are you f'n kidding me?! U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit

[anfrey]

http://bloomberg.com/apps/news?pid=20601109&sid=arEE1iClqDrk&refer=home

Nov. 24 (Bloomberg) -- The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The pledges, amounting to half the value of everything produced in the nation last year, are intended to rescue the financial system after the credit markets seized up 15 months ago.

The unprecedented pledge of funds includes $3.18 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg. The commitment dwarfs the plan approved by lawmakers, the Treasury Department’s $700 billion Troubled Asset Relief Program. Federal Reserve lending last week was 1,900 times the weekly average for the three years before the crisis.


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[hooked_on4]

America, land of the "easy way out"


I'm going to start investing in Peso's

 

[Bheims]

So the Feds are screwing tax payers again. What great timing, its not even possible for 2.4 trillion in commercial paper to be paid back in 9 months. Companies are just writing off more and more things but yet why do the Feds keep bailing them out. How have companies lost so much that they need 9 month mini loans in order to stay running day to day?? Was nothing learned from Lehman Brothers?

Btw - can't believe Citigroup was approved for another 20 billion and big 3 in auto industry got denied...

 

[Mr. Jollypants]

I still think all the CEO's should cut their salaries to 500,000, sell the companies private jets and start using First Class on airlines and stop having 100 foot limos.

3 Auto Giants got denied because 1) They flew in private jets which cost around 20,000 to fly there. They didn't fly together, they each took their own. Congress got pissed that they were looking for handouts when they flew in on private jets and 2) They think they deserve the money, no, f**kers, you don't. You're a company, not a government agency. You f**ked up your fiances, time to fix 'em. We also paid for your factory upgrades. Why?

Here's my solution, get rid of the f**king unions.

 

[96 DX Hatch]

brb, moving to abu dabi

 

[anfrey]

the us goverment: the end-all be-all solution to all bad business moves.... unless you make cars.

 

[Bheims]

brb, moving to abu dabi

I'm moving as well. On to the next collective that flaunts money as power = UAB!!!

 

[Mr. Jollypants]

the us goverment: the end-all be-all solution to all bad business moves.... unless you make cars.

I don't even think we should give the financial people help. Although we almost need to so we don't start losing more houses left and right.


The government should hire a private company that deals with finances and how to fix them, send them into the automakers and all the financial companies.

I still don't understand why we were helping out big companies for their f**k up. I don't get a hand out when I f**k up my finances.

 

[Mr. Jollypants]

I'm moving as well. On to the next collective that flaunts money as power = UAB!!!

Until their tourism drops, building boom drops and their economy isn't growing as fast as it is, then they'll be even worse shape that we are.

 

[Bheims]

Maybe the government should take lessons from construction companies...their the only companies I see directly improving America's infrastructure

 

[anfrey]

I don't even think we should give the financial people help. Although we almost need to so we don't start losing more houses left and right.


The government should hire a private company that deals with finances and how to fix them, send them into the automakers and all the financial companies.

I still don't understand why we were helping out big companies for their f**k up. I don't get a hand out when I f**k up my finances.

agreed. i don't think taxpayers should be bailing out those that made bad business decisions. we've moved from cutthroat capitalism to compasionate capitalism to national socialism.

 

[Mr. Jollypants]

Maybe the government should take lessons from construction companies...their the only companies I see directly improving America's infrastructure

If you mean going bankrupt as improving America's infrastructure, than sure.

 

[Mr. Jollypants]

agreed. i don't think taxpayers should be bailing out those that made bad business decisions. we've moved from cutthroat capitalism to compasionate capitalism to national socialism.

It's not the employee's faults for some of them, it's just the big players, needing to redo their offices twice a year at a couple million dollars each time. The employee's do their jobs but the big dogs wanna give money like it's rice.

Oh, another idea:
If these companies DO go under, the board of directors and CEOs cannot collect any bonuses or their pensions or any of that. All that should go to the employee's to pay for their pensions, retirement and unemployment. The big dogs can b***h all they want but they f**ked up and still have millions in the bank when most of the employee's only have enough to live maybe a month or two on.

