Paulson Says Foreign Banks Can Also Use the $700 Billion Bailout

Discussion in 'Economy' started by Paulie, Sep 21, 2008.

  1. Paulie
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    Paulie Platinum Member

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    Paulson: Foreign banks can use U.S. rescue plan | Reuters

    Just when you think it can't possibly get any more ridiculous.
     
  2. OohRah Mama
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    OohRah Mama Say it with me: NU-CLE-AR

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    Dear Gawd, the old Chinese curse comes to fruition bigtime. We do indeed "live in interesting times".
     
  3. Care4all
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    Care4all Warrior Princess Supporting Member

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    holy moley, we need to look closer at this bill....
     
  4. editec
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    editec Mr. Forgot-it-All

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    They're bailing out the bond-holders.

    Had they not bailed out the bondholders, the credit machine would melt down.

    At this stage of the game, given the structure of their solution, I think I'd asoon see the whole credit based sconomy would come toppling down to be honest.

    It isn't serving most of us here in America, and it's serving people thoughout the world even worse.

    Time to rewrite the whole social contract, folks.

    This one isn't working.

    This "fix" isn't going to fix it.

    We can't keep chasing debts we can never repay forever.

    Why are we in debt anyway?

    The government, I mean, not we citizens.

    Why does our government have to borrow money that never existed from bankers, and then pay them back with interest, mind you, for money they didn't really have to begin with?

    The whole forking system is perverted.

    But perverted to the benefit of the master class, which most of us can now obviously see with this so-called bail out.

    We do NOT have to structure our economy in this way, folks.

    We can still live in a capitalist society,, but one without a predatory class of superwealthy who can hold our nation hostage threatening to melt down our economy..like they are right NOW, if we don't pay for their mistakes.

    This system is nuts.

    We could give the power to create money to OUR governments directly.

    Now, we all know that would mean that we'd have to keep our leaders averice in check, politically.

    But honestly...

    ..given the fact that this current system puts this nation in perpetual debt to people who CREATE MONEY out of thin air, anyway, why NOT trust our governments more than strangers NONE of us get to vote into office?

    Do you all, conservatives and liberals, alike, see my point, here?

    Why not cut out the MIDDLEMEN? They don't do anything except collect interest on money they didn't have.

    These banks aren't lending us something they already owned, they're creating this money out of NOTHING.

    What do we need them for?
     
    Last edited: Sep 29, 2008
  5. Care4all
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    Care4all Warrior Princess Supporting Member

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    it is a waste of money, this privatization of our own money!!!! wasn't suppose to be this way....according to our constitution imo.
     
  6. DiveCon
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    DiveCon gone

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    oh man
    good thing this bill failed
    i hope they relax for a bit and actually THINK about this stuff before passing anything
     
  7. rayboyusmc
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    rayboyusmc Senior Member

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    Maybe our British cousins have it right:

    Bank of America, would really be the Bank of America::eusa_whistle:

    Second British bank nationalised as US credit crunch spreads
     

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