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Treasury prepares to broaden bailout plan
- Text size
Julie Vorman
Reuters
November 9, 2008
The Treasury Department is preparing to open its $700 billion bailout package to companies outside the traditional banking sector, the Washington Post reported on Friday.
- A d v e r t i s e m e n t
The initiative would make it easier for the Treasury Department to help a broader variety of firms if their troubles put the wider financial system at risk, the newspaper reported. However, the companies would still have to be financial firms that fall under federal regulators, it said, citing unnamed sources.
The plan, to be announced late next week at the earliest, could ultimately involve “hundreds of billions” of dollars in the $700 billion program, the Post said.
Companies best positioned to receive the government money may be those that resemble banks and engage in lending to businesses or consumers, the newspaper said. Treasury Department officials are evaluating which financial companies could become a bank or thrift holding company and remain viable in the long run, it said.
However, companies like GMAC, which finances auto purchases, could face difficulties because of a long-standing government rule that a commercial business cannot own more than 24.9 percent of a bank, the newspaper said. General Motors owns 49 percent of GMAC.
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November 9th, 2008 at 10:24 am
OBAMA WILL BRING THE MARK OF THE BEAST!
READ PROOF OF OBAMA’S LUCIFERAIN CONNECTION…
http://www.pinnacleheadlinenws.weebly.com
November 9th, 2008 at 10:57 am
They are already in bed together, might as well spend some money for the favors
November 9th, 2008 at 11:04 am
Of course they are. Did we think it would be otherwise? This corporation is known for its “better to beg forgiveness than permission” behavior. I don’t think this government will ever give us an true and actual budget for anything. They are a “cost-plus” organization.
November 9th, 2008 at 11:18 am
http://pinnacleheadlinenws.weebly.com PAGE NOT FOUND
November 9th, 2008 at 11:31 am
Now, these motherf---ers are the real problem. They are the enemy. They should be our focus of energy and intellect.
By the way, Anthony, I pulled up that site. That actually was a very good speech by our President-Elect. Thanks for the reference. What part did you disagree with.
You might want to find a better speech than that one if your trying to establish that our President-Elect is the anti-christ. I wouldnt be using one that makes him look good, smart, tolerant and peaceful.
But we all know that’s a lie, right?
November 9th, 2008 at 11:36 am
Congress and the Senate keep giving away more of our money to the rich elite and to Corporate America! Congress and the Senate voted against the American people, and blatantly ignored the will of the American people when they casted their vote for the bail out! American’s should have casted their vote against them on election day, but as usual American’s keep voting the same idiots who voted against what they wanted back into office! So you see it’s never going to change, because people will never change their ways until it’s too late! The more people post comments on this site the more things just stay the same are even get worse! What’s it going to take before the American people get off their asses and do something! Mean while all we can do is try to get the truth out, and pray for a miracle. I would like to be positive, but I just dont see the American people doing anything. I hope I’m wrong.
November 9th, 2008 at 11:46 am
Just remember when you file your taxes you swear under penalties of perjury you owe your share of these bailouts and other bailouts.
As long as the American people keep voluntarily paying these lying thieves, they will continue to get ripped off.
November 9th, 2008 at 11:57 am
Obama is arranging for a strike on Iran which will destroy the middle class. Stock up on necessities and Learn proper natural health Care
http://www.curecabinet.com
November 9th, 2008 at 12:06 pm
i watched a movie the other day. it was about a clever guy who randomly put landmines in the corporate farmers fields. the effects from such on act were catastrophic.
the farmers in the movie were unable to harvest a majority of their crops. a few tried and they got blown up while harvesting. the farmers couldn’t harvest so the city folk began starving due to major shortages. millions of acres of farmland were ruined. there wasn’t enough K-9 units to sniff out all the acres. most farmers quit because they didn’t want to risk their life.
