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Bailout Doesn’t Resolve Fears On Economy, Credit
CNBC.com
Saturday, Oct 4, 2008
Congress approved a $700 billion bank bailout Friday, but stocks tumbled as investors worried that the plan wouldn’t be enough to stem the credit crisis or keep the US economy from falling into a recession.
The House approved the financial rescue plan by a vote of 263-171 and it was quickly signed into law by President Bush. The action ended two weeks of high-stakes haggling in Washington that had roiled global markets.
Stocks, which rallied before passage of the bailout, immediately reversed course as investors focused on the economy and credit crisis. The market ended up with its worst week in seven years.
(Article continues below)
“The markets are still paralyzed,” Loomis Sayles’ Dan Fuss, one of the most widely followed U.S. bond managers, said after the vote. “We need confidence back in these markets and that really takes time.”
In a sign of the spreading crisis, California said it was running out of money, France said the world stood on the “edge of the abyss” and European leaders divided over their response to the banking sector’s difficulties.
Earlier Friday, the US reported its biggest monthly job loss in 5 1/2 years, coming on top of a pile of economic data pointing to an approaching recession. Data showed the U.S. services sector holding up.
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42 Responses to “Bailout Doesn’t Resolve Fears On Economy, Credit”
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October 4th, 2008 at 6:10 am
” I went to visit my friend in the ICU yesterday.
He was paralyzed: from the Shipwreck!
He saw it coming ; but could not stop..through he tried!
337 mutineers took control and crashed the SHIP..
..my friend was thrown over-board..
..he is in Critical Condition..
He is your friend also..because the ‘he’… is ‘you and me!’
October 4th, 2008 at 6:49 am
“They want a fascist planet with the superwealthy ruling it all
Since we’re too independent, America must be led to fall
When our credit’s been exhausted to subdue the Middle East,
They’ll install our debtor nation in the body of The Beast
Traitor…Dare call it treason”
http://www.youtube.com/watch?v=uw5dP5gy2Vs
–The Cornbread Mafia
October 4th, 2008 at 6:49 am
Sad day for America
October 4th, 2008 at 8:07 am
There are more of US then there are of them.
We need to take back OUR country.
October 4th, 2008 at 8:33 am
Had enough?
http://www.youtube.com/watch?v=Jd1pXszGbwA
October 4th, 2008 at 8:45 am
Do Not Vote The Fucking Bastards Back In! Or shut the fuck up and quit complaing.
October 4th, 2008 at 9:02 am
THE PEOPLE’S PLAN; [for the Shipwerck]
1] Boycot everything (if they don’t get our money they have nothing)
2] Do not Pay any Bills ( they can’t arrest all of us)
3] On One day [nov.3rd?] we all stay home from Work (let the powers that be run their own dammed system)
4] The PLAN will only work…if We the People have the GUTS to follow through…
5] Please my friends and country men and women…add to the Plan!
6]…this is yours…
7] now for those who say: we don’t have a PLAN? well i have just started one…
TOGETHER WE STAND…alone we fall…one at a time!
(see comment # 7; by claudia on ‘National dept topped 10 trill. this week’ article )
October 4th, 2008 at 9:11 am
I don’t and will not vote for these pieces of crap. I am writing Ron Paul in for president this november. i refuse to watch tv. i refuse to believe the liars(pelosi, chaney, bush…) in washington and as far as i’m concerned everone that voted for the bailout is guilty of treason and high crimes.
October 4th, 2008 at 9:50 am
Doc Holliday, are you really stupid enough to believe the problem with corrupt politicians can be solved at the voting polls? Or are you just another paid Nazi troll buying time until martial law can be declared and the concentration camps are open for business?
Seems we tried the vote thing the last time around when we traded corrupt Republicans for even more corrupt Democrats. There is no two-party system. Both Republicans and Democrats in Congress are either fascist or take orders from fascists. Period. Now, the majority has no say whatsoever about when and how much money is picked from our pockets or where that money goes. We are now slaves to a Nazi regime that will not rest until “malcontents” like us face the same fate as Jews in Hitler’s Germany. Some 300 concentration camps await folks like us. They intend to kill us in the name of controlling terrorism.
The American people are not the terrorists, as the fascists in Washington and the White House would have us believe as they shamelessly body search 80-year old women at our airports. They are the terrorists, as demonstrated this past week in Washington and as described in the Patriot Act they themselves penned and then jammed down out throats using the same tactics of lies, fear, and power brokering they used on the Bail Out.
