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Banks Need Billions More
- Text size
Reuters
May 6, 2009
Regulators have told Bank of America Corp it needs $34 billion of capital to withstand a deep economic downturn, an industry source familiar with results of a government stress test said late on Tuesday.
- A d v e r t i s e m e n t
The sources were not authorized to speak because the stress test results have not yet been made public. Results are due late Thursday.
Early results of the tests may unnerve investors who had hoped they might show the industry was in less dire condition than feared.
Bank of America’s test results are also certain to increase pressure on Chief Executive Kenneth Lewis, who was ousted as chairman last week in a shareholder vote. That ouster could also lay the groundwork for his departure from the company he has served for 40 years, including the last eight as CEO.
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May 6th, 2009 at 12:25 pm
I’m being stress-tested.
Jeremiah III Reply:
May 6th, 2009 at 12:48 pm
So am I. She moves out at the end of the month!
As far as the banks go, let them rot.
YELLOWHAK1 Reply:
May 6th, 2009 at 1:24 pm
LOL!
Bill Cooper trolls suck Reply:
May 6th, 2009 at 1:53 pm
All the money goes to bailing out banks.
Chgowmn Reply:
May 7th, 2009 at 4:32 pm
The “banks” regards the people who perhaps bought more than they should have as careless, stupid, deserving. Hmmm let’s see, these BANKS hire people with ADVANCED degrees and 6 figures income many with YEARS of experience in BANKING. Yet we are stupid but they are what? Humbled? With no regard to YOUR families well being they are ONCE AGAIN not even begging for money they are demanding it, Obama, the bankers lap dog is doing his level best to GIVE to them from what is now the poorest in our nation as well as the unborn.
I say, screw the banks, close your accounts, if more people just keep their cash or just put it in a mattress. No fees from your mattress, no one in your pocket taking your money. Instead of direct deposit, get a phyiscal check, pay by cash or money orders once again NO CHANCE OF LATE FEES.
They need us. Remember that.
Over educated idiots.
aldgisl Reply:
May 6th, 2009 at 3:34 pm
LOL, just remember they’re all descendants of Eve…they lie like rugs.
rat Reply:
May 6th, 2009 at 1:16 pm
Tell me about it.
rat
Jeremiah III Reply:
May 6th, 2009 at 3:39 pm
Hilarious!
craig uk Reply:
May 6th, 2009 at 5:20 pm
the bbc news 24 today had a report about the retiarment age of 65 being raised to 70 to pay the national debt of england.it was on news 24 and not the regional news which most people watch.
rat Reply:
May 7th, 2009 at 10:05 am
Hoot your horn ( in English) if your being stress tested. Which is the same in Spanish (in Spanish) I think or press F1 for help did he say?.
rat
May 6th, 2009 at 12:26 pm
Police Offered Campaigner ‘Spy Bribe’
http://www.youtube.com/watch?v=xqnSYlO_zYw
May 6th, 2009 at 12:28 pm
Let these banks fail, the whole “to big to fail” is a bunch of crap.
Chad and some of his kin Reply:
May 6th, 2009 at 12:57 pm
Thanks for pointing that out!
In the late ’90’s, a man named Stuart Rutherford wrote a very interesting piece called “The Poor and their Money” (check this out, it is available online) in which he carefully documents the numerous types of “informal” savings associations successfully operated by people all around the world.
Interestingly enough, in this overwrought “age of globalization”, these informal banking socieities have endured… now that the multi-national banks are under such “stress”, and failing, and people no longer trust them, the tried-and-true “informal banks” that people in developing countries have been using for centuries are still working!
Bill Reply:
May 6th, 2009 at 1:33 pm
Proof positive that we can run our own affairs on a community basis… we don’t need these lunatics… never did!
grego Reply:
May 6th, 2009 at 4:48 pm
We can’t run shit we let these thugs run off with 14.9 trill. Stop the NEW WORLD ORDER Oh OK after american Idol. We make life easy for the masters. And they know it…
Hangman1 Reply:
May 7th, 2009 at 3:48 am
OK, you need to grab a dose of reality.
“Money” is not wealth. It is smoke and mirrors. There is NOTHING behind the money that they took out of this country except for the idea that WE THE PEOPLE will continue to “believe in it”. Money is a perception of wealth, nothing more.
Money is ACTUALLY a “debt instrument”. Our Federal Reserve Currency is more than 94% inflated because of the “Fed Interest Rate”. The USA was bankrupt in 1933- which means that they had to do something to “re-monetize” the “money”.
