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Posts tagged bailout
Federal Reserve won’t disclose who got bailout loans
Dec 12th
We as taxpayers have to foot the bill, but the Federal Reserve says it won’t disclose who received the Bailout Loans!
The Federal Rеsеrvе refused a request by Bloomberg Nеws tо disclose the recipients of morе than $2 trillion of emergency loans frоm U.S. taxpayers аnd the assеts the central bank is acceрting as cоllateral.
Blооmberg filed suit Nov. 7 undеr the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending progrаms, most crеatеd during the deepest finаnciаl crisis sincе the Great Depression.
The Fed resрonded Dеc. 8, saying it’s аllowed to withhold internal memos as well as information abоut trade seсrets аnd commercial information. The institution сonfirmed thаt a rеcords search found 231 pаges of documеnts pertaining to some of the rеquеsts.
“If they told us whаt they hеld, we would know the рotential lossеs that the government mаy take and that’s what they don’t want us tо know,” said Cаrlos Mendez, a seniоr managing direсtor аt New York-basеd ICP Capital LLс, which oversees $22 billiоn in assets.
Fed Refuses to Disclose Recipients of $2 Trillion
Why the secrecy? Just makes me think that they are up to something no good!
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The Bailout Officially Fails
Dec 12th
Breaking News: The Senate Denied the Auto Bailout Bill
Well the bailout for the big three has officially failed. The Auto Bailout Bill Dies in U.S. Senate.
It died in a vote of 52 to 35 in favor of killing it.
What does this mean for General Motors, Chrysler, and Ford?
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Today the Stock Market Will Crash
Dec 12th
I was just thinking that, it is very possible for the Stock Market to crash today, upon reacting to the news of the Senate killing the Auto Bailout Deal.
As if the economy wasn’t already doing bad enough. I am from Detroit, so I was looking forward to this bailout to help the area I live in. Say what you want about General Motors, but if it wasn’t for them, there would be even less jobs in this city.
I don’t understand the Senate making a big deal about the executives of the Big Three flying in jets to the bailout meetings. What do they expect them to do? Walk or run, and be late. Come on let’s be serious here for a minute. If you were the CEO of a big company, and your company just happened to own a private jet, wouldn’t you use it? It only makes sense. If they weren’t using it, someone would just have something to say and complain about that.
I think Congress lost track of the real issue here, and that was how many jobs would be lost as a result of not giving the Big Three a bailout. Actually the correct terms would be a bridge loan.
The Japan markets are already sinking as a result of this idiotic move by the Senate. I wonder how it will affect the U.S. Markets a little later today. What do you think? Will the Stock Market Crash based on this news?