Monday: "Bail me out too, facing Wallstreet opening, deal to sign, congress veto power

Sept-29 Monday

Top 3 points Of US Bank Bail-Out Plan

• Allows the government to purchase troubled assets from pension plans, local governments, and small banks that serve low- and middle-income families
• Cuts the initial bail-out of $700bn to $350: gives Congress a veto power over future payments.
• Protection for homeowners facing foreclosure - the root cause of the crisis, with up to two million foreclosures possible in the next year.

"Bail me out too, Black book" Comment:
150 US Banks in Trouble like WaMU. Rescue financing needed: $10 000 bn.No economy package, no income, how to pay homes. Roaring gang crime income instead.
Political and economic isolation of the US. Conflicts inside US cities to break out.
NEW YORK, Financial services firms and executives have been generous givers to museums, colleges, hospitals and social service organizations, NY and world, NGOs no bail out. BANKRUPTCY CHAPTER 11 DEADLINE GM 2009 / Q3. GM could start to run out of cash by the second half of 2009 ($450bn to finance)). Int'l voices say meanwhile, 10 - 15 years recovery time for US.

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Sept-28  22:00 pm UK time

Legislation proposed, not passed.

US Senator Judd Gregg has said that politicians have agreed the key details of a $700bn financial rescue package."We may lose some money, we may break even or we may make some money."My gut tells me we're going to make money as taxpayers."

Funny comment: taxpayers make money by paying bankruptcy of banks. The rest of the world will not invest in US banks, Only institutional offshore hedge funds with non declared money sources stay. They can not inject the money in the real production economy.

No deal signed, monday Wall street opening ???

Int'l Observers lost confidence, Wednesday voting in senate

Banks are not confident, don' t lend money to each other..Interbanking on hold. Bankers say:  Wall street losing, now you make money the old fashioned way, you earn it.

Paulson, ex Goldman and Pelosi, house speaker to hammer a real deal, that comes into action ? People asking, who bails out me ?  The reality a 10 - 15 years repair job was not disclosed. Who should be the insurance company, to pay the the imposed Fees on Financial firms, if taxpayer lose money, AIG perhaps ?

PP can not handle the problem build up in the last 8 years of Greenspan/Bush spending. They look both tired, are not used to "black out" situations....

Bail me out too, monday D-Day PP Paulson-Pelosi

House of Representatives Speaker Nancy Pelosi briefed reporters:

"We've made great progress," she said. "We have to get it committed to paper so we can formally agree."Treasury Secretary Henry Paulson added: "I think we're there."We've been working very hard on this and we've made great progress toward a deal, which will work and will be effective in the marketplace, and, you know, effective for all Americans."

Negotiators were hopeful an agreement could be reached sooner rather than later so as to reassure the panicked US and global markets before they open on Monday.

Update Monday