That “re-monetization” was what we know as “Social Security”, which doesn’t actually go into a fund to pay out Social Security payments at all. It goes to pay the “interest” on the 1933 bankruptcy.
Since 1913, the inflation rate has gone up to 94% or so. The “Fed” cannot control it because of “fractional banking”, which means that they multiply the amount of “debt instruments” (aka dollar bills) that they print into “gray” money- money which doesn’t exist. If they print ten trillion, they give the US Treasury 9 trillion, which then continues to be “fractioned” eight more times into various banking institutions- which then “lend” it to You and Me.
What the Fed can’t do is Undo what they have already done. They have kept the interest rate on the newly printed funny money down so that it doesn’t reach 99% inflation- because when that happens, the game is over and all that wealth just goes *POOF*.
Then they have to declare a Force Majeur- which means they tell China and everyone else that they can’t pay them anything, can’t service the debt they have and they can’t honor your “legal tender” at the grocery store or anyplace, anymore. Get it? The Dollar as we know it is already dead. Just figure out 94% inflation from 1913-2009- it is about 1% per year. So, you have about 6% remaining till the Dollar is dead as Saddam Hussein.
Now do you get it?
The trillions that they have looted from the USA are only good as long as they can keep us “working” and keep us “believing”. So, Oboingo and his bankster gang are trying to get the Global Currency going so that we will “believe” that the new money is just as powerful as the “old” money. That toilet paper that you have stuffed in your pocket or that you think your Debit card is worth.
The money doesn’t really mean a damn thing to the NWO, the POWER is what they are feeding on. The money is fake- it never existed. There hasn’t been ANY money since Tricky Dick Nixon sold off the gold from Ft. Knox. NONE of it is worth ANYTHING.
If the dollar fails “you” are the collateral on the monetary value. They may choose to turn “you” over to the Chinese as payment for the debt. Or they may choose to chip everyone and lock you into slave cities as Alex outlined in Endgame. Whatever. It is worthless, and the only claim they have on you and me is that “we” “owe” “them” somehow.
If WE repudiate THEIR debt, their entire house of cards falls down. That is WHY we HAVE TO ARREST THE POLITICIANS. We need “professional witnesses” like Peter Schiff, Gerald Celente and people like them to explain this to a Jury in a Federal Trial and then execute these morons, go after the rest of them in Europe with a major US invasion force. We have to HANG every single one of them. And if we don’t find them, we have to set up legislative safeguards to keep them from ever coming to power in Europe or the USA again. Period. That is the ONLY THING that is going to change the world that we live in.
Thanks for listening. Out.
loose-schute-man Reply:
May 7th, 2009 at 9:53 am
100% legit!! people should be educating themselves right now more then ever! we are in some “not-good” times!!
May 6th, 2009 at 12:28 pm
http://www.youtube.com/watch?v=UMbpX_T9e2w&
May 6th, 2009 at 12:28 pm
that is angering!
May 6th, 2009 at 12:29 pm
How about we tell them no. With a big middle finger.
May 6th, 2009 at 12:30 pm
safest deposit of your money on the
JarBank
John Henke Reply:
May 6th, 2009 at 1:32 pm
I saved so much I had to move to the Mattress Bank!
Michael(FL) Reply:
May 7th, 2009 at 9:27 am
Is it FDIC Insured? LOL!
May 6th, 2009 at 12:30 pm
…no divirsion from war spending? its like 26% taxes in my area ..gose to war spending..to pic…
there is a $200.00 service charge for your transaction do you accept?
grego Reply:
May 6th, 2009 at 4:51 pm
26% I don’t think so try adding up all the tax u pay it’s more like 70%
May 6th, 2009 at 12:30 pm
Let Rockafeller, Geitner, and the rest of those rich bastards pay for it.
May 6th, 2009 at 12:36 pm
Well the bank can suck my dick!
rat Reply:
May 6th, 2009 at 1:18 pm
I`ll bet they will charge you to much.
rat
May 6th, 2009 at 12:36 pm
That is Alex Jones fault! He started this whole bank thing. We should all listen to Obama!
May 6th, 2009 at 12:42 pm
Children take comfort in knowing I am here for you. I will protect you and guide you down the path of love, peace and eternal life. Come together as a one nation and stand against Satan. Don’t worship other gods. I am your creator and father. My judgment will be harsh and quick. I will save those who have confessed their sins and behold Jesus as their savior..
