Posted on 09/23/2008 1:47:39 PM PDT by LibWhacker
The US government is buying bad debt for $700 billion. Now Washington is asking other countries to jump in and help, too, but the Germans are bowing out. Believing that the rescue package sends the wrong signal, experts from the country's leading economics think tanks argue it's the right call.
It's not a call for assistance; it's a scream for help. US Treasury Secretary Henry Paulson is asking other countries to help buy up bad US debt. The US government is putting up $700 billion in taxpayer money in the hopes that the measure might restore stability in the financial system. Some countries are planning to help. But the German government has answered this call quickly and clearly: no.
(Excerpt) Read more at spiegel.de ...
I guess the world will have to pay for its own defense then. And don’t expect any more help in the future.
Note that Paulson wants to be able to use our money to make Chinese foreign banks whole.
Pathetic INGRATES! Let’s send them a bill for the Berlin Airlift, rebuilding after WWII, protecting their sorry asses from the Soviets, and on and on.
Yes, I guess two wars of aggression and allowing the West Germans to join NATO thus rescuing them from collapse is no reason to help the US.
France and the UK, for the most part, are ingrates, also.
The disease of Liberalism infects Europe, they refuse to support us, but usher in Islam as “diversity” and will eventually be overtaken and slaughtered by the religion of peace...no matter, they are happy to pay for that and want us to be sucked into their insanity.
“Jim, the Klingons are dying.”
“Let them die.”
Hmm, for some reason Europe doesn’t want to ante up for PC bad debts in the US. Why should we be surprised? They’re popping champagne bottles over this. Could it be that they don’t like us? Oh, surely not.
What about the Marshall plan?
What about Europe’s (FORGIVEN) war debt?
What about the tens of thousands of American soldiers buried on soil they died to defend against and wrest from violent aggressors?
Yah, yah, we’ll pay our own debts. The Mohammedans will bury Europe if they don’t wake up soon. We will have to fight there yet again to free them from yet another massive series of political, demographic, and military blunders.
We will suffer for our own economic mistakes. The Easy Money policies of Fannie and Fred in order to empower low income people to purchase homes became a vast redistribution of the wealth scheme. With the buyout, the scheme gives away homes to millions of people who could never have afforded them on their own.
Ok.
At this point, we should consider the “reparations for slavery” bloody well PAID IN FULL by people who had NOTHING AT ALL TO DO with slavery.
Reason #465,312 why Liberal Globalism doesnt work:
Foreigners arent gonna help you when you need it.
No bailout, better a foreign bank crash than America
Europe: The worlds oldest and wrinkliest ungrateful teenagers.
Other countries are not so crazy as to want to bail out the fat cats who like to play “Casino” with our money. Let it fail! Let the sky fall. I am not embarassed at all, for I did not gamble with other people’s money, and I would never, never try to make innocent people to pay for what the careless and goofy people have done. Paulson and the President know no shame!
Have mercy on the American people, who have done no wrong.
I think they’re right. As said in the article, they’ve already paid a price. The world has.
The more money thrown at this, the more is demanded. It’s an insatiable beast.
Haven’t we figured it out YET? - America is Uncle Sucker. Saves the world and finances it, sends unbelievable amounts of foreign aid and individual benevolent donations to Europe and the rest of the world. Remember, “the Yanks are coming over there”, and Uncle Sucker turns the other cheek and continues to help in the face of incredibly contemptuous behavior. - Germans despise any hint of weakness I can tell you from personal experience, and they seem to view generosity as a weakness. My SIL is a German and displays all the unattractive “me first” traits one could imagine, including the passive/aggressive bootheel on the neck tendencies at any opportunity. I’m at the end of my rope with her, and I’m at the end of my rope with a world that “hates America” and rejoices over any setback for us. - KEEP YOUR “HELP”, EUROPE, WE CAN DO WITHOUT IT!
I fully agree. Nor should the world benefit from America’s success.
When the US economy booms, the world benefits. When the US economy sinks, the world’s economy is hurt. Sorry, world. It is what it is. If you don’t like it, then isolate yourselves from us.
I agree fully.
Let me add a subtitle:
bump
Here’s what I don’t understand, is all of the $700 billion going to buy mortgages secured by real property that are in default?
According to the Ben Stein article posted here in the last couple of days, the actual amount of the sub-prime mortgages in default is $250 billion. The other $500 billion is due to credit default swaps.
So are we buying the derivative products as well, or just the mortgages? And is the $250 the total cost of the mortgages, or the amount the mortgages are overvalued by?
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