 

[Bheims]

I don't even think we should give the financial people help. Although we almost need to so we don't start losing more houses left and right.


The government should hire a private company that deals with finances and how to fix them, send them into the automakers and all the financial companies.

I still don't understand why we were helping out big companies for their f**k up. I don't get a hand out when I f**k up my finances.

If it was that easy I'm sure they would. The world economy is driven the the U.S. and they have no choice but keep them afloat to prevent an entire global collapse. I just don't understand why bridge loans are being handed out left and right while the average American is drastically limiting spending. How are we ever going to pay down our debt? Come January, the new administration will certainly be spending $$

 

[Mr. Jollypants]

If it was that easy I'm sure they would. The world economy is driven the the U.S. and they have no choice but keep them afloat to prevent an entire global collapse. I just don't understand why bridge loans are being handed out left and right while the average American is drastically limiting spending. How are we ever going to pay down our debt? Come January, the new administration will certainly be spending $$

I don't think they would. Politicians have some money to be made by giving these companies money.

 

[Mr. Jollypants]

If it was that easy I'm sure they would. The world economy is driven the the U.S. and they have no choice but keep them afloat to prevent an entire global collapse. I just don't understand why bridge loans are being handed out left and right while the average American is drastically limiting spending. How are we ever going to pay down our debt? Come January, the new administration will certainly be spending $$

I also don't see the government doing anything to require these companies to start lending again. They are being so picky that only those with the best credit scores are being accepted. That is what is causing them to lose money as well. Interest rates are down to get people to loan but they are limiting themselves to who they loan to that they aren't making much money (when i say much I mean as much as they were.)

 

[Ryoslide]

Ok here was my solution....Buy everyone a vehichle it will be cheaper than a bailout, it sounds silly but.....If the bailout goes through the inventory is still gonna sit. People will not rush out to buy in the next 3-5 years so how long will that money last the industry. You mass liquidate the auto industries then they should be given government controls on how much inventory can be made and more expensive autos should be made to order. Build H3's when needed don't stock 20 on your lot. I know it will just be another govenment style of control and I know how ppl hate that, but look at it this way...They screwed the finances into the ground, at some point some sort of stats or figures must have showed this was on its way.

No-one did anything but still collect their high priced pay cheque. obviously they cannot run these businesses in this new economy. If I had $60000.00 for a new truck I bet I could wait for the factory to produce it. Thats what needs to happen made to order is the way to go

 

[Bheims]

^^ and u think they would considering they now have a gigantic stake in seemingly everything. It was the irresponsible people who defaulted on loans that played a huge influence in credit meltdown but bailing all of these companies out at the same time is not the right decision. The return on these ridiculous investments is not going to pan out anytime soon. We need something that can stimulate the economy now...not something that will gradually gain ground over the next half century. Free market ftmfw.

 

[Bheims]

Ok here was my solution....Buy everyone a vehichle it will be cheaper than a bailout, it sounds silly but.....If the bailout goes through the inventory is still gonna sit. People will not rush out to buy in the next 3-5 years so how long will that money last the industry. You mass liquidate the auto industries then they should be given government controls on how much inventory can be made and more expensive autos should be made to order. Build H3's when needed don't stock 20 on your lot. I know it will just be another govenment style of control and I know how ppl hate that, but look at it this way...They screwed the finances into the ground, at some point some sort of stats or figures must have showed this was on its way.

No-one did anything but still collect their high priced pay cheque. obviously they cannot run these businesses in this new economy. If I had $60000.00 for a new truck I bet I could wait for the factory to produce it. Thats what needs to happen made to order is the way to go

That is a good idea but its already in place to an extent. Car companies use just-in-time inventory strategies to try to limit inventory loss but problems with staying supplied, supply changes, etc. A true build-to-order strategy would change the auto industry too much at one time...but again, it is a great idea (especially now)

 

[andrew256]

Here's my solution, get rid of the f**king unions.