The Founding Fathers in their wisdom knew this day would eventually come. They gave us the Second Amendment as the remedy for a federal government gone totalitarian. Will we use it? No, because, among other things, we are sorely lacking in the wisdom, resolve and courage of our nation’s founders.
And don’t count on God putting Humpty Dumpty back together again. Our prayers for a restored America fall like lumps of lead to our feet. They will not be heard or answered. God has been outlawed and criminalized in His own country, just as have been Constitution abiding, hard working citizens who have the audacity to speak truth. We have butchered over 100 million Americans since 1974 in their mothers’ wombs in the high sounding name of “women’s choice.” We have likewise murdered over one million Iraqis and dosed their country with depleted uranium that will maim and kill for of centuries. Now, with blood to their ears, the monsters in Washington plot war against Iran using the same tactics of lies and fear mongering they used against Saddam Hussein and during this week’s so-called Wall Street Bail Out. But this time they will goad the dreaded bear into action.
The awful final truth is that Putin will shortly use the big nuclear stick to put us and our Nazi masters out of our misery permanently. That US future is well described in Revelations Chap 18 where America is Bablylon, destroyed by fire in one hour. Coming soon to a neighborhood near you. The road sign reads, “Rough Road Ahead. GET RIGHT WITH GOD OR BE ETERNALLY SORRY.”
October 4th, 2008 at 10:10 am
I “OWE” the IRS & State of WA a combined total of $20,000 and I WILL NEVER PAY THEM!!!!!!!
2 years ago I went $1000 negative in my Wa Mu bank acct. and WALKED AWAY. When the sent a creditor after me I changed my phone number.
Then I went to US bank and I after a year I decided to go $500 negative and I WALKED AWAY. But before they could put me in the chex system I was onto Well Fargo. A month later I went $200 negative and WALKED AWAY. Then I immediately went to Bank of America where I now have my bank acct. (which i will keep cause i need one).
So I’m feeling pretty good right now as I have not paid that corrupt govt. AND I “stole” $1700 from those asshole banks. Nanny nanny billy goats I’m a smart American cause guess what? Credit is MEANINGLESS NOW.
So go out and do what I just did if you don’t care about your credit and you need to pay some bills. Just make sure you go to get another bank acct. before too much time elapses.
October 4th, 2008 at 10:29 am
If the recent occurences/decisions arent enuff to awaken the sleeping giant,i dont know what is…”votes/voting” hasnt mattered in decades…this Republic is truly lost,there will not be any changes toward the better without armed conflict…’they’ know this…We keep drawing new lines in the sand…’they’ also know this and keep pushing…Believe me,when We do get backed against the wall,its gonna get bloody…it will also be too late to effect change…We will be lost,simply called “a few armed rebels” and logged in the annals of history as ‘terrorist’ that were opposing the ‘greater good’…’Their’ plan has come to fruition,next step…Martial Law:Fascism:NWO…as it is written,so shall it be…GOD BLESS OUR REPUBLIC
October 4th, 2008 at 10:37 am
http://es.youtube.com/watch?v=Bw32XCw_AvM
October 4th, 2008 at 10:42 am
ooo! ooo! ooo! Did all you Jonny Rebbs notice that the English Royal family just bought their own Private Jet to ferry the Hub of the issue quickly from one location to another. Apparently they have always relied on military planes or charter aircraft but RECENTLY decided thast a private Jet would suit their needs. Do they think they will need to quickly Jet away from something soon? Check it out -you can find it on Google.
October 4th, 2008 at 10:52 am
Ron Paul states that the”Bailout” is only a band aid on a balloon.
October 4th, 2008 at 11:33 am
Relax sit back and watch it unfold. The sheeple who have been so busy watching tv and shopping with there credit cards are in for a rude awaking. It is pretty funny I keep warning people at work about what is to come. they tell me to stop believing all the stuff I read.
October 4th, 2008 at 11:54 am
Here’s something to ponder ladies and gentlemen……
The bail out is a done deal and the president signed it within 12 minutes. But?!?!
Looking at market reactions over the last few days ( and I’m just thinking out loud here ) the U.S. Senate negotiated the bill Wednesday evening. Word gets out around the world and the Asian markets nose dive on the news as does Europe and then the DOW bombs 355 points on Thursday.