Bill Reply:
May 6th, 2009 at 1:38 pm
In god we trust… where the fuck were you the past 7,000 years or so… been picking your nose have you? You only now noticed the outright disaster you created… and we should TRUST you to fix it! Do you think we’re nucking futs?
bar abbas = son of god Reply:
May 6th, 2009 at 2:41 pm
Give away ALL yer belongings and money why don’t you? But, you won’t.
May 6th, 2009 at 12:53 pm
To The Rotten Stinking Bankers
James 5:4
Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth.
Average Smuck! Reply:
May 6th, 2009 at 1:41 pm
Sounds like NIV version…not Inspired version!
BobbieJo Reply:
May 6th, 2009 at 1:52 pm
Check for yourself. Try e sword. It is King James. But I am not arguing with you.
grego Reply:
May 6th, 2009 at 4:55 pm
NIV Is the NWO version. Look who has the copyright on it.
May 6th, 2009 at 12:55 pm
They “need” it, and they’ll get it. Question is, what are we going to do about it?? I see much time wasted daily, just wondering when a sense of urgency will be reached by truthers AND sheeple????!?!?!?! Just how much arguing amongst ourselves and putting people down will it take to get to freedom? Maybe watching another 500 videos will get us close, what ya think? Seriously, what’s it gonna take? Please look in the mirror when you answer this question. There are several asleep among those that have claimed to have woken up, there sleep walking! Point them in the direction of the enemy and slap them hard and watch the show. Keep the faith and always remember that action speak louder than words……or videos……or articles……or arguments…….or wasting time…..get……the……..point?!!!
http://www.warnthepeople.org/the-open-forum.html
grego Reply:
May 6th, 2009 at 4:57 pm
Thank You Unite I have said the same thing myself…
May 6th, 2009 at 1:19 pm
WHEN ARE PEOPLE GONNA SEE THAT THIS BANKER TAKEOVER HAS GONE TOO FAR. I’M CALLING ON EVERYONE TO WITHDRAWAL YOUR MONEY FROM ANY OF THESE ZOMBIE BANKS. IT’S BEEN PROVEN THAT BOA, CITI, WELL FARGO, AND CHASE ARE ALL CORRUPT ALONG WITH MANY OTHERS. THE MASSES MUST DO A BANK RUN AROUND THE SAME TIME TO PUT THESE SCUM IN THEIR PLACES. WHEN YOU MAKE YOUR WITHDRAWAL, ASK THEM FOR YOUR TAX MONEY BACK TOO JUST TO SEE THE LOOK ON THE EMPLOYEES FACE.
KrispyCritter Reply:
May 6th, 2009 at 1:57 pm
Doesn’t look like they’re done yet, Steve. According to the Wall Street Journal, freezes are being put on 401(k) withrawls.
http://online.wsj.com/article/.....85199.html
(Tried posting this a few minutes ago, but *poof*)
grego Reply:
May 6th, 2009 at 5:01 pm
Im on my way to do just that.Im done with Wells fargo Thanks texas steve..
broke ass Reply:
May 6th, 2009 at 9:18 pm
what money?
May 6th, 2009 at 1:23 pm
I THOUGHT WARREN BUFFET SAID THE MARKET HAD BOTTOMED OUT ALREADY. NO WONDER I WAS FORCED TO BANK WITH BOFA THRU THE STATE CHILD SUPPORT DIVISION. IF I COULD TRUST MY KIDS DAD I WOULDN’T HAVE TOO BUT HUMANS AS THEY ARE CAN’T BE TRUSTED.
grego Reply:
May 6th, 2009 at 5:06 pm
If the state collects your child support are u on state assistants. I pay mine right to my ex. Whats up with forced to bank at BOFA.
May 6th, 2009 at 1:37 pm
It’d have been better if Lawful American taxpayers were given these billions and trillions of bail-out money. There would be more cash in circulation and the economy would stimulate and grow.
Read the news about Chrysler that they are not paying back the billions of bail-out money back, it’s just ridiculous. Shame on you Obama!
We all know one thing, that these banks will not as well payback the money they owe us, the American people.
This government is stealing our money right in front of our eyes and we are just being a mute spectator.
May 6th, 2009 at 1:38 pm
So the biggest robbery in world history goes on and on and on.
Give the thieving sons of bitches ten billion, give them a trillion! It’s all worthless.
The more they steal, the sooner their destruction. The soon our liberation!
