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Geithner: Another Trillion to the Bankers
- Text size
AFP
February 10, 2009
US Treasury Secretary Timothy Geithner unveiled a stepped-up program Tuesday to stabilize the financial system including an initial fund of 500 billion dollars to absorb toxic assets.
- A d v e r t i s e m e n t
The plan includes a public-private partnership aimed at soaking up toxic assets clogging the financial system. It also includes new efforts to boost consumer lending, limit home foreclosures and provide new capital for banks.
Geithner said the plan would “bring the full force of the United States government to bear to strengthen our financial system so that we get the economy back on track.”
A key element will be a public-private investment fund started with 500 billion dollars “with the potential to expand up to one trillion dollars,” to help cleanse the banking system of toxic real-estate assets.
This will serve the role of an aggregator bank, or “bad bank” to help financial institutions value their mortgage securities and clean up their balance sheets.
A second element will include additional capital injections into banks.
“While banks will be encouraged to access private markets to raise any additional capital needed to establish this buffer, a financial institution that has undergone a comprehensive ’stress test’ will have access to a Treasury-provided ‘capital buffer’ to help absorb losses and serve as a bridge to receiving increased private capital,” the Treasury said.
Additionally, the Treasury and Federal Reserve will expand a program to boost lending for mortgages and other consumer and business loans to up to one trillion dollars.
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February 10th, 2009 at 1:29 pm
im just so sick of this s---.
Ditto Reply:
February 10th, 2009 at 2:35 pm
Me too!!!
WeeBee Reply:
February 10th, 2009 at 3:51 pm
WHERE’S MY BAILOUT??? WHERE’S MY AID PACKAGE??? WHERE’S MY REPRESENTATION???
SCREW THE BANKSTERS, THEY’RE ALREADY RICH!
SCREW THE CORPORATIONS, THEY’RE ALREADY RICH!
BAILOUT THE PEOPLE, THEY NEED THE HELP! THEY’LL STIMULATE THE ECONOMY!
SCREW THE GOVERNMENT!!! TEAR IT DOWN!!! REPLACE EVERYONE!!!
Outrage Reply:
February 10th, 2009 at 5:35 pm
I’ve got a GREAT idea! Let’s put an unrepentant tax fraud in charge of the Treasury! That will inspire EVERYONE to be extra honest as they file their tax return! Right???
free documentaries Reply:
February 10th, 2009 at 5:55 pm
watch free documentaries online @ http://www.documentarywire.com
oldnamvet Reply:
February 11th, 2009 at 1:11 am
Dont worry this guy is just one of gods chosen,in otherwords he is a f---ing zioniest pensil neck faggot.
when ? Reply:
February 10th, 2009 at 7:11 pm
three of my friends were too this week
they were sick of it too
39 41 and 47 and they all died
nice world we live in dont you think?
February 10th, 2009 at 1:34 pm
The Global “Elite” have billions if not trillions of your hard earned tax dollars and their fake fiat money at their disposal for the purpose of enslaving us all… Now they’re taking MORE and MORE!!! I’m MAD AS HELL AND I’M NOT GONNA TAKE IT ANYMORE!!!!!!
It’s time to push back as a single united force for humanity.
http://www.youtube.com/watch?v=Uns4n_Rd1do
when ? Reply:
February 10th, 2009 at 7:12 pm
like thats ever going to happen
they have the military and black water to shoot americans
and disarm them
February 10th, 2009 at 1:34 pm
bend over here it comes again. you know when your in a hole somebody should tell you to stop fricking digging, unless that is your true plan you might even listen to the people that say digging deeper and not getting results is not a good idea!
I heard from an army wife yesterday that her husband is back from afgahanistan, he’d been to classes for PSTD, and at the class he asked the medical Dr running the class about a bill he’d recieved for a mental evaluation, he’d never been to anyone about any mental evaluation, and he’d been out of state the day he was to have been billed for being in the office. – She told me when he mentioned it in the class, the instructor asked if anyone else had this issue- everyone of the 50 people there raised their hands. The Dr said it was some sort of glitch in the system! B.S!
