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  3. {OT}Financial Rescue Approaches GDP as U.S. Pledges $12.8 Trillion

{OT}Financial Rescue Approaches GDP as U.S. Pledges $12.8 Trillion

Using the USA as an ATM machine. Were did all the real money go? Someone got it, who has it?

"New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation?s gross domestic product was $14.2 trillion in 2008."

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Reply to
Fat Moe
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In article ,=20 snipped-for-privacy@BubbleWorld.Com says... =20

Hmmmmmmmm, didn't McCain propose a similiar deal & was HIGHLY criticised=20 for it by the Obama campaign & Obama himself? Unless of course I'm=20 reading into it wrong, I'm assuming they are talking about mortgages=20 which in essence is what collapsed the economy along with hedge funds. I=20 mean McCain only suggested 300 billion, unless the above article refers=20 to other negative assets included in the total?

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Reply to
ByTor

Hmmmmmmmm, didn't McCain propose a similiar deal & was HIGHLY criticised for it by the Obama campaign & Obama himself? Unless of course I'm reading into it wrong, I'm assuming they are talking about mortgages which in essence is what collapsed the economy along with hedge funds. I mean McCain only suggested 300 billion, unless the above article refers to other negative assets included in the total?

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I'm beginning to think this financial situation is sort of like the war(s) in the Middle East. It's got a life of its own and no matter who was sitting in the White House, they'd have no choice but to handle it the same way.

Reply to
JoeSpareBedroom

Freddie Mac and Fannie Mae have been doing it for years, under Bush.

Reply to
Jeff

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