Never forget that these criminals and their lackey’s in Washington are insane, and only have a short time left to do their worst. Their days are sorely numbered.
Thank GOD! LONG LIVE THE REVOLUTION!
May 6th, 2009 at 1:43 pm
depression will last for another 3 years…..no questions!!!!!!!
flu bug will kill 500,000….anti virus drugs will kill 3 million more….
attack on iran is imminent..lead by israel (1st strike)…
world order to begin in 2010 no date set yet…(will be significant date tho) like your 9/11 and 7/7 etc…
humanity will prevail tho…..but it will not be easy!!
Mystic-Creations Reply:
May 6th, 2009 at 2:10 pm
They’re planning for something big, no question, the Elite are preparing us.
10-10-2010 something cheesy like that LOL, I think your right, the date will have to have some type of significance to it.
grego Reply:
May 6th, 2009 at 5:08 pm
Want a job.
May 6th, 2009 at 1:56 pm
I say just let those banks fail.
May 6th, 2009 at 2:34 pm
Funny. They’ve had their hands in my pockets for years. Raised everyone’s interest rates, charge the highest fees, the most fees and steal the most money from you. Where has it been going? hmmm…
grego Reply:
May 6th, 2009 at 5:13 pm
Stop banking there or at any bank there are way to work around it if we want. But to keep doing business with them? hmmmm…
May 6th, 2009 at 2:37 pm
Hide that stress test, Zombie!
May 6th, 2009 at 2:38 pm
yahoo has an article today that says 3 major banks passed the stress test, what a joke! apparently, we get better information from here than the media…. SURPRISE!
May 6th, 2009 at 4:35 pm
Let them die! Let them die! Let them die!
May 6th, 2009 at 5:00 pm
You guys know why that don’t get rid of the penny, because when you go to the store or where ever everything is less then 10 pennies apart. What a scam. total Monopolies everywhere owned by the banks.
May 6th, 2009 at 5:48 pm
This is a great example of the danger of just reprinting material posted on the web. The author has no understanding of common versus perferred stock and what the actual mandate was from the government. BOA can meet the capital requirement several ways. The easy way is just to move the stock from one type to another (using the money or stock the Govt initally gave them…cash infusion via preferred stock).
You people scare me as much as the ruling class….all just sheep
May 6th, 2009 at 6:33 pm
Like we didn’t see this coming…
http://www.theaustrianswereright.com
May 6th, 2009 at 7:48 pm
They’ll get it. What in hell are we going to do to stop them? Post complaints?
May 6th, 2009 at 8:03 pm
dont worry the true “savior” of the banks obama will bail them out again..and again..and again
he steals from the rich gives to the poor-obama the judas fraud
the chicago gangster obama hit the big time thanks to the nwo who got him elected even though hes not american
obamas half brother who is ACTUALLY black is a child rapist btw
http://www.davidicke.com
Chgowmn Reply:
May 8th, 2009 at 12:47 pm
Obama is from Hawaii not Chicago.
NatureBoy Reply:
May 8th, 2009 at 6:39 pm
didint say he was u moron, he ran as a senator in CHICAGO u retard
May 6th, 2009 at 10:03 pm
THE BANKS WANT MORE OF OUR MONEY…BUT THEY WONT LEND WHAT WE HAVE GIVEN THEM…EXAMPLE ….FOUNTAINBLEAU CASINO IN LAS VEGAS NEVADA…SOON TO CLOSE DOWN…AT 70% COMPLETE….3300 CONSTRUCTION WORKERS WILL BE OUT OF WORK…MAYBE THIS IS WHY BAMA EXTENDED UNEMPLOYMENT BENEFITS……KNOWING THE ECONOMY WILL BE SHOT TO HELL….FOR A LONG TIME…OR SHOULD I SAY AN EXTENDED PERIOD OF TIME….I GUESS HARRY WEED NOR BAMA HAVE THE POWER TO GET THE BANKS TO LEND ..ONLY CERTAIN PROJECTS SUCH AS CITI CENTER IN VEGAS THAT HARRY TOOK AN INTEREST IN AND WENT TO CAPITAL HILL AND FOUGHT TO HELP ARRANGE SOME SORT OF FINANCING….THE LOAN FOR FOUNTAINBLEAU WAS WRITTEN IN A CONTRACT..SIGNED BY ALL PARTIES…I ALSO GUESS THIS IS THE NEW AMERICA..A MANS SIGNATURE ON A CONTRACT IS WORTHLESS…WHEN IT COMES TO GOVERMENT CONTROLLED BANKS…..FINANCED BY THE TAX PAYER…THE NEW AMERICA./….ALL GOVERMENT JOBS…ALL AMERICANS ON WELFARE////FOOD STAMPS…GOVERMENT HOUSING……NOT ANOTHER DIME OF MINE……….AS IF I AS AN AMERICAN CITIZEN HAS A VOICE
May 6th, 2009 at 10:21 pm
Just why would the banks need billions more when they already create all of the money in circulation?
