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View Full Version : Dollar Saved... End Still Nigh


thefabfive
31st August 2007, 04:36 PM
Bernanke: Mortgage mess not Fed's problem

The Federal Reserve is poised to protect the markets, but there seems to be no interest rate cut in the future.

“It is not the responsibility of the Federal Reserve — nor would it be appropriate — to protect lenders and investors from the consequences of their financial decisions,” remarked Fed chairman Ben Bernanke at the Federal Reserve Bank of Kansas City’s Economic Symposium today in Jackson Hole, Wyo.

http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20070831/REG/70831012

touchring
31st August 2007, 05:05 PM
I thought the latest news is a fiscal bailout.

Maybe come out with a subsidized housing program? Buy over all the foreclosed houses, put them under the state, and rent to these people for low fee?

The europeans get back their money, and the poor people get to keep their home! Win win. :)

Rubber Duck
31st August 2007, 05:11 PM
Usual Bush economics. He will borrow from the abroad to hand out money to unwise speculators. This way demand for dollars increases, and markets are stabilised. Perfect plan. The only catch is that you need investors prepared to take on the risk at current rates of return with the knowledge that the medium term prospects for the dollar are grim.

This is where the Markets got into trouble in the first place. The banks assumed that they could lay everything off with the mugs across the pond. The wheels fell off when they failed to lay the debt off in the manner anticipated. The bottom line is Bush doesn't have any money to hand out. If he does make handouts, he either has to borrow it or raise a lot more in taxes. It is know as being between a rock and hard place. Of course, he will try to lie his way out as ever, but will anyone be listening?

touchring
31st August 2007, 05:16 PM
I'm sure the Britain will buy this new "Subprime Treasury Bonds".

It's the duty of the 'most important' ally. :o

mdw
31st August 2007, 05:16 PM
http://merlin.alleg.edu/employee/a/acarr/pix/end4.gif

Rubber Duck
31st August 2007, 05:20 PM
I'm sure the Britain will buy this new "Subprime Treasury Bonds".

It's the duty of the 'most important' ally. :o

That is the inescapable logic!

If he were really smart, he would start charging for his global protection racket.

xxbossmanxx
31st August 2007, 07:16 PM
We are handing out 50 billion more for iraq. UK matching it?