US banks may need more bail-outs, says Ben Bernanke

Telegraph.co.uk ^ | 3.3.09 | By Edmund Conway and Angela Monaghan

[Lady GOP]

US banks may need more bail-outs, says Ben Bernanke Stock markets across the world suffered a second day of turbulence as the Chairman of the Federal Reserve warned that the US Government may have to pour even more cash into the twin bail-outs of its financial and economic systems.

[Walmartian]

Who’s going to bail me out? Me. FUBO

[mo]

Bernanke is stupid, obtuse, confused or desperate. The black holes with the label “bank” on them are so far beyond salvage, there simply is NOT enough treasure and resources in the country to fill them.

See this report...3rd quarter 2008 investment bank derivative exposure.....you have to go all the way down to table 9 ...page 29..to see..very small, fine print,...that notes JP Morgans total derivative exposure of over 87 TRILLION dollars..the top five American investment banks carry a total over 170 TRILLION dollars of derivative exposure.

http://www.occ.gov/ftp/release/2008-152a.pdf

Now...not all these derivative positions are (or probably should say “were” ) necessarily “bad” positions...but they for sure were probably not taken in anticipation of the volatility and declines we’ve seen. In other words...they may well be almost all “bad” at this point. To continue to tie the US Treasury to this mess will take the US Gov’mt under.

[Lady GOP]

National Debt gowing an average of 1.43 billion PER DAY.

Change_Agents

[jwparkerjr]

It's a regular bill that requires passage by both houses and a signature by the President. That being so it could be one place where it might be possible to trip up the Obama process.

My guess is they are trying to keep it quiet because they know how disgruntled taxpayers are getting.

[Colonial Warrior]

Help!!! ZERO and his dummies....

[jwparkerjr]

The last mention I see of the limit being upped was an Oct. 2008 article reporting it had been raised to $10.6 trillion. I think a hike in the limit might have been a part of the huge bailout bill that was recently passed.

I fear we are going to wake up one day soon and find the entire financial foundation of the entire world has collapsed as we slept.

There is simply no way we can continue to pile up the kind of debt we're talking about now. And with Obama admitting he's not worried about what the markets do that debt will just keep climbing.

[dr_who]

Bernanke needs to go. He’s just telling the Democrats whatever they want to hear.

[ding_dong_daddy_from_dumas]

[Prole]

Precisely.

Where is this money going to come from?

We are already trillions in debt, and we are gonna keep going even further into the hole?

What a bunch of damn fools!