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So the 819 Billion dollar "stimulus" package is going to be passed by the Senate soon....
Obama is already crafting a second financial bailout for banks, automakers, whatever and whoever wants money....
My question is how much do you think this second bailout will be priced at? I say it will be 1.5 Trillion dollars... that is 2.3 Trillion total spending in less than a month... he is making Bush look like a cheapskate at this point.... how much do you think he is going to spend?
Yes, but how much is the second bailout going to be.... any guesses? Geithner is writing it right now...
I think Geithner is working on some sort of bad bank plan that will buy the toxic assets and take them off the books of the major companies. This was the original aim of TARP, but we switched (perhaps following the lead of the UK) to recapitalizing the banks.
I kid you not, the acronym for this bad bank plan is BARF. I believe it's the Bad Asset Repository Fund. This plan is going to make us all want to BARF! There was talk that the total cost of the Bank rescue plan could be as high as
$ 3 Trillion. Ford just lost $ 5 Billion + last quarter and they are (by far) the STRONGEST of the Big 3. Giving another Bailout to GM and Chrysler would be very stupid. Hopefully, it won't happen.
I think Geithner is working on some sort of bad bank plan that will buy the toxic assets and take them off the books of the major companies. This was the original aim of TARP, but we switched (perhaps following the lead of the UK) to recapitalizing the banks.
I kid you not, the acronym for this bad bank plan is BARF. I believe it's the Bad Asset Repository Fund. This plan is going to make us all want to BARF! There was talk that the total cost of the Bank rescue plan could be as high as
$ 3 Trillion. Ford just lost $ 5 Billion + last quarter and they are (by far) the STRONGEST of the Big 3. Giving another Bailout to GM and Chrysler would be very stupid. Hopefully, it won't happen.
I can guarantee you that it will be a combination of things... bad bank is a possibility but I think it will definitely include capital infusion and propping up failing businesses...
So you think it will be a 3 Trillion dollar package + 819 Billion stimulus package for 3.8 Trillion total in less than a month.. wow!
Hahahaha.... I predicted the second bailout to be 1.5 Trillion... Geithner said he will probably ask for another 2 Trillion... I made a pretty "close" estimate... so far the tally is 700 Billion + 838 Billion + 2 Trillion = 3.538 Trillion dollars going to be spent... That means for every one of the 300 million Americans... we all pay about $11800 each for these bailouts.... every man, woman, and child owes that much but most of them won't pay for it... the grandkids will..... or maybe they will pass it along to their kids... I wonder how the dollar will fare if this fails... you can't exactly "borrow" more money when you threw over 3.5 Trillion dollars and it failed... nobody will be crazy enough to lend... this is going to be an interesting year...
Its not just a "trillion" its at LEAST 2 trillion more.... what is mind boggling is how none of the liberals are against this... the second is pretty much identical to the first bailout.... I wouldn't think people would be up in arms about this, especially liberals who blamed Bush's failed policy... isn't this the same as one of Bush's failed policies? I didn't like the first bailout and I certainly don't like the second one... with over 2 trillion, you can build SEVERAL banks with good capital instead of propping up failing banks... You could just let them fail and sell off their assets to cover their debts and then write off the rest of the debt and then use the 2 trillion to buy these banks and rehire people to staff and have a HEALTHY bank (of course CEOs won't make any money with these banks)... I mean come on....
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