Wealth on the public dole
bear...@cruller.invalid
Street, announced Friday that it will pump as much money as needed into
the U.S. financial system to help overcome the ill effects of a
spreading credit crunch.
The Fed, in a short statement, said it will provide "reserves as
necessary" to help the markets safely make their way. The central bank
did not provide details but said it would do all it can to "facilitate
the orderly functioning of financial markets."
The Fed pushed $38 billion in temporary reserves into the system Friday,
on top of a similar move the day before.
bear...@cruller.invalid
bear...@cruller.invalid wrote:
more at:
http://www.forbes.com/feeds/ap/2007/08/10/ap4008288.html
While reading the story, ask yourself:
Where is all this money-- essentially welfare for the rich-- coming from?
Who is getting it? (don't be fooled by bank names and institutions; look
at the individuals who will be receiving these funds)
Why are *they* getting it, instead of those in danger of losing their
homes? (considering that "they" are the ones who created the mess to
begin with)
If "greed is good", the creed of contemporary America, then greed
sanctioned by government fiat, enforced by government policies and
protected at its most extreme by government force, is even better. Are
you getting yours? Now you know why bankruptcy protections were all but
stolen from middle class people while remaining in place for those with
the most to protect. Yes, it certainly was a plot. No, it wasn't hard to
predict. Yes, consumers are spineless rubes.
Bill
>
> Who is getting it? (don't be fooled by bank names and institutions; look
> at the individuals who will be receiving these funds)
>
Let's get this pecking order correct here...
Now how much "campaign money" have you given to those in Washington?
How much "campaign money" have the above banks, etc. given?
bear...@cruller.invalid
"Bill" <bill19...@yahoo.com> wrote:
Who is getting the money? Well, they are real flesh-and-blood people
just like you. They have names and families and pets, just like you.
They have mortgages, just like you. They have bills and worries, just
like you.
Unlike you, though, they also have more of YOUR money than you do.
clams casino
They certainly are not like me as I have no debt / no need to borrow,
but you are likely correct in that they have way more money than I..
clams casino
>WASHINGTON (AP) ‹ The Federal Reserve, trying to calm turmoil on Wall
I not sure how pumping money into the economy helps the current loan
problems.
Those with good credit continue to have no problems getting loans. Those
who have poor credit are not getting loans where an increased money
supply likely has little effect on whether a bank, etc will be willing
to take on a high risk borrower in today's market.
Furthermore, the real problem today is mortgage defaults where more
money supply is not going to help those who are over their heads with
high ARMs. As for the hedge funds who speculated in high risk loans, why
should the government bail them out?
George
> WASHINGTON (AP) ‹ The Federal Reserve, trying to calm turmoil on Wall
Nothing new, lots of wealthy companies are welfare queens.
Right down the road from me we (the taxpayers) are leveling a mountain
for a new Walmart. They have an existing store not far away where we did
the same thing not a long time ago. We also put in the access road,
utilities and gave them a 9 year tax exemption. The only reason they are
moving is the tax exemption is about to expire.
hchi...@hotmail.com
wrote:
>bear...@cruller.invalid wrote:
>> WASHINGTON (AP) ? The Federal Reserve, trying to calm turmoil on Wall
Yeah. People in part of Alabama are paying a special gas tax for
(drumroll please....)
A state financed golf course. (no joke)
The Fed had a choice of lowering the interest rate and fueling
continued speculation and inflation in the home market, or doing this.
It probably is the lesser evil of the available correctives. It may
take the edge off the pain, but I suspect we still will have some
economic challenges ahead.
Anyway, the subject is borderline OT. We all know that MCFL is for
the posting of Google blogpot spam, Rod Speed Screeds, and offers from
Pakistan.
qwrt
> In article <bearclaw-902DC4...@news.supernews.com>,
> bear...@cruller.invalid wrote:
>
>> Street, announced Friday that it will pump as much money as needed
>> into the U.S. financial system to help overcome the ill effects of a
>> spreading credit crunch.
>>
>> The Fed, in a short statement, said it will provide "reserves as
>> necessary" to help the markets safely make their way. The central
>> bank did not provide details but said it would do all it can to
>> "facilitate the orderly functioning of financial markets."
>>
>> The Fed pushed $38 billion in temporary reserves into the system
>> Friday, on top of a similar move the day before.