…. I told her, after listening to Alex Jones I know what’s going on, the new changes in gun laws would cut all these guys out of their rights to own guns in the future…this was a PA national guard unit out of Fort Indian Town Gap. Get ready people, the government is really aobut to disarm their people. This is how they are treating our troops when they come back from fighting overseas….
be ready for anything!
~Fitzy111
February 10th, 2009 at 1:36 pm
Another trillion to the Israeli blooduckers.
They have no more shame. That means it’s the endgame.
when ? Reply:
February 10th, 2009 at 7:14 pm
calling people names wont help one bit
lucifer repented Reply:
February 11th, 2009 at 2:06 am
i repent, i recant, i am no longer a bigoted kool-aider!
Christians persecuted under Islam
http://www.youtube.com/watch?v=ZWpIWDjQLUU
The trailer of Pierre Rehov’s last film ” First comes saturday then comes sunday “… First Islamist will kill all the Jews ( who pray on saturday ) then they will kill all Christians ‘( who pray on sunday )
February 10th, 2009 at 1:39 pm
Can we shoot back yet ?
Y Reply:
February 10th, 2009 at 2:02 pm
Sure, go ahead.
February 10th, 2009 at 1:41 pm
Reminds me of the time Dr. Evil held the world for ransom for “1 billion, gagillion, fafillion, shabolubalu million illion yillion…yen.” Only that was a comedy movie and this is of course real life.
The real answer is the most commonsense answer. Reduce spending, make a tactical withdrawal from our imperial adventures, and reconstitute state sovereignty while encouraging local economies built on education, knowledge, and innovation. The Malthusians were wrong!
But you’d have to be a humane, ingenious, pursuer of liberty and freedom – like our founding fathers to put forth such a proposal – and we have utter sociopathic scum running our nation. There will be no reasoning from them. We either replace their system with a better one of our own design and stop paying into their system with our taxes and lifeblood, or be prepared for a bloody, and unpredictable civil war you are not likely to win.
February 10th, 2009 at 1:42 pm
This stuff just keeps on piling up! When is it just gonna collapse already so we can start fresh?
February 10th, 2009 at 1:42 pm
Lets add this up: $7.4 Trillion + 0.5 Trillion + One MORE Trillion = $8.9 Trillion [Just call it 9]. Nine Trillion Dollars pumped directly into the coffers & pockets of the banks & banksters. And WHAT do we have to show for it? Any economic recovery out there??? There sure ain’t any where I live. In fact, THINGS HAVE GOTTEN WORSE!
So, in return for these “Toxic Assets”, we get to pay through the ass!
IF WE HAVE TO ASSUME ALL THE RISK, WE SHOULD RECIEVE ALL THE PROFITS. FOR ALL THE BANKING ACTIVITY. The formula is simple; take bailout bucks, turn over profits.
February 10th, 2009 at 1:50 pm
Well the banks need credit to lend to buisness, inflation will increase prices and increase profits to manufacturers that are paying off pre-inflation debt, increased profits will lead to increased production, and with Americans having less buying power our products will go overseas in exchange for their wealth due to new found foreign buying power in the US. Look this is how the system works.
Look we all know the system is a scam, but capitalism requires a large ponzi sceme to actually work, if not, everyones standard of living would go down because of the loss of fake wealth, we can all go back to medevil times if you’d like. Because real wealth is products and gold if you dont have extreme quantities of both you will be poor. this is all unfortunate but true.
February 10th, 2009 at 1:56 pm
Important latest breaking news !!! Important latest breaking news !!! The Gubernment
decided , in a much awaited move to help the average tax payer , that henceforth
NO MORE vaseline will be used in transactions , which means a saving of 2,600,000 Dollars ,
roughly 1 Dollar per citizen !!!
P.S. So you see , all you whiners , there are also good news out there , but that doesn’t
get your adrenalin going as much as the negative s--- , does it ?!? Sore losers !!!
