mojocatt: (Default)
[personal profile] mojocatt
Well well well. I suppose it had to happen. But if you live in the United States, and pay taxes, you are now invested in $1,300,000,000,000.00 in bad loans.

If he's right about the $500 billion, the headline figure on the government's attempts to stem the credit crisis hits $1.3 trillion. That includes all the loans, investments and new programs committed by the Federal Reserve and Treasury this year.
http://money.cnn.com/2008/09/19/news/economy/paulson_plan_cost/index.htm

Congratulations.

You could have purchased 435,073,627,844 Egg-and-Muffin 2-Slice Toaster and Egg Poachers and made 435,073,627,844 poached eggs and 870,147,255,689 muffin halves.



-----------------------------

Meme time.

1. Take a picture of yourself right now.
2. Don't change your clothes, don't fix your hair...just take a picture.
3. Post that picture with NO editing.
4. Post these instructions with your picture.

Date: 2008-09-20 02:08 am (UTC)
From: [identity profile] dawny-darko.livejournal.com
at 11% interest and the likelyhood that it will be paid off in 2-3 years (at least for the ING (AIG?) insurance company portion...we'll see I guess.

Date: 2008-09-20 02:18 am (UTC)
From: [identity profile] mojocatt.livejournal.com
Actually it's probably best this is happening. The total cost in the end depends on how much the assets sell for.

Date: 2008-09-20 02:32 am (UTC)
From: [identity profile] scienter.livejournal.com
I think they're going to do it the way they did with the savings & loans in the 90's...start government corps to buy out the bad debts and let the companies keep their good debts to become profitable again.

Whatever. I'd have rather had a lot of egg muffins.

That's an impressive chest buckle, Fabio. The cape is so last year, though.

Start handing out homes to the poor!!

Date: 2008-09-20 05:41 am (UTC)
From: [identity profile] conandammit.livejournal.com
Don't get me wrong, I understand why this has to be done.

BUT.

Part of me just wants to hold the deregulation fish in all of thier faces and let them collapse. One after the other. Hell, until 2 days ago McPain was still banging the deregulation drum.

I KNOW it would mean a hell like we as Americans could not imagine. I know it. But damn. It would level the playing field a bit, would it not?

It is the suck.

Now, if Bush's American bribery package had been more like 20k instead of a few hundred bucks, and it was not easily confiscated by those pirates at the IRS MAYBE we could have dug ourselves out of this hole... but probably not. We are the suck.

Date: 2008-09-20 06:40 pm (UTC)
From: [identity profile] mavrik1033.livejournal.com
Mmmmmmmm! Eggs!

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