November 9th, 2008 at 12:32 pm
If I could do the calculations to how much the bailout will cost me I wouldnt pay a single penny, and notice they plan to try and help firms after giving the bonus packages to the ceo buddies. Not helping the auto industry or loaning the money back to the people (who’s money it is to begin with) these guys are corrupt greedy bastards
November 9th, 2008 at 1:17 pm
Does the government not understand that we the people do not want to spend our money bailing out these corperations. Im tired of talking, tired of listening and tired of these hell hounds raping me for all i’m worth. f--- all of this s---. You people can sit around here and talk about it all you want to and get nothing accomplished. Im outa here. Keep bending over. you will learn to like it.
November 9th, 2008 at 1:53 pm
you want a revolution…..come join me, i’ve just started to gather people…new group on facebook, Revolution started…come and join. its a gathering ground to get this started.
peace be with you alex, and to all that follow.
November 9th, 2008 at 2:06 pm
Gary, evidently you don’t know anything at all about what the Bible says about the antichrist. You need to read it. He comes on the world stage as a man that is, to use your words, good, smart, tolerant, and peaceful, and deceives the whole world.
He comes as a peacemaker, a man that will bring peace to the world and he is admired worldwide. The whole world will be convinced that this man will deliver the world from all of it’s problems. All of the above fits Obama to a tee. It’s only after the antichrist lures the world into a false sense of peace, that all hell breaks loose. I’m not saying that Obama is the antichrist, but so far he fits him to a tee.
November 9th, 2008 at 2:14 pm
….The Treasury Department is preparing to open “its” $700 billion bailout….
This bailout is not the Treasury’s.. It is the fuuture labor of the US citzen taken in advance by our legislators catering to Wall Street bankers. If the US was not bankrupt since 1971 this measure still wouldn’t pull us out of this illusion we call an economy. It boilds down to little pieces of paper called “Federal Reserve notes” woorking against debt in the form of credit and loans on things in a society backed by nothing but the “full faith and credit” of a GVt that jumped the tracks in 1913.
It works for the bankers though. They take no risks.
You risk your livelyhood for real property promising to pay the FED back in the ofrm of paper backed by nothing.
November 9th, 2008 at 3:47 pm
Bailout? Sure, sure! “Now the banks have money to lend” eh? Hundreds of thousands of folks have lost their jobs, millions more have lost their jobs over the last ten years…exactly WHO are the banks going to be lending money to if people don’t have the second requirement for getting a loan: the desire and ABILITY to repay?? The “ability to repay” that comes from employment? Missing in all of their equations is an important detail called “living wage jobs”!
November 9th, 2008 at 3:52 pm
I guess the new Nazi mantra will be “Barak Hussein Obama ist der Sieg. Sieg heil! Sieg Heil! Sieg Heil!” isn’t it amazing that the only thing to change was the name of the leader. I guess THAT’S the change Obama promised.
God help us all.
November 9th, 2008 at 3:54 pm
+++++++++++WANT TO SEE AND HEAR SOMETHING THAT WILL KNOCK YOUR SOCKS OFF??? Go to ————————TRUNEWS.COM——————and look and LISTEN! John3:36
November 9th, 2008 at 5:16 pm
I really try not to be biased and attempt at all times to treat others the way I’d like to be treated, but when it comes to neocon zionist jews, I cannnot help but to observe they run the show and appear to be absolutely deceptive and evil, hence the US biased favoritism of Israel…Obama has already pledged $40 Billion to Isreal’s defense, and he isn’t even in the white house, yet! Who owns and controls the illegal federal reserve bank that charges interest on monoploy money printed out of thin air and backed by nothing? Who controls Congress? Who owns wallstreet? Who finances wars by decption? Etc. Etc. Etc. In every major case the answers are: neocon zionist jews! Why are these questions not taught in schools and/or discussed on our controlled MSM (main stream media)? Oh, yeah, neocon zionist jews control the major media outlets, as well. And we wonder why our world seeks war for profit? Peace.
November 9th, 2008 at 5:26 pm
Gee. I guess the first round of CEO bonuses is already spent! This is post modern highway robbery- wrapped/ribbon/ w/Hallmark card to look like “helping the economy”. Only the drooling sheeple who worship the image that both speaks and moves (tv/computer) would buy this BS.