>
> more at:
>
> http://www.forbes.com/feeds/ap/2007/08/10/ap4008288.html
>
> While reading the story, ask yourself:
> Where is all this money-- essentially welfare for the rich--
No it isnt. Its just increasing liquidity, just like happened post 9/11.
> coming from?
The word 'reserve' is there for a reason.
> Who is getting it? (don't be fooled by bank names and institutions;
> look at the individuals who will be receiving these funds)
There are no individuals receiving those funds.
> Why are *they* getting it, instead of those in danger of losing their homes?
It isnt goint to those who are losing their homes.
> (considering that "they" are the ones who created the mess to begin with)
Thats arguable too. You can make a case that its the financial institutions
that were stupid enough to produce that securitization of sub prime loans
and the regulatory system that allowed that terminal stupidity.
> If "greed is good", the creed of contemporary America, then greed
> sanctioned by government fiat, enforced by government policies and
> protected at its most extreme by government force, is even better.
Mindless stuff, just like the mindless rant above.
> Are you getting yours? Now you know why bankruptcy protections
> were all but stolen from middle class people while remaining in place
> for those with the most to protect. Yes, it certainly was a plot. No, it
> wasn't hard to predict. Yes, consumers are spineless rubes.
Thanks for that completely superfluous proof that you
have never ever had a clue about anything at all, ever.
qwrt
>> Street, announced Friday that it will pump as much money as needed
>> into the U.S. financial system to help overcome the ill effects of a
>> spreading credit crunch.
>>
>> The Fed, in a short statement, said it will provide "reserves as
>> necessary" to help the markets safely make their way. The central
>> bank did not provide details but said it would do all it can to
>> "facilitate the orderly functioning of financial markets."
>>
>> The Fed pushed $38 billion in temporary reserves into the system
>> Friday, on top of a similar move the day before.
> I not sure how pumping money into the economy
It isnt even doing that.
> helps the current loan problems.
Or that.
> Those with good credit continue to have no problems getting loans.
> Those who have poor credit are not getting loans where an increased
> money supply likely has little effect on whether a bank, etc will be
> willing to take on a high risk borrower in today's market.
That $38B has absolutely NOTHING to do with that.
> Furthermore, the real problem today is mortgage defaults where more
> money supply is not going to help those who are over their heads with
> high ARMs. As for the hedge funds who speculated in high risk loans,
> why should the government bail them out?
It wasnt just hedge funds that did that, and that $38B isnt bailing those out.
clams casino
>It isnt even doing that.
>
>
>It wasnt just hedge funds that did that, and that $38B isnt bailing those out.
>
>
>
>
Hmm. Do I smell the presence of ROD (not-so-up-to) SPEED? or just a
wannabe?
When do we hear about pig turds in a wet paper bag?
clams casino
>
>Anyway, the subject is borderline OT. We all know that MCFL is for
>the posting of Google blogpot spam, Rod Speed Screeds, and offers from
>Pakistan.
>
>
You forgot to include the shoewear spam from China.
Steve
>WASHINGTON (AP) ã The Federal Reserve, trying to calm turmoil on Wall
>Street, announced Friday that it will pump as much money as needed into
>the U.S. financial system to help overcome the ill effects of a
>spreading credit crunch.
Like they say - when you owe $100,000, the bank owns you. When you
owe $100,000,000, you own the bank...
--
He is winding the watch of his wit.
By and by it will strike.
... William Shakespeare
Willliam Souden
Yep, qwrt means "quit working,reposting tripe"
qwrt
> Hello. Does "pissing into the wind" mean anything to you? ;-)
Its actually pissing on those fools from a great height.
aemeijers
"clams casino" <PeterG...@drunkin-clam.com> wrote in message
news:d0ovi.34837$rH6....@newsfe22.lga...
your sniffer is probably working well. There are only 2 posts under this
latest alias- we should be absolutely sure in 2 or 3 more. Does this mean
GG, not known for their high standards, finally TOS'd him?
No, I'm not curious enough to start doing string searches.
aem sends...
bear...@cruller.invalid
Steve <o...@wdc.inv> wrote:
> bear...@cruller.invalid wrote:
> >WASHINGTON (AP) ã The Federal Reserve, trying to calm turmoil on Wall
> >Street, announced Friday that it will pump as much money as needed into
> >the U.S. financial system to help overcome the ill effects of a
> >spreading credit crunch.
