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Post by jeffolie on Mar 24, 2008 17:22:11 GMT -6
printing an unlimited amount of money to keep help Wall St. With the full support of Congress, (including Senators Clinton, Obama and McCain) the Fed is giving copious quantities of cash to the big investment banks that got us into this mess. No one is being held accountable. These banks will spend the cash. But when its gone, the mortgage default problem will still be there. We are committed to printing an unlimited amount of money to keep a small number of insider institutions solvent. This would appear to be a high risk and very inflationary strategy. www.financialsense.com/editorials/cooke/2008/0324.html
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Post by unlawflcombatnt on Mar 26, 2008 3:39:20 GMT -6
The investment banks are using the money to pay off their bad debts, and to re-invest in something with better returns. They're not going to loan out a penny more money, unless it looks more profitable (and safer) than investing in Treasuries or commodities.
This is a great way to make sure only the richest get bailed out -- and then only by non-rich taxpayers.
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