Spend $350 billion in 77 dyas

vwebworldvwebworld Posts: 40subscriber
edited December 2008 in Watercooler Talk
A tall task? Not really, here`s how "our" government did it:
Treasury has:
sent checks totaling $168 billion in varying amounts to 116 banks;
committed another $82 billion to capitalize more banks;
bought $40 billion in preferred shares of American International Group so the troubled insurer could pay off an earlier loan from the Federal Reserve;
committed $20 billion to back any losses that the Federal Reserve Bank of New York might incur in a new program to lend money to owners of securities backed by credit card debt, student loans, auto loans and small business loans;
committed to invest $20 billion in Citigroup on top of $25 billion the bank had already received;
committed $5 billion as a loan loss backstop to Citigroup;
agreed to loan $13.4 billion to GM and Chrysler to get them through the next few months

Comments

  • NuevolutionNuevolution Posts: 30subscriber Bronze Level Member
    According to a discussion I heard the other day, the Federal Reserve is doubling the amount of money in the overall supply, every 6 weeks. They`re just printing money.
    So there`s Plenty of money to go around! Who cares if it actually means anything or has any actual value, right? As long as there`s lots and lots and lots of money, how hard can it be to spend even trillions in a couple of months?

    Craig,
    If there`s paper and ink why not? Sure lets print as much as we can... the funny thing it never makes it into our pockets.... Where does all that money go? Someone has to be benefiting from all this... Aside from the bail outs...
  • WeblineWebline Posts: 13subscriber Bronze Level Member
    Hey ... there`s a home based business idea for ya ..... print our own money!
    We`d just be helping the economy, same as the government, right? And, we could actually use some of it ourselves!
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