The bill hasn’t changed much from the Senate to passage in the Congress. This time the announcement was made before the markets closed and the DOW was up just over 300 points. The news comes out, and bang, we see a 460 point turn around to close down about 160. So, I ask all of you great minds, what do the US and International markets see which would cause them to drop first after the Senate passes this garbage and then the same thing happens after the Congress passes the bill? The opening of the markets in Asia this Sunday evening may give us a clue. Something tells me we’re in for a bumpy ride. Something just smells in the market place and it must be stinking things up pretty bad if the markets are reacting the way they have been for the last few days every time this bill advanced. Something wicked this way comes?
October 4th, 2008 at 12:09 pm
So the BottomLiners are getting away with a big haul this time, and the sheeple continue to get fleeced. Why am I not surprised? But cosmic times, they are a-changing’, and the up-coming financial crash will create Great Necessity, which will eventually give birth to Great Invention. The Morstuffians who’ve been worshipping a false god for a long time now. will loose their Babble-On Buxx and their Mighty Maul Temples, and will discover the great joy of working together for the good of all life. Materialism has reached its apex. Now comes the fun!
October 4th, 2008 at 12:45 pm
weather wars and such
http://ca.youtube.com/watch?v=a5Nl7_NK0jU
October 4th, 2008 at 2:17 pm
greetings earthlings,
yes, 700 billion for me and my buddies wow this is too easy threaten the sheeple with marshall law and a busted economy and see what i did! just a frendly warning people
cover your back?
one born every minute!
scienceofficer, i can help!
October 4th, 2008 at 2:19 pm
MYTHICshadow
STOP
PUTTING
your pathetic video links everywhere.
This is NOT an advertising board.
You aren’t even contributing to the articles. Do you even read?
Loser.
–The Staff
October 4th, 2008 at 2:59 pm
Of course they still are crashing the stock market with more fears because they ALWAYS intended to come back for MORE, they just needed the smaller CARROT number to lure the sheep OFF THE CLIFF.
So now that they TRICKED and feared the SHEEP into $700 billion now they will ROB them for MORE and I am sure even MORE!
This was all CON JOB 101.
October 4th, 2008 at 4:28 pm
hey, no problem !!!!! the scumbags are still in political office who approved the $700 bil, they’ll just give approval for another $700 bil, the sky’s the limit !!!!!!!!!! I wonder if their going to bail out Social Security in the upcoming decade ????????????
http://www.youtube.com/watch?v=cKosNhuvp4E
October 4th, 2008 at 5:00 pm
THEY TRICKED NO ONE(THE MAJORITY OF THE US POPULATION),THE GOVERNMENT AND THE MEDIA(CORPORATIONS) SIMPLY LIED TO US AND DID AS THOSE THAT REALLY RUN SHIT WANTED! YOUR VOTE DOES NOT COUNT! WHAT YOU HAVE TO SAY DOES NOT MATTER AND YOU AND I ARE SLAVES HERE!
IF YOU DISAGREE WITH WHAT I HAVE JUST SAID, PLEASE TELL ME WHY YOU AND I ARE NOT SLAVES.THEY DO AS THEY WANT AND HAVE DONE SO FOR HUNDREDS OF YEARS. THE PEOPLE OF THE UNITED STATES FUND(DIRECT TAX ON YOUR WAGES) THE FEDERAL(NOT FEDERAL,BUT A PRIVATE COMPANY)RESERVE. THE FED(AS WE ALL KNOW THEM)LENDS MONEY TO THE GOVERNMENT!!
WHAT WAS THAT? THE FED LENDS MONEY TO DC(DISTRICT OF COLOMBIA)YOU KNOW WASHINGTON. HOW CAN THAT BE? YOU ASK? WHY IF THIS GOVERNMENT IS BY THE PEOPLE FOR THE PEOPLE SHOULD THE PEOPLE(WASHINGTON)BE BORROWING MONEY FROM A PRIVATE COMPANY? ANSWER: WASHINGTON(DC) IS ANOTHER COMPANY AND WE ARE JUST THEIR EMPLOYEES!! THAT’S WHY YOU ASSHOLES!!
THESE PEOPLE(WASHINGTON,DC) ARE ALMOST ALL TRAITORS THAT WORK FOR A COMPANY THAT HAS 50 STATES FULL OF EMPLOYEES!!
October 4th, 2008 at 5:27 pm
Effective strategy to clean congress
http://www.tenurecorrupts.com
October 4th, 2008 at 6:25 pm
i, like anthony (comment #8), am protesting on nov. 4th by writing in Ron Paul. i’m tired of this. read jim marrs “rise of the fourth reich.” we’re going to repeat history.