http://www.youtube.com/watch?v=_lgN4-EW_zs
Hangman1 Reply:
May 7th, 2009 at 4:06 am
Because every dollar Oboingo gives them turns into nine more dollars they can lend to you to fleece you with.
It is much easier to live without money once you figure it out. Work for trade, barter etc. I’ve been doing it since June ‘99. I don’t owe nobody for nothing if I can’t get it on my own. Only thing I’ve been short on is fuel. And if I don’t have it, I don’t miss it. Just do my own thing and make friends with very interesting people.
May 6th, 2009 at 10:37 pm
A-n-a-r-c-h-y is being set to be played out. This will run a course of one to two years. Our troops will be busy everywhere else but here. Americans will be disarmed over the next 6 to 9 months.
Foreign troops will be sent in to keep some control. They will kill you without questioning their patriotism because they have none. Our own troops would never go against his fellow American.
The public will beg for Governmental control, this will set the stage for O-l-i-g-a-r-c-h-y.
HR45 will just be the ground work for something even bigger. This will not take a year or so, it will happen by at the end of this year.
Time is running out because the money has run out.
vector1 Reply:
May 7th, 2009 at 10:43 am
go to steve quayle.com and read the death of america.Sounds like you might have already.Watch Red Dawn .Read Naomi wolfes book The End of America.The only wild card here is when, not if.The timing of the train wreck is the hardest to gauge.Keep your ear to the tracks nose to the wind and have a place to get to.
May 7th, 2009 at 9:17 am
Usury profit ~
May 7th, 2009 at 10:59 am
we need to listen to Bernanke and Geithner on this they will save all of us, remember Geithner wants the power to seize any business they choose and shut them down, I bet President Obama thinks this is a great idea, we have to declare state sovereignty these guys are openly stealing after the trillions they already got the banks turn around and raise the interest rates on the people what a ripoff, but they won’t help save general motors we have to refuse to pay this irresponsible and outrageous waste of money, we won’t pay for it, our states are having budget shortfalls and we should give more money to the banks how stupid is that? should the states of the union come first or the banks? who pays for the spending, the banks don’t give crap to anyone.
May 7th, 2009 at 5:50 pm
Let your voice be heard. Write to your Congressman tell them to back HR1207 The Federal Reserve Transparency Act .
visit blogs.myspace.com/ronpaul to view a video of the Federal Reserve Auditor who apparently knows nothing about what is going on down at Not So Federal Reserve.
If you don’t know who your Congressman is, go to http://www.House.Gov
“The Federal Reserve Transparency Act,”
which would eliminate the restrictions on U.S. Government Accountability Office (GAO) audits of the Federal Reserve.
Since its inception, the Federal Reserve has operated without sufficient
transparency or accountability to the American people. In fact, current law
specifically excludes the Fed from a thorough audit or real congressional
oversight. No government agency has such an utter lack of sunshine.
The Federal Reserve has created and dispersed trillions of dollars in
response to our current financial crisis. Americans across the nation,
regardless of their opinion on the bailouts, want to know where that money has
gone and exactly how much has been spent.
H.R. 1207 would open up the Fed’s funding facilities, such as the Primary
Dealer Credit Facility, Term Securities Lending Facility, and Term Asset-Backed
Securities Lending Facility to congressional oversight.
Additionally, audits could include discount window operations, open market
operations, and agreements with foreign central banks, such as the ongoing
dollar swap operations with European central banks.
By opening all Fed operations to a GAO audit and calling for such an audit
to be completed by the end of 2010, H.R. 1207 would achieve much-needed
transparency of the Federal Reserve.
May 7th, 2009 at 6:19 pm
The facts:
1 TRILLION DOLLARS
If you started spending 1 million dollars a day starting on Christmas, you would still have money left from your trillion dollars. No, not last Christmas, or this Christmas. The ORIGINAL CHRISTMAS. You know, Mary, the three wise men , no room at the inn Christmas.