F it. Turn in your guns, take your flu shots, and wash down the flouride with corporate kool aid.
November 9th, 2008 at 5:32 pm
I bet yacht and private jet sales for bankers are soaring !
While the stupid taxpayers keep paying those taxes on time like lemmings.
November 9th, 2008 at 5:47 pm
If your planning for a controlled and more corrupt world. A world with many private institutions designed for surveillance, policing, martial law, jailing and torturing all opposition. A china model if you wish, you will require lots of bribing and lots of money at the top, and it’s all beginning to unfold in the nick of time. Welcome to Change America and the rest of the world to follow. But it will be for your good folks !
November 9th, 2008 at 5:49 pm
I bet yacht and private jet sales for bankers are soaring
Now these also happen to be the people who are the most concerned about greenhouse gases and carbon emission problems. Go figure !
November 9th, 2008 at 6:07 pm
Well…here ya go. you wanted some to start this thing….well i am.
Come and join my face book page i have just started today. ( Revolution Started) I am gathering people and have started an event. My proposal to everyone is….I get 5000 people and we have a peaceful protest outside the big house in Washington. so come and join me..fight the fight.
This needs to happen before the new president takes office. So i have made the event for Jan 2 starting at 10:00am and ending 1:00 pm on the 3rd so everyone can get back to there families….
thanks for your time….please help….Im begging, no more talk.
November 9th, 2008 at 7:11 pm
Hi guys,
Have you checked out http://hookk.com ?
Brilliantly simple tool to help get the word out by infobombing the mainstream media. You can hookk an article on any mainstream or alternative news site and it appears right next to the page it’s from. It then goes to the homepage if busy enough. There are a few from prisonplanet and infowars on there. Getting fairly popular and the best thing is there is no signup.
November 9th, 2008 at 8:21 pm
This is such a joke – as most of you informed readers know. That $700B is just the beginning. There will be a couple of trillions more to be doled out for the mens club – ‘Jeeves – light this cigar slave’. How stupid does Rueters think “we” are? (Oops it was not written for readers of this site). I wouldn’t be surprised if that initial $700B is already spent. Get prepared for the super staghyperflation when all this money is being circulated. Please sir – can you spare a few grand $$$ (dime). God help us all!!!!
November 9th, 2008 at 9:32 pm
ll this is part of a plan’ Read the following articles and it will become clear. The plan is laid out and all these events seem chaotic.. Byut as they say.. “There is a method to the madness”… It also has a name.. “The Cloward-PRiven Strategy” (or is that “strategery”?)
Barack Obama and the Strategy of Manufactured Crisis
http://www.americanthinker.com.....ategy.html
This article explains in plain English why and what methods were used to break the back of the US.. with it’s own laws.
November 9th, 2008 at 9:58 pm
A Social Security bail out, I guess is not in the “cards?”
November 10th, 2008 at 9:29 am
11/7/08 THE VILLAGE OF SHUSHARY, LENINGRAD REGION.President Dmitry Medvedev attended the opening of the General Motors Auto Assembly Plant.
Mr Medvedev visited the plant’s shops, talked to the company’s managers and watched the processes of welding and car assembly.
Dmitry Medvedev said that General Motors has fulfilled all its obligations by creating a new, modern assembly plant near St Petersburg. According to Mr Medvedev, this is a good example of full-value investment cooperation between Russia and the United States and $ 300 million represents a good investment.
The President drew attention to the possibility of expanding the project and noted that if the project is developed successfully parties can envisage not only increasing the number of cars produced but also producing a significant portion of their components in Russia.
At the initial stage the plant intends to produce 60,000 cars a year, among them Chevrolet Captiva and Opel Antara, and in the longer term, also Chevrolet Cruze.
General Motors has been working in Russia since 1992
November 10th, 2008 at 9:35 am
rob,
actually from the carolina journal, senate seeks to confiscate 401k’s and ira’s and tax at bonus rates to “spread” it around to give all americans a guaranteed social security account of equal proportion, no more inheritence folks, no more if you pull it they tax you anyway and hope those dollars are the ones were using in 10 years.
