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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (41828)	10/26/2008 6:35:24 AM
From: GROUND ZERO™	1 Recommendation Read Replies (1) \| Respond to of 218108

The $700 Billion FRAUD on taxpayers... THE BAILOUT IS TURNING OUT TO BE FAR DIFFERENT FROM WHAT WAS SOLD TO THE AMERICAN TAXPAYERS. WASHINGTON — First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets. Then it was about using $250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again. But reports surfaced that bankers might instead use the money to buy other banks, pay dividends, give employees a raise and executives a bonus, or just sit on it. Insurance companies now want a piece; maybe automakers, too, even though Congress has approved $25 billion in low-interest loans for them. Three weeks after becoming law, and with the first dollar of the $700 billion yet to go out, officials are just beginning to talk about helping a few strapped homeowners keep the foreclosure wolf from the door. As the crisis worsens, the government's reaction keeps changing. Lawmakers in both parties are starting to gripe that the bailout is turning out to be far different from what was sold to the American taxpayers. foxnews.com GZ