These are some of the comments from a news site today>>>>>>>
MARKETEXPERT 20 minutes ago
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Points To Ponder:
Headline today should have read "No Bailout Needed" :
This proposed bailout is under the guise as stablizing Wall Street,
but in fact its a "gift" to the Commercial Banks/Goldman Sachs/Merrill Lynch/
Morgan Stanley. The current administration is bailing out corporate america
at taxpayors expense, with still no regulations/rules in place to stop
the greed and "casino" atmosphere of Wall Street! The total bailout cost
of all the worthless paper I estimate to be actually about $ 2 Trillion dollars! I did read a blog on MarketWatch today that mentioned the real
reason to rush this "bailout" is because of the 100's of Billions of hedge
funds coming due next week. I find it interesting that the SEC banned
short selling a few days prior to this "bailout" talk mid last week. Seems
the small time investor is getting restricted but a day later the talk is
about bailing out Wall Street????
There still is no rules/supervision in place for the swapping of the bad
mortgage paper at the Federal Discount Window for fresh billions of monies
to be used in return at the "discretion" of the big Wall Street "players".
Yet, the European Cental Bank put into place recently very strict rules
for their own European Discount Window and what a Bank their in Europe
can actually do with there swapped monies????
Also all the movement between the Dow and Oil/Treasuries/Gold is with this
Fed Discount monies/monoply money that has been evident in the Market the
past several months, huge inflows of this money back and forth, probably
close to a few Trillion a day, just to shore up there respective "positions"
in the market, at tax payers expense!!!!!
This proposed bailout will make the housing crisis a lot worse, most of the
4 million households late 60 days plus on there mortgage not yet in foreclosure, this will be now a incentive for the banks to foreclose instead
of reworking a mortgage, since they can send in to the new Fed bailout program
and maybe even be money ahead!
You have to ask why would the Fed wants to push this bailout quickly through
the system this week without any rules in place to govern and oversee? Read
my aforementioned the answer is in part noted above in my briefing.
This bailout by the way proposed would bail out China's 100' Billions of greed
investments the past few years in these same derivatives,etc... . So the Chineese are very happy to hope this bailout happens!!!11
Other Points to ponder:
National Debt $ 10 Trillion; $ 1.5 Billion in interest per day on this debt!
$ 1 Trillion withdrawan out the Social Security fund the past 7/8 eight years!
Probably another $ 500 billion withdrawan out of the social security fund the
8/9 months!!!
The Medicare fund probably has about another $ 1 Trillion withdrawan the past
7/8 years!
Bloomberg article $ 900 billion of bonds held by commercial banks coming due
at higher rates in the next several months.
*Major oil refiners inport the oil refine it to gasoline here and in part
ship it via tanker this same refined gasoline to the Europeans for a higher
profit. Read today there tappin the strategic reserve of oil, hope there is
oversight to make sure this oil inparticular refined is not being sent over
to Europe for higher profits!11
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