...She says the bailout should include provisions to help families facing foreclosure to stay in their homes, as well as create jobs, extend unemployment benefits and prevent CEOs of failed companies to leave with multimillion-dollar "golden parachutes."...
To simply 'hand out' money in the way of a bailout does not insure the well being of our country. According to Hank Paulson we even have to extend the bailout to other countries.
I don't think so.
If other investment firms came to the USA to make a profit and attempt to help Americans with their purchases of homes to enhance their future security then the 'real security' lies in the financial security of the American family, their job security, their wellness and a promise to a future that is not undermined by Republican priorities that destroy lives and deplete the quality of life.
If Hank Paulson can ask Congress for nearly a trillion $US to bailout financial institutions, including those institutions in other countries, then there is no reason why those same monies can't go directly to the people facing foreclosure. This is such a scam its hideous.
You put a CEO at the top of the USA Treasury, what will he do? He'll seek to 'handle it' with only fiscal outcomes being the focus.
If you put a 'human being' at the top of the USA Treasury, they will see 'the people' being disaffected and act accordingly. The people in the Bush Executive Branch like their big banks, big money and big projects. We don't need them, we need Democrats to 'handle' Hank because the guy is indiscriminately insensitive to the real victims of these issues and that IS The American People. He couldn't care less and it shows at every turn.
There is no reason for what is transpiring. Bush and his financial 'Whiz-Kids' don't seem to understand good accounting practices, so they simply undo the entire infrastructure and watch the entire economic infrastructure disintegrate until it meets their satisfaction.
So, let's see if i get this right.
Countrywide Financial (click here) gets bought out by Bank of America (one of the larger surviving banks today) in January 2008 and all of a sudden everything else falls apart. Subprime lending is the culprit and therefore every financial institution is tainted by this form of lending.
NOT.
It would seem as though out of seek panic, Bernanke and Paulson decide that holding everyone's feet to the fire, while freezing everything, in the way that "Mark to Marketing" can will bring about the destruction of all the 'bad credit' in the world and then they can 'ride the ignorant' in the country into the ground while having dominion over a trillion $US to power play any advantage they can get out of it.
All this HAS to occur according to Hank because there is JUST NO TIME to explain 'the plan' to Congress. So, therefore, Congress HAS to pass a trillion $US spending bill on Monday to give confidence to the markets EVEN THOUGH the details can be worked out later.
???????????????????????????????what??????????????????????????
Why would lack of details instill confidence? Simply panic? Yeah.
Others panic is NOT a problem for me or for Congress. What will result in a huge deficit for the USA while the people of this country flounder will be a windfall for people other than the ones most disaffected.I 'do not buy' the fact that details aren't important and if others think a bill opening up that level of power to ONE man in an office in DC is reassurance, it ain't. Look who got us into this mess. And he has an answer?
I don't think so.
NOR that the consumers of the USA should not be the focus of this 'bailout.'
The Congress needs to run an investigation to the causes of 'such a rush to judgement' by Hank when in fact the 'writing was on the wall' the entire time and in plenty of time to 'have a detailed plan.'
It is an outrage that the USA Treasury which has seen many people in that Secretary's seat including a man that resigned in the first years of this administration, can't 'detail' a plan that is supposed to be worth a trillion $US. I find that blatant incompetence and the American people are AGAIN asked to carry the burden of this White House's blundering.
I think foreign banks are managing 'JUST FINE.'
AUB secures US$ 800 Million syndicated loan facility (click here)
21 September 2008
"We are extremely pleased by the response to the facility. The success of the syndication in difficult international market conditions is proof of AUB, AUB's reputation in the market and the confidence that the participating banks have in our strategies." said Michael Collis, Senior Deputy Group CEO, Ahli United Bank, Ahli United Bank.
Ahli United Bank B.S.C. (AUB or Group), Ahli United Bank B.S.C. (AUB or Group) a 40.5% rise in net profits for the first half of 2008 of US$ 211.7 million, as compared to the same period last year. Operating income to 30 June 2008 stood at a record US$ 461 million (30 June 2007 - US$ 313.1 million). As of 30 June 2008, the Group's total assets stood at US$ 27 billion, an increase of 17.4% over 31 December 2007, reflecting robust growth. The growth was funded by an increase in customers' deposits by US$ 3.2 billion (+30%). Inter-bank deposits as of 30 June 2008 rose to US$ 7.4 billion.
