Government bailout explained in pictures
- Thread starter Joe Contrarian
- Start date
brucefan
EOG Dedicated
Re: Government bailout explained in pictures
More monopoly money going down the rathole
$400 Billion
<HR style="COLOR: #d1d1e1" SIZE=1><!-- / icon and title --><!-- message --><!-- message -->http://www.bloomberg.com/apps/news?p...d=a2Z5GnTAPcuo
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<TABLE cellSpacing=0 cellPadding=5 width="100%" border=0><TBODY><TR><TD class=alt2 style="BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px inset">Dec. 31 (Bloomberg) -- Taxpayer losses from supporting Fannie Mae and Freddie Mac will top $400 billion, according to Peter Wallison, a former general counsel at the Treasury who is now a fellow at the American Enterprise Institute.
?The situation is they are losing gobs of money, up to $400 billion in mortgages,? Wallison said in a Bloomberg Television interview. The Treasury Department recognized last week that losses will be more than $400 billion when it raised its limit on federal support for the two government-sponsored enterprises, he said.
The U.S. seized the two mortgage financiers in 2008 as the government struggled to prevent a meltdown of the financial system. The debt of Fannie Mae, Freddie Mac and the Federal Home Loan Banks grew an average of $184 billion annually from 1998 to 2008, helping fuel a bubble that drove home prices up by 107 percent between 2000 and mid-2006, according to the S&P/Case- Shiller home-price index.
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<EMBED src=http://www.youtube.com/v/y4A0RuXhnQA&hl=en_US&fs=1&rel=0 width=425 height=344 type=application/x-shockwave-flash allowscriptaccess="always" allowfullscreen="true"></EMBED>
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More monopoly money going down the rathole
$400 Billion
<HR style="COLOR: #d1d1e1" SIZE=1><!-- / icon and title --><!-- message --><!-- message -->http://www.bloomberg.com/apps/news?p...d=a2Z5GnTAPcuo
Quote:
<TABLE cellSpacing=0 cellPadding=5 width="100%" border=0><TBODY><TR><TD class=alt2 style="BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px inset">Dec. 31 (Bloomberg) -- Taxpayer losses from supporting Fannie Mae and Freddie Mac will top $400 billion, according to Peter Wallison, a former general counsel at the Treasury who is now a fellow at the American Enterprise Institute.
?The situation is they are losing gobs of money, up to $400 billion in mortgages,? Wallison said in a Bloomberg Television interview. The Treasury Department recognized last week that losses will be more than $400 billion when it raised its limit on federal support for the two government-sponsored enterprises, he said.
The U.S. seized the two mortgage financiers in 2008 as the government struggled to prevent a meltdown of the financial system. The debt of Fannie Mae, Freddie Mac and the Federal Home Loan Banks grew an average of $184 billion annually from 1998 to 2008, helping fuel a bubble that drove home prices up by 107 percent between 2000 and mid-2006, according to the S&P/Case- Shiller home-price index.
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Re: Government bailout explained in pictures
This chimp is destroying the U.S economy. Barry Soetoro is his legal name. He is an Indonesian citizen. Birthplace is Mombasa.
For most of his adult life he has listened to a raving racist spewing hate for white people and the United States of America.
After his muslim brother tries to blow up a plane with 293 on board, the terrorist said there was many more like him ready to blow up planes. Instead of being interrogated by the FBI/CIA to give up the names of those people, Obama's muslim brother lawyered up as per the new policy in this chimp's administration.
This chimp is destroying the U.S economy. Barry Soetoro is his legal name. He is an Indonesian citizen. Birthplace is Mombasa.
For most of his adult life he has listened to a raving racist spewing hate for white people and the United States of America.
After his muslim brother tries to blow up a plane with 293 on board, the terrorist said there was many more like him ready to blow up planes. Instead of being interrogated by the FBI/CIA to give up the names of those people, Obama's muslim brother lawyered up as per the new policy in this chimp's administration.
brucefan
EOG Dedicated
Re: Government bailout explained in pictures
Amazing that people are not grabbing their pitchforks and marching on washington ..... everyday
SEC Orders AIG Info Sealed Until November... 2018! :+clueless
<HR style="COLOR: #a93c3c; BACKGROUND-COLOR: #a93c3c" SIZE=1><!-- / icon and title --><!-- message -->* SEC agreed with AIG to keep some bailout terms sealed
* SEC granted "confidential treatment" last May
* Secrecy order stays in place until November 2018
By Matthew Goldstein
NEW YORK, Jan 11 (Reuters) - It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group (AIG.N) because of an action taken last year by the Securities and Exchange Commission.