November 10th, 2008 at 9:39 am
The ole Rules are Rules would apply to GMAC, but not to money stealing banks that caused the thing. We can spend Trillions to blow S–T up, we can give Trillions to the D.O.D for them to lose, but we just can’t help out our big manufacture’s ? God help us, we are just almost too dumb to function. Like Biden threaten that something big will happen, when it is just the U.S/Israel blowing S–T up, as if someone else would attack the U.S. The one good thing is all the press corp who are going along with this are going to be in the same boat we are in.
November 10th, 2008 at 10:09 am
The Money Masters (.com) needs to be studied by all of us regarding ultimately solving our financial problems.
First we must stop all this foreclosure business, here is a plan of action:
I submit that a government mandate (federal) Act of Congress can be immediately passed that would instantly mark all single family owner-occupied home loans to zero percent, for the remaining loan term. In the case that the loans were made from private lenders, the government would instantly refinance the loan at zero percent, 30 years term, instantly paying back the private lender.
Loan payments would thus be $278.00 per month per $100,000.00 Doing the math, a $400,000.00 home loan would cost $1,112.00 per month, plus property tax, and insurance.
Housing prices would instantly stabilize, strict underwriting going forward would rule the marketplace. Homeowners who are losing their jobs will instantly be able to find work, at lower pay scales, knowing they can safely stay in their homes. Many small restaurants, dry cleaners, coffee shops, etc., will again see customers in their stores. This is a “bottom up bail-out”!
This is completely doable, our congress can lead the way, this eliminates the bankers’ bailout as our only hope, allowing the politicians, and bankers to figure out their “bailouts”, without destroying our nations’ overwhelmingly good folks.
This simple solution will immediately stop almost all the foreclosures, instantly stop all the panic in our nation.
All Collateralized Debt Obligations (CDO) will immediately stop almost all loss of principle value, losing only the interest rate of return, All Credit Default Swaps (CDS) will immediately stop almost all losses, as no more defaults on the underlying loans are occurring.
Our country can then begin the process of stopping the current system, the Federal Reserve, and fractional lending will be overturned. Common sense is the way out of all this mess.We can then as a nation of good folks, begin to save money, and become more productive lacking taking on new debts at alarming rates. Buying items when we have the money saved, large down payments on homes will be the rule, also on cars, boats, etc.
There are other ideas that can help renters, and small business owners, but starting with this one Act of Congress, we will be on our way to healing from this financial mess. Send this to your congressional representative, get involved with a simple letter.
November 10th, 2008 at 10:28 am
It was 860 billion, not 700!!!! They found a way to get more money so they made thepublic think we did something good and got it kicked out… NO! They wanted to show you how stupid we are and our voice means nothing, they will do as they please.
November 10th, 2008 at 11:47 am
You can not stop the bankers.
Until we, the United States, controls and issues our own currency, there is nothing that will change.
You will have no say in anything, you will do as they say, and nothing will stop them.
The Federal Reserve System and the Internal Revenue Service elimination should be the only topic every discussed until we abolish both.
Only one of two scenarios will happen. 1) The people will rise up against these two monsters of destruction and eliminate them both. Or 2) The people will do nothing to the powers that be, and the nation, along with your 401K’s, your Social Security, and your futures will belong to them, and they will distribute to those they wish, your earnings.
What the f--- are you people waiting for???????
Cowards all of us.
November 10th, 2008 at 6:28 pm
Samuel Adams
“If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home and leave us in peace. We seek not your council, nor your arms. Crouch down and lick the hand that feeds you; and may posterity forget that ye were our country men.”
November 11th, 2008 at 12:34 pm
I think I’m going to open a whore house and use some of the profits to lend money… Wouldn’t that make me a “bank as opposed to a pimp or a loan shark”?
Better yet, when I went to the FED discount window to borrow money I could show them photos of the broken legs of people who failed to make a loan payment on time. A couple of mob enforcers has to be better “collateral” than some of those fraudlent “credit default swaps” that Goldman Sachs invented.