>
> Like they say - when you owe $100,000, the bank owns you. When you
> owe $100,000,000, you own the bank...
I wonder why conservatives didn't say that about all the "welfare queens
driving cadillacs in harlem". Remember welfare reform? Remember the
hard-nosed view of impoverished single mothers? Remember the vicious
spit and bile cast upon their helpless children? Remember bankruptcy
reform? Remember the baleful eye cast upon debtors?
Now we are supposed to say, que sera sera to zillions of taxpayer
dollars "infused" (meaning GIVEN away) to banks and yacht owners? Just
because they are SCARED of what might happen? That takes a special kind
of cowardice-- the kind that gets us what we deserve.
Why is conservative bullshit good just for poor people? Please, someone
explain to me.
bear...@cruller.invalid
<46be04ce$0$22583$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> The word 'reserve' is there for a reason.
Really? And where did this "reserve" come from. Please tell us.
bear...@cruller.invalid
<46be04ce$0$22583$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> There are no individuals receiving those funds.
Au contraire. There is nobody BUT individuals taking this money. They
may hide behind facades of columns, inside steel and glass skyscrapers,
but they are indeed individuals signing the papers, shaking the hands
and crossing the palms with silver.
bear...@cruller.invalid
<46be04ce$0$22583$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> It isnt goint to those who are losing their homes.
Right. It is going to those taking homes from people.
bear...@cruller.invalid
<46be04ce$0$22583$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> Thats arguable too. You can make a case that its the financial institutions
> that were stupid enough to produce that securitization of sub prime loans
> and the regulatory system that allowed that terminal stupidity.
I argue all that and far more. I argue that this "crisis" was
meticulously planned and carried out to deliberately transfer massive
wealth from one sector of society to another. And anyone with eyes can
see it.
Mark my words: all the money being transferred right this moment is
predetermined to disappear in a flash of "lost value". And the people
whose money it really is will lap it up, nodding knowingly while their
neighbor's children go hungry and homeless.
Churches of every denomination will swoop in to feast upon the economic
carrion, like the vultures they really are, and every American's
self-respect will suffer.
bear...@cruller.invalid
George <geo...@nospam.invalid> wrote:
>
> Nothing new, lots of wealthy companies are welfare queens.
Oh, that makes it okay then.
bear...@cruller.invalid
George <geo...@nospam.invalid> wrote:
> Right down the road from me we (the taxpayers) are leveling a mountain
> for a new Walmart. They have an existing store not far away where we did
> the same thing not a long time ago. We also put in the access road,
> utilities and gave them a 9 year tax exemption. The only reason they are
> moving is the tax exemption is about to expire.
The only reason any of that is happening is because YOU and I and the
rest of those reading this are sniveling, indecisive cowards who deserve
to have our families used as doormats by relatively well-off walmart
shoppers.
bear...@cruller.invalid
clams casino <PeterG...@drunkin-clam.com> wrote:
> I not sure how pumping money into the economy helps the current loan
> problems.
It helps "calm" the lenders, the speculators, and all the other greasy,
cannibalistic capitalists of whom all Americans think so highly. If they
are calmly receiving their extra-large, super-sized helping of YOUR
money every day, they are less likely to make life unpleasant for those
near them, like the massively-powerful and influential infants terrible
they really are at heart.
bear...@cruller.invalid
<46be04ce$0$22583$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> Its just increasing liquidity, just like happened post 9/11.
Bwahahahahaha.
And right after the Enron debacle. And the first Gulf war. And the
savings and loan scandal. And the oil crisis. and the oil crisis before
that. and the vietnam war before that.
5jesus, have I missed any?
How stupid do you have to be to believe the idiotic, repetitive
justification for stealing money from the public to give to staggeringly
wealthy, record-profit-winning, golden-parachuted, mansion-ensconced,
private-jet-owning individuals and their spoiled kids and trophy wives?
qwrt
> In article
> <46be04ce$0$22583$5a62...@per-qv1-newsreader-01.iinet.net.au>,
> "qwrt" <qw...@dfr.com> wrote:
>>> In article <bearclaw-902DC4...@news.supernews.com>,
>>> bear...@cruller.invalid wrote:
>>>> WASHINGTON (AP) < The Federal Reserve, trying to calm turmoil on Wall
>>>> Street, announced Friday that it will pump as much money as needed
>>>> into the U.S. financial system to help overcome the ill effects of a
>>>> spreading credit crunch.
