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Thread: Bailouts could cost U.S. $23 trillion

  1. #21
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    Re: Bailouts could cost U.S. $23 trillion

    Is it time to hang Paulson and Bernake yet?

    [ame=http://www.liveleak.com/view?i=55c_1248286761]LiveLeak.com - Bernanke: ?I Don?t Know? Which Foreign Banks Were Given Half a Trillion Dollars[/ame]
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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by dirtpoorchris View Post
    Why????

    $500 billion is entirely "notional", and hence reflects information used to calculate interest for payment streams.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Goldenboy219 View Post
    Why????

    $500 billion is entirely "notional", and hence reflects information used to calculate interest for payment streams.
    Why? We don't need a reason. Lets just hang um.
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  4. #24
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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Dr_Patrick View Post
    I don't know why the Obama Administration seems to think that the US has a bottomless pocket book. I don't see how this could possibly end good and what's worse is that a lot of the people cheering this most likely either have little to no understanding about the possible ramifications or they just don't care.
    Nobody is "cheering this", and this article was mostly chicken little fear mongering.

    (Most of these bailout programs were started under Bush, btw.)

    But this is really "worst case scenario" --If absolutely nothing works and we head into a depression.

    If the worst actually happened, the country would basically have to start over anyway, so this "23 trillion" is virtually meaningless.

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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by dirtpoorchris View Post
    Why? We don't need a reason. Lets just hang um.
    Bernanke has proved to be a critical player in an economic recovery. Of course, that is just my opinion....
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Bailouts could cost U.S. $23 trillion

    Big Estimate, Worth Little, on Bailout
    NY Times
    But in the report accompanying his testimony, Mr. Barofsky conceded the number was vastly overblown. It includes estimates of the maximum cost of programs that have already been canceled or that never got under way.

    It also assumes that every home mortgage backed by Fannie Mae or Freddie Mac goes into default, and all the homes turn out to be worthless. It assumes that every bank in America fails, with not a single asset worth even a penny. And it assumes that all of the assets held by money market mutual funds, including Treasury bills, turn out to be worthless.

    It would also require the Treasury itself to default on securities purchased by the Federal Reserve system.

    The sheer unreality of the number did not stop some members of Congress from taking the estimate seriously.
    That is a lot of "what ifs" and worse case scenarios to happen all at once.

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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Joe1991 View Post
    Nobody is "cheering this", and this article was mostly chicken little fear mongering.

    (Most of these bailout programs were started under Bush, btw.)

    But this is really "worst case scenario" --If absolutely nothing works and we head into a depression.

    If the worst actually happened, the country would basically have to start over anyway, so this "23 trillion" is virtually meaningless.



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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Reverend_Hellh0und View Post
    Most? Are you sure?
    Yes, here's a list of the bailout programs, almost all were begun before Jan 09, when obama took over:

    Follow the money: Bailout tracker - CNNMoney.com

    TARP, AIG, bank takeovers, bailing out FHA, Fannie and Freddie, the Economic Stimulus Act of 2008 and bailouts by the Fed began under Bush.


    Obama's big ones were the autmomakers(which Bush and McCain were for) and the American Recovery and Reinvestment Act.

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    Re: Bailouts could cost U.S. $23 trillion

    Quote Originally Posted by Joe1991 View Post
    Yes, here's a list of the bailout programs, almost all were begun before Jan 09, when obama took over:

    Follow the money: Bailout tracker - CNNMoney.com

    TARP, AIG, bank takeovers, bailing out FHA, Fannie and Freddie, the Economic Stimulus Act of 2008 and bailouts by the Fed began under Bush.


    Obama's big ones were the autmomakers(which Bush and McCain were for) and the American Recovery and Reinvestment Act.



    Can you add up the totals or are you avoiding doing that for a reason?

    Bush was no better, obama saw him, and raised him.
    Let evil swiftly befall those who have wrongly condemned us

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    Re: Bailouts could cost U.S. $23 trillion

    Hey, it's only money, and the Good Reverend has so much of it.
    "He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)
    "Fly-over" country voted, and The Donald is now POTUS.

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