| show me the money
Posted: 9/28/2008 9:26:13 AM | Wed Sep 24, 2008 9:52pm EDT
BEIJING, Sept 25 (Reuters) - Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.
The Hong Kong newspaper cited unidentified industry sources as saying the instruction from the China Banking Regulatory Commission (CBRC) applied to interbank lending of all currencies to U.S. banks but not to banks from other countries.
“The decree appears to be Beijing’s first attempt to erect defenses against the deepening U.S. financial meltdown after the mainland’s major lenders reported billions of U.S. dollars in exposure to the credit crisis,” the SCMP said. LINK
Bush is proposing a 700 Billion Dollar Bailout; with China stopping their banks from lending to us, where exactly will this 700 Billion Dollars materialize from?
http://www.opednews.com/articles/2/Now-We-Know-More-About-Bus-by-William-Cormier-080925-680.html | |
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| show me the money
Posted: 9/28/2008 3:15:17 PM | | The only correction is that is not President Bush who is proposing this bailout. He is only agreeing to it. The money is coming from the federal researve just as it did under FDR at the end of the depression. The government covers the loans from property that is losing value and when the property goes back up, the loans once again become valuable and can be sold for a profit. It worked back in the early 20th century but I dont think the congress was quite as corrupt as it is now. lol | |
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| show me the money
Posted: 9/28/2008 3:38:55 PM | | some want this deleted. not me but watch because this may be gone soon. just a suggestion. | |
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| show me the money
Posted: 9/28/2008 4:31:31 PM | When a profit is made it is supposed to go directly back to the TAXPAYERS who funded it.
But you would be surprised at the number of people who file returns that don't pay income taxes -- and even get more back than they paid in (if they paid in at all!) These folks are going to be screaming mad if they don't get (?)THEIR(?) "piece of the pie". Ultimately, they WILL get it. Most of YOUR pie, too. | |
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