In May, the SEC approved a request by AIG to keep secret an exhibit to a year-old regulatory filing that includes some of the details on the most controversial aspect of the AIG bailout: the funneling of tens of billions of dollars to big banks like Societe Generale, Goldman Sachs (GS.N), Deutsche Bank (DBKGn.DE) and Merrill Lynch.
The SEC's Division of Corporation Finance, in granting AIG's request for confidential treatment, said the "excluded information" will not be made public until Nov. 25, 2018, according to a copy of the agency's May 22 order.
The SEC said the insurer had demonstrated the information in the exhibit, called Schedule A, "qualifies as confidential commercial or financial information."
http://www.reuters.com/article/idUSN1116982020100111
<!-- / message --><!-- sig -->:fuck:
Amazing that people are not grabbing their pitchforks and marching on washington ..... everyday
SEC Orders AIG Info Sealed Until November... 2018! :+clueless
<HR style="COLOR: #a93c3c; BACKGROUND-COLOR: #a93c3c" SIZE=1><!-- / icon and title --><!-- message -->* SEC agreed with AIG to keep some bailout terms sealed
* SEC granted "confidential treatment" last May
* Secrecy order stays in place until November 2018
By Matthew Goldstein
NEW YORK, Jan 11 (Reuters) - It could take until November 2018 to get the full story behind the U.S. bailout of insurance giant American International Group (AIG.N) because of an action taken last year by the Securities and Exchange Commission.
In May, the SEC approved a request by AIG to keep secret an exhibit to a year-old regulatory filing that includes some of the details on the most controversial aspect of the AIG bailout: the funneling of tens of billions of dollars to big banks like Societe Generale, Goldman Sachs (GS.N), Deutsche Bank (DBKGn.DE) and Merrill Lynch.
The SEC's Division of Corporation Finance, in granting AIG's request for confidential treatment, said the "excluded information" will not be made public until Nov. 25, 2018, according to a copy of the agency's May 22 order.
The SEC said the insurer had demonstrated the information in the exhibit, called Schedule A, "qualifies as confidential commercial or financial information."
http://www.reuters.com/article/idUSN1116982020100111
<!-- / message --><!-- sig -->:fuck:
ACCC
2
Re: Government bailout explained in pictures
Everyone knows the bailouts were corrupt and wasteful. But to all of the right-wing posters on here, your Republicans (including Bush, McCain, and Palin) supported the bailouts from the start. It was Bush and Paulson who started the same thing with Goldman Sachs and the other banks. Obama is far from innocent, as he has continued and expanded this policy, but I didn't see many anti-bailout posts from the right when it was Bush and McCain in support of these policies.
Everyone knows the bailouts were corrupt and wasteful. But to all of the right-wing posters on here, your Republicans (including Bush, McCain, and Palin) supported the bailouts from the start. It was Bush and Paulson who started the same thing with Goldman Sachs and the other banks. Obama is far from innocent, as he has continued and expanded this policy, but I didn't see many anti-bailout posts from the right when it was Bush and McCain in support of these policies.
brucefan
EOG Dedicated
Re: Government bailout explained in pictures
Wrong, most were screaming as loud as they could against this heist , and McCain proved to be a fraud for not standing against it
Wrong, most were screaming as loud as they could against this heist , and McCain proved to be a fraud for not standing against it
Re: Government bailout explained in pictures
Nope, most conservatives opposed the bailouts from the very beginning since the sub prime mortgage crisis was government engineered. Moreover, it was obvious the Bush bailout was setting the table for massive government takeovers under Obama.
I'm convinced McCain would have won the election had he taken a principled stand against this type of fiscal insanity. But alas...
"I'm not an expert on economics"
-- John McCain
You got that right. 2938u4ji23
ACCC, only the free market can provide the level of prosperity and equality you desire, not the government. Government, by it's nature is corrupt, inefficient and ineffective -- political power is always at the mercy of the most powerful political interests, never the "little guy" you claim to support. The private sector is much better at redistributing wealth and raising the standard of living than any political system.
25 years ago cell phones looked like miniature suitcases and cost several thousand dollars. Only the wealthy could afford them. Today, the poorest of the poor own cell phones. That's the free market, not government mandates.
Imagine if back in the 80s the socialists had declared cell phones a "human right", meaning everyone got a "free" cell phone, and the government imposed arbitrary standards, instead of allowing the market to innovate and prosper. You'd have virtually no R&D, because, let's face it, innovation is messy and not compatible with the political world of instant gratification and instant results.
