"The bailout will limit damage and prevent a catastrophic collapse of the global financial system, which would mean an extended and far more costly downturn, economists say. But the ultimate cure to what ails the economy would require time, wrenching systemic change, and a good deal of pain....
Many economists are forecasting more pain for the US economy, even with the bailout."
"Rescue no cure-all for underlying flaws" by Robert Gavin, Globe Staff | September 29, 2008
Bailouts such as the $700 billion plan for Wall Street firms can help stabilize an economy, but history shows they don't cure the deep economic problems that created a crisis in the first place.
Even after the federal government starts buying mortgage-related assets in an effort to get credit flowing again, the fundamental weaknesses of the US economy will remain, including distressed housing markets, deteriorating labor markets, and faltering consumer spending as families struggle under heavy debt, high prices for food and energy, and uncertainty about their jobs.
The bailout will limit damage and prevent a catastrophic collapse of the global financial system, which would mean an extended and far more costly downturn, economists say. But the ultimate cure to what ails the economy would require time, wrenching systemic change, and a good deal of pain.
Translation: This BAILOUT is for the GLOBALISTS and THAT'S IT!!!!!
The last major government bailout, undertaken to clean up the savings and loan crisis of the late 1980s, is widely viewed as a success.
By the GLOBALIST ELITE LOOTERS and their MSM mouthpiece;s here that BENEFITED ONCE BEFORE from a TAXPAYER BAILOUT!
Congress created the Resolution Trust Corp. in 1989 to take over and sell the assets of failed banks that had made risky real estate loans during that era's housing boom. The potential cost to taxpayers, more than $500 billion, was reduced to about $125 billion by the Resolution Trust Corp. and the remedy left behind a stronger banking system, one that has largely weathered the current crisis, analysts said.
What? Can that be ANY MORE of a LIE?
And you MADE OUT CHEAP on the LAST ONE, taxpayers -- a whole $125 BILLION dollars worth when you should have PAID NOTHING!!!!!
But the repair took the better part of a decade, and the price included the disappearance of several hundred savings banks and an economic rebound so slow that economists coined a new term to describe it: "jobless recovery."
Widely viewed as a SUCCESS, says the Boston Globe! BY WHOM, Globe shitters?
In Massachusetts, it took nine years for employment and eight years for home prices to return to their prerecession levels.
And EVEN LONGER THIS TIME -- if EVER!!!
And that is SUCCESS, according to the agenda-pushing shitters of the MSM!!!!!!
"Then, as now, we had a lending crisis that necessitated large-scale transformation of the financial system, which was painful for both Wall Street and Main Street," said Peter Ireland, a Boston College economics professor. "Unfortunately, though, we failed to learn another lesson; namely, that aggressive lending practices that go unchecked by a lax regulatory system nearly always end with pain."
But the "stronger banking system.... has largely weathered the current crisis"
PFFFTT!
Many economists are forecasting more pain for the US economy, even with the bailout. They expect the unemployment rate to rise to 7 percent before the excesses of the recent housing and credit bubbles are squeezed from the economy. They don't expect a significant recovery until 2010.
It was 2009 a few weeks ago.
The goal of the new bailout is to restore sagging confidence, which has undermined financial and credit markets.
That is a HELL of a price tag to RESTORE CONFIDENCE!
Banks and other financial firms have stopped lending to each other, worried that their counterparts might have large holdings of troubled mortgage-backed securities and related assets.
So WhereTF did ALL THOSE BILLIONS ALREADY PUMPED IN GO?
The reluctance to lend has brought the global financial system nearly to a halt, forcing the Federal Reserve and other central banks to pump hundreds of billions of dollars into the banking system.
Which the BANKS KEPT to COVER THEIR LOSSES -- and then USED the "credit crunch" to ram this GOODY GRAB BAG through Congress!!!
Nice RACKET, huh?
In turn, this reluctance to lend is filtering through the financial system, drying up credit for consumers and businesses, and worsening the downturn. Without credit, businesses can't expand and hire, families can't buy homes, cars, and other goods, and students can't get college loans. The result: The economy shrinks.
Funny how that VICIOUS CIRCLE works out for the BANKERS and their ELITE CONTROLLERS, huh? Almost as if they HAD IT PLANNED, huh?
The bailout aims to rebuild trust among financial firms and get credit markets operating normally again. Right now, firms can't sell their mortgage-related assets, even at deeply discounted prices. Under the bailout plan, the government would buy these assets, allowing the firms to get them off their books.
Translation: You will pay OVER-INFLATED PRICES for the SHIT, taxpayers!!!!
Then, once markets start operating normally again, the government would resell the assets to recoup taxpayers' money. --more--"
There is NO GUARANTEE on ANY of THAT!!!
"An oversight board would be created, and after five years, if the government had lost money on the deals, the president would be required to submit legislation to tax financial companies to recoup the losses"
Yeah, there ain't no guarantee you gettin' that $$$ back, America! NO GUARANTEE at ALL!! Thanks, DemocraPs!!!!
