Monday, March 02, 2009
MORE DEBT??
"The Obama team announced its intention to partner with the private sector to buy $500 billion to $1 trillion of distressed assets as part of its revamping of the $700 billion bank bailout last month. "
http://www.foxnews.com/politics/first100days/2009/03/02/obamas-bad-bank-plan-aims-quell-financial-crisis/
Everyone should read this article! I posted this to expand on someone’s post earlier about how Obama is following in the footsteps of Bush.. well here is another example! This plan (accordingto the article) proposes the government partner with private investors to spend a large part of the $700 billion stimulus package (and additional funds which may come from pensions) to purchase bad loans! (in other words ..to buy out defaults). This is basically another way of saying that we are attempting another bailout.. the “stimulus package” is actually another attempt at the Bush administrations “bailout”. The only thing is that Obama is actually appointing people to oversee the spending of the money!
Things are continuously looking more and more grim!!
http://www.foxnews.com/politics/first100days/2009/03/02/obamas-bad-bank-plan-aims-quell-financial-crisis/
Everyone should read this article! I posted this to expand on someone’s post earlier about how Obama is following in the footsteps of Bush.. well here is another example! This plan (accordingto the article) proposes the government partner with private investors to spend a large part of the $700 billion stimulus package (and additional funds which may come from pensions) to purchase bad loans! (in other words ..to buy out defaults). This is basically another way of saying that we are attempting another bailout.. the “stimulus package” is actually another attempt at the Bush administrations “bailout”. The only thing is that Obama is actually appointing people to oversee the spending of the money!
Things are continuously looking more and more grim!!
# posted by Anonymous @ 11:01 PM 
Comments:
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I was not surprised to see that Obama wants to shake the "money tree" again I only regret that one day I will have to pay the price for this ridiculous spending spree and we will have to look at our children and say our generation helped get him into office.
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