So the result would have been everyone owning a piece of shit like this:
If there's any good to come from this train wreck of a presidency, it is to remind us that government is not the solution to our problems, government IS the problem.
Nope, most conservatives opposed the bailouts from the very beginning since the sub prime mortgage crisis was government engineered. Moreover, it was obvious the Bush bailout was setting the table for massive government takeovers under Obama.
I'm convinced McCain would have won the election had he taken a principled stand against this type of fiscal insanity. But alas...
"I'm not an expert on economics"
-- John McCain
You got that right. 2938u4ji23
ACCC, only the free market can provide the level of prosperity and equality you desire, not the government. Government, by it's nature is corrupt, inefficient and ineffective -- political power is always at the mercy of the most powerful political interests, never the "little guy" you claim to support. The private sector is much better at redistributing wealth and raising the standard of living than any political system.
25 years ago cell phones looked like miniature suitcases and cost several thousand dollars. Only the wealthy could afford them. Today, the poorest of the poor own cell phones. That's the free market, not government mandates.
Imagine if back in the 80s the socialists had declared cell phones a "human right", meaning everyone got a "free" cell phone, and the government imposed arbitrary standards, instead of allowing the market to innovate and prosper. You'd have virtually no R&D, because, let's face it, innovation is messy and not compatible with the political world of instant gratification and instant results.
So the result would have been everyone owning a piece of shit like this:
If there's any good to come from this train wreck of a presidency, it is to remind us that government is not the solution to our problems, government IS the problem.
ACCC
2
Re: Government bailout explained in pictures
That's something we can agree on. I have posted that before, and I also would have voted for McCain had he not been as submissive as Obama and Bush in terms of bailing out Wall Street. It was an easy way for McCain to distinguish himself since Obama didn't really offer any concrete policies on economics or foreign policy.
That's something we can agree on. I have posted that before, and I also would have voted for McCain had he not been as submissive as Obama and Bush in terms of bailing out Wall Street. It was an easy way for McCain to distinguish himself since Obama didn't really offer any concrete policies on economics or foreign policy.
ACCC
2
Re: Government bailout explained in pictures
Almost every EOG post from the right is "chimp," socialist, Marxist, Kenyan, etc. There was definitely not the widespread right-wing criticism of Bush at the time, despite Obama continuing the same Bush policies. I personally don't recall very much criticism of what you consider big government under the Bush administration, and I also don't recall anyone from the right complaining about McCain's bailout support at the time.
I will take your word that at least some of the right wing posters on here were complaining, but it was nothing like it is now. I do remember that Republicans in Congress were less into the bailout than the Democrats, but I didn't see very much of that sentiment on here.
Almost every EOG post from the right is "chimp," socialist, Marxist, Kenyan, etc. There was definitely not the widespread right-wing criticism of Bush at the time, despite Obama continuing the same Bush policies. I personally don't recall very much criticism of what you consider big government under the Bush administration, and I also don't recall anyone from the right complaining about McCain's bailout support at the time.
Re: Government bailout explained in pictures
ACCC, why do you continue to have faith in politicians always beholden to the highest bidder and not the free market?
In a free market, YOU choose what goods are right for you and your family.
Under socialism, the ruling class makes those decisions for you. And btw, the ruling class always makes certain it doesn't have to live under their own Utopian schemes.
Once upon a time only the wealthiest families who could afford servants weren't forced to wash their own clothes. Then along came an invention called the dishwasher. Today, millions upon millions of ordinary people enjoy the luxury of having their clothes washed at the touch of a button.
Can you name a single government program which has elevated the standard of living for the middle class as much as this one measly appliance? And that's just one product....there are thousands of others.
Think the best government engineers in the country could assemble in a lab and invent an appliance like the dishwasher? What for? What would their political masters gain from such a misadventure (see the old Soviet apparatchiks).
Folks, you think you want "free" government-run health care? You don't know what you're wishing for. You're wishing for a unicorn that craps Skittles.
Modern liberalism is an incoherent ideology. Just follow the current Democrat health care train wreck to it's logical conclusion and you end up with nothing but widespread misery and national bankruptcy.
Give this socialist credit, at least he's honest (unlike the Kenyan):
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ACCC, why do you continue to have faith in politicians always beholden to the highest bidder and not the free market?
In a free market, YOU choose what goods are right for you and your family.
Under socialism, the ruling class makes those decisions for you. And btw, the ruling class always makes certain it doesn't have to live under their own Utopian schemes.
