On Congress To Pass Bailout
http://www.guardian.co.uk/business/2008/oct/01/banking.useconomy
Google stock plunges more than 93% in “erroneous trading”
http://www.tgdaily.com/html_tmp/content-view-39543-118.html
Ford & GM Auto Sales Drop
http://news.yahoo.com/s/ap/20081001/ap_o..OmxGcLJO8EjS5v24cA
Chicago woman buys a house for $1.75
http://www.presstv.ir/detail.aspx?id=71130§ionid=3510213
Ex-bankers on pushing customers to rack up debt
http://www.cnn.com/2008/LIVING/pers..dex.html?iref=mpstoryview
US economic dominance over – Russia
IMF Warned Of Full-Blown Crisis
September’s ISM Manufacturing Index “Screams Recession,” Economists Say
SEC Extends Ban On Short Selling
Brazilian president: Brazilian economy solid, U.S. should do their homework
Western World Will Become Less Wealthy
’Car sleepers’ the new US homeless
Filed under: AIG, bankruptcy, Big Banks, Britain, Credit Crisis, DEBT, ECB, Economic Collapse, economic depression, Economy, Europe, european central bank, european union, Federal Reserve, foreign aid, foreign banks, foreign investors, global economy, Goldman Sachs, Great Depression, Greenback, hyperinflation, Inflation, interest rate cuts, london, rate cut, Stock Market, Taxpayers, United Kingdom, US Economy, Wall Street | Tags: run on banks, swiss national bank
U.S. Taxpayers Paying To Bail Out Foreign Banks
George Washington’s Blog
September 21, 2008
We all know that the Fed is trying to stick the American taxpayers with trillions of dollars in debt (direct or through inflation) to bail out the Wall Street robber barons.
But did you know that they are also trying to get you to bail out foreign gamblers?
An article in the Telegraph states:
“The Fed has also just offered another $125bn of liquidity to banks outside the US that are desperate for dollars and can’t access America’s frozen credit markets”
“Another” $125 billion? How much has the Fed already given to foreign banks?
Why are American taxpayers who are already drowning in debt due to U.S. gamblers also being asked to also bail out foreign speculators?
This isn’t a pro-America anti-everyone-else post. If I lived in England, or Canada or Japan, I would resent being asked to bail out America, too.
Central Banks Offer Extra Funds to Calm Money Markets
Bloomberg
September 18, 2008
The Federal Reserve almost quadrupled the amount of dollars central banks can auction around the world to $247 billion in a coordinated bid to ease the worst crisis facing financial markets since the aftermath of the 1929 Wall Street crash.
The Fed increased the amount of dollars that the European Central Bank, the Bank of Japan and other counterparts can offer from $67 billion “to address the continued elevated pressures in U.S. dollar short-term funding markets.’’ The Bank of England, the Bank of Canada and the Swiss National Bank also participated. Several of them lent funds in their own currencies as well with the Fed adding a record $105 billion in temporary reserves.
Policy makers have struggled to revive confidence in markets this week as investors stockpiled money on concern more financial institutions would fail after the bankruptcy of Lehman Brothers Holdings Inc. and the U.S. government bailout of American International Group Inc. The cost to hedge against losses on U.S. government debt climbed to a record yesterday.
“There’s a complete lack of faith in the markets,’’ said Jim O’Neill, chief economist at Goldman Sachs Group Inc. in London. “There’s a lot of cash hoarding and people losing trust in banks, so the central banks are acting to relieve that. This might not be the last time they have to act.’
http://news.yahoo.com/s/nm/20080921/bs_nm/financial_bailout_paulson_dc
Bailout Eligibility Expanded to Foreign Institutions
http://calculatedrisk.blogspot.com/..oreign.html
noworldsystem.com 