>>>>
>>>> The Fed, in a short statement, said it will provide "reserves as
>>>> necessary" to help the markets safely make their way. The central
>>>> bank did not provide details but said it would do all it can to
>>>> "facilitate the orderly functioning of financial markets."
>>>>
>>>> The Fed pushed $38 billion in temporary reserves into the system
>>>> Friday, on top of a similar move the day before.
>>>
>>> more at:
>>>
>>> http://www.forbes.com/feeds/ap/2007/08/10/ap4008288.html
>>>
>>> While reading the story, ask yourself:
>>> Where is all this money-- essentially welfare for the rich--
>> No it isnt. Its just increasing liquidity, just like happened post 9/11.
>>> coming from?
>> The word 'reserve' is there for a reason.
>>> Who is getting it? (don't be fooled by bank names and institutions;
>>> look at the individuals who will be receiving these funds)
>> There are no individuals receiving those funds.
> Au contraire. There is nobody BUT individuals taking this money.
Thanks for that completely superfluous proof that you have never
ever had a clue about what the banking system and liquidity is about.
> They may hide behind facades of columns, inside steel and glass
> skyscrapers, but they are indeed individuals signing the papers,
> shaking the hands and crossing the palms with silver.
Thanks for that completely superfluous proof that you have never
ever had a clue about what the banking system and liquidity is about.
qwrt
Wrong, its just an increase in the liquidity in the banking system, with
the banks paying the usual interest rate for those SHORT TERM funds.
And it aint those banks that are taking homes from people either.
qwrt
> In article
> <46be04ce$0$22583$5a62...@per-qv1-newsreader-01.iinet.net.au>,
> "qwrt" <qw...@dfr.com> wrote:
>>> Why are they getting it, instead of those in danger of losing their homes?
>> It isnt goint to those who are losing their homes.
>>> (considering that "they" are the ones who created the mess to begin with)
>> Thats arguable too. You can make a case that its the financial institutions
>> that were stupid enough to produce that securitization of sub prime loans
>> and the regulatory system that allowed that terminal stupidity.
> I argue all that and far more.
Trouble is that you can't even manage to grasp that the most recent
increase in the liquidity in the banking system isnt even going to the
operations that did that securitization of sub prime loans.
> I argue that this "crisis" was meticulously planned and carried out to
> deliberately transfer massive wealth from one sector of society to another.
Just another utterly mindless conspiracy theory.
And there is no massive transfer of wealth from one sector of society to another anyway.
> And anyone with eyes can see it.
Easy to claim, hell of a lot harder to actually substantiate that claim.
> Mark my words:
No thanks, you can't even manage to grasp that the most recent
increase in the liquidity in the banking system isnt even going to
the operations that did that securitization of sub prime loans.
> all the money being transferred right this moment is
> predetermined to disappear in a flash of "lost value".
Thats a different matter entirely to that being deliberately planned, let alone
actually being a transfer of wealth from one sector of society to another.
Its just gone, just like happens with a market crash.
> And the people whose money it really is will lap it up, nodding
> knowingly while their neighbor's children go hungry and homeless.
More utterly silly pig ignorant silly stuff. There are no kids going hungry,
the problem is that they ALL shovel too much food into their mouths.
And there are no kids without homes as a result of the securitization of sub
prime loans, those who loose money as a result are those who had money
to put into the fund that were stupid enough to engage in that sort of activity
like the Bear Stearns funds that went down the tubes very spectacularly indeed.
> Churches of every denomination will swoop in to feast upon the economic carrion,
> like the vultures they really are, and every American's self-respect will suffer.
Nope, only the fools who havent got a clue about what has happened, like you.
qwrt
> In article
> <46be04ce$0$22583$5a62...@per-qv1-newsreader-01.iinet.net.au>,
> "qwrt" <qw...@dfr.com> wrote:
>
>> Its just increasing liquidity, just like happened post 9/11.
> Bwahahahahaha.
Village eejut immitations cut no mustard.
> And right after the Enron debacle. And the first Gulf war. And the
> savings and loan scandal. And the oil crisis. and the oil crisis
> before that. and the vietnam war before that.