Once upon a time only the wealthiest families who could afford servants weren't forced to wash their own clothes. Then along came an invention called the dishwasher. Today, millions upon millions of ordinary people enjoy the luxury of having their clothes washed at the touch of a button.
Can you name a single government program which has elevated the standard of living for the middle class as much as this one measly appliance? And that's just one product....there are thousands of others.
Think the best government engineers in the country could assemble in a lab and invent an appliance like the dishwasher? What for? What would their political masters gain from such a misadventure (see the old Soviet apparatchiks).
Folks, you think you want "free" government-run health care? You don't know what you're wishing for. You're wishing for a unicorn that craps Skittles.
Modern liberalism is an incoherent ideology. Just follow the current Democrat health care train wreck to it's logical conclusion and you end up with nothing but widespread misery and national bankruptcy.
Give this socialist credit, at least he's honest (unlike the Kenyan):
<object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/IT7Y0TOBuG4&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/IT7Y0TOBuG4&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
ACCC
2
Re: Government bailout explained in pictures
First of all, I don't have faith in any of the politicians, and you are right that they are beholden to elite interests such as Goldman Sachs, insurance companies, etc. The reason universal health care failed is because of these special interests and not anything wrong with liberal ideology. Just because the reality is that politicians are submissive to corporate interests doesn't mean that a liberal ideology that favors universal health care is something bad. It might not be practical in the current US political system.
Other countries manage with universal health care, which is done in a public way that is affordable and not submissive to insurance companies. The Obama bill is a disaster because it is not really reform and is only on the side of the insurance companies. The caps on profits are only symbolic and there is no public option. The Democrats just wanted to say they did something, even if there was no real change to anything.
First of all, I don't have faith in any of the politicians, and you are right that they are beholden to elite interests such as Goldman Sachs, insurance companies, etc. The reason universal health care failed is because of these special interests and not anything wrong with liberal ideology. Just because the reality is that politicians are submissive to corporate interests doesn't mean that a liberal ideology that favors universal health care is something bad. It might not be practical in the current US political system.
Other countries manage with universal health care, which is done in a public way that is affordable and not submissive to insurance companies. The Obama bill is a disaster because it is not really reform and is only on the side of the insurance companies. The caps on profits are only symbolic and there is no public option. The Democrats just wanted to say they did something, even if there was no real change to anything.
Re: Government bailout explained in pictures
Yes, you do have a faith in politicians -- you think Hillary would actually be a doing a better job than Obama with the same career government hacks?
No country with "universal health care" is on a sustainable path. Of course, the American system is also destined to crash, but only the govt sectors (Medicaid, Medicare, the VA etc.) not the private ones subjected to market forces.
I guess all those high tech MRI machines and new drugs are being invented in Sweden and France, right?
Yes, you do have a faith in politicians -- you think Hillary would actually be a doing a better job than Obama with the same career government hacks?
No country with "universal health care" is on a sustainable path. Of course, the American system is also destined to crash, but only the govt sectors (Medicaid, Medicare, the VA etc.) not the private ones subjected to market forces.
I guess all those high tech MRI machines and new drugs are being invented in Sweden and France, right?
ACCC
2
Re: Government bailout explained in pictures
Hillary would be better, but she did not get the opportunity because Wall Street was behind Obama. There was too much money and power behind Obama for her to get in. At least Hillary had experience and seemed to have a mind of her own. Obama was vague, evasive, inexperienced, and unqualified. I never liked him and regret voting for him (not that 1 vote matters), but I thought McCain would be worse on foreign policy. Never again with Obama and I would vote for Palin before I would ever vote for Obama again.
Hillary would be better, but she did not get the opportunity because Wall Street was behind Obama. There was too much money and power behind Obama for her to get in. At least Hillary had experience and seemed to have a mind of her own. Obama was vague, evasive, inexperienced, and unqualified. I never liked him and regret voting for him (not that 1 vote matters), but I thought McCain would be worse on foreign policy. Never again with Obama and I would vote for Palin before I would ever vote for Obama again.
brucefan
EOG Dedicated
Re: Government bailout explained in pictures
Still leaking oil
I love how they wait until late on friday to release this news
Fannie Mae asks for $2.5 billion in new US aid<CITE>- AP</CITE>
QE 3, 4, 5, .......2348ji23e
Still leaking oil
I love how they wait until late on friday to release this news
Fannie Mae asks for $2.5 billion in new US aid<CITE>- AP</CITE>
QE 3, 4, 5, .......2348ji23e