February 10th, 2009 at 2:30 pm
This is not suppose to work! It is to line the bankers and elites pockets, and then nationalize the banks because everything they tried “failed” (albeit by design).
After nationalization, the beast system will be very close.
February 10th, 2009 at 2:31 pm
The f---ers are evil – every last one of them. 800 billion before to get the banks to lend, then another trillion.
f--- the banks, let them fail – we would all be better off without them.
February 10th, 2009 at 2:39 pm
The country has been shot for decades.
This is the process of the other shoe falling.
Have a water well with hand pump operation.
Learn how to breed guinea pigs. More high protein meat per space with less hassle than chickens, rabbits. Feed them on greens you grow, forget feed store product. People in Peru and Ecuador in the mountains have been doing so for centuries. They’ve long been onto something in the self-sufficiency department. Time for people in the U.S. to be on to it as well.
Hate to have to say this, but have guns and ammo. If needed, it will likely be for neighbors who did not prepare, counting on taking supplies from others (believe it, people like this really do exist, and in your neighborhoods).
Medical supplies.
Toilet paper stocked up from bulk sales facilities.
Get ready and you won’t worry nearly so much.
Keep a clear mind.
February 10th, 2009 at 3:11 pm
One trillion, two trillion, three trillion, four.
Let’s see if the American people will let us steal some more.
They are playing a game with us.
I have the same question as One, is it time to shoot back yet?
February 10th, 2009 at 3:23 pm
All you Uhmericans have to do is Storm Pennsylvania Ave ,Wall St and the like , bring em down
February 10th, 2009 at 3:40 pm
America is just a satellite nation that is here to serve the the unquenchable thirst of the Zionist moneychangers. Our (s)elected officials provide an illusion of representation that calms a majority of the dumbed down sheeple.
Make no mistake, our fate is the same as the Palestinians. All the elements are in place and the Zionists have the know how and means to close this deal. Man up or bitch out!
schvantz wasser savior Reply:
February 11th, 2009 at 2:10 am
please forgive me oh God, please have mercy on my soul, please help me stop being a bigot and an idiot, please stop my hate filled heart from creeping out the other posters, please change my heart to good
UNRWA: Lords of Misery
http://www.youtube.com/watch?v=rxyPBQirBH0
According to UNRWA, a Palestinian ” refugee ” is someone who was living in the region of Palestine… two years before the state of Israël was born. This definition doesn’t fit with international law. The grand son of a “refugee”, born in another country, cannot be called “a refugee” himself. So, what is UNRWA’s interest making sure Palestinians are not resettled ? That may be the key to this middle east conflict!
February 10th, 2009 at 3:48 pm
i’m not buying it, and i’m not going to pay for it.
February 10th, 2009 at 3:53 pm
The real question you all should be asking is, “How many additional obligations will be tied in with the bill.” I wonder how many trillion dollars this bill will obligate american citizen’s to paying?
February 10th, 2009 at 4:14 pm
wow can you say hyper inflation…friggin scary man.
February 10th, 2009 at 5:12 pm
Devil’s face in the 911 smoke.
TheGhost Reply:
February 10th, 2009 at 10:16 pm
youre stupid
February 10th, 2009 at 6:34 pm
The Grand Chessboard by Zbigniew Brzezinski
Google video analyzing what he is planning, and how he is the puppet master of Obama.
Video Link : http://video.google.com/videos.....mp;tab=wv#
February 10th, 2009 at 6:44 pm
Q: How many “stimulus” bills does it take for a light bulb to go up over people heads to understand that they’re being screwed? redpill8
Observation: If aware, then what’s up with the deer caught in the headlights or hurry up and wait routine?
February 10th, 2009 at 7:12 pm
Jews helping f---ing Jews. Same old story. They cum and we clean up the mess.