None of those had the reserve increase liquidity like they did last week.
> 5jesus, have I missed any?
> How stupid do you have to be to believe the idiotic,
> repetitive justification for stealing money from the public
That aint what happened last week.
> to give to staggeringly wealthy, record-profit-winning,
> golden-parachuted, mansion-ensconced, private-jet-owning
> individuals and their spoiled kids and trophy wives?
That in spades. They have lost a lot more as a result
of the securitization of sub prime loans than anyone else.
qwrt
> In article
> <46be04ce$0$22583$5a62...@per-qv1-newsreader-01.iinet.net.au>,
> "qwrt" <qw...@dfr.com> wrote:
>
>> The word 'reserve' is there for a reason.
> Really?
Yep.
> And where did this "reserve" come from. Please tell us.
http://en.wikipedia.org/wiki/Reserve_currency
qwrt
> In article <dkivi.34200$rH6....@newsfe22.lga>,
> clams casino <PeterG...@drunkin-clam.com> wrote:
>
>> I not sure how pumping money into the economy helps the current loan
>> problems.
>
> It helps "calm" the lenders, the speculators, and all the other greasy,
> cannibalistic capitalists of whom all Americans think so highly.
It actually does the exact opposite, because its the proof that
there is a massive problem with liquidity in the banking system.
The real reason its done is to prevent the short term money
market rates from spiking very spectacularly indeed.
> If they are calmly receiving their extra-large,
> super-sized helping of YOUR money every day,
They cant do that if you dont have any funds in the operations
that have been stupid enough to securitize sub prime loans,
and dont have any money in the stock market either.
If you have just got a prime loan, or have surplus funds in
any of the money markets, you benefit from that implosion
because risk has just been sensibly repriced.
> they are less likely to make life unpleasant for those near them, like the
> massively-powerful and influential infants terrible they really are at heart.
Yeah, yeah, its all jews conniving in smoke filled rooms...
bear...@cruller.invalid
<46be77ff$0$22607$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> Trouble is that you can't even manage to grasp that the most recent
> increase in the liquidity in the banking system isnt even going to the
> operations that did that securitization of sub prime loans.
No, the trouble is that people like you prefer to pretend that the
"liquidity" (why can't you just say "money", boy? Speaking plainly just
a wee bit too dangerous for you and your like at the moment?) is not
going anywhere. It is going somewhere. lt is REAL money. And it belongs
to other people who need it more than incompetent lenders.
bear...@cruller.invalid
<46be77ff$0$22607$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> Easy to claim, hell of a lot harder to actually substantiate that claim.
Yeah, that $38 billion and lots more where that came from, that doesn't
really mean anything.
bear...@cruller.invalid
<46be77ff$0$22607$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> No thanks, you can't even manage to grasp that the most recent
> increase in the liquidity in the banking system isnt even going to
> the operations that did that securitization of sub prime loans.
I don't need to "grasp" any of your preschool rhetoric to cut through it
like a chainsaw through balsa wood. Nor does anyone else. Nobody cares
if AIG or WAMU go belly up. The money is going to their financiers, who
developed and gave birth to the entire industry. You know it. I know it.
And everyone else will know it if I have anything to say about it. It is
NOT their money.
bear...@cruller.invalid
<46be77ff$0$22607$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> Its just gone, just like happens with a market crash.
There it is, people: in his mealy-mouthed way, he is talking about YOUR
money and mine.
*EXACTLY* what he said during the Enron theft. And your money
disappeared. Your kid's school probably cut music or art classes. Your
roads went longer without repair. But you could borrow money on easier
terms (not that anyone financed that development nor actually thought it
through).
*EXACTLY* what he said during the S&L theft. Whoops! There goes your
money, too! How much do you suppose you would have right now if your
chunk were invested or saved?
But that's okay, everyone. Just sit back and take it right up the ass
like good citizens.
bear...@cruller.invalid
<46be77ff$0$22607$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> And there are no kids without homes as a result of the securitization
> of sub prime loans, those who loose money as a result are those who
> had money to put into the fund that were stupid enough to engage in
> that sort of activity like the Bear Stearns funds that went down the
> tubes very spectacularly indeed.
