Truemors
Bad Bank
Paulson, Pelosi had the task to announce the "Bad bank" creation finally by the US
government. Originally the banks themselves prposed a $70 bn "Bad bank". Obviously the
$70bn would have been just peanuts. That means the US heading for inflation next year.
Everything inthe Supermarket gets more expensive, bread, meat.
Newpaper comments EU
European newspapers say US has to stop costs of war and the military budget signed this
week $613bn topped by $300 bn upfront BadBank loans bailed out, $ 1 trillion to pay by
the taxpayer? The rich are offshore, the middle class chased out of theit home, so
nobody able to pay the bill means inflationary printed dollars.
European crisis bad loans
Top secret, the spanish home builder collapse ended the boom, now bad credits have been
sold to the ECB european central bank. Nobody should know. Why can ordinary people not
sell their bad loans? They are worthless, no buyers. If government entities say they
buy, that means they just pay with inflation money. Result food prices soar in european
super markets. The european union has for sure no shortage of food, prices increase on
inflation caused by speculators bad loans.
The federal government, in what may be its most far-reaching attempt yet to contain the financial crisis, is poised to establish a program to let banks get rid of mortgage-related assets that have been hard to value and harder to trade.
Leaders from the House and the Senate were briefed on Thursday evening by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke.
"The root cause of distress in capital markets is the real estate correction and what's going on in terms of the price declines in real estate," Paulson said at a press briefing after the meeting. "So we're coming together to work for an expeditious solution aimed right at the heart of this problem, which is illiquid assets on financial institutions' balance sheets."
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