Lucille
01-29-2009, 08:31 AM
New Bank Bailout Could Cost $2 Trillion (http://online.wsj.com/article/SB123319689681827391.html)
A Treasury spokeswoman said that "while lots of options are on the table, there are no final decisions" on what she described as a "comprehensive plan." She added: "The president has made it clear that he'll do whatever it takes to stabilize our financial system so that we can get credit flowing again to families and businesses."
Treasury Secretary Timothy Geithner said Wednesday that he wants to avoid nationalizing banks if possible. "We'd like to do our best to preserve that system," Mr. Geithner said. But given the weakened state of the banking industry, with bank share prices low and their capital needs high, economists say the government probably can't avoid owning at least some banks for a temporary period.
In related news:
Steve Forbes: Federal Reserve - Intentionally Causing Economic Crisis! (http://www.youtube.com/watch?v=GFxZDTAXEhg) (Oct. 2008)
Updated iTulip vid: Fed Reserve Fails to Reflate the US Banking System V2 (http://www.youtube.com/watch?v=aeb247Vc1eY)
"Government is the only agency that can take a valuable commodity like paper, slap some ink on it, and make it totally worthless."
--Ludwig von Mises
"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
--Henry Ford
"The money power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its REIGN by working upon the prejudices of the people until the wealth is aggregated in a few hands and the Republic is destroyed."
--President Abraham Lincoln
A Treasury spokeswoman said that "while lots of options are on the table, there are no final decisions" on what she described as a "comprehensive plan." She added: "The president has made it clear that he'll do whatever it takes to stabilize our financial system so that we can get credit flowing again to families and businesses."
Treasury Secretary Timothy Geithner said Wednesday that he wants to avoid nationalizing banks if possible. "We'd like to do our best to preserve that system," Mr. Geithner said. But given the weakened state of the banking industry, with bank share prices low and their capital needs high, economists say the government probably can't avoid owning at least some banks for a temporary period.
In related news:
Steve Forbes: Federal Reserve - Intentionally Causing Economic Crisis! (http://www.youtube.com/watch?v=GFxZDTAXEhg) (Oct. 2008)
Updated iTulip vid: Fed Reserve Fails to Reflate the US Banking System V2 (http://www.youtube.com/watch?v=aeb247Vc1eY)
"Government is the only agency that can take a valuable commodity like paper, slap some ink on it, and make it totally worthless."
--Ludwig von Mises
"It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."
--Henry Ford
"The money power preys upon the nation in times of peace and conspires against it in times of adversity. It is more despotic than monarchy, more insolent than autocracy, more selfish than bureaucracy. I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its REIGN by working upon the prejudices of the people until the wealth is aggregated in a few hands and the Republic is destroyed."
--President Abraham Lincoln