The government has two sets of books. The “official” set shows a debt of 10.7 trillion dollars. The other set represents anywhere between 53-100 trillion of entitlement debt. This is social security, Medicaid, medicare, and retirement benefits for government employees.If you take the generally agreed to 65.5 trillion in, the total obligations exceeds the gross domestic product of the WORLD.
The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligation embedded in the massive spending plan are taken into account.
If you take the upper number of 100 trillion and the 10.7 trillion dollars, you have 110.7 trillion dollars in debt. That leaves 900.3 trillion dollars away from being one QUADRILLION DOLLARS in debt. Minus the $787 billion stimulus package signed by President Obama 17 February in Denver and you have slightly less of the 900.3 trillion to go. Using a nominal interest rate, the real amount of the stimulus package is 1.05 trillion dollars.
The total Gross Domestic Product is 14 trillion. Consumer spending makes up 75% of the GDP coming in at 10 trillion. The difference is known as the debt to GDP RATIO. Is consumer spending a viable way to maintain this ratio? NO. Consumer spending contracts every day due to the high unemployment numbers and the reluctance of consumers to spend at all. The last quarter of 2008 bears this out and it included all holiday related spending i.e. gifts, airline tickets, etc.
The debt is is bifurcated as well. First, the public debt. This is the debt acquires when the Chinese, Saudis, and Japan line up at the Treasury Department window to purchase treasury bills and notes. The Chinese lead in this category coming in at 2.2 trillion. The Japanese come in a close second at 2.07 trillion. Wen Jiabao, China’s prime minister, issued a veiled warning to America on 13 March 2009 to maintain control over its economy in the latest sign the global economic crisis is testing the most important bilateral relationship in the world. The Chinese prime minister continued by saying “We have lent a huge amount of money to the US. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” In rare comments on another country’s financial health, he added: “I’d like to take this opportunity here to implore the United States … to honor its words, stay a credible nation and ensure the safety of Chinese assets.”
The second category is intergovernmental debt. This consist of the pay out on social security etc. The national work place is/was approximately 123 million people. These are the people that are paid on the books and are issued W4 at the end of the year. The amount of taxes paid from this source is approximately 10 trillion dollars. Of course with millions of jobs lost from September 2008 through today, that amount will not be collected.
Any stimulus bill will not do any good. The Congress, including members from Texas, passed the package which President Obama signed. Now, Rick Perry’s refusing to take the money that would help the burgeoning number of unemployed Texans, because of the “strings” attached. Sorry “Slick Rick” but those “strings” are out of work Texans. That settles the Republican primary next May.
Now, the Texas Legislature is up in arms over this and are bound and determined to get that money. A source seeking anonymity tells Unfair Park that Republican State Senator Kevin Eltife was working on two bills that would have enabled Texas to receive the funding “without locking us into long-term liabilities after the money has been expended.” “We believe the legislation is constitutional,” the source says. “But the governor went his direction today, and he has that authority.” Ann Hatchitt, spokesperson Texas Workforce Commission, stresses that people who currently qualify for unemployment insurance will continue to receive benefits. She notes that the American Recovery and Reinvestment Act signed by President Obama includes provisions that enlarges the pool of people eligible for unemployment, including part-time workers and those who have left their jobs because their spouses have taken a transfer. Perry’s concern, Hatchitt tells us, is when the stimulus money runs out after 2012, the state will be forced to increase taxes for Texas employers to maintain the new programs. Only the bills from Senator Eltife could have prevented this.
The total U.S. obligations, including Social Security and Medicare benefits to be paid in the future, effectively have placed the U.S. government in bankruptcy, even before new continuing social welfare obligations embedded in the massive spending plan are taken into account.
Concomitantly ,some of the large banks in the United States , according to economists and other finance experts, are like dead men walking. A sober assessment of the growing mountain of losses from bad bets, measured in the present marketplace, would overwhelm the value of the banks’ assets, they say. The banks, in their view, are insolvent. I liken it to a blind man, in a dark room, looking for a black cat, that is not there.
It is too late.
Colonel D.X.” SIXX”
USMC
May 8th, 2009 at 7:41 am
let the banks rot.. they wont get all there money from us.
May 8th, 2009 at 1:47 pm
Hey, an idea! Why don’t we hold local fundraisers – like raffles, sponsored runs, etc – to help those ailing banks out? Any money left over could go towards the war effort in Afghanisatan …
Just a thought …