The $700 billion isn't going to do anything. It will be soaked up like a sponge, just like all the other 'cave ins' by the Bush Administration.
The $700 billion will ONLY MAKE 'stuff' look better. It will be a Golden Parachuet to the markets and that is all it will be.
It will do nothing to create jobs in the USA. It will not stop this slippery slope. As the commentator states in the video at the bottom of this entry, the markets have been distracted by these enormous amounts of monies generated nearly every other day by the Bush White House through Paulson. The actual value of the markets is based on 'air' not reality. It is the "W"rong time to be throwing money at these institutions.
This 'slide' was begun years ago. All the gold in Fort Knox won't stop this one. The danger to the USA is that this will actually impinge on USA sovereignty, lower its ability to 'tool up' for any national defense stategy as it was able to before WW II and severely dampen the new administration's agenda for change. The future of the USA has to be realized as being left in the hands of a New administration in DC, along with two legislative majorities. The House of Representatives should vote NO on such an ungainly amount of 'bailout.' After all who are we bailing out? Two investment firms? That's all that is left. I don't think so.
All the bailouts, mergers and tax rebates haven't done anything to stem this and they won't. We are not seeing estimations of these current circumstances because it will undermind investor confidence. There comes a time when investors need to realize their own futures and act accordingly. This mess is nonsense. It has been realized because of GROSS incompetence in the Republican Party, blindly following Gramm the ideologue.
Open your eyes people. This IS and HAS BEEN the 'Big One.' The future has to have been secured by the states and local municipalities by now.
I heard someone state yesterday, "This is about credit and lending' and how the banks don't have enough liquidity to make loans. Well, heck making loans is what got them in this mess in the first place and if there aren't controls in place when these monies go out, there won't be any recovery. Within the past year, Carlyle Group (click here) had huge gains in its amounts of liquidity. Sorry if this sounds rhetorical, but, sooner or later folks need to realize when 'the truth' is more than rhetoric. Carlyle has been coming up like roses along side of Goldman Saks. They just have. There is no rhetoric in facts. During the past two years, these firms had huge gains in their assets and liquidity.
...Firms including Carlyle Group (click here) and Oaktree Capital Management LLC exceeded the $323.8 billion gathered in the year- earlier period, according to data compiled by London-based Preqin Ltd. Commitments to distressed funds, which focus on debt and equity of struggling companies, rose 28 percent to $33 billion, while new money for buyout funds fell 18 percent, Preqin said....
...Carlyle, based in Washington, raised $1.35 billion, more than double its $500 million target, for its Strategic Partners II fund. Oaktree won commitments for $10.9 billion, about triple the size of its 2007 fund, according to the report.
Rather than engaging a failing market, they are like a pack of vultures waiting for 'the kill' which is supposed to come in the way of a $700 billion USA bailout.
Why wait?
Why not?
Who will own the USA when this is over?
Its more for those that road the 'wave' of the Paulson manipulations. They're ready. Why do you think Bush is 'out there' soliciting the House Republicans? When has anyone ever witnessed such pandering to the legislature by Bush himself?
Why?
Because Daddy said so.
They could not care less about the people of this country, proven in a long history of their 'trickle down THEORIES.' Anyone that believes Bush is actually acting in the best interest of the nation is sorely diluting themselves. Bushes act to enhance Bushes.
When the Silverado Savings and Loan Bailout was handed to Neil Bush by George H. W. Bush they assaulted the FDIC to accomplish the salvation of their blundering and now they are standing by for the 'biggest play' of the Bush Family Empirer's Wealth Campaign. Carlyle is Saudi Arabia. The $700 billion US's biggest vulture is the Saudis.
Rubenstein: PE to rescue troubled US mortgage assets (click here)
The Carlyle co-founder said he and other private equity players would be among the biggest buyers of the distressed mortgage- and real estate-related assets set to be acquired by the US governments’ $700bn financial rescue plan.
Posted - 23 Sep 2008 20:31 GMT CET
updated - 23 Sep 2008 20:35 GMT CET
Zoe Hughes
The Carlyle Group is steeling itself to be among the largest buyers of distressed mortgage and real estate assets as part of the US government’s $700 billion financial system bailout, co-founder David Rubenstein has said.
Speaking on CNBC, Rubenstein said private equity would play a “significant” part in buying the troubled assets from the government. It came as US treasury secretary Henry Paulson and Federal Reserve chairman Ben Bernanke urged Congress to act swiftly to put in place the rescue package for troubled assets warning delay would put the economy at risk....
There was a more than annoying analogy intentionally meant to scare folks in a newprint. It is an observation about Campbell Soup and its use by soup kitchens as the subliminal message regarding the USA Economy. Campbell Soup has gone global and is achieving success on that front. It's got nothing to do with soup kitches, they receive donations. What next? The 'tale' in regard to Campbell is there are healthy companies in the market place, and Campbell is one of them.
Credit crisis soups up Campbell's profits (click here)
New Jersey-based company posted 46% rise in quarterly profits last month
Global financial collapse isn't necessarily bad news for everybody in the business world. A solitary US company, Campbell's Soup, has been standing ever taller while all around have fallen.
When Wall Street suffered the worst points fall in its history on Monday, there were 499 fallers in the Standard & Poor's 500 index. There was only one climber – the world's biggest soup manufacturer.
Wags quickly suggested this was in anticipation of long queues at soup kitchens in the Great Depression of 2008....
Campbell Completes Sale of Generale Condimentaire Condiment Business in France to Lesieur (click here)
WEBWIRE – Thursday, October 02, 2008
Campbell Soup Company (NYSE: CPB) today announced it has completed the sale of its Generale Condimentaire (GECO) business to Lesieur, a company indirectly held by Sofiproteol, the financial arm of the French oilseed producer. Campbell announced the signing of the agreement on July 31, 2008. Financial terms of the sale were not disclosed.
The GECO business comprises sauce and mayonnaise products sold under the "Lesieur" brand in France and a manufacturing facility in Dunkerque, France, which employs 100 people. Campbell previously licensed the "Lesieur" name from Lesieur and made annual payments for the use of the brand.
Campbell will focus its business in France on driving growth in the simple meals category through its market-leading "Liebig" and "Royco" soup brands.
