Question.

[Cant_Be_Faded]

The money to bail out Fannie and Freddie, and now the billions to bail out AIG. Where the fuck is this money coming from? I don't have all day and night to read up on this shit, but I've tried here and there with absolutely no luck.

Where's this fucking money coming from? A recent article says the Fed is bailing out AIG. So is this money the Fed was sitting on, or are they borrowing it?

An answer with links would be greatly appreciated.

[Nbadan]

No big mystery ....the government is simply printing it.....which could also have a lot to do with why they failed to lower interest rates this week...

[Cant_Be_Faded]

So we are printing all of it or some of it?

[Nbadan]

Well...we sell long-term treasuries and bonds to help pay for some it, but a large chunk of it is simply new money injected into the system - that's why inflation is such a risk...

[2centsworth]

CBF, the government is loaning AIG the money, but like with any loan there's a risk of default. However, most of the cash is being used to meet collateral requirements and not for operations.

as far as fannie mae, there will be loses, but not nearly as much as if they were allowed to fail. the money for FNMA and FMAC will come from taxpayers.

[Nbadan]

CBF, the government is loaning AIG the money, but like with any loan there's a risk of default. However, most of the cash is being used to meet collateral requirements and not for operations.

That maybe kinda true but all that is required is a simple accounting maneuver for this money to go from 'collateral requirements' to 'operating expenses'...

[Cant_Be_Faded]

Pretty lame.

[Aggie Hoopsfan]

Pretty lame.

And both our presidential candidates want to pass a second stimulus package that among other things will pony up $250 billion in government bailouts to the auto industry up in Michigan.

The American dollar, going the way of the peso. Thanks D.C. :tu

[whottt]

CBF...

Take out your wallet
Open it
Look inside it


That's where the money is going to come from.

It is not a case of the government just printing money...make no mistake about it, that money is going to come from us.


Remember that as Obama is talking about all the new shit he is going to be funding with taxes on every fucking thing it is possible to tax.

His economic plan is a sham that is impossible to achieve.




Before any of you guys blame the government or the lenders entirely for this...be sure to save some of that blame for your fellow Americans that lied on their fraudulent loan applications to buy houses they couldn't afford with variable interest rates...and then remortgaged them.


There is plenty of blame to go around...including some for the American people. The government is not going to blame the people, because they'll get voted on their asses, so the Republicans and the Democrats will blame each other...but the American people are hugely to blame for this....at least one third of the blame goes to them.

[Xylus]

Shoulda voted Ron Paul.

[SnakeBoy]

AIG is a different animal than Fannie/Freddie or Lehman. This will be a bridge loan to give the company time to recover. From what I've read the goverment will get 80% share in the company which means shareholders get screwed, the execs that fucked up the company will get sweet severance packages, and I guess the government gets in the business of running private businesses.

Video isn't up yet but Charlie Rose had former AIG CEO on tonight. Worth watching once they put it up.
http://www.charlierose.com/shows/2008/09/16/1/a-conversation-with-maurice-greenberg

[whottt]

Some of the biggest contributors to the Obama Campaign:

Lehman Brothers $370,524
Freddie Mac/Fannie May $123,000
Google Inc $420,174<------
Microsoft Corp $377,235<-------- These 3 groups overwrote the internet in a day after Sarah Palin was nominated VP.
Moveon.org $347,463<------
Time Warner $338,527 <----- That's CNN btw.


Hint: They're not bankrolling him to benefit the poor people. They're buying the greedy poor people at bottom dollar.

Hint #2: Libs go after young voters because old voters aren't stupid. You'll understand someday.

[KenMcCoy]

Before any of you guys blame the government or the lenders entirely for this...be sure to save some of that blame for your fellow Americans that lied on their fraudulent loan applications to buy houses they couldn't afford with variable interest rates...and then remortgaged them.


There is plenty of blame to go around...including some for the American people. The government is not going to blame the people, because they'll get voted on their asses, so the Republicans and the Democrats will blame each other...but the American people are hugely to blame for this....at least one third of the blame goes to them.

:toast These morons were the ones picketing outside of one of mccain's homes yesterday. If you can't afford something don't buy it!!! What part of adjustable rate is that difficult to understand???




Protesters To Build "tent City" Outside McCain Condo

By Martin Kady II


Sep 15, 2008


(The Politico) John McCain has taken plenty of heat for not being sure how many houses he owns.

Now liberal activists are going to target one of those homes _ his Crystal City, Va. luxury condo _ with a protest tomorrow in which they plan to build a "tent city" outside the condo building.

The protest is being organized by "Change to Win," a coalition of some of the nation's largest unions, and the plan is for laid off workers to build a faux tent city outside of McCain's condo building to protest his opposition to more generious housing relief laws.

From a statement the group put out this morning: "Nearly 100 workers will join together tomorrow to call on Senator John McCain to change his position on housing relief and open his home to families facing foreclosure at a protest outside his luxury condo in Crystal City, VA. The protest will culminate with the construction of a tent city across the street from McCain’s condo. Workers from Ohio, Michigan, and Virginia will be on hand to tell their personal foreclosure, layoff, and medical bankruptcy stories."


http://www.cbsnews.com/stories/2008/09/15/politics/politico/thecrypt/main4449263.shtml


seriously...if these idiots still have jobs the gov't should garnish their wages to pay off the Fannie/Freddie debacle.

[florige]

Well...we sell long-term treasuries and bonds to help pay for some it, but a large chunk of it is simply new money injected into the system - that's why inflation is such a risk...


I always wondered how that worked.