Obama budget has new $750B bank rescue contingency WASHINGTON (AP) -- President Barack Obama anticipates another $750 billion bank bailout this year, a step that would more than double the direct infusion of taxpayer money into the reeling financial sector http://finance.yahoo.com/news/Obama-budget-anticipates-new-apf-14481515.html Lube up and grab those ankles, this reaming isn't over for nearly 4 more years! Better stock up on cases of Vaseline.
Problem Banks: " WASHINGTON, Feb 26 (Reuters) - The number of problem U.S. banks and thrifts rose to 252 in the fourth quarter of 2008, up nearly 50 percent from 171 at the end of the prior quarter, marking the highest number since June 1995, the U.S. Federal Deposit Insurance Corp said on Thursday." http://www.reuters.com/article/governmentFilingsNews/idUSWEQ00072020090226
4 MORE YEARS!!!!!!!!!!! TRY at least a DECADE or more. This problem will continue for more than just 4 years, bernanke saying this recession is going to end in 2009 is a joke. Believe me when I say throwing money at this crisis is the last thing anyone would want to do. The markets will continue to deteriorate.
hmm, which is worse? this stimulus part 3 or spending 1 billion a day in Iraq for the past 5 years? Now THAT was a total waste, we have achieved nothing in IRAQ but casualties and over 1 trillion wasted on the iraqi effort.
Wow, just take the greenback outback and shoot him. Don't even bother downgrading him, just do it fast.
I was asking myself how they would get more money for the banks. Looks like they found a neat solution of putting as a backdoor through the budget, good move