TheGhost Reply:
February 10th, 2009 at 10:17 pm
you can clean up my mess with your favorite band shirt
February 10th, 2009 at 7:17 pm
i try to educate people on austrian economics so far i have been told to shove it up my ass
to die to hang myself to f--- off that i dont know what i am talking about
and the list goes on and on and on
so whats my answer? I know what it should be I know what god expects
but instead its I dont care I hope a million f---ing millionaires hang themselves
I hope ten million asshole drug idiots get rounded up and thrown in prison
cause the truth is no one gives a s--- about anyone
there a ten million people that would put a bullet in my head for fifty grand
if someone would PAY THEM
this world has become nothing but a world of MONEY LOVERS
we dont love god we dont even believe in god and we sure the f--- dont know how to love each other
and frankly I dont think we ever will
khazaria Reply:
February 11th, 2009 at 2:07 am
hey somebody just emailed me this, boy was i misinformed
http://talmud.faithweb.com/articles/intro.html
Anti-Talmud accusations have a long history dating back to the 13th century when the associates of the Inquisition attempted to defame Jews and their religion [see Yitzchak Baer, A History of Jews in Christian Spain, vol. I pp. 150-185]. The early material compiled by hateful preachers like Raymond Martini and Nicholas Donin remain the basis of all subsequent accusations against the Talmud. Some are true, most are false and based on quotations taken out of context, and some are total fabrications [see Baer, ch. 4 f. 54, 82 that it has been proven that Raymond Martini forged quotations]. On the internet today we can find many of these old accusations being rehashed and this site is an attempt to correct the mistakes and put the true quotes into their proper perspective.
February 10th, 2009 at 10:12 pm
It will continue to happen as long as the average American citizen sits on his or her arse. Unfortunately, it may already be too late!!!
February 11th, 2009 at 10:02 am
Has anyone notice the multiple use of the American flags in the background when either Obama or his cabinet speaking to the press or some other photo ops?
February 11th, 2009 at 11:20 am
Anyone remember that episode of The Simpsons where Mr. Burns is pursued by the Internal Revenue Service because he stole a trillion-dollar bill from the U.S. Mint?
February 11th, 2009 at 12:31 pm
After reading the whole article, we are still looking in vain for a real plan to create about one million living wage jobs a month for the next 48 months so that the economy can get going again. Have you all noticed that for all of the trillions of dollars being “pledged” over the last half-year that hundreds of thousands of people have continued to loose their jobs? No jobs, no car purchases, no house purchases, people radically tightening their belts regarding their purchases of everything…let’s see, can’t make this up, recent headline in Investors Business Daily says Americans are “hoarding cash”…! yeah, we’re all “hoarding cash”, that’s a real good one! (It’s the banks that are getting the bailouts that are hoarding cash in their overseas subsidiaries, but no one at the Fed can bring themselves to admit THAT).
February 11th, 2009 at 1:54 pm
ARGH…..! Nap time is over.
The country is handled like CEO’s handle a company. Who gave away the ability that put us in harms way for selfish purposes and/or sadistic pleasures? We gave these thieves the power to manipulate, their lap of luxury and rule over us. And for our generosity we get to be discarded and deemed irrelevant to any decision making that affects our lives. The self defeating message we broadcast: “woh is me”, stock up, self sufficiency, faith, buckle-up, etc. just gives more credence to what The Illuminists, Elite, NWO or whatever is proclaiming. The people/country is helpless and hapless. The world needs to be managed (extorted) under their watchful eye. Would most, at least agree, this is an orchestrated political and economic implosion? Would most, at least agree, that fire does not implode or pulverize skyscrapers? Would most, at least agree, there were no WMD? The point: Get Serious.
The one chance we have is already being whittled down. Use it or loose it.
February 11th, 2009 at 2:00 pm
They are hoarding their cash to Dubai where there are no taxes. They are bleeding America of her wealth to the point where the people will have nothing but the cars they have to live in.
February 11th, 2009 at 3:10 pm
I don’t understand for the life of me why GEITHNER wasn’t dismissed immediately for tax evasion and he should have never been appointed in the first place. If I read correctly, he was in the New York IMF and was part of the banking problem in the first place.
February 11th, 2009 at 3:18 pm
Credit card rebellion website is now musical. Please revisit.
http://bringthemtotheirknees.com