Quick! Kick the victims! Kick them harder! Kill them before we have to
hear them cry!
bear...@cruller.invalid
<46be7564$0$22620$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
> Wrong, its just an increase in the liquidity in the banking system, with
> the banks paying the usual interest rate for those SHORT TERM funds.
And what are those interest rates again? 20%? 35%? Like bad credit card
risks?
bear...@cruller.invalid
<46be7910$0$22564$5a62...@per-qv1-newsreader-01.iinet.net.au>,
"qwrt" <qw...@dfr.com> wrote:
In your own words, please. Fuck your link.
qwrt
Nope, 4-5%
> Like bad credit card risks?
Nope. Nothing like. Those banks arent bad credit risks.
qwrt
Pointless restating those basics.
> Fuck your link.
Fuck you in spades.
qwrt
> In article
> <46be77ff$0$22607$5a62...@per-qv1-newsreader-01.iinet.net.au>,
> "qwrt" <qw...@dfr.com> wrote:
>
>> Trouble is that you can't even manage to grasp that the most recent
>> increase in the liquidity in the banking system isnt even going to
>> the operations that did that securitization of sub prime loans.
>
> No, the trouble is that people like you prefer to pretend that the
> "liquidity" (why can't you just say "money", boy?
Because they aint handing out money, they are
LENDING money, a different matter entirely.
> Speaking plainly just a wee bit too dangerous for you and your like at the
> moment?) is not going anywhere. It is going somewhere. lt is REAL money.
No it isnt, its an overnight LOAN, at normal market rates.
> And it belongs to other people who need it more than incompetent lenders.
Thanks for that completely superfluous proof that you have never
ever had a fucking clue about how the banking system actually works.
qwrt
> In article
> <46be77ff$0$22607$5a62...@per-qv1-newsreader-01.iinet.net.au>,
> "qwrt" <qw...@dfr.com> wrote:
>
>> No thanks, you can't even manage to grasp that the most recent
>> increase in the liquidity in the banking system isnt even going to
>> the operations that did that securitization of sub prime loans.
>
> their financiers, who developed and gave birth to the entire industry.
No it isnt. The injection of LIQUIDITY into the
banking system is something else entirely.
> You know it. I know it. And everyone else
> will know it if I have anything to say about it.
Wrong again, everyone who knows anything about it knows that
you havent got a fucking clue about what happened last week.
> It is NOT their money.
No one was handed any money.
qwrt
> In article
> <46be77ff$0$22607$5a62...@per-qv1-newsreader-01.iinet.net.au>,
> "qwrt" <qw...@dfr.com> wrote:
>
>> Its just gone, just like happens with a market crash.
> There it is, people: in his mealy-mouthed way,
> he is talking about YOUR money and mine.
Not unless you actually have any money in the stock market it aint.
> *EXACTLY* what he said during the Enron theft. And your money disappeared.
Never said anything like that about that either.
> Your kid's school probably cut music or art classes.
No they didnt.
> Your roads went longer without repair.
No they didnt.
> But you could borrow money on easier terms (not that anyone
> financed that development nor actually thought it through).
Plenty did, including Greenspan.
> *EXACTLY* what he said during the S&L theft. Whoops!
Never said anything like that about that either.
> There goes your money, too!
They never lost a cent then either.
> How much do you suppose you would have
> right now if your chunk were invested or saved?
Those who had enough of a clue to buy real estate property at
that time have done very well indeed as a result of doing that.
Those stupid enough to have kept renting havent done anything like as
well, but have benefitted from the 4.x% unemployment rate, etc etc etc.
> But that's okay, everyone. Just sit back and take it right up the ass like good citizens.
That aint taking it up the arse, its benefitting very substantially instead.
Gordon
@news.supernews.com:
> WASHINGTON (AP) ã The Federal Reserve, trying to calm turmoil on Wall
> Street, announced Friday that it will pump as much money as needed into
> the U.S. financial system to help overcome the ill effects of a
> spreading credit crunch.
>
> The Fed, in a short statement, said it will provide "reserves as
> necessary" to help the markets safely make their way. The central bank
> did not provide details but said it would do all it can to "facilitate
> the orderly functioning of financial markets."
>
> The Fed pushed $38 billion in temporary reserves into the system Friday,
> on top of a similar move the day before.
God forbid a free market should run it's course. First the
bailout of the airlines post 9/11, now this.