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(visit the link for the full news article)
Oct. 1 (Bloomberg) -- The Democratic and Republican leaders of the U.S. Senate predicted that a $700 billion financial-rescue package would win approval tonight and urged opponents in the House to drop their objections to the bill.
Originally posted by LaoTzu
So basically "bloomberg" is saying it's a done deal. Now it's up to Congress... The question I have been asking is why the big fuss over the number 700 billion? I mean they have already spent more than that, plus the fed has proven it will and can print more money at will. So is this "bill" even about the money at ALL?
GL all.
www.bloomberg.com
(visit the link for the full news article)
Originally posted by carewemust
What I don't understand is why does the Senate expect the House to
pass an $800 billion dollar measure when they voted down the $700
billion dollar package?
Originally posted by carewemust
What I don't understand is why does the Senate expect the House to
pass an $800 billion dollar measure when they voted down the $700
billion dollar package?
Originally posted by grimreaper797
reply to post by LaoTzu
Because all that money wasn't used to buy up bad assets. We are putting all this liquidity into the market, but the bad assets are still there. The only way they are going to start lending normally is if the risk goes down. Risk will only go down when the bad assets disappear.
Not saying its right, just explaining, thats what this money is for. The other money was just to try and free up the market in other forms.
The fed has spent about one trillion dollars bailing out wall street so far this year, and those are just numbers we can keep track of. The total amount of liquidity that has been pumped into the markets is not available to the public. We do know the fed dropped 180 billion dollars into the markets, last Tuesday, and on Monday 630 Billion more was poured in, that's almost another trillion in just two days worth of injections. They add more nearly every day. The printing presses have been running non-stop, (that's why they call him helicopter Ben Bernanke) and it goes on with or without congressional approval. Our dollar has already collapsed.