Posted on 01/29/2009 10:52:56 AM PST by NormsRevenge
WASHINGTON (Reuters) – The cost of the government setting up a "bad bank" to buy up toxic assets from struggling U.S. banks could range as high as $4 trillion, according to some experts, Sen. Charles Schumer said on Thursday.
...
"I've talked to various experts. The estimates vary, from one to four," the Senate Banking Committee member said.
Asked if banks need $2 trillion to $3 trillion in additional bailout funds, Schumer said: "No, not necessarily."
(Excerpt) Read more at news.yahoo.com ...
Ah, one of the guilty who are responsible for this mess speaks.
And that can even go up another trillion dollars if Chuckie opens his mouth about more non-New York banks.
Oh, by all means, let’s buy those toxic assets with US Tax dollars. Protect those poor bankers but F everybody else.
Right. They could just let the whole thing collapse. Then you'll have more things to bitch about.
Well, actually, the derivative mess has gotten WORSE, not better. Instead of unwinding these toxic instruments, the “bad banks” have been getting in deeper and deeper.
The total amount of derivatives outstanding has now risen to 683 trillion dollars.
Lots of luck dealing with that.
LOL!
The bank debt estimate that is going to be laid on the uS treasury- is inching up....
no honesty, no transparency
Where is Hank Paulson????
It beats handing over trillions of tax dollars to an overpriveledged institution that suufers from an over inflated sense of entitlement. Hell, let’s give our children $100 for every F they earn in school while we’re at it and then we’ll see how many A grades they get after that.
Or we could pour 4 trillion in (as if) and then it will collapse anyway
then we can bitch together
While they're at it, why not recycle some of those old Blaxploitation theme songs to get the stupid tax payers to make deposits in "Obama's bank of SuperBad"!
Which is exactly what they ought to do.
L
So you're in favor of the disappearance of the payments system? You're sure about that?
And we were horrified.
Someone with knowledge could tell me whether those loans were paid off with assets.
Which is exactly what they ought to do.
Which is also what your moniker "the invisible hand" implies ought to be done:)
***Lots of luck dealing with that.***
Question: What is the Jubilee Year in Judaism?
Answer: It is written in the Torah, “You shall sanctify the 50th year and proclaim freedom throughout the land for all its inhabitants; it shall be the Jubilee year for you, you shall return each person to his ancestral heritage and you shall return each to his family. It shall be a Jubilee Year for you - the 50th year - you shall not sow, you shall not harvest its after-growth and you shall not pick what was set aside of it for yourself. For it is a Jubilee Year, it shall be holy to you; from the field you eat its crop.” (Leviticus 25:10-13)
Basically, these verses indicate that the Jubilee requires all debts between Jews to be annulled.
http://judaism.about.com/od/prayersworshiprituals/f/jubilee.htm
Acting on that principle, Bernard Madoff decided to hold a one-man Jubilee last year. ;)
“The total amount of derivatives outstanding has now risen to 683 trillion dollars.”
The only way for that to be true is that the same bad assets have to be on multible sets of books. Yes? So instead of lessening the risk spreading it around, they were, in fact, multiplying the damage.
Cause they are too busy giving us the Shaft..
Yeah, ya' scmuck, they sure are...you and your leftists friends in the House & Senate created this whole mess.
Highly oversimplified, perhaps.
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