God bless alex jones, ron paul, jesse ventura, and anyone else who exposes these traitors. we need to hold them accountable asap.
October 4th, 2008 at 7:11 pm
Sorry fundamental worldlies, super heroes do and will exist!
Haven’t you ever heard of solar flares and untaped genetics?
X-rays and gamma rays and a way to truly fight back.
Or did you think flyers and billboards about worldly ways to fight a worldly order would really defeat the technology they have on tap?
I love you Alex Jones, but people who believe in super heroes aren’t delusional quacks.
That’s what I’ve always believed and seen in my dreams; and I’ve always got pangs from people who simply give up on things they have not yet seen.
My name is Nat. Believe what you want to believe. I’ll still love you all back.
October 4th, 2008 at 7:21 pm
Millions of houses built under the auspices of the Sub Prime lending spree, which now lie vacant are being sold over the internet to purchasers in India, who are also promised jobs, while the evictees, are between the rock of the guns and ammo crowd in the countryside, on the one hand, and the hard place of the lock and loaders in the cities, policing the car parks and hobo jungles on the other.
The Blackwater menace is never far away, the chemtrailing is cooling the air sufficiently to cause an increase in the incidence of hurricanes, and tornadoes… Congresswoman McKinney tells us that five thousand prisoners were shot in the immediate aftermath of hurricane Katrina.
So where do the homeless jobless penniless evictees go except the FEMA camps… take another look at the concentration camps in Europe, and the J’s who infiltrated the political and security apparatus in Germany and the Soviet Union, who carried out the Holocaust, then blamed Hitler, and did the genocides in Russia and the Ukraine, to the tune of maybe hundreds of millions dead,
Then covered their tracks by engineering the air war on Germany, and the ground war between Germany and Soviet Russia, then wrote the whole exercise up according to their Talmudist Zionist bullsh*t version of events, via the mainstream press including the good folks at Infowars, who are equally blind to evidence that says the Jews did 911.
Or has anyone got another explanation as to why Mossad agents were on station at 8:47 am in New Jersey on 911, filming the drama amid evident Jewbilation!! That they are doing the same thing here, and everywhere else, remains unnoticed by the mainstream media, and the entire political lobby world wide!!
Ever wondered why the US casualty lists from Iraq and Afghan show a bias toward whites, in these straightened times many black Americans join the service, so where are the black units, might you ask?? They are in reserve and it is the blacks who are gonna do the deed on White America, it was black US mercenaries who rampaged thru Osettia in August, throwing hand grenades into basements where the citizens were sheltering… they have the same sh*t planned for whitey!!
October 4th, 2008 at 8:25 pm
It looks like everyone is going into shock! It is all a mind game as real as it is. I have been homeless before and its not a nice place to be, but better than a fema camp. However this is exactly what they want. The big deception isn’t over yet. It has to play its course than another spin to cover it all up. I keep saying its a spiritual war and they can be beaten, but not with flesh and blood. Since they do not have the ability to see clearly with the eyes of the spirit of God. Only true believers who are willing to give everything for the truth will be able to stop them. They are counting on this panic to get rid of us and bring in new slaves to take our place.
We are born in the image of God and God says. Let them that draw close to me, I will draw close to them. This will give us the clarity of vision to fight the demon possessed who are doing this and causing this. They run in fear in the prescience of the true God. By bringing them into the light they will fight even harder to deceive us and rid the world of us, but the true possessed quake in fear of being exposed and even though it may appear that they are gaining ground, it is in desperation to carry out the plan of their Master Lucifer. Personally I know that it is a last ditch effort to stay out of the light as when true believers see this with the eyes guided by the spirit of God the real war will begin.
October 4th, 2008 at 9:07 pm
It is Funny/Shameful that Saturday Night Live can give a better vision of the Political mess that happened last week than NBC News.
October 4th, 2008 at 9:30 pm
I guess the best thing we can all do is to try and get off the grid as much as possible. No new loans and live with in our income until we can work out deals with each other in a barter system. Use cash when ever possible. Lets see how well the banks do when they have no customers…
October 4th, 2008 at 11:05 pm
http://ca.youtube.com/watch?v=a5Nl7_NK0jU
October 5th, 2008 at 12:27 am
At a loss about how to stick it to your banking and corporate overlords??
