Feelin' that hope and change yet?
Posted on 02/10/2009 10:10:24 AM PST by Centurion2000
US unveils new $1.5 trillion plan
US Treasury Secretary Timothy Geithner has unveiled a comprehensive $1.5 trillion (£1.02 trillion) bank bail-out plan to beat the financial crisis.
Under the plan, the size of a key Federal Reserve lending program will be expanded to $1 trillion [EM] from $200bn.
In addition, a public-private investment fund of $500bn will be created to absorb banks' toxic assets.
"Right now critical parts of our financial system are damaged," Mr Geithner said.
"Instead of catalyzing recovery, the financial system is working against recovery, and that's the dangerous dynamic we need to change," he added.
Leading US stock indexes fell after Mr Geithner started his speech on the new plan.
Transparency and accountability
Mr Geithner said the new plan should unfreeze the credit market, strengthen banks and "provide critical aid for homeowners and for small businesses".
"And as we do each of these things, we will impose new higher standards for transparency and accountability," he added.
He said that the public-private investment fund to buy up risky assets will be seeded with government money and could be expanded to $1 trillion.
........... see more at link
Story from BBC NEWS: http://news.bbc.co.uk/go/pr/fr/-/2/hi/business/7880969.stm
Published: 2009/02/10 17:10:30 GMT
© BBC MMIX
(Excerpt) Read more at news.bbc.co.uk ...
Swell. I assume this in in addition to the bill passed today?
It goes something like this:
NASA $11 billion per year
Banks $400 billion, then 500 billion, then 850-960 billion,
now TAXCHEAT Geithner adds 1.6 trillion,
and then will add 2 trillion per month, then ....
You see, the “BANK” money is for Geithner, Paulson,
and their friends and fraternity brothers, and
the Congressmen/women and Senate whores who passed it all
with not a shred of accountability or transparency.
Destroying our kids future and killing off the old people faster with health care rationing.
Hope & Change
Trying? They are treasonous self serving bastards.
sw
Bookmarking your post for later.
Yet people complain about the money being spent at NASA..
So many monkey wrenches to throw into the financial system, so little time. /sarc
I’m feeling something.
Woe to the inhabiters of the earth and of the sea! for the devil is come down unto you, having great wrath, because he knoweth that he hath but a short time.
It will be called Porkulus Plus.
Is this in addition to the first stimulus bill, the first mortgage bail out, and the proposed new stimulus bill?
By my calculations the total of all this “stimulus” will amount to about $10,000 for every man, woman, and child in the entire country. Somehow I doubt my family of three will see our $30,000.
If they have a mortgage, they're not a homeOWNER...
=P
Buy the rumor sell on the fact....
Stock Traders Watch Treasury Secretary Geithner
Stocks Fall As Government Unveils Financial Plan
These guy ought to know they cannot do their jobs properly while watching television. So they all watch Geithner and the DOW falls 300 points. They ought to be calling everybody they know and pitching them to 'get into the market - Now!'
It's all the fault of the stock brokers.
LOL, LOL !
And he’s making the best of it, it would appear.
“Keep, don’t people say the national debt doubled after 8 years of Bush?”
Yeah, ‘cause Bush spent a trillion dollars on war. These days, we spend that much on shiny new bathrooms in government buildings. And people who dig holes and fill them in, presumably.
So Zero is going to spend more in one Congress bill than Bush spent in 7 years?
Dear Leader says, "I won!" We respond like that gives him a blank check to loot our country's future.
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