A Bastard Guide to Surviving Economic Collapse, or Monkeywrenching the Bankstas:
http://dailybastard.org/site/article/20
October 5th, 2008 at 2:02 am
Anthony, good for you! Im doing the same thing. Im writing in RP or voting for Barr. As far as turnig off your televeison, it isn’t so bad. I watch it now and then and actually didn’t have our own tv till i was thirten. It isn’t hard to do when you get used to it. the only thing about it is that when others hve tv conversation, your kinda like an outcast not knowing wht they ae talking about. Other things in life become enriched for it. Read good books that make you wise. TV is such an addiction and a source of good stuff but also a source of indoctrination. I have been doing this all my life, about 2 hours total a week of tv. If you can do this, your will see that you will have more peace. good luck,take care.
October 5th, 2008 at 2:02 am
It takes awhile to sort out all the info as the internet is a very big place and tons of information. Some true and some lies. However the information is being stored and scanned by not only us, but by Google, the internet police and etc. So why should this site be any different. I would have to say, don’t give out any information that you don’t want to used against you, your family and so forth. I see this as one elaborate mind game in order to enslave us even more. To tear our foundations that make us individuals to group mentality, to catch those of us not yet mentality enslaved by their conditioning. So we run this risk in the long run.
Personally I am only sticking around for awhile longer before I get off the grid and that means the internet as well. I found the truth about life before the internet. What is out there is a different type of reality. A reality with living breathing people, animals, plants and nature. And of course the creator. True the internet can offer much, but it is being used to learn to completely enslave us and for me it won’t be long now before I drop out again while I can and go on another journey to seek the quiet wisdom of the creater.
October 5th, 2008 at 2:06 am
Anthony.P.S. Now if i can simply control this bloggin thing of mine(lol)
October 5th, 2008 at 2:07 am
Anthony>P.S. Now if i can simply control this bloggin thing of mine(lol)
October 5th, 2008 at 3:37 am
http://ca.youtube.com/watch?v=Vv3yuRdD2oE
October 5th, 2008 at 5:52 am
Bail-out..Fail-out: from 337 Traitors in our Congress!
” when the Rich sing the Blues..they put on the danic’ shoes?”
…i say STOP THE SONG and the MUSICAL GIVE AWAY DANCE…
We the Peolple have one month before the elections…
We can take back the dancefloor[the USA] form these usurper’s…and besides their ‘dancing’ reminds me of a ‘vacume cleaner’…they suck!
October 5th, 2008 at 11:20 am
The banks are freezing up credit and holding onto their assets because of those CDS bets on loan defaults hanging out there. As far as I can figure out, there is a glitch in CDS rules. I am assuming a CDS is a bet that the loans in a bundled subprime security will default, not just the value of the original home loan. If so, that means that the bet is on a security valued at least 30 times the value of the homes covered. From what I understand, if the company insuring the home loans is no longer viable, like Fanny and Freddie, the originator of the loans has to pay off the CDS bet. That means the bank or mortgage company will have to scramble to sell assets to cover the CDS bet. Thus, banks are holding on to their cash. That is why there is a credit crunch. Not a lack of confidence. According to the Financial Times, the CDSs for Fanny, Freddy, Lehmans and MAMU all hit on Monday and nobody really knows the actual amount. It is said to be many trillions. If the CDS is on a security valued at 30+ times the value of the homes, the banks cannot recuperate their losses by just selling the homes to cover it. If I am right, there will be a massive sell off of assets, including stocks, to cover the CDS bets on Monday. Congress would have done better to declare CDSs retroactively illegal as fraud. Conceivably, sharpie banksters were winning at this gangster gambling by deliberately making bad home loans, especially to minorities to use later as scapegoats. Then, they bundled and sold them as securities all over the world, inflating their value. Then, when they predictably default, they make money in a CDS bet that they will do so, pocketing an inflated value on the other end, as well. Talk about hedging your bet. Instead, Congress was persuaded to throw money at it after being threatened with martial law by a lawless administration.
October 5th, 2008 at 1:40 pm
Controlled demolition….. that’s what it is!
Create an actionbomb, read it here http://actionbomb.no-ip.org/
October 5th, 2008 at 2:41 pm
Hey #42 (Diane)
You seem to be pretty fluent in this subject. Thanks for posting.
October 5th, 2008 at 3:02 pm
Most of the old timers in my community do not care about the economy as long as their S.S. checks come in monthly. Their saving are protected under FDIC. So they can